DUBLIN, April 7, 2021 /PRNewswire/ — The “United States Plant Based Food Market Forecast By Segments, Food Services, Merger and Acquisitions, Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The United States Plant-based Food Industry was valued at US$ 5.6 Billion in 2020 and is expected to increase to US$ 10.7 Billion in 2027. Plant-Based Food Market in the United States is expected to grow with a CAGR of 9.69%.
Plant-based food is derived from plant, including vegetables, fruits, grains, seed or legume, beans, and oil. Plant-based products considered to be more digestible as compared to animal-based food. In the United States, people are shifting towards plant-based foods, which attributes to the U.S. non-vegetarian or dairy industry’s impact.
According to Vegan news, 2020 Americans following plant-based diets was up nearly 9.6 million over the last 15 years. This was a 300% increase and almost 3 percent of the population in the United States.
Plant-based milk has wide application in the food and beverage industry. Various plant milk types like soya, almonds, coconuts, oats, and rice milk are present in the market. Americans prefer plant milk over any other dairy or animal milk because of its high nutrition value, Omega-3 fatty acid and vitamins.
There has been phenomenal growth in the number of people who are turning vegan and preferring a plant-based diet. Due to this, many full services restaurants in the United States also offer varieties of plant-based products depending upon their customer’s preferences and needs.
The United States Plant-Based Food has varieties like Plant-based milk, Plant-based meat, Plant-based meals, Plant-based ice cream and frozen novelty, Plant-based creamer, Plant-based yoghurt, butter, cheese, Tofu and tempeh, plant-based ready-to-drink beverages, Plant-based dairy spreads, dips, sour cream, and sauces etc. It mimics traditional beef using plant ingredient. Plant-based meat is expected to grow during the forecast period.
The rising concern regarding the environmental impacts of livestock production and meat availability has led many American people to shift to plant-based meat substitutes. Besides, lactose intolerance among infants and adults in the United States is a foremost issue boosting plant-based milk market growth. Whereas the popularity of gluten-free and low carbs diet helps increase the demand for Tofu among both vegans and non-vegan people.
Moreover, increasing obesity and health consciences among the people of the United States is increasing demand for plant-based food items as they are natural and low in fat and calorie content.
Although plant-based food has many benefits over animal-based products, it is expensive and not easily afforded by common people are some challenges of the plant-based food industry.
Key Topics Covered:
2. Research Methodology