Brazil Plant-based Food Market Overview, 2028

There is a rising awareness among Brazilians about the importance of adopting healthier eating habits. Plant-based diets have been associated with various health benefits, such as reduced risk of chronic diseases, lower cholesterol levels, and improved digestion. As a result, more people in Brazil are showing interest in plant-based food as a way to improve their overall health and well-being. Further, Awareness about animal welfare and ethical considerations related to food consumption is growing in Brazil. Plant-based diets offer an alternative that aligns with the values of compassion and non-violence towards animals. As well as the Media outlets and social media influencers play a significant role in shaping public opinion and promoting new trends. In Brazil, influencers, celebrities, and health experts have been endorsing plant-based diets and sharing plant-based recipes, contributing to the societal concern about the plant-based food market. The plant-based food market can also impact the agricultural sector in Brazil. Demand for plant-based ingredients, such as soy, nuts, grains, and fruits, lead to increased production and export opportunities for these commodities, contributing to the country's agricultural GDP. The growth of the plant-based food market can lead to the diversification of the food industry in Brazil. This diversification can provide resilience to the economy by reducing dependence on traditional food products and markets. According to the research report "Brazil Plant Based Food Market Overview, 2028," published by Bonafide Research, the Brazil Plant Based Food Market is expected to grow at an above 10% CAGR rate from 2023 to 2028. Plant-based diets are becoming more popular among Brazilians following vegetarian, vegan, or flexitarian lifestyles. As a result, the demand for plant-based food options has been steadily increasing. The city of São Paulo declared every Monday as "Segunda SEM Carne" (Meatless Monday) to promote plant-based eating and reduce meat consumption. This initiative encourages restaurants, schools, and individuals to participate in meat-free Mondays. Further the Brazil has seen a rise in vegan fast-food chains offering plant-based burgers, hot dogs, and sandwiches. These establishments cater to the growing demand for convenient and delicious plant-based options. Based on the products types includes the Plant-based Meat and Seafood, 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 other. In Brazil the plant based milk is hold the highest market share, Brazilian cuisine often incorporates plant-based ingredients, such as coconut, nuts, and grains, making the transition to plant-based milk a natural extension of traditional culinary practices. Further the plant based Ice cream is having the second highest market share; Brazilian customers are increasingly interested in healthier options to regular dairy ice cream. When compared to other options, plant-based ice cream has fewer calories and cholesterol, which appeals to people who want to indulge in a healthy dessert. The rise of vegan and plant-based diets in Brazil has contributed to the demand for plant-based ice cream. As more people adopt these dietary choices, the demand for dairy-free frozen desserts has increased. A type of Plant-Based Ice Cream Gaining Popularity in Brazil including the Coconut-based ice cream is a popular choice in Brazil. It has a creamy texture and a tropical flavor, making it a favorite among consumers. Further, Cashew-based ice cream is gaining popularity for its rich and creamy texture. Cashews provide a smooth and indulgent base for plant-based ice cream flavors.

National School Feeding Program is a federal program that provides school meals to millions of students across Brazil. While the program includes a mix of food items, there have been discussions about incorporating more plant-based options in school meals to promote healthier and sustainable food choices for students. Further, National Policy on Agroecology and Organic Production is encourages sustainable agricultural practices and promotes the production and consumption of organic and agroecological food. This policy indirectly supports the growth of plant-based food production, as many organic and agroecological systems emphasize plant-based crops. Brazil has made commitments to reduce greenhouse gas emissions and combat climate change. Encouraging the adoption of plant-based diets can be considered a part of broader sustainability efforts to reduce the environmental impact of food production. Further there are many events and trade show that are held in Brazil market, Naturaltech is one of Brazil's largest trade shows for natural and organic products, including plant-based foods. It features a wide range of exhibitors showcasing plant-based food products, ingredients, and innovations. The event also includes educational sessions and discussions on sustainability and healthy living. Further Vegfest Brazil is a well-known vegan festival that promotes plant-based food and sustainable living. The event features food stalls, cooking demonstrations, workshops, and talks on plant-based nutrition and lifestyle. It attracts both industry professionals and the general public. As well as the Feira Vegana is a recurring vegan fair that takes place in different cities across Brazil. The fair features plant-based food vendors, cruelty-free products, and educational activities on veganism and animal rights. There not only the specific store that provides the plant based food in Brazil, there is various distribution channels include the hypermarkets and Supermarkets, Convenience Stores, E-commerce, and others. Among them the Convenience stores are growing segment as the distribution channel, convenience stores in Brazil were emerging as a growing distribution channel for plant-based food products. This trend is primarily driven by changing consumer lifestyles and preferences, as more people seek quick and convenient options for their meals and snacks. Convenience stores offer the advantage of accessibility, longer operating hours, and the ability to cater to consumers’ on-the-go. Additionally, as the demand for plant-based food increases, convenience stores are recognizing the need to expand their product offerings to include plant-based alternatives. There are several top convenience stores that offer the plant based food market including the AM/PM, Extra, Shell Select and more. Star-ups Scenario: • Fazenda Futuro is a Brazilian start-up known for its plant-based meat alternatives. They offer a variety of products, including burgers, sausages, and ground meat, made from ingredients like soy, pea protein, and beets. The company's mission is to provide sustainable and tasty alternatives to traditional meat products. • Although originally founded in Chile, NotCo expanded its operations to Brazil. They are known for their innovative plant-based food products, including NotMilk (plant-based milk) and NotBurger (plant-based burger), which are created using artificial intelligence and plant-derived ingredients. • Goshen is a start-up that focuses on creating plant-based cheeses and dairy alternatives. Their products are made from ingredients like cashews, almonds, and coconut milk, offering a delicious and cruelty-free alternative to dairy cheese. • Vegano Brazil is a start-up that produces a variety of plant-based foods, including vegan cheeses, sausages, and ready-to-eat meals. They are committed to promoting sustainable and compassionate eating habits. • Vegabom is a Brazilian start-up specializing in vegan and gluten-free products. They offer a range of plant-based foods, including vegan meats, frozen meals, and desserts. Considered in this report • Geography: Brazil • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Brazil 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

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.