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Market value of plant-based alternative products to animal-based ones between 2022 and 2032 (in millions of U.S. dollars)

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Sources

Release date

November 2023

Region

Worldwide

Survey time period

2022 - 2032

Supplementary notes

*Forecasts. The figures for the years between 2023 and 2032 have been calculated by ÌÇÐÄÆƽâ°æ using a compound annual growth rate of 10.79 percent.

Included are dairy-derived products, meat substitutes, nutritional bars, and bakery products based on plants and plant proteins.

Citation formats

Veggies and Veganism: Market Value of the Vegan Industry 2022-2032

Published by
T. Ozbun,
Dec 18, 2025

The veggie trend, which includes vegans, vegetarians, and flexitarians, continues and will continue to gain followers in the coming years. According to the latest industry forecasts, the market value of plant-based protein products as an alternative to those of animal origin will increase fivefold in the coming years, approaching billion U.S. dollars by 2032. Among the different segments, however, the plant-based dairy substitutes segment is one of the most promising.

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Topics

Veganism and vegetarianism in the Netherlands and BelgiumVeganism and vegetarianism in the U.S.Meat substitutes market in the U.S.Veganism and vegetarianism in the UKPlant-based food in Australia
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