Summary

The plant-based food industry in Argentina is experiencing a notable surge in popularity and growth as consumers increasingly embrace healthier, more sustainable, and ethical food choices. With a rich culinary tradition that often incorporates plant-based ingredients, Argentina's shift towards plant-based foods is a natural extension of its diverse and vibrant food culture. As health-conscious and environmentally aware consumers seek alternatives to traditional animal-derived products, the plant-based food sector in Argentina is witnessing the emergence of innovative startups, expanding product lines from established companies, and a growing presence in supermarkets, restaurants, and cafes. Argentina's vegetarian and vegan communities have played a significant role in promoting plant-based diets. Over the years, these communities have grown, advocating for compassionate eating habits and organising events to raise awareness about plant-based food options. As global awareness about health and sustainability increased, more Argentinians began to explore plant-based diets. Concerns about the environmental impact of animal agriculture and the health benefits of plant-based eating influenced individuals and families to adopt plant-based food choices. Chefs and food entrepreneurs in Argentina have been creatively incorporating plant-based ingredients into traditional dishes and creating new plant-based recipes. This culinary innovation has contributed to the growth of the plant-based food industry and its acceptance among diverse audiences.

According to the research report "Argentina Plant Based Food Market Overview, 2028," published by Bonafide Research, the Argentina Plant Based Food Market was valued at more than USD 319 Million in 2022. Argentina, known for its love of beef and traditional meat-centric cuisine, is witnessing a significant increase in the demand for plant-based food alternatives. This shift in consumer preferences is driven by factors such as health consciousness, environmental concerns, and ethical considerations related to animal welfare. Further, the plant-based food trend has extended to the fast-food industry in Argentina. Several fast-food chains and restaurants have started offering plant-based burger options, catering to the growing demand for quick and convenient plant-based meals. As well as several Argentine celebrities, including actors, musicians, and athletes, who have embraced plant-based diets and publicly promoted the benefits of plant-based eating, their influence has contributed to raising awareness and interest in plant-based food among the general population. Products types segment 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 Argentina the plant based milk is leading the market, further the plant based meat and sea food market will grow at the second high market share during forecast period, With increasing awareness of health and wellness, many consumers in Argentina are seeking healthier dietary options. Plant-based meat and seafood alternatives offer a way to enjoy familiar flavours and textures without the health concerns associated with traditional animal-based products, such as saturated fats and cholesterol. Burgers made from plant-based ingredients, such as soy, pea protein, wheat, and mushrooms, were becoming increasingly popular. These burgers offered a meaty texture and a similar taste to traditional beef burgers. Further, plant-based sausages made from a variety of plant proteins, herbs, and spices were becoming a favourite among consumers. These sausages provided a convenient and familiar option for grilling and cooking.

Based on the distribution channel, it includes hypermarkets and Supermarkets, Convenience Stores, E-commerce, and others. In Argentina, supermarkets and hypermarkets play a crucial role due to their widespread availability and easy accessibility to a large portion of the population in both urban and rural areas. Their extensive network of stores ensures that plant-based food products reach a broader consumer base, including those living in smaller towns and cities. There are various hypermarkets and supermarkets that offer a wide range of plant-based foods, including Carrefour, Walmart, Coto, Jumbo, and many more.
The Ministry of Agriculture, Livestock, and Fisheries is responsible for promoting and regulating agricultural and livestock activities in Argentina. While its primary focus is on traditional agriculture and livestock, its policies and support for sustainable and environmentally friendly agriculture can also be beneficial to the plant-based food sector. The National Institute of Agricultural Technology is a government research institute that conducts research and provides technical assistance to the agricultural sector. Their work includes research and support for plant-based crops and agricultural practises. The Argentine government has been working to promote sustainable agriculture and environmental protection. Initiatives that encourage sustainable farming practises and support environmentally friendly agricultural projects can benefit the production of plant-based ingredients. Government health ministries and agencies have nutrition and public health programmes that promote healthy eating habits. These programmes may include information about the benefits of incorporating plant-based foods into one's diet.

Start-ups Scenario:
• Good Natured is an Argentine start-up that specializes in plant-based protein products. They produce a range of plant-based meats, such as burgers, sausages, and nuggets, using ingredients like soy, wheat, and peas.
• Miga Food is an Argentine start-up that produces vegan and gluten-free products. They offer plant-based sandwiches and empanadas with unique fillings and flavors.
• VRevolution is an Argentine start-up focused on creating plant-based meat alternatives. Their products are designed to mimic the taste and texture of traditional meats while being entirely plant-based.
• Veega is an Argentine start-up that offers a variety of vegan and plant-based products. They produce plant-based meats, cheeses, and snacks to cater to the growing demand for plant-based alternatives.
• Green Mama is an Argentine start-up that produces vegan and organic food products. They offer a range of plant-based alternatives, including plant-based milks, meat substitutes, and snacks.

Considered in this report
• Geography: Argentina
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Argentina 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.

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Table of Contents

Table of Contents

1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. Geography
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Argentina Macro Economic Indicators
5. Market Dynamics
5.1. Key Findings
5.2. Key Developments - 2021
5.3. Market Drivers & Opportunities
5.4. Market Restraints & Challenges
5.5. Market Trends
5.6. Covid-19 Effect
5.7. Supply chain Analysis
5.8. Policy & Regulatory Framework
5.9. Industry Experts Views
6. Argentina Plant-based Food Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast, By Product Type
6.3. Market Size and Forecast, By Distribution Channel
7. Argentina Plant-based Food Market Segmentations
7.1. Argentina Plant-based Food Market, By Product Type
7.1.1. Argentina Plant-based Food Market Size, By Plant-based Milk, 2017-2028
7.1.2. Argentina Plant-based Food Market Size, By Plant-based Meat and Seafood, 2017-2028
7.1.3. Argentina Plant-based Food Market Size, By Plant-based Cheese, 2017-2028
7.1.4. Argentina Plant-based Food Market Size, By Plant-based Desserts, 2017-2028
7.1.5. Argentina Plant-based Food Market Size, By Plant-based Ice Cream, 2017-2028
7.1.6. Argentina Plant-based Food Market Size, By Plant-based Yogurt, 2017-2028
7.1.7. Argentina Plant-based Food Market Size, By Plant-based Butter, 2017-2028
7.1.8. Argentina Plant-based Food Market Size, By Plant-based Bars, 2017-2028
7.1.9. Argentina Plant-based Food Market Size, By Plant-based Bakery Snacks and Confectionery, 2017-2028
7.1.10. Argentina Plant-based Food Market Size, By Plant-based Creamer, 2017-2028
7.1.11. Argentina Plant-based Food Market Size, By Plant Based Mayonnaise and Salad Dressing, 2017-2028
7.1.12. Argentina Plant-based Food Market Size, By Others, 2017-2028
7.2. Argentina Plant-based Food Market, By Distribution Channel
7.2.1. Argentina Plant-based Food Market Size, By Hypermarkets and Supermarkets, 2017-2028
7.2.2. Argentina Plant-based Food Market Size, By Convenience Stores, 2017-2028
7.2.3. Argentina Plant-based Food Market Size, By E-Commerce, 2017-2028
7.2.4. Argentina Plant-based Food Market Size, By Others, 2017-2028
8. Argentina Plant-based Food Market Opportunity Assessment
8.1. By Product Type, 2023 to 2028
8.2. By Distribution Channel, 2023 to 2028
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.1.1. Company Snapshot
9.2.1.2. Company Overview
9.2.1.3. Financial Highlights
9.2.1.4. Geographic Insights
9.2.1.5. Business Segment & Performance
9.2.1.6. Product Portfolio
9.2.1.7. Key Executives
9.2.1.8. Strategic Moves & Developments
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer

List of Figures

Figure 1: Argentina Plant-based Food Market Size By Value (2017, 2022 & 2028F) (in USD Million)
Figure 2: Market Attractiveness Index, By Product Type
Figure 3: Market Attractiveness Index, By Distribution Channel
Figure 4: Porter's Five Forces of Argentina Plant-based Food Market

List of Table

Table 1 : Influencing Factors for Global Plant-based Food Market, 2022
Table 2 : Argentina Plant-based Food Market Size and Forecast, By Product Type (2017 to 2028F) (In USD Billion)
Table 3 : Argentina Plant-based Food Market Size and Forecast, By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 4: Argentina Plant-based Food Market Size of Plant-based Milk (2017 to 2028) in USD Million
Table 5: Argentina Plant-based Food Market Size of Plant-based Meat and Seafood (2017 to 2028) in USD Million
Table 6: Argentina Plant-based Food Market Size of Plant-based Cheese (2017 to 2028) in USD Million
Table 7: Argentina Plant-based Food Market Size of Plant-based Desserts (2017 to 2028) in USD Million
Table 8: Argentina Plant-based Food Market Size of Plant-based Ice Cream (2017 to 2028) in USD Million
Table 9: Argentina Plant-based Food Market Size of Plant-based Yogurt (2017 to 2028) in USD Million
Table 10: Argentina Plant-based Food Market Size of Plant-based Butter (2017 to 2028) in USD Million
Table 11: Argentina Plant-based Food Market Size of Plant-based Bars (2017 to 2028) in USD Million
Table 12: Argentina Plant-based Food Market Size of Plant-based Bakery Snacks and Confectionery (2017 to 2028) in USD Million
Table 13: Argentina Plant-based Food Market Size of Plant-based Creamer (2017 to 2028) in USD Million
Table 14: Argentina Plant-based Food Market Size of Plant Based Mayonnaise and Salad Dressing (2017 to 2028) in USD Million
Table 15: Argentina Plant-based Food Market Size of Others (2017 to 2028) in USD Million
Table 16: Argentina Plant-based Food Market Size of Hypermarkets and Supermarkets (2017 to 2028) in USD Million
Table 17: Argentina Plant-based Food Market Size of Convenience Stores (2017 to 2028) in USD Million
Table 18: Argentina Plant-based Food Market Size of E-Commerce (2017 to 2028) in USD Million
Table 19: Argentina Plant-based Food Market Size of Others (2017 to 2028) in USD Million