Plant based Food Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020-2026

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Plant-Based Food Market

• Industry Analysis, Size, Share, Growth, Trends,
  and Forecast (2021-2026)

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The Plant-Based Food Market stood at US 23,010.7
million in 2019 and is expected to grow at a CAGR
of 14.87 during the forecast period 2021-26.

• A more sustainable future requires taking action
  to ensure healthier food practices in healthcare
  facilities. There is a growing movement towards
  embedding climate-friendly practices in many
  sectors of society the healthcare sector has a
  unique opportunity to protect environmental and
  public health, which can be achieved by
  implementing sustainable food practices in
  healthcare facilities. Only an estimated 10 of
  plant protein sources are currently being
  utilized. With the rise in demand for plant
  protein, along with the move towards
  allergen-friendly ingredients, a greater variety
  of plant sources will likely be used. Consumers
  are increasingly considering such factors as
  health, sustainability, and social impact in
  making their food decisions.

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• Healthcare institutions are significant providers
  of food services, offering staff and patients at
  least three meals a day. In 2017, the American
  Medical Association adopted a resolution calling
  on hospitals to provide more plant-based meals
  and remove processed meats to improve hospital
  food environments. The most complete population
  nutritional guidelines are those published by the
  WHO/FAO based on the best currently available
  scientific evidence on the relationship of diet,
  nutrition, and physical activity to chronic
  diseases with a global perspective. The WHO
  experts emphasize that energy consumed each day
  should match energy expenditure to prevent weight
  gain. The increasing year on year awareness
  regarding the Veganuary and the fact that major
  multiple retailers have rapidly expanded their
  shelf space and own label new product development
  for plant-based products underline the growth in
  the sector.

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ghts-on-plant-based-foods-2019-2026
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• The plant-based foods are segmented into
  Plant-Based Milk, Plant-Based Meat, Plant-Based
  Creamer, Plant-Based Cheese, Plant-Based Yogurt,
  Plant-Based Butter, and Other Plant-Based
  Products based on the product type. The dominance
  of the milk category is driven by the growth in
  dairy alternative drinks such as soy, nut,
  coconut, and other plant-based milk and an
  increasing number of lactose intolerance
  populations across the world.
• Based on the application, the global plant-based
  food market is segmented beverages, bakery and
  snacks, breakfast cereals, infant nutrition, and
  other applications. Plant-based beverages and
  other dairy-alternative beverages are gaining a
  significant consumer base, driven most recently
  by peoples increased focus on health and
  sustainability as well as the fact that there are
  simply more high-quality products available for
  people to explore and enjoy.

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• Some of the major players operating in the global
  plant-based food market are Tofurky, Quorn foods
  Inc., Amys kitchen, Archer Daniels Midland,
  Claudron Foods, Morning Star Farms, Sweet Earth
  Foods, Impossible Foods, Maple Leaf food, and
  Beyond Burgers. These companies have adopted
  numerous growth strategies including innovative
  product launches, investment in RD, partnership,
  mergers, etc. to sustain in the growing
  plant-based food market. For instance, in 2019,
  The Vegetarian Butcher announced its first deal
  with a major restaurant chain. Unilever then
  started supply 100 plant-based patties for
  Burger Kings Rebel Whopper to over 2,500
  stores in 25 countries in EMEA.