(MENAFN- GlobeNewsWire - Nasdaq) The global plant-based food market is projected to reach $64.33 billion by 2031, driven by a CAGR of 11% from 2024-2031. The report examines market dynamics across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, highlighting key drivers such as rising consumer intolerance to animal proteins, increased venture capital, innovations in food tech, and sustainability focus. Major players include Beyond Meat, Impossible Foods, and Danone. The egg substitute and pea segments are poised for rapid growth. Asia-Pacific leads in market expansion, supported by collaborative efforts and increased protein diet awareness.

Dublin, Oct. 16, 2025 (GLOBE NEWSWIRE) -- The "Plant-based Food Market by Type, Source, and Distribution Channel - Global Forecast to 2031" report has been added to ResearchAndMarkets's offering.
Global plant-based food market is anticipated to reach $64.33 billion by 2031, growing at a robust CAGR of 11% throughout the forecast period 2024-2031.

This comprehensive analysis examines the worldwide plant-based food industry across five key geographical regions, highlighting prevailing market dynamics, current valuations, recent innovations, and projections through 2031. The analysis encompasses competitive landscape evaluation and country-level market assessment.
Market expansion is propelled by rising consumer intolerance toward animal-derived proteins, expanding vegetarian demographics, increasing venture capital investments in plant-based enterprises, breakthrough innovations in food technology, and heightened focus on animal welfare and environmental sustainability. Additionally, escalating research and development activities, innovative product launches by plant-based manufacturers, and emerging market expansion opportunities are anticipated to bolster market development.

Asia-Pacific is projected to maintain the highest growth rate during the forecast period across the global plant-based food market. This growth trajectory is supported by collaborations between international and domestic food companies, rising awareness of protein-rich diets, flourishing food and beverage industry, economic expansion, rapid urbanization, and substantial vegan and vegetarian population base. Additionally, increasing investments in the plant-based sector and growing adoption of emerging technologies for product innovation are further accelerating regional market expansion.
Based on product type, the egg substitute segment is projected to experience the highest CAGR during the forecast timeframe of 2024-2031.

This accelerated growth stems primarily from surging consumer demand for egg alternatives, increasing investments and technological innovations in egg substitute development, proliferation of new product introductions, and the low cholesterol benefits provided by plant-based egg alternatives. The segment benefits from growing health consciousness, dietary restrictions awareness, and the expansion of vegan and vegetarian lifestyles. As food manufacturers develop more sophisticated formulations that closely mimic traditional egg functionality in cooking and baking applications, adoption rates continue climbing across both residential and commercial segments.
Based on source material, the pea segment is expected to register the most substantial growth rate throughout the forecast period.

This rapid expansion is attributed to consumers' increasing preference for sustainable and palatable alternatives to animal proteins, rising investments from leading manufacturers to enhance pea protein production capabilities, and growing incorporation of pea protein in various plant-based food applications. Pea-based ingredients offer additional advantages being allergen-free, gluten-free, and lactose-free, which significantly broadens their appeal among health-conscious consumers with specific dietary requirements.
Based on distribution channel, the business-to-consumer segment is anticipated to maintain the dominant market position while simultaneously achieving the fastest growth rate during 2024-2031.

This dual leadership results from increased plant-based food sales through established supermarket and hypermarket chains, consumer preference for traditional brick-and-mortar grocery shopping due to accessibility and product availability, and rising consumer expenditure on vegan food products. The segment's growth acceleration is further supported by the rapidly expanding online retail sector, which provides enhanced accessibility, shopping convenience, and cost-effectiveness for consumers seeking plant-based alternatives.
Based on end-use application, the retail segment is expected to capture the largest market share in 2024.

This dominance is primarily driven by growing consumer adoption of plant-based diets, increasing product availability in mainstream retail outlets, enhanced marketing efforts by manufacturers, and improved product formulations that appeal to broader consumer segments. The retail expansion is supported by strategic partnerships between plant-based manufacturers and major grocery chains, dedicated shelf space allocation for plant-based products, and consumer education initiatives that promote the benefits of plant-based nutrition.
Key Questions Answered in the Report

• What is the current market valuation of the global plant-based food industry?
• At what pace is worldwide plant-based food consumption projected to expand over the next 7-8 years?
• What are the historical market valuations and growth trajectories of the global plant-based food sector?
• What are the primary factors influencing market growth at regional and national levels? What significant opportunities exist for current market participants and new market entrants?
• Which segments across product type, source material, end-use applications, and distribution channels are expected to generate substantial opportunities for manufacturers in this industry?
• What are the key geographical trends shaping this market? Which regions/countries are anticipated to provide significant growth prospects for manufacturers operating in the global plant-based food market?
• Who are the leading players in the global plant-based food industry? What are their specific product portfolios in this market segment?
• What are the recent strategic developments within the global plant-based food market? How do these strategic initiatives impact overall market dynamics?

Factors Affecting Market Growth

Drivers

• Increasing intolerance for Animal Protein Amongst Consumers
• Growing Vegetarian Population
• Rising Number of Venture investments in Plant-Based Food Companies
• Innovation in Food Technology
• Growing Focus on Animal Welfare and Sustainability

Restraints

• Comparatively Higher Price Range of Meat Substitutes
• Significant Preference for Animal-Based Products
• Consumer Preference for Soy and Gluten-Free Products

Opportunities

• Product Launches by Plant-Based Food and Alternative Protein Manufacturers
• Emerging Economies

Trends

• Rising industry Concentration with Growth in Mergers and Acquisitions in the Plant-Based Food Space

Competitive Landscape

• Competitive Dashboard
• Industry Leaders
• Market Differentiators
• Vanguards
• Emerging Companies
• Market Share/Position Analysis

Company Profiles

• Beyond Meat inc.
• • Company Overview
  • Business Description
  • Financial Overview
  • Geographic Presence
  • Plant Based Food Product Portfolio
  • SWOT Analysis
  Impossible Foods Inc.
• Danone S.A.
• Garden Protein International Inc.
• Amy's Kitchen Inc.
• Plamil Foods Ltd.
• The Hain Celestial Group Inc.
• Sahmyook Foods
• Sanitarium Health and Wellbeing Company
• Daiya Foods Inc.
• Earth's Own Food Company Inc.
• Lightlife Foods Inc.
• Taifun -Tofu GmbH
• Atlantic Natural Foods LLC
• VBIte Food Ltd
• Nutrisoy Pty Ltd.
• Nestle S.A.
• Unilever PLC
• Sophie's Kitchen

Scope of the Report

Plant-based Food Market Assessment - by Product Type

• Dairy Alternatives
• Meat Substitutes
• Plant-based Meals
• Plant-based Baked Goods
• Plant-based Confectionery
• Plant-based Beverages
• Egg Substitutes
• Fish and Seafood Alternatives
• Other Plant-based Foods

Plant-based Food Market Assessment - by Source Material

• Soy
• Almond
• Wheat
• Pea
• Rice Protein
• Oat
• Other Sources

Plant-based Food Market Assessment - by Distribution Channel

• Business-to-Business
• Business-to-Consumer

Plant-based Food Market Assessment -- by Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

For more information about this report visit

About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

CONTACT: CONTACT: Laura Wood,Senior Press Manager... For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

MENAFN16102025004107003653ID1110205446