United-States-Plant-Based-Food-Market

United States Plant Based Food Market Size And Forecast Report 2024-2030

November 8, 2024

aman renub

United States Plant-Based Food Market Outlook

The United States plant-based food market is projected to reach $19.07 billion by 2030, according to Renub Research. Plant-based ingredients are gaining popularity as a food choice derived from plant sources, free from dairy and meat. This shift is largely attributed to their nutritional benefits, high protein content, and rich array of vitamins and minerals, alongside their eco-friendly nature. Additionally, meat alternatives—products designed to mimic the taste, aroma, and appearance of real meat while offering a healthier profile—are also gaining traction. Key ingredients for these alternatives include soy, wheat, and peas.

The growth of the plant-based food market in the U.S. is driven by an increasing consumer demand for nutritious and environmentally friendly options. Companies have responded to this trend by launching products with clean labels and plant-based components. However, rising prices for these foods may hinder growth, especially in regions where consumer income levels are lower.

As the popularity of plant-based products continues to rise, this trend shows no signs of slowing down in the United States. With benefits such as environmental sustainability and enhanced nutritional value, plant-based diets are becoming increasingly appealing to consumers.

Market Growth Projections

The U.S. plant-based food industry is anticipated to grow at a CAGR of 11.54% between 2024 and 2030. Over the past decade, there has been a notable increase in consumer awareness regarding the reduction of animal product consumption. Plant-based meat alternatives are gaining prominence, particularly among individuals adhering to vegan diets—who completely avoid animal-derived foods. Reasons for adopting this lifestyle range from health concerns to ethical considerations, promoting sustainability, and addressing animal welfare in food production. The rise in health awareness and interest in sustainable food alternatives continues to propel the demand for plant-based diets and alternative proteins in the U.S. market.

According to a survey conducted by Amy’s Kitchen in April 2023, 52% of Americans expressed interest in vegan food. The U.S. plant-based food market was valued at $8.88 billion in 2023, reflecting significant consumer engagement in this sector.

Market Segmentation

The U.S. plant-based food market is divided into several segments, including:

  • Milk
  • Meat
  • Meals
  • Ice Cream
  • Yogurt
  • Creamer
  • Butter
  • Cheese
  • Tofu and Tempeh
  • Ready-to-Drink Beverages
  • Condiments, Dressings, and Mayo
  • Spreads, Dips, Sour Cream, and Sauces
  • Eggs
  • Others

Among these segments, plant-based meat alternatives are expected to capture the largest market share due to the increasing popularity of vegetarian and vegan diets. Soy-based meat alternatives, in particular, are gaining traction for their meat-like texture and flavor. Brands and startups across the U.S. are responding to this growing demand by offering soy-based products that meet consumer preferences for allergen-free, health-focused, and sustainable food options.

Impact of Quick Service Restaurants (QSR)

In the U.S. plant-based food market, Quick Service Restaurants (QSR) hold a significant revenue share. The QSR segment is thriving, fueled by rapid urbanization, rising disposable incomes, and advancements in flavors and product offerings. The demand for plant-based meat has surged, prompting many fast-food chains to incorporate these options into their menus. For instance, KFC made headlines by being the first major fast-food chain to introduce a plant-based chicken product, Beyond Fried Chicken nuggets, to its menu in January 2022, marking a pivotal moment in the market’s shift towards sustainable and ethical food production.

Key Players

Prominent companies in the U.S. plant-based food market include:

  • Beyond Meat Inc.
  • Conagra Brands
  • Maple Leaf Foods Inc.
  • Archer Daniels Midland
  • US Foods Holding Corp.
  • Kellanova
  • Tyson Foods
  • Hormel Foods Corporation

Segments – Market breakup from 14 Viewpoints

  1. Milk
  2. Meat
  3. Meals
  4. Ice Cream
  5. Yogurt
  6. Creamer
  7. Butter
  8. Cheese
  9. Tofu and Tempeh
  10. Ready to Drink Beverages
  11. Condiments, Dressings and Mayo
  12. Spreads, Dips, Sour Cream and Sauces
  13. Eggs
  14. Others

 

 

Food Services – Market breakup from 8 Viewpoints

  1. Quick Service Restaurants (QSR)
  2. Full Service Restaurants
  3. Education
  4. Healthcare
  5. Lodging/Casino
  6. Recreation
  7. Business and Industry
  8. Others

 

Related Report :

 

Protein Supplements Market

Cabernet Sauvignon Market

Oleochemicals Market

 

 

Merger and Acquisitions

All companies have been covered from 3 Viewpoints

  • Overviews
  • Recent Developments
  • Revenues

 

 

Company Analysis – Market breakup from 8 Viewpoint

  1. Beyond Meat Inc.
  2. Conagra Brands
  3. Maple Leaf Food Inc.
  4. Archer Daniels Midland
  5. US Foods Holding Corp
  6. Kellanova
  7. Tyson Foods
  8. Hormel Foods Corporation

About the Company:

Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

 

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