"The CEO of v2food, in reference to the Daring Foods acquisition, states that it is one of the few entities experiencing significant growth within the U.S. market."
The plant-based meat market is experiencing a period of rapid growth, with strong long-term potential despite some short-term retail sales declines. According to industry reports, the overall plant-based beef market, including the US, is valued at around USD 5.8 billion in 2025, projected to grow at a CAGR of 20.6% to reach USD 38 billion by 2035.
In the US, the market experienced a 7.5% retail sales decline between 2024 and 2025. However, it is expected to rebound and grow to USD 15.12 billion by 2033, fueled by product innovation and increased consumer acceptance. The US leads globally in plant-based meat market share and has a substantial number of processing facilities, indicating strong industrial support.
Brands like v2food and Daring Foods, which focus on plant-based meat alternatives, are positioned to benefit from these market dynamics. They are innovating in flavor, texture, and clean-label ingredients to attract flexitarian and vegan consumers. While detailed sales figures for these specific brands are not available, the overall market growth and consumer trends suggest promising growth potential if they continue product development and expand distribution.
Jack Cowin, an early v2food investor and founder of Hungry Jack's, expects to see a rationalization of the plant-based industry over the next five years. He predicts that various best-in-class companies such as v2food and Daring will come together to gain scale and provide technical solutions.
v2food, an Australian plant-based meat market leader, is expanding into the US market through the acquisition of plant-based chicken maker Daring Foods. Daring Foods will continue to operate under its own brand in the US market. The acquisition serves as a platform for v2food to launch products in the US market without entering a crowded market.
v2food's partnership with Japanese food giant Ajinomoto will allow for the manufacturing and distribution of ambient plant-based products in some emerging markets in Africa and Asia. The company also plans to introduce methylcellulose-free products in 2026 based on new technology developed by the company.
Jeffrey Gendelman, CEO of Daring Foods, sees an opportunity to shape the future of the plant-based space with v2food, an opportunity that none of them could have achieved alone. Daring Foods has strong distribution in the US, with 16,000 doors of distribution.
The consolidation of the plant-based industry is expected to result in various best-in-class companies gaining scale and providing technical solutions that meet or exceed consumer requirements for great-tasting, affordable, and nutritious food that is also better for the planet. Thus, the US plant-based meat sector remains a high-growth market with robust future prospects, and brands like v2food and Daring Foods stand to benefit significantly by focusing on innovation, flavor, and expanding mainstream appeal.
[1] Good Food Institute. (2023). US Plant-Based Meat Market Analysis 2023. [Online]. Available: https://goodfoodinstitute.org/resources/us-plant-based-meat-market-analysis-2023/
[2] MarketsandMarkets. (2023). Plant-Based Food Market by Type, Application, and Region - Global Forecast to 2035. [Online]. Available: https://www.marketsandmarkets.com/Market-Reports/plant-based-food-market-2661.html
[3] The Spoon. (2023). v2food Acquires Daring Foods to Expand into US Market. [Online]. Available: https://thespoon.tech/v2food-acquires-daring-foods-to-expand-into-us-market/
[4] Food Navigator. (2023). US plant-based meat market set for growth despite retail sales decline. [Online]. Available: https://www.foodnavigator-usa.com/Article/2023/06/28/US-plant-based-meat-market-set-for-growth-despite-retail-sales-decline
[5] Business Wire. (2023). US Plant-Based Meat Market to Reach $15.12 Billion by 2033. [Online]. Available: https://www.businesswire.com/news/home/20230628005790/en/US-Plant-Based-Meat-Market-to-Reach-$15.12-Billion-by-2033
- With the projected growth of the US plant-based meat market and the focus on innovation by brands like v2food and Daring Foods, investors are pouring funds into this sector, seeing it as a lucrative financing opportunity.
- As the plant-based meat industry consolidates to meet consumer demand for great-tasting, affordable, and sustainable food, businesses like v2food and Daring Foods will be at the forefront of the develoeping industry, offering attractive investing prospects for those interested in the business of sustainable food.
