MENA Plant-Based Food Market: Current Analysis and Forecast (2023-2030)

The MENA Plant-Based Food market was valued at USD 977.20 million in the year 2022 and is expected to grow at a strong CAGR of around 18.9% during the forecast period. This is mainly due to the increasing health consciousness among consumers, rising awareness of environmental sustainability, and growing concerns about animal welfare. Additionally, government initiatives promoting healthier lifestyles and sustainable agriculture practices contribute to the expansion of this market. As consumers become more mindful of their dietary choices and seek alternatives to traditional animal-based products, the demand for plant-based options continues to rise steadily across the MENA region. This trend is further amplified by the availability of innovative plant-based products that closely mimic the taste, texture, and nutritional profile of their animal-based counterparts, making plant-based eating more accessible and appealing to a wider audience. With favorable market conditions and a growing consumer base, the MENA plant-based food market presents significant opportunities for companies to innovate, diversify their product offerings, and establish a strong presence in this rapidly expanding sector.

Some of the major players operating in the market include Danone S.A.; Beyond Meat Inc.; Upfield; SADAFCO; Rude Health; Blue Diamond Growers; Superbom Alimentos; Meatless Farm; Al Islami Foods; and VBites Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

"Amongst product type, the meat alternatives category dominates the MENA Plant-Based Food Market."

Based on the product type, the market is segmented into meat alternatives, dairy alternatives, and others. Among them, the dairy alternatives category dominates the MENA plant-based food market due to rising concerns about health and the environment, consumers are turning to meat alternatives such as plant-based burgers, sausages, and nuggets as substitutes for traditional meat products. These alternatives offer a familiar taste and texture while addressing ethical concerns associated with animal agriculture. Moreover, the growing popularity of flexitarian and vegetarian diets further drives demand for meat alternatives in the MENA region, making it a dominant segment in the plant-based food market.

"Amongst distribution channel, the offline category dominates the MENA Plant-Based Food Market."

Based on the distribution channel, the market is segmented into online and offline. Among them, the offline category dominates the MENA plant-based food market as consumers continue to rely on traditional retail outlets for purchasing plant-based products. Supermarkets, health food stores, and specialty stores provide physical access to a wide range of plant-based options, allowing consumers to explore and purchase products in-store. Despite the growth of online channels, the offline distribution segment remains dominant in the MENA region, providing a crucial avenue for reaching consumers and driving sales in the plant-based food market.

"Saudi is expected to dominate the during the forecast period."

Saudi Arabia's Plant-Based Food Market is experiencing robust growth driven by various factors. With increasing health consciousness and environmental awareness among consumers, there is a growing demand for plant-based alternatives in Saudi Arabia. This demand is further fueled by government initiatives promoting healthier lifestyles and sustainable agriculture practices. For instance, in 2023, the Kingdom announced the development of a USD 10 billion action plan to boost domestic production, diversify and localize food sources, and reduce dependence on imports. Opportunities abound for businesses to capitalize on this growing trend by introducing innovative plant-based products tailored to local tastes and preferences. Key trends shaping the market include the rising popularity of plant-based meat substitutes and the emergence of functional plant-based foods enriched with additional health benefits. Moreover, Saudi Arabia's well-developed infrastructure and thriving retail sector provide excellent connectivity for plant-based food companies to reach consumers effectively, driving further market growth.

Frequently Asked Questions (FAQ)

Q1: What is the current market size and growth potential of the MENA Plant-Based Food Market?

Ans: The MENA Plant-Based Food Market was valued at USD 977.20 million in 2022 and is expected to grow at a CAGR of 18.9% during the forecast period (2023-2030).

Q2: What are the driving factors for the growth of the MENA Plant-Based Food Market?

Ans: Increasing awareness of animal welfare issues.

Q3: Which segment has the largest share of the MENA plant-based food market by product type?

Ans: The meat alternatives segment has the largest share of the MENA plant-based food market by product type.

Q4: What are the emerging technologies and trends in the MENA Plant-Based Food Market?

Ans: The increasing popularity of plant-based meat substitutes

Q5: Which region will dominate the MENA Plant-Based Food Market?

Ans: Saudi Arabia is expected to dominate the market during the forecast period.

Q6: Who are the key players operating in the MENA Plant-Based Food Market?

Ans: Danone S.A.; Beyond Meat Inc.; Upfield; SADAFCO; Rude Health; Blue Diamond Growers; Superbom Alimentos; Meatless Farm; Al Islami Foods; and VBites

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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