The global Plant-Based Beverages market is anticipated to increase at a 9.57% CAGR to reach value USD 37.19 billion in 2029
The plant-based beverages market is fueled by the factors like increase in the health concerns amongst customers for consuming the animal-based diets and rise in the demand for the vegan food options. Moreover, customers in the developing regions are adapting the hectic lifestyle that forces them to check out for the options of low-calorie food with large nutrition value and has increased the global plant-based beverages market size.
The global plant-based beverages market are projected to experience the trend of fast growth during the forecast period, because of a change in the habits of eating. Customers are getting conscious of wellness and health, are choosing natural products which are the demand for flavor, nutrition, and taste. Demand for plant-based beverages is growing, as the substitutes of beverage like energy drinks, soft drinks, and carbonated drinks are adversely affecting the health of the customers like diabetes, high blood pressure and obesity because of the presence of the artificial additives and high content of sugar. Plant-based beverages are healthy and natural substitute are fascinating the substantial base of customer. Plant-based beverages manufacturers are providing innovative and new ingredients and flavors to fascinate customers like flavored plant-based milk, blends of fruit juices and vegetables and plant-based coffee.
Global plant-based beverages market is analyzed by RTD drinks and dairy substitutes by consumption of plant-based non-diary beverages in the maximum consuming areas. The market for the vegetable and fruit juices is measured by calculating the manufacture of vegetables and fruits provided as juices, and the volume of vegetables and fruits for the processing of juice is measured. The usage of plant-based beverages is considered for targeting the countries in every region. The approach of data modeling is done by investing the average yield, the amount used for dealing into plant-based beverages and total average of feedstock. The average price of selling the plant-based beverages are considered for assessing the size of the market of plant-based beverages in maximum regions.
Plant-based beverages market is witnessing the growth fueled by the factors like positive impact on the environment of plant-based food, increase in the concerns for food safety, the rise in the wellness and health concerns, growth in the population and rise in the vegan production. Plant-based beverages market trends are increasing in the preference for technological developments, the increase in veganism and milk substitutes. In addition, challenges faced by the global plant-based beverages industry are adverse climatic conditions, concern regarding the nutritional content, hazardous withdrawals in market and product recalls.
plant-based beverages market are segmented into packaging type, source, distribution channel, format segmentation, nature segmentation, and region. Based on packaging type, plant-based beverages market is divided into cans, cartons, pouches, bottles and more. On the basis of source, the market is divided into nuts, vegetables, fruits and more. In considering the distribution channel, the market is divided into non-store based and store based channel. By format segmentation, the market is divided into flavored and regular drinks. Based on nature segmentation, the market is divided into conventional plant-based beverages and organic plant-based beverages.
Geographically, regions involved in increasing the plant-based beverages market share are Europe, North America, Asia Pacific and Rest of the World (RoW). The Asia Pacific holds the largest plant-based beverages market share.
Key players increasing the plant-based beverages market share are Blue Diamond Growers, The WhiteWave Foods Company, Pacific Foods, Coca-Cola Company and more.
Key segments of the global Plant-Based Beverages market
Type 2018-2029 (USD Million)
Source 2018-2029 (USD Million)
• Soy Beverages
• Almond Beverages
• Coconut Beverages
• Rice Beverages
Regional Overview, 2018-2029 (USD Million)
• North America
o Rest of Europe
o Southeast Asia
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
• Central & South America
o Rest of South America