Brazil’s Plant-Based Market on Trajectory to Exceed 2026 Growth Expectations
Plant-based sales are seeing an uptick in Brazil, driven by the need to replace meat and dairy for health and ethical reasons and the push for greater sustainability in the food industry. Figures from Euromonitor‘s database, shared with vegconomist by the Good Food Institute Brasil (GFI Brasil), show that the plant-based market in the country has seen significant growth. In 2023 alone, retail sales of plant-based meat and seafood reached R$1.1 billion, a 38% increase compared to the previous year. Not only did sales increase, but the total volume (in tons) of products sold also grew significantly, with a 22% rise compared to the previous period. Meanwhile, plant-based milk, which is the most successful category in the global market with a 66.8% plant-based market share, showed …