Report Overview

North America Plant-based Food Market – Industry Trends & Forecast Report, 2031

North America Plant-based Food Market size was estimated at USD 5.72 billion in 2024. During the forecast period between 2025 and 2031, North America Plant-based Food Market size is projected to grow at a CAGR of 12.30% reaching a value of USD 12.87 billion by 2031. The Plant-based Food Market in North America is driven by rising health consciousness, environmental concerns, and ethical considerations. Increasing adoption of vegan and flexitarian diets, coupled with advancements in food technology, has expanded product diversity and improved taste and texture. Growing investments in plant-based startups and partnerships with food service chains have enhanced accessibility. Consumer demand for sustainable and cruelty-free options, along with the rising prevalence of lactose intolerance and obesity, further propels the market. Millennials and Gen Z are key drivers of the growing trend of plant-based food.

Plant-based Food – Overview

Plant-based food encompasses products derived from plant sources, offering alternatives to meat, dairy, and other animal-based foods. They cater to health-conscious, environmentally aware consumers and those with dietary restrictions. These products include meat substitutes, dairy-free beverages, egg replacements, and snacks, utilizing ingredients like soy, pea, almond, and wheat. With advancements in technology, the taste and texture of plant-based foods have significantly improved. This market thrives due to rising veganism, flexitarian diets, and growing awareness of sustainable and ethical food choices.

North America Plant-based Food Market

Growth Drivers

Increasing Adoption of Vegan and Flexitarian Diets

The shift towards veganism and flexitarianism is a significant growth driver for North America Plant-based Food Market. Consumers are increasingly reducing meat consumption for health, ethical, and environmental reasons, opting for plant-based alternatives. Flexitarians, who balance plant and animal-based diets, further expand the market. Millennials and Gen Z, who prioritize sustainable and cruelty-free lifestyles, strongly influence this trend. As awareness grows, plant-based food becomes mainstream, spurring innovation, product diversity, and widespread adoption across various demographics.

Challenges

High Cost of Plant-based Food Products

The elevated cost of plant-based food products poses a significant restraint on the growth of North America Market. Premium pricing, driven by expensive raw materials, advanced processing technologies, and limited economies of scale, deters price-sensitive consumers. Comparatively, traditional animal-based products remain more affordable, creating a barrier to widespread adoption of plant-based alternative. Additionally, high retail prices hinder accessibility for lower-income demographics. Overcoming this challenge requires cost optimization, increased production efficiency, and strategic pricing to make plant-based foods more competitive and appeal to a broader audience.

Impact of Escalating Geopolitical Tensions on North America Plant-based Food Market

Escalating geopolitical tensions significantly impact North America Plant-based Food Market. Trade disruptions and supply chain instability caused by conflicts or sanctions can hinder the availability of key raw materials like soy, wheat, and peas. Rising transportation costs and tariffs further inflate product prices, affecting affordability and consumer demand. Geopolitical conflicts also divert investments from sustainable food innovations to defense and security sectors. Additionally, strained international relations may limit collaboration on research and development, slowing technological advancements. These tensions can also lead to regulatory uncertainties, complicating market entry and compliance for plant-based food companies. To mitigate these challenges, the industry must focus on local sourcing, resilient supply chains, and fostering domestic innovation to ensure sustainable growth.

North America Plant-based Food Market

Segmental Coverage

North America Plant-based Food Market – By Product Type

By product type, North America Plant-based Food Market is divided into Meat Alternatives, Dairy Alternatives, Egg Substitutes, Plant-based Snacks, and Beverages segments. The dairy alternatives segment is the largest product type in North America Plant-based Food Market. The segment’s dominance in the market is driven by increasing consumer demand for lactose-free and vegan products, alongside a rising focus on health, sustainability, and animal welfare. Dairy alternatives, such as plant-based milk, yogurt, cheese, and ice cream, have gained significant popularity due to their versatility and nutritional benefits. Innovations in taste and texture, along with strong retail availability and expanding product lines, further support the segment’s leading position in the market.

North America Plant-based Food Market – By Source

Based on source, North America Plant-based Food Market is divided into Soy-based, Wheat-based, Pea-based, Almond-based, and other Plant Sources segments. The soy-based segment accounts for the largest share of North America Plant-based Food Market by source. Soy-based products dominate the market, due to their widespread use in a variety of plant-based foods, including meat substitutes, dairy alternatives, and ready-to-eat meals. Soy offers a high protein content, versatility, and cost-effectiveness, making it a preferred choice among manufacturers and consumers. Additionally, the growing demand for plant-based protein sources and the increasing popularity of vegetarian and vegan diets contribute to the segment's significant market share.

North America Plant-based Food Market – By Distribution Channel

On the basis of distribution channel, North America Plant-based Food Market is divided into Supermarkets/Hypermarkets, Online Retail, Specialty Stores, and Foodservice Channels segments. The supermarkets/hypermarkets segment holds the largest share of North America Plant-based Food Market by distribution channel. These retail channels dominate, due to their wide product variety, convenience, and ability to showcase plant-based options alongside traditional products. Supermarkets and hypermarkets often provide dedicated sections for plant-based foods, enhancing visibility and accessibility. They also offer competitive pricing, promotions, and in-store experiences, attracting a broad customer base. The growing trend of plant-based diets and increased consumer awareness of health and sustainability have further bolstered sales in this segment, making it the primary distribution channel for plant-based food products in North America.

North America Plant-based Food Market – By End User

North America Plant-based Food Market by end user is divided into Direct Household Consumers and Foodservice Industry segments. The direct household consumers segment holds a larger share of North America Plant-based Food Market by end user, as it is driven by increasing consumer awareness of health benefits, ethical concerns about animal welfare, and the environmental impact of traditional animal-based products. The rising trend of plant-based diets, including veganism and flexitarianism, contributes to robust demand for plant-based alternatives in households. Additionally, the availability of diverse and innovative plant-based products in retail stores and online platforms further boosts the segment's growth, making it the leading contributor to the market's expansion in North America.

North America Plant-based Food Market – By Country

Geographically, North America Plant-based Food Market is divided into United States and Canada. The United States dominates the market due to its strong consumer demand for plant-based alternatives, increasing awareness of health and sustainability, and a well-established network of plant-based food producers and retailers. The presence of major industry players, continuous innovation in plant-based products, and growing adoption of vegan and flexitarian diets contribute to its leading position. In contrast, Canada is also witnessing growth, but the market size and adoption rates remain comparatively lower than in the United States.

Competitive Landscape

Major companies operating in North America Plant-based Food Market include Beyond Meat, Impossible Foods, Danone S.A., Nestlé S.A., Tyson Foods, Kellogg Company, Maple Leaf Foods, The Hain Celestial Group, Conagra Brands, Unilever, and Tofurky Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Product Type

• • Meat Alternatives

  • Dairy Alternatives

  • Egg Substitutes

  • Plant-based Snacks

  • Beverages

By Source

• • Soy-based

  • Wheat-based

  • Pea-based

  • Almond-based

  • Other Plant Sources

By Distribution Channel

• • Supermarkets/Hypermarkets

  • Online Retail

  • Specialty Stores

  • Foodservice Channels

By End User

• • Household Consumers

  • Foodservice Industry

By Country

• • United States

  • Canada

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. North America Plant-based Food Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Drivers
         1. Rising consumer awareness of health and environmental benefits
         2. Increasing adoption of vegan and flexitarian diets
         3. Technological advancements in plant-based food production
      2. Restraints
         1. High cost of plant-based food products
         2. Limited consumer awareness in certain regions
         3. Challenges in replicating taste and texture of animal-based foods
      3. Opportunities
         1. Expansion into untapped markets and demographics
         2. Development of innovative plant-based food products
      4. Challenges
         1. Competition from traditional animal-based food industries
         2. Regulatory and labeling complexities
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. North America Plant-based Food Market: Marketing Strategies
5. North America Plant-based Food Market: Pricing Analysis
6. North America Plant-based Food Market Overview
   1. Market Size & Forecast, 2019–2031
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
         1. Meat Alternatives
         2. Dairy Alternatives
         3. Egg Substitutes
         4. Plant-based Snacks
         5. Beverages
      2. By Source
         1. Soy-based
         2. Wheat-based
         3. Pea-based
         4. Almond-based
         5. Other Plant Sources
      3. By Distribution Channel
         1. Supermarkets/Hypermarkets
         2. Online Retail
         3. Specialty Stores
         4. Foodservice Channels
      4. By End User
         1. Household Consumers
         2. Foodservice Industry
      5. By Country
         1. United States
         2. Canada
7. United States Plant-based Food Market
   1. Market Size & Forecast, 2019-2031
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
      2. By Source
      3. By Distribution Channel
      4. By End User
8. Canada Plant-based Food Market
   1. Market Size & Forecast, 2019-2031
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
      2. By Source
      3. By Distribution Channel
      4. By End User
9. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. North America Plant-based Food Market Share Analysis, 2024
      1. Competitive Benchmarking, By Operating Parameters
   3. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
10. Impact of Escalating Geopolitical Tensions on North America Plant-based Food Market
11. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Beyond Meat
    2. Impossible Foods
    3. Danone S.A.
    4. Nestlé S.A.
    5. Tyson Foods
    6. Kellogg Company
    7. Maple Leaf Foods
    8. The Hain Celestial Group
    9. Conagra Brands
    10. Unilever
    11. Tofurky Company
12. Key Strategic Recommendations
13. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       North America Plant-based Food Segmentation

Figure 2       North America Plant-based Food Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       North America Plant-based Food Market Size, By Value (USD Million), 2019-2029

Figure 5       North America Plant-based Food Market Share, By Product Type,  By Value, 2019-2029

Figure 6       North America Plant-based Food Market Share, By Source, By Value, 2019-2029

Figure 7       North America Plant-based Food Market Share, By Distribution Channel,  By Value, 2019-2029

Figure 8       North America Plant-based Food Market Share, By End User, By Value, 2019-2029

Figure 9       North America Plant-based Food Market Share, By Country, By Value, 2019-2029

Figure 10     United States Plant-based Food Market Size, By Value (USD Million), 2019-2029

Figure 11     United States Plant-based Food Market Share, By Product Type,  By Value, 2019-2029

Figure 12     United States Plant-based Food Market Share, By Source, By Value, 2019-2029

Figure 13     United States Plant-based Food Market Share, By Distribution Channel, By Value, 2019-2029

Figure 14     United States Plant-based Food Market Share, By End User, By Value, 2019-2029

Figure 15     Canada Plant-based Food Market Size, By Value (USD Million), 2019-2029

Figure 16     Canada Plant-based Food Market Share, By Product Type,  By Value, 2019-2029

Figure 17     Canada Plant-based Food Market Share, By Source, By Value, 2019-2029

Figure 18     Canada Plant-based Food Market Share, By Distribution Channel, By Value, 2019-2029

Figure 19     Canada Plant-based Food Market Share, By End User, By Value, 2019-2029

List of Tables

Table 1         North America Plant-based Food Market Size, By Value (USD Million), 2019-2029

Table 2         North America Plant-based Food Market Size, By Product Type,  By Value, 2019-2029

Table 3         North America Plant-based Food Market Size, By Source, By Value, 2019-2029

Table 4         North America Plant-based Food Market Size, By Distribution Channel,  By Value, 2019-2029

Table 5         North America Plant-based Food Market Size, By End User, By Value, 2019-2029

Table 6         North America Plant-based Food Market Size, By Country, By Value, 2019-2029

Table 7         United States Plant-based Food Market Size, By Value (USD Million), 2019-2029

Table 8         United States Plant-based Food Market Size, By Product Type,  By Value, 2019-2029

Table 9         United States Plant-based Food Market Size, By Source, By Value, 2019-2029

Table 10       United States Plant-based Food Market Size, By Distribution Channel, By Value, 2019-2029

Table 11       United States Plant-based Food Market Size, By End User, By Value, 2019-2029

Table 12       Canada Plant-based Food Market Size, By Value (USD Million), 2019-2029

Table 13       Canada Plant-based Food Market Size, By Product Type,  By Value, 2019-2029

Table 14       Canada Plant-based Food Market Size, By Source, By Value, 2019-2029

Table 15       Canada Plant-based Food Market Size, By Distribution Channel, By Value, 2019-2029

Table 16       Canada Plant-based Food Market Size, By End User, By Value, 2019-2029

Table 17       Beyond Meat Company Overview

Table 18       Beyond Meat Financial Overview

Table 19       Impossible Foods Company Overview

Table 20       Impossible Foods Financial Overview

Table 21       Danone S.A. Company Overview

Table 22       Danone S.A. Financial Overview

Table 23       Nestlé S.A. Company Overview

Table 24       Nestlé S.A. Financial Overview

Table 25       Tyson Foods Company Overview

Table 26       Tyson Foods Financial Overview

Table 27       Kellogg Company Overview

Table 28       Kellogg Financial Overview

Table 29       Maple Leaf Foods Company Overview

Table 30       Maple Leaf Foods Financial Overview

Table 31       The Hain Celestial Group Company Overview

Table 32       The Hain Celestial Group Financial Overview

Table 33       Conagra Brands Company Overview

Table 34       Conagra Brands Financial Overview

Table 35       Unilever Company Overview

Table 36       Unilever Financial Overview

Table 37       Tofurky Company Overview

Table 38       Tofurky Financial Overview