Canada Plant-Based Food & Beverages by source

Growth Outlook

• The Based Food & Beverages by source portion of the Canada Plant market is on a steady long-term growth path. Segment value stands at roughly USD 1471 Mn in 2026 and is projected to reach USD 1845 Mn by 2028 — a gain of about 25% over the forecast period, translating to a CAGR in the double digits.
• In recent years, there has been a significant demand for plant-based food and beverages in Canada. This trend is not limited to only vegetarians and vegans, but has expanded to a wider population who are seeking healthier and more sustainable options for their diet.
• What the regional split looks like (2026): Others leads, holding roughly 46% of segment value — the single largest regional share. Soy is the second-largest contributor. Pea, Wheat, Almond, Coconut and Cashew make up the remainder, in descending order.
• By 2028, Others alone is expected to reach USD 843 Mn, with Soy at USD 355 Mn.

Market Dynamics

In recent years, there has been a significant demand for plant-based food and beverages in Canada. This trend is not limited to only vegetarians and vegans, but has expanded to a wider population who are seeking healthier and more sustainable options for their diet. One of the main reasons behind this demand is the growing health consciousness among Canadians. People are becoming more aware of the potential health benefits of consuming a plant-based diet, such as lower cholesterol levels, reduced risk of heart diseases and certain types of cancers, and improved overall well-being. This has led to an increased demand for plant-based alternatives to traditional meat and dairy products. Moreover, the growing concern for the environment and animal welfare are also driving the demand for plant-based foods and beverages. As consumers become more informed about the negative impacts of industrial animal farming on the environment and animal welfare, they are actively seeking out more sustainable and ethical food options. This has resulted in a rise in the popularity and availability of plant-based products in the market. In addition, the versatility of plant-based foods and beverages is another factor contributing to their demand in Canada.

With advancements in food technology, manufacturers are now able to create plant-based alternatives to almost any type of food, from plant-based meat substitutes to dairy-free milk and cheese options. This allows individuals to adhere to their dietary restrictions or preferences without sacrificing taste or variety in their meals. The increasing availability of plant-based options in restaurants, grocery stores, and online retailers is another driving force behind the demand for these products. As people are becoming more conscious about their health and the environment, they are actively seeking out these products and this has led to an increase in their availability and variety in the market. Moreover, the government of Canada has also taken initiatives to promote and support plant-based foods and beverages. In 2019, Canada's Food Guide was updated to emphasize the importance of including more plant-based foods in one's diet. This has created more awareness and acceptance of plant-based products among Canadians. In conclusion, the demand for plant-based food and beverages in Canada is driven by factors such as health consciousness, environmental and ethical concerns, versatility, and increased availability.

With the growing popularity and support for plant-based options, it is evident that this trend is here to stay and will continue to shape the food and beverage industry in Canada.

Research Methodology

Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2024.