According to the UnivDatos, the Plant-Based Foods Market has shown promising advancements and we are witnessing a profound transformation in the culinary landscape, driven by passion, creativity, and the unwavering belief that no disorder is too rare to be addressed and as per their “Plant-Based Foods Market” report, the global market was valued at USD 24.03 billion in 2023, growing at a CAGR of 11.7% during the forecast period from 2024 - 2033.
Plant-based foods are those derived from plants, such as fruits, vegetables, grains, legumes, nuts, and seeds. They are rich in nutrients, fiber, and antioxidants, offering various health benefits. These foods are free from animal products, making them suitable for vegetarians and vegans. Plant-based diets can contribute to improved heart health, weight management, and reduced risk of chronic diseases. They provide a sustainable and ethical approach to eating while promoting a diverse and balanced nutritional intake. Let's take a look at these top 14 promising startups that are making strides in plant based foods.
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Recent Developments
Ø July 5th, 2022, Danone launches new Dairy & Plants Blend baby formula in response to parents' desire to have the right food options for vegetarian, flexible, and plant-based diets, while meeting needs their child's specific nutrition. Danone has inherited a leadership position in 50 years of scientific research in breast milk and plant-based foods and developed this new formula for plant-based infant formula and milk through well-known brands such as Alpro and Silk. For example, lactose is an important source of carbohydrates for infants and an essential nutrient found in breast milk. Plant-based consumption is on the rise with more than a third [37%] of EU consumers choosing a vegetarian, vegan or flexitarian diet. And nearly 70% [69%] of parents now prefer their children to eat more plant-based foods.
Ø June 8th, 2022, Australian infant nutrition start-up Sprout Organic has partnered with Amazon, the world's largest e-commerce platform, to bring plant-based baby formula to multiple more parents. The move comes as online sales of infant formula skyrocket and grocery supplies dwindle following the global COVID-19 outbreak. As the United States battles a nationwide shortage of infant formula, expanding online choices is essential for parents.
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Ø India has developed food safety standards for vegan food, including the introduction of a new logo to identify vegan food packages and proper licensing of vegan food manufacturers. The Food Safety and Standards Authority of India (FSSAI) has developed a draft Food Safety and Standards Regulation (Vegetarian Food) 2021. The draft regulation identifies food for the first time in India and introduces safety regulations and labeling rules to identify vegan food products.
Conclusion
As emerging startups continue to embrace the plant-based revolution, the world of culinary possibilities expands even further. These innovative ventures are reimagining familiar favorites and crafting entirely new gastronomic experiences, all while prioritizing health, sustainability, and ethical consumption. With each new creation, these startups propel us toward a future where plant-based foods not only nourish our bodies and delight our taste buds but also shape a more compassionate and environmentally conscious world.
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