Middle East And Africa Plant-based Food And Beverage Market 2023-2030

Middle East And Africa Plant-based Food And Beverage Market 2023-2030

MARKET OUTLOOK

According to Triton Market Research’s report, the Middle East and Africa plant-based food and beverage market is expected to expand in value between 2023 and 2030 at a compound annual growth rate of 10.63%. The countries examined in the region include the United Arab Emirates, Saudi Arabia, Turkey, South Africa, and the Rest of the Middle East & Africa.

In Saudi Arabia, the demand for plant-based food and beverage products is on the rise owing to continuous R&D on plant-based meat, the launch of vegan meat products, and influencer promotion of plant-based products. To meet the growing demand, many food stores and restaurants in the Kingdom are expanding their range of vegan and vegetarian products, such as non-dairy milk, vegan butter and cheese, meatless burgers and sausages, and vegan desserts. Hence, these factors are expected to open new opportunities for the plant-based food and beverage market.

Similarly, South Africa is also experiencing a rise in the plant-based food and beverage market as more consumers opt for healthier and more sustainable diets. In this regard, the availability of various plant-based products, such as dairy alternatives, meat substitutes, nutrition bars, bakery products, and beverages, widens the scope and growth of the market.

COMPETITIVE OUTLOOK

Some players in the plant-based food and beverage market include The Hain Celestial Group Inc, Campbell Soup Company, Living Harvest Foods Inc, Meatless Farm, KeVita Inc, Conagra Brands Inc, Blue Diamond Growers, and Beyond Meat Inc.