LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET 2021-2028

Consumer Goods & Services | Food & Beverages

LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET 2021-2028

Market by Type, Source, Distributors, and Country | Forecast 2021-2028

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A study by Triton Market Research has concluded that the plant-based food and beverage market in Latin America is likely to progress with a CAGR of 8.28% during the forecast years between 2021 and 2028.


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The countries studied in this market include:

           Brazil

           Mexico

           Rest of Latin America countries

An average of 8% of the population in Latin America and the Caribbean is vegetarian. At a country-specific level, Mexico accounts for the largest population of vegetarians and vegans, with a staggering 20% of the total population of 130 million people. The country is by far the most interesting market in the Latin American plant-based foods and drinks industry.

And it is not just vegetarians and vegans driving the market in this region. In fact, most consumers of plant-based foods and drinks consider themselves flexitarians, and their population is generally higher than those identifying as vegetarian or vegan, at both the regional as well as global level.

Further, in Latin America and the Caribbean, approximately 71 million people fall in the age group of 60 years and above, representing 11.2% of the population. Older adults tend to have lactose intolerance, as they are not able to digest the substance. Therefore, vegan diets are highly recommended for them. The large geriatric population is a key growth factor for the growth of the plant-based food and beverage market.

Conagra Brands is an FMCG company offering packaged food. It operates through four main segments: Refrigerated & Frozen, Grocery & Snacks, Foodservice, and International segments. It has a wide range of plant-based meat substitutes products in its portfolio.  Conagra sells its products under the Marie Callender's, Birds Eye, Healthy Choice, Banquet, Reddi-wip, Slim Jim, Angie's BOOMCHICKAPOP, Vlasic, Earth Balance, Duke's, Gardein, Chef Boyardee, Alexia, and Frontera brands. The company operates in Mexico, among other regions.

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Table of Content

1. LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET – SUMMARY   

2. INDUSTRY OUTLOOK  

2.1. IMPACT OF COVID-19 ON THE PLANT-BASED FOOD AND BEVERAGE INDUSTRY

2.2. KEY INSIGHTS      

2.2.1.   AWARENESS ABOUT ANIMAL HEALTH AND SAFETY       

2.2.2.   MANUFACTURING PLANT EXPANSIONS      

2.2.3.   CONCERNS ABOUT HEALTH AND CHANGING LIFESTYLES       

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1.   THREAT OF NEW ENTRANTS   

2.3.2.   THREAT OF SUBSTITUTE           

2.3.3.   BARGAINING POWER OF BUYERS     

2.3.4.   BARGAINING POWER OF SUPPLIERS

2.3.5.   THREAT OF COMPETITIVE RIVALRY  

2.4. MARKET ATTRACTIVENESS INDEX  

2.5. VENDOR SCORECARD 

2.6. KEY MARKET STRATEGIES     

2.6.1.   PRODUCT LAUNCHES    

2.6.2.   CONTRACT & PARTNERSHIPS

2.7. MARKET DRIVERS         

2.7.1.   SHIFT TOWARDS VEGANISM    

2.7.2.   RISING LACTOSE INTOLERANCE        

2.7.3.   ADVANTAGES OF PLANT-BASED DIET          

2.8. MARKET CHALLENGES

2.8.1.   HIGH COST OF PLANT-BASED PRODUCTS 

2.8.2.   LIMITED AWARENESS    

2.8.3.   DISPARITY IN PERCEPTION OF DAIRY AND PLANT-BASED FOOD AND BEVERAGES 

2.9. MARKET OPPORTUNITIES       

2.9.1.   AVAILABILITY OF SUSTAINABLE PRODUCTS AND RECYCLABLE PACKAGING   

2.9.2.   REVOLUTIONARY MANUFACTURING PROCEDURES       

2.9.3.   INTRODUCTION OF BRAND NEW PRODUCTS        

3. LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET OUTLOOK – BY TYPE     

3.1. DAIRY         

3.2. MEAT          

3.3. OTHER TYPES     

4. LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET OUTLOOK – BY SOURCE     

4.1. SOY 

4.2. WHEAT       

4.3. ALMOND    

4.4. CORN         

4.5. OTHER SOURCES          

5. LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET OUTLOOK – BY DISTRIBUTORS

5.1. SUPERMARKETS/HYPERMARKETS 

5.2. CONVENIENCE STORES          

5.3. SPECIALTY STORES      

5.4. ONLINE RETAIL   

5.5. OTHER DISTRIBUTORS 

6. LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET – REGIONAL OUTLOOK     

6.1. BRAZIL

6.2. MEXICO

6.3. REST OF LATIN AMERICA                    

7. COMPETITIVE LANDSCAPE 

7.1. AMY’S KITCHEN              

7.2. BEYOND MEAT INC        

7.3. BLUE DIAMOND GROWERS     

7.4. CALIFIA FARMS               

7.5. CONAGRA BRANDS       

7.6. DAIYA FOODS INC          

7.7. DANONE SA

7.8. FIELD ROAST GRAIN MEAT CO INC

7.9. IMPOSSIBLE FOODS INC          

7.10. KIKKOMAN CORPORATION               

7.11. MORNINGSTAR FARMS                      

7.12. MOVING MOUNTAINS              

7.13. PACIFIC FOODS OF OREGON                      

7.14. QUORN FOODS 

7.15. SUNFED              

7.16. SWEET EARTH INC                  

7.17. THE HAIN CELESTIAL GROUP INC  

7.18. YOFIX PROBIOTICS

8. RESEARCH METHODOLOGY & SCOPE     

8.1. RESEARCH SCOPE & DELIVERABLES                    

8.2. SOURCES OF DATA                   

8.3. RESEARCH METHODOLOGY  

List of Tables

TABLE 1: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: VEGANISM AROUND THE WORLD

TABLE 4: POPULATION PERCENTAGE OF LACTOSE-INTOLERANT PEOPLE ACROSS THE WORLD

TABLE 5: ANNUAL CONSUMPTION OF COW MILK WORLDWIDE BY COUNTRY

TABLE 6: NEW PRODUCT LAUNCHES OF PLANT-BASED PRODUCTS

TABLE 7: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY TYPE, 2021-2028 (IN $ MILLION)

TABLE 8: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOURCE, 2021-2028 (IN $ MILLION)

TABLE 9: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY DISTRIBUTORS, 2021-2028 (IN $ MILLION)

TABLE 10: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY COUNTRY, 2021-2028 (IN $ MILLION)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY TYPE, 2020 & 2028 (IN %)

FIGURE 3: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY DAIRY, 2021-2028 (IN $ MILLION)

FIGURE 4: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY MEAT, 2021-2028 (IN $ MILLION)

FIGURE 5: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY OTHER TYPES, 2021-2028 (IN $ MILLION)

FIGURE 6: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOURCE, 2020 & 2028 (IN %)

FIGURE 7: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SOY, 2021-2028 (IN $ MILLION)

FIGURE 8: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY WHEAT, 2021-2028 (IN $ MILLION)

FIGURE 9: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY ALMOND, 2021-2028 (IN $ MILLION)

FIGURE 10: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY CORN, 2021-2028 (IN $ MILLION)

FIGURE 11: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY OTHER SOURCES, 2021-2028 (IN $ MILLION)

FIGURE 12: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY DISTRIBUTORS, 2020 & 2028 (IN %)

FIGURE 13: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SUPERMARKETS/HYPERMARKETS, 2021-2028 (IN $ MILLION)

FIGURE 14: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY CONVENIENCE STORES, 2021-2028 (IN $ MILLION)

FIGURE 15: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY SPECIALTY STORES, 2021-2028 (IN $ MILLION)

FIGURE 16: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY ONLINE RETAIL, 2021-2028 (IN $ MILLION)

FIGURE 17: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, BY OTHER DISTRIBUTORS, 2021-2028 (IN $ MILLION)

FIGURE 18: LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 19: BRAZIL PLANT-BASED FOOD AND BEVERAGE MARKET 2021-2028 (IN $ MILLION)

FIGURE 20: MEXICO PLANT-BASED FOOD AND BEVERAGE MARKET 2021-2028 (IN $ MILLION)

FIGURE 21: REST OF LATIN AMERICA PLANT-BASED FOOD AND BEVERAGE MARKET 2021-2028 (IN $ MILLION)

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