NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET FORECAST 2021-2028

The North America plant-based food and beverage market is anticipated to grow with a CAGR of 9.18% over the forecast period of 2021 to 2028. The region’s market growth is supplemented by factors like the well-established presence of key players, the rising incidence of lactose intolerance, the declining cost of plant-based alternatives, and the increasing concerns associated with health, the environment, and animal well-being.

north-america-plant-based-food-and-beverage-market

The North America plant-based food and beverage market growth is assessed through the analysis of the United States and Canada. As per the National Digestive Diseases Information Clearinghouse, nearly 30 to 50 million Americans in the United States suffer from lactose intolerance, including up to 90% of Asian Americans and 75% of African Americans and American Indians. The fundamental purchase drivers for plant-based milk include lower calories, new and innovative flavor options, digestive comfort, milk or lactose protein allergy issues, and other perceived health benefits.

The United States harbors numerous leading companies within its plant-based food and beverage market, such as Tyson Foods Inc, PepsiCo Inc, Conagra Brands Inc, Coca Cola Co, and The Kellogg Company, among others. In January 2021, Meyond Meat Inc and PepsiCo Inc partnered to form a joint venture, The PLANeT Partnership, LLC (TPP), in order to develop, produce, and commercialize innovative beverage and snack products manufactured from plant-based proteins. Hence, these factors are set to play a crucial role in accelerating the plant-based food and beverage market growth in North America during the forecast period.

Conagra Brands Inc, headquartered in the United States, is a consumer-packaged goods food company. It operates through key segments, namely, international, refrigerated and frozen, grocery and snacks, and foodservice. The company markets its product offerings under the brands Marie Callender’s, Healthy Choice, Birds Eye, Slim Jim, Banquet, Angie’s BOOMCHICKAPOP, Chef Boyardee, and others.

TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY    
    1. STUDY OBJECTIVES      
    2. SCOPE OF STUDY          
    3. METHODOLOGY   
    4. ASSUMPTIONS & LIMITATIONS           
  2. EXECUTIVE SUMMARY         
    1. MARKET SIZE & ESTIMATES    
    2. MARKET OVERVIEW      
  3. MARKET DYNAMICS  
    1. KEY DRIVERS       
      1. THE RISE OF VEGAN CULTURE
      2. INCREASE IN AWARENESS ABOUT LACTOSE INTOLERANCE   
      3. NUTRITIONAL BENEFITS OFFERED BY PLANT-BASED PRODUCTS     
    2. KEY RESTRAINTS
      1. HIGH PRICE
      2. LACK OF AWARENESS   
      3. PERCEPTION CONTRAST BETWEEN DAIRY AND PLANT-BASED FOOD AND BEVERAGES 
  4. KEY ANALYTICS          
    1. IMPACT OF COVID-19 ON PLANT-BASED FOOD AND BEVERAGE MARKET 
    2. KEY INVESTMENT INSIGHTS   
    3. PORTER’S FIVE FORCES ANALYSIS 
      1. BUYERS POWER   
      2. SUPPLIERS POWER         
      3. SUBSTITUTION       
      4. NEW ENTRANTS    
      5. INDUSTRY RIVALRY         
    4. OPPORTUNITY MATRIX 
    5. VENDOR LANDSCAPE   
  5. MARKET BY PRODUCT TYPE          
    1. PLANT-BASED DAIRY    
    2. PLANT-BASED MEAT      
    3. PLANT-BASED OTHER PRODUCTS   
  6. MARKET BY SOURCE
    1. SOY 
    2. WHEAT       
    3. ALMOND     
    4. CORN          
    5. OTHER SOURCES           
  7. MARKET BY DISTRIBUTION CHANNELS 
    1. SUPERMARKETS/HYPERMARKETS  
    2. CONVENIENCE STORES           
    3. SPECIALTY STORES      
    4. ONLINE RETAIL    
    5. OTHER DISTRIBUTION CHANNELS   
  8. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES      
      2. KEY DRIVERS         
      3. KEY CHALLENGES
      4. KEY PLAYERS        
      5. COUNTRY ANALYSIS       
        1. UNITED STATES       
        2. CANADA                                 
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS   
      1. PRODUCT LAUNCHES & DEVELOPMENTS   
      2. PARTNERSHIPS & AGREEMENTS        
    2. COMPANY PROFILES     
      1. AMY’S KITCHEN     
      2. BEYOND MEAT INC           
      3. BLUE DIAMOND GROWERS       
      4. CALIFIA FARMS     
      5. CONAGRA BRANDS         
      6. DAIYA FOODS INC
      7. DANONE SA
      8. FIELD ROAST GRAIN MEAT CO INC
      9. IMPOSSIBLE FOODS INC
      10. KIKKOMAN CORPORATION      
      11. MORNINGSTAR FARMS
      12. MOVING MOUNTAINS    
      13. PACIFIC FOODS OF OREGON 
      14. QUORN FOODS   
      15. SUNFED     
      16. SWEET EARTH INC         
      17. THE HAIN CELESTIAL GROUP INC    
      18. YOFIX PROBIOTICS        
LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – PLANT-BASED FOOD AND BEVERAGE

TABLE 2: VEGANISM AROUND THE WORLD

TABLE 3: POPULATION PERCENTAGE OF LACTOSE INTOLERANT PEOPLE ACROSS THE WORLD

TABLE 4: ANNUAL CONSUMPTION OF COW MILK WORLDWIDE, BY COUNTRY

TABLE 5: NEW PRODUCT LAUNCHES OF PLANT-BASED PRODUCTS

TABLE 6: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 7: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 8: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOURCE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 9: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOURCE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 10: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY DISTRIBUTION CHANNELS, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 11: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY DISTRIBUTION CHANNELS, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 12: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 13: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 14: KEY PLAYERS IN NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET

TABLE 15: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 16: LIST OF PARTNERSHIPS & AGREEMENTS

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2020

FIGURE 6: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY PLANT-BASED DAIRY, 2021-2028 (IN $ MILLION)

FIGURE 7: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY PLANT-BASED MEAT, 2021-2028 (IN $ MILLION)

FIGURE 8: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY PLANT-BASED OTHER PRODUCTS, 2021-2028 (IN $ MILLION)

FIGURE 9: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, GROWTH POTENTIAL, BY SOURCE, IN 2020

FIGURE 10: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOY, 2021-2028 (IN $ MILLION)

FIGURE 11: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY WHEAT, 2021-2028 (IN $ MILLION)

FIGURE 12: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY ALMOND, 2021-2028 (IN $ MILLION)

FIGURE 13: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY CORN, 2021-2028 (IN $ MILLION)

FIGURE 14: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY OTHER SOURCES, 2021-2028 (IN $ MILLION)

FIGURE 15: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNELS, IN 2020

FIGURE 16: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SUPERMARKETS/HYPERMARKETS, 2021-2028 (IN $ MILLION)

FIGURE 17: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY CONVENIENCE STORES, 2021-2028 (IN $ MILLION)

FIGURE 18: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SPECIALTY STORES, 2021-2028 (IN $ MILLION)

FIGURE 19: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY ONLINE RETAIL, 2021-2028 (IN $ MILLION)

FIGURE 20: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY OTHER DISTRIBUTION CHANNELS, 2021-2028 (IN $ MILLION)

FIGURE 21: NORTH AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 22: UNITED STATES PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 23: CANADA PLANT-BASED FOOD AND BEVERAGE MARKET, 2021-2028 (IN $ MILLION)

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