Global Plant-Based Beverages Market, By Type (Milk, Others), Source (Almond, Soy, Coconut, Rice and Others), Function (Cardiovascular Health, Cancer Prevention, Bone Health, Lactose Free Alternative and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The plant-based beverages market is projected to reach at USD 32.29 billion by 2028 growing at a CAGR of 9.07% for the forecast period of 2021 to 2028. Growing number of vegan population and health benefits provided by plant-based beverages are major factor contributing to the growth of plant-based beverages market during the forecasted period.
Plant-based beverages are also termed as plant-based milk or plant milk. Plant-based beverages are extracted from plant material including seeds grain and water as a vehicle. These are often used as alternative for dairy milk and mostly preferred by the consumers who are prone to lactose intolerance. The almond milk is the most popular plant-based milk.
Growing number of vegan population and increasing awareness regarding healthy and cruelty free food items are major factor fuelling the growth of plant-based beverages market. Additionally, increasing number of lactose intolerance cases particularly in developed region have been resulting into increasing scope for vegan beverages which in turn drives the growth of plant-based beverages market. Furthermore, various benefits such as to improve muscular and mental health provided by plant-based beverages is likely to accelerate the growth of plant-based beverages market. Rising awareness regarding health benefits provided by vegetables, fruits and nuts are contributing to growth of the plant-based beverages market.
However, fluctuations in the prices of raw material required and high cost of products are anticipated to restrict the growth of plant-based beverages market. Nonetheless, growing demand from vegan population and introduction of various flavours into the market are expected to generate lucrative opportunities for plant-based beverages market over the forecasted period. Whereas, plant-based beverages are easily purchased in developed countries but industry is facing challenges in expanding sales in developing countries for the plant-based beverages market.
This plant-based beverages market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research plant-based beverages market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Plant-Based Beverages Market Scope and Market Size
The plant-based beverages market is segmented on the basis of type, source and function. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the plant-based beverages market is segmented into milk and others.
- Based on source, the plant-based beverages market is segmented into almond, soy, coconut, rice and others.
- The plant-based beverages market is also segmented on the basis of function. The function is segmented into cardiovascular health, cancer prevention, bone health, lactose free alternative and others.
Global Plant-Based Beverages Market Country Level Analysis
Global plant-based beverages market is analysed and market size, volume information is provided by country, type, source and function as referenced above.
The countries covered in the plant-based beverages market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Chinese people are more prone to lactose intolerance from the region and the largest population base is another factor fuelling the growth of plant-based beverages market in Asia-Pacific.
The country section of the plant-based beverages market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Plant-Based Beverages Market Share Analysis
The plant-based beverages market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to plant-based beverages market.
The major players covered in the plant-based beverages market report are Blue Diamond Growers, DANONE SA, Hain Celestial, Pureharvest, SunOpta, Want Want China Holdings Limited, Kikkoman Corporation, Ripple Foods, Califia Farms, THE COCA COLA COMPANY, Pulmuone Foods USA, Inc., Troll Bridge Creek, Pepsi Co., CSC BRANDS, L.P. and BORGES INTERNATIONAL GROUP, S.L. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many prominent players in the market are taking different initiatives in the market so they can enhance their market reach and strengthen their market position. In March 2019, Costa Coffee which is a subsidiary of The Coca-Cola Company has planned to launch soy milk in the U.K. and also, already started selling dairy-free products including coconut, almond and soy. In 2019, a brand owned by Danone named Silk, offered a paid vacation trip for the customers through a lucky draw. These types of marketing strategies help to create high demand for plant-based beverages in the market.
Customization Available : Global Plant-Based Beverages Market
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