This report presents a comprehensive picture of market trends and plant-based eating styles. The value of the meat-alternatives market in 2024 is estimated at about 10.3 billion dollars and, with a mild slope, reaches about 14.3 billion by 2028.
The milk-alternatives market, with a value close to 25.2 billion dollars in 2024, is also on a continuous rise. Europe leads in retail sales of plant-based meats, but the highest growth rate in 2025 belonged to Asia-Pacific.
By country, China ranks first in revenue in both the meat-alternatives and milk-alternatives segments. In dietary patterns, India stands out with a higher share of vegetarians and vegans, and the Veganuary campaign has fueled a wave of awareness and trial of plant-based diets; motivations around animals, personal health, and the environment are the most important drivers.
After taking part in this campaign, many people have declared an intention to reduce consumption of animal products or to continue a plant-based diet. On the production and investment side, after a surge in the early years of the recent decade, capital raised for alternative proteins has declined, although leading plant-based food players still have extensive activity. Finally, per-capita consumption and the physical volume of sales in both plant-based meat and plant-based milk categories show an upward but moderate trend.
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Machine-translated from Persian by Namafar; the Persian original is authoritative. Read the original in Persian