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

Report Description

MENA Plant-Based Food Market Size and Forecast

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.

MENA Plant-Based Food Market Analysis

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.

MENA Plant-Based Food Market Trends

“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.

MENA Plant-Based Food Market Report Coverage

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.

Customization Options:

The MENA plant-based food market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the MENA Plant-Based Food Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA Plant-Based Food Market were the three major steps undertaken to create and analyze the adoption of Home Healthcare in major countries in MENA. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA Plant-Based Food Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the MENA Plant-Based Food Market through company internal sources such as annual reports & and financial statements, performance presentations, press releases, etc., and external sources including journals, news & and articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the MENA Plant-Based Food Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & and sub-segments for major regions. Major segments are included in the report as product type, source, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA Plant-Based Food Market. Further, we conducted factor analysis using dependent and independent variables such as the product type, source, and distribution channel of the MENA Plant-Based Food Market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MENA Plant-Based Food Market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA Plant-Based Food Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the MENA Plant-Based Food Market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the MENA Plant-Based Food Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA Plant-Based Food Market. data was split into several segments and sub-segments after studying various parameters and trends in the areas of the product type, source, and distribution channel in the MENA Plant-Based Food Market.

The main objective of the MENA Plant-Based Food Market Study

The current & and future market trends of the MENA Plant-Based Food Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the MENA Plant-Based Food Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the product type, source, and distribution channel.
• Define and analyze the regulatory framework for the surgical instrument
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the MENA Plant-Based Food Market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the MENA Plant-Based Food Market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

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