Discover What Drives the Global Plant-Based Food and Beverage Market? It is interesting to see the estimates for 2023 in plant-based foods.
The growing demand for plant-based foods and beverages is the result of a modern society looking for solutions to current dietary patterns.
These new eating habits end up being reflected in the financial market, where the production and consumption of foods such as dairy, meat, and plant proteins are growing nationally and internationally.
The strict vegetarian diet, inserted in the context of veganism, is composed entirely of these foods, being able to meet nutritional recommendations.
However, it can also have a low bioavailability of some nutrients, including essential minerals such as iron, calcium, and zinc.
Why are minerals important in the plant-based diet?
Minerals are important in the human diet and in plant-based foods, they are usually present in chemical forms or bound to compounds that tend to influence their absorption and active and functional bioconversion in the body.
Inhibitory compounds such as tannins, phytates and fibers act by interfering in the processes of digestion, absorption and use of essential nutrients, in addition to being harmful to health when ingested in high concentrations.
Vitamin C and carotenoids are known as promoters, which improve the absorption of minerals.
Global Market for Plant-Based Foods and Beverages
The growing concern by population groups to adopt a more natural lifestyle, together with the reduction of the impacts caused to the environment and animals, encourage the food industry to adapt to these demands and start investing in the business model that favors this new market.
The global plant-based food and beverage market is comprised of dairy analogues and proteins from various plants such as peas, beans, lentils and chickpeas, for example, used in the production of various analogous meat products. This was valued in 2020 at around $29.4 billion and could reach almost $162 billion by 2030.
It is interesting to see the estimates of the global plant-based food and beverage market, in US dollars, 2020 to 2030.
Bloomberg Intelligence Research (2021).
Plant-based foods in Brazil
In 2020, a new study conducted by IBOPE and coordinated by The Good Food Institute (GFI) on the Brazilian consumer and the plant-based market. Noted that 39% of participants already consumed plant-based alternatives at least three times a week and that half of Brazilians reduced meat consumption, through substitutions, where 47% was made exclusively by vegetables and grains (GFI BRAZIL, 2020).
In 2022, data shows that 81% of Brazilians have already tried plant-based products, 53% consider these products as substitutes for animal products. 47% use these products as a complement to their diet, especially the younger population, and 60% of participants cite animal welfare as one of the main reasons for consuming plant-based foods, in addition to factors such as environmental preservation (67%) and personal health (97%), according to the Mercy for animals Brazil 2022 study.
What drives the Global Plant-Based Food and Beverage Market?
The main factors driving the growth of the global plant-based food and beverage market are linked to the rise of vegan culture, due to concerns about animal welfare, the environment, and personal health.
Lactose intolerance and the nutritional benefits offered by the diet. Among the restrictive factors limiting market growth are price, as plant-based products are produced on a smaller scale and often cost more than animal-based products, and a lack of awareness or knowledge on the part of consumers.
Looking ahead, the main trends in the plant-based food and beverage sector are related to the growth of flexitarian consumers (those who reduce their consumption of animal-based foods), with companies increasingly betting on alternative proteins and other innovations, and the creation of products that mimic organoleptic characteristics of animal-based products.
Find out what one of the most important companies in ingredients told us about this trend and the market options for innovating in plant-based products.
