Plant-Based: The Flavor Future of Vegan Food

A recent report forecasting the global plant-based food and beverage market for 2021-2028 projects a compound annual growth rate of 9.29% over the next six years. Plant-based food and vegan consumption have become a trend, with veganism emerging as a conscious lifestyle choice that considers both personal health and the entire ecosystem, including the environment.

The plant-based market in Asia is in a steady growth phase. Particularly during the COVID-19 pandemic, the number of consumers choosing plant-based diets surged dramatically. In 2020, the Asian plant-based market was already valued at USD 17.1 billion. Regionally, North America currently holds the largest share of the global market. However, during the forecast period, the Asia-Pacific region is expected to become the most profitable market, projected to surge 200% by 2025.

Plant-Based Foods Emerge Into the Spotlight

Despite the economic slowdown of recent years, health-related products have continued to perform well. Sports nutrition is considered the next frontier of the health industry, especially after the pandemic, with sports nutrition products gaining even more consumer favor and holding great commercial development potential for the future.

At the same time, plant-based foods have gradually entered consumer awareness. Plant-based refers to using plant protein as a substitute protein in food products, but the requirements for this substitution are higher than simple imitation meat or vegetarian food, because the goal is to replicate the structural and taste experience of animal products. The rise of plant-based foods stems from public concern for health and sustainable development. Plant protein is gradually becoming the nutrition market trend.

The Global Plant-Based Snack Market

According to a Further Market Insights report, in 2019, the global plant-based snack market was valued at USD 34.69 billion. From 2018 to 2028, the compound annual growth rate reaches an impressive 8.7%, with the market expected to reach USD 73.61 billion by the end of 2028.

Increased health awareness has sparked consumer interest in plant-based snacks. As obesity, cardiovascular disease, and other chronic conditions continue to rise, consumers are rapidly recognizing the benefits of plant-based diets, stimulating demand for plant-based snacks. Today, snacks featuring fruits, vegetables, seeds, or mixed ingredients enjoy a growing market, and this trend will continue to accelerate.

Currently, the conventional segment holds the leading position in the plant-based snack market. However, during the forecast period, the organic segment is expected to exhibit higher growth rates.

Vegan Cosmetics and Fashion Accessories

Not just in the food industry, plant-based veganism is now thriving in cosmetics and other daily consumer goods as well as fashion accessories. Since launching VEGAN certification services in 2020, SINOQUAL has successfully obtained vegan certification for facial mask sheets, soft cotton towels, color cosmetics, and daily skincare products for multiple domestic companies. Zhucheng Ailing Bags & Fashion Accessories Co., Ltd. also obtained international VEGAN certification for their bag products with SINOQUAL assistance.

Whether in the HALAL and KOSHER certification field that bears the mark of cleanliness, or in the VEGAN certification field that symbolizes environmental protection and health, SINOQUAL has always been at the forefront of the certification service industry, helping quality domestic enterprises set sail toward broader international markets with its Professional, Focused, Dedicated service philosophy.

FAQ

What is the growth outlook for the plant-based food market?
According to the report cited, the global plant-based food and beverage market is projected to grow at a CAGR of approximately 9.29% from 2021 to 2028. The Asian plant-based market was already valued at USD 17.1 billion in 2020, with the Asia-Pacific region expected to become the most profitable market, projected to surge 200% by 2025.
What is plant-based food?
Plant-based refers to using plant protein as a substitute protein in food products, with requirements higher than traditional imitation meat or vegetarian food. The goal is to replicate the structural and taste experience of animal products. Its rise stems from public concern for health and sustainable development.
Do consumers only want protein from plant-based products?
Not just protein. The article points out that consumers seek comprehensive nutrition and functional health characteristics beyond just protein, including fiber, antioxidants, probiotics, whole grains, and vitamins as expandable directions for plant-based products.
Which plant-based products has SINOQUAL certified as vegan?
For example, SINOQUAL obtained VEGAN certification for instant cereal powder from Heilongjiang Baigu Foods Co., Ltd. and organic konjac noodles, konjac oat noodles, and pea fiber noodles from Huizhou Wangjia Foods Co., Ltd. In the cosmetics and fashion accessories field, SINOQUAL also obtained certification for multiple companies facial mask sheets, soft cotton towels, color cosmetics, skincare products, and Zhucheng Ailing bag products.