Canada Plant-based Food Market Research Report, 2028

In recent years, the plant-based food sector in Canada has undergone spectacular growth, driven by altering consumer tastes, increased health consciousness, environmental concerns, and a rising understanding of the ethical implications of food choices. As Canadians seek more sustainable and nutritious alternatives to traditional animal-based products, the plant-based food market has undergone rapid expansion, offering a diverse array of innovative and delicious plant-based options. From plant-based meats and dairy substitutes to plant-based snacks, beverages, and desserts, the Canadian plant-based food market caters to a broad spectrum of tastes and dietary needs. Embracing a plant-forward approach, Canadians are increasingly incorporating plant-based foods into their diets, either as a primary choice for ethical, health, and environmental reasons or as part of a flexitarian lifestyle. This burgeoning market has drawn significant attention from food manufacturers, investors, and retailers, prompting extensive product innovation and increased availability of plant-based offerings across various Canadian provinces. As the plant-based food movement gains momentum and captures the hearts and palates of consumers nationwide, the Canadian plant-based food market continues to shape the future of the country's food industry, fostering a more sustainable, compassionate, and health-conscious approach to food consumption. According to the research report "Canada Plant Based Food Market Research Report, 2028," published by Actual Market Research, the Canada Plant Based Food Market was valued at more than USD 798 Million in 2022. Canadians are becoming increasingly health-conscious and seeking healthier food options. Plant-based diets are often perceived as more nutritious, as they are rich in vitamins, minerals, fibre, and antioxidants and can be lower in saturated fats and cholesterol compared to traditional animal-based diets. The growing awareness of the potential health benefits of plant-based diets has driven many consumers to explore plant-based food alternatives. Further, the plant-based food industry has experienced remarkable advancements in product innovation and taste improvement. Food manufacturers have developed plant-based alternatives that closely mimic the taste, texture, and appearance of traditional animal-based products, making them more appealing to a broader consumer base. Many producers employ the finest organically grown ingredients to create a genuine premium meal or beverage. Based on the products types includes Plant-based Milk, Plant-based Meat and Seafood (Tofu, Quorn, Seiten, Fish, TVP, Burger Patties, Tempeh, Hot Dogs and Sausages, Meatballs, Ground Meat, Nuggets, Crumbles, Shreds, Crab, shrimp, Others), Plant-based Cheese, Plant-based Desserts, Plant-based Ice Cream, Plant-based Yoghurt, Plant-based Butter, Plant-based Bars, Plant-based Bakery Snacks and Confectionery, Plant-based Creamer, Plant Based Mayonnaise and, Salad Dressing and Others. In Canada, plant-based milk is leading the market with the highest market share due to the fact that plant-based milk offers a solution for those with dairy allergies or lactose intolerance, making it a suitable alternative for individuals who cannot consume cow's milk. As for the types of plant-based milk that are more consumed by Canadian consumers, soy milk and almond milk have traditionally been popular choices. However, oat milk has seen a tremendous surge in popularity in recent years and has become one of the most consumed plant-based milk varieties in Canada. Oat milk's rise in popularity is due to its creamy texture, neutral flavour, and versatility. It can easily be used as a substitute for dairy milk in coffee, tea, smoothies, and cooking, and it froths well for cappuccinos and lattes. Further, plant-based desserts are also a growing market in Canada. Chefs and food manufacturers have been developing innovative plant-based dessert recipes that cater to a broader audience. This includes using plant-based ingredients creatively to create delicious and satisfying desserts. Silken tofu is becoming more common in stores and restaurants.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Canada is known for its cultural diversity, and this is reflected in its approach to plant-based food as well. Various ethnic communities have their own plant-based recipes and dishes, often incorporating traditional ingredients and cooking techniques. This diversity fosters a rich array of plant-based options across the country. Further, Canadian cities, especially major urban centres like Toronto, Vancouver, and Montreal, have seen a surge in vegan and vegetarian restaurants. These establishments offer a wide range of plant-based dishes, from burgers and pizzas to innovative creations using plant-based proteins and locally sourced produce. Canada hosts numerous plant-based food festivals and events throughout the year. These gatherings celebrate the growing interest in plant-based cuisine, allowing people to discover new products, taste dishes, and attend The popularity of plant-based meat substitutes has risen significantly in Canada. Beyond Meat, Impossible Foods, and other brands have expanded their presence in the Canadian market, making it easier for people to adopt a plant-based lifestyle without sacrificing familiar flavours and textures. Canadian consumers increasingly consider the environmental impact of their food choices. Plant-based diets are often seen as a more sustainable option, as they generally have a lower carbon footprint compared to diets based on animal products. Many Canadians prioritise locally sourced and organic produce, which aligns well with plant-based diets. Farm-to-table initiatives and farmers' markets offer a range of fresh fruits and vegetables to support those following plant-based lifestyles. Based on the Distribution channel, which includes the Hypermarkets and Supermarkets, Convenience Stores, E-commerce, and Others, among them the Hypermarkets and Supermarkets held a significant market share in 2022, and further in the future, e-Commerce will grow at the highest growth rate Due to its unparalleled convenience and accessibility to consumers. With just a few clicks, customers can browse and purchase products from the comfort of their homes or on the go. This 24/7 accessibility eliminates geographical barriers and time constraints, making it highly attractive to modern consumers. There are several e-commerce stores that provide a wide range of plant-based foods: Well.ca, Vegan Supply, Spud.ca, Plant-Based Pantry, and more. Recent Development: In May 2022, Danone Canada launched a fresh-new dairy-free beverage called - Nextmil under its Silk Canada brand. In August 2021, Beyond Meat announced its partnership with A&W Canada to launch plant-based chicken nuggets nationwide for a limited time. In July 2020, HumanCo. Holding company that promotes sustainability and healthy living announced the purchase of the majority shares of Coconut Bliss, a maker of organic plant-based ice cream.

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Considered in this report • Geography: Canada • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Canada Plant-based Food with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Plant-based Milk • Plant-based Meat and Seafood (Tofu, Quorn, Seitan, Fish, TVP, Burger Patties, Tempeh, Hot Dogs and Sausages, Meatballs, Ground Meat, Nuggets, Crumbles, Shreds, Crab, shrimp, Others) • Plant-based Cheese • Plant-based Desserts (Cakes, Pastries, Custard, Pudding, etc.) • Plant-based Ice Cream • Plant-based Yogurt • Plant-based Butter • Plant-based Bars (Protein Bars, Energy Bars, Cereal Bars, Fruit & Nut Bars, etc.) • Plant-based Bakery Snacks and Confectionery (Biscuit and Cookies, Bread and Rolls, Chocolate, etc.) • Plant-based Creamer • Plant Based Mayonnaise and Salad Dressing • Others

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By Distribution Channel • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the Plant-based Food industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.