North America 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), Countries (U.S., Canada, Mexico) – Industry Trends and Forecast to 2026
Plant-based beverages have created a huge space among the consumers who require nutrients in their regular diets. The non-dairy beverages are known to have high amount of minerals, vitamins, fibres, and other phytonutrients, giving all the nutritional benefits to the consumers. Plant-based beverages are widely used by the consumers who prefer variety of flavours and taste in their milk. Also, there are people who are intolerant or allergic to dairy milk because of which they lack in getting dairy nutrients. For them, plant-based nutrients can be the best choice, giving all the required nutrients similar to that of dairy products.
North America plant-based beverages market is projected to register a healthy CAGR in the forecast period of 2019 to 2026.
Segmentation: North America Plant-Based Beverages Market
North America plant-based beverages market is categorized into three notable segments which are based on the basis of type, source and function.
- On the basis of type, the market is segmented into milk and others.
- On the basis of source, the market is segmented into almond, soy, coconut, rice and others. Others segment is sub-segmented into cashew, oats, pea, hemp and hazelnut.
- On the basis of function, the market is segmented into cardiovascular health, cancer prevention, bone health, lactose free alternative and others.
Competitive Analysis: North America Plant-Based Beverages Market
Some of the major players operating in this market 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.
- In March 2017, THE COCA-COLA COMPANY closed the acquisition of Unilever’s AdeS plant-based beverages business. This acquisition will help the company to expand their portfolio of functional drinks in the Latin American region. Ades is famously known for selling soy based products in that region. The acquisition will help the company to explore more on this market
- In October 2014, DANONE SA acquired So Delicious Dairy Free. The acquisition was done for USD 550 million in cash. So Delicious Dairy Free has the product line of plant-based beverages, creamers, cultured products and frozen desserts. This will help the company to grab new opportunities related to the market.
Research Methodology: North America Plant-Based Beverages Market
Primary Respondents: key industry participants, subject-matter experts (SMEs), C-level executives of key market players, Market Intelligence Managers, National Sales Managers and industry consultants.