The latest research study “Plant-Based Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the The global plant-based beverages market size reached US$ 28.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12.41% during 2023-2028.
Plant-based beverages are healthy drinks produced and processed from plant materials, such as grains and seeds. They possess low levels of calories and are highly rich in calcium, proteins, vitamins A and D, B-complex, and DHA omega-3s or probiotics.
Plant-based beverages are consumed by both health-conscious and lactose-intolerant individuals as they contain a healthy combination of mono-and polyunsaturated fats and have zero lactose concentration. Some of the most commonly adopted plant-based beverages include almond, soy, and rice milk. In recent years, plant-based beverages have gained traction as they help reduce the risk of developing strokes, heart diseases, and diabetes.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Plant-Based Beverages Market Trends and Drivers:
One of the primary factors driving the market is the growing emphasis of the masses on immunity improvement in simple and nutritious vegetarian and plant-based foods and beverages. Additionally, individuals, especially millennials, are shifting toward vegan and vegetarian diets. As a result, leading players are launching plant-based beverages formulated with additional healthy ingredients, such as oat-based options, which is creating a positive market outlook. Other than this, the increasing number of individuals diagnosed with lactose intolerance and other food-related allergies among children and adults is positively influencing market growth.
Besides this, plant-based beverages are gaining popularity as they offer hydration and consist of essential nutrients, such as minerals, vitamins and proteins, that assist in enhancing immunity and strengthening bone health. Moreover, several factors, such as expanding income levels of the masses, extensive product adoption in cafes and bakeries, constant developments in processing technologies, and the growing demand for ready-to-drink (RTD) beverages on account of the busy lifestyles and hectic schedules, are creating lucrative growth opportunities for key players operating in the industry.
Plant-Based Beverages Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Blue Diamond Growers Inc
- Califia Farms LLC
- Danone S.A.
- Drink Koia Online
- Kikkoman Corporation
- Organic Valley
- Pacific Foods of Oregon LLC (Campbell Soup Company)
- PureHarvest
- Ripple Foods
- SunOpta Inc. and The Coca-Cola Company.The report has segmented the market on the basis of type, product and distribution channel.
Type:
- Soy-based
- Coconut-based
- Almond-based
- Rice-based
- Oats-based
- Hemp-based
- Hazelnut-based
- Cashew-based
- Flax-based
Product:
- Plain
- Flavored
Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Storee
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
