Brazil: Brazil's Plant-Based Food Trends
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Brazil offers a variety of opportunities for American exporters of plant-based products. As the market evolves, plant-based products have become cheaper and more competitive against traditional food products. The country has seen an increasingly amount of people becoming vegetarian, which drives the demand for products free from animal protein. Industry players reported yearly growth rate above twenty percent in the last couple of years. Moreover, the segment is expected to increase in sales in 2020; however, the COVID-19 pandemic may prevent the sector from keeping the same or higher growth rate. Although it is still a niche, the market for plant-based foods have been evolving rapidly in the country and therefore it offers good opportunity for American exporters.