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The Plant Based Food Market is expected to grow at a CAGR of 12.4% from 2022–2029 to reach $95.52 billion by 2029. The plant-based food market is a booming industry. Food & beverage manufacturers ranging from startups to leading companies are innovating rapidly in this market. The shift towards plant-based diets has been predominantly driven by factors such as the increasing intolerance for animal protein amongst consumers, the growing vegan population, and the rising number of venture investments in plant-based food companies. In addition, the increasing number of research & development and new product launches by plant and protein alternative manufacturers and emerging economies, such as Asia-Pacific, Latin America, and the Middle East & Africa, are expected to create lucrative opportunities for players operating in this market. However, factors such as the comparatively higher price range of meat substitutes, significant preference for animal-based products, and consumer preference for soy and gluten-free products are expected to hinder the growth of this market to a notable extent.
Here are the top 10 companies operating in the Plant Based Food Market
Beyond Meat Inc. offers an innovative plant-based meat. The company is engaged in manufacturing, marketing, and selling of meat substitutes. The company sells its products under the various brand name such as, beyond beef, the beyond burger, beyond meat, beyond sausage, eat what you love, and the cookout classic. The company sells its products through grocery, mass merchandiser, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.
As of December 2019, the company was selling its fresh & frozen meat alternative at approximately 77,000 retail and restaurant and foodservice outlets in more than 65 countries worldwide.
Impossible Foods Inc. (U.S.)
Impossible Foods Inc. is engaged in developing meat, milk, and fish alternatives and manufacturing and selling plant-based burgers and sausages. The company researches animal products at the molecular level, then selects specific proteins and nutrients from plants to recreate the experience of meats and dairy products.
The company has its geographic presence throughout the U.S. and Asia-Pacific. As of 2021, Impossible Foods was available at about 40,300 locations in the U.S. The company also sells its products in Canada, Hong Kong, Macau, Singapore, Australia, New Zealand, and the UAE.
Danone SA engaged in developing, manufacturing, and selling food products and beverages. The company operates through four business segments such as, Essential Dairy and Plant-Based Products, Specialized Nutrition, and Waters. The company’s brand portfolio includes both international brands (Activia, Actimel, Alpro, Danette, Danonino, Danio, evian, Volvic, Nutrilon/Aptamil, and Nutricia) and local brands (Aqua, Blédina, Cow & Gate, Bonafont, Horizon Organic, Mizone, Oikos, Prostokvashino, Silk, and Vega). The company offers plant-based dairy and meat alternatives through its essential dairy and plant-based products.
Through the network of 530 research & innovation specialists in 40 countries, the company sold its products over 120 countries.
Garden Protein International Inc. (Canada)
Garden Protein International, Inc. operates as a subsidiary of Pinnacle Foods Inc. (U.S.) (In June 2018, Pinnacle Foods Inc. was acquired by Conagra Brands, Inc. (U.S.)) The company is engaged in manufacturing and marketing plant-based meat, pork, beef, and fish products. The company offers dairy and meat free products made from soy, wheat and pea proteins, vegetables, and ancient grains.
The company sells its products throughout the North America and Europe by using the brand name Gardein.
Amy’s Kitchen Inc. is engaged in producing and marketing natural and organic convenience and frozen foods. The company’s product portfolio mainly segmented into entrées, bowls, burritos & wraps, pizza, pasta, soups, snacks, pot pies, veggie burgers, veggie meats, chili, beans, pasta sauce, salsa, candy, and others. The company distributes its specialty foods globally through supermarkets, natural food and grocery stores, warehouse clubs, colleges, and online.
With the several manufacturing locations in the U.S. such as, California (Santa Rosa), Idaho (Pocatello), and Oregon (Medford), the company has its geographic presence in the North America, Europe, Asia-Pacific, and Latin America.
Meticulous Research in its latest publication on Plant based Food Market has predicted the growth of 12.4% during the forecast year 2022-2029.
THE HAIN CELESTIAL GROUP, INC. (U.S.)
The Hain Celestial Group, Inc. is engaged in manufacturing, marketing, distributing, and selling foodstuffs, personal care products, and meat alternative products. The company operates through four business segments, namely Grocery, Snacks, Personal Care, and Tea. In plant-based products space, the company offers soy, rice, oat, almond, and coconut based beverages, frozen desserts, and meat alternatives. The company offers plant-based products through the various brands such as, The Lima, Natumi, Linda, Dream, Joya, WestSoy, Yves Veggie Cuisins, and Formatio. The company sells its products through specialty and natural food distributors; supermarkets; natural food stores; mass-market and e-commerce retailers; and food service channels and clubs.
With the several manufacturing facilities in the Europe and North America, the company has its geographic presence in more than 70 countries.
Daiya Foods Inc. is operating as a subsidiary of Otsuka Pharmaceutical Co., Ltd. The company is engaged in producing and supplying plant-based food products. The company’s portfolio includes cheese alternative products, yogurt alternatives, dressings, and desserts. The company also partnered with other companies that make products with Daiya, including Amy’s dairy free rice macaroni & cheeze, NuLife grilled cheese sandwich and round ultimate cheese pizza, Gardein meatless products, Tofurky pizza, and others.
The company has its geographic presence in the North America, Latin America, Europe, and Asia-Pacific.
Marlow Foods Ltd (U.K.)
Marlow Foods Ltd. operates as a subsidiary of Monde Nissin Corporation. The company is engaged in producing and selling meat alternatives. The company offers quorn products which are made from mycoprotein. The company’s product portfolio is segmented into mince, chicken pieces, sausages, crispy coated products, ready meals, and chilled burgers.
The company sells its products globally.
Nestlé is engaged in manufacturing and supply of food and beverage as well as nutritional products through twenty-nine of Nestlé’s brands. The company operates through seven business segments: Powdered and Liquid Beverages, PetCare, Nutrition and Health Science, Prepared dishes and cooking aids, Milk products and Ice cream, Confectionery, and Water.
The company mainly offers plant-based meat, dairy alternatives, seafood alternatives, egg replacers, and plant-based confectionery in the plant-based food space. Along with offering dairy alternatives, the company is also adding plant-based options across its brands, including Nesquik chocolate drinks, Nescafe coffee, and KitKat chocolate.
The company has its geographic presence in North America, Europe, Asia-Pacific, and the Middle East & Africa.
Unilever PLC (U.K.)
Unilever PLC is engaged in manufacturing and selling consumer goods. The company operates through three business segments: Beauty and Personal Care, Foods and Refreshment, and Home Care. The company offers plant-based products through its Foods and Refreshment segment. The Vegetarian Butcher and 3F Bio Ltd are some of the company’s subsidiaries that offer plant-based products, including plant-based meat, ice cream, other recipes.
The company has its geographic presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Popular Mentions: Plamil Foods Ltd. (U.K.), Sahmyook Foods (South Korea), Sanitarium Health and Wellbeing Company (Australia), Axiom Foods (U.S.), Daiya Foods Inc. (Canada), Earth’s Own Food Company Inc. (Canada), Lightlife Foods, Inc. (U.S.), Marlow Foods Ltd. (U.K.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), and Nutrisoy Pty Ltd. (Australia).
Authoritative Research on the Plant Based Food Market – Global Opportunity Analysis and Industry Forecast (2022-2029)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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