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 represent healthy drinks that are manufactured and processed from plant materials, including grains and seeds. They have low calories and are rich in protein, calcium, vitamins A and D, B-complex, DHA omega-3s or probiotics, etc. Some of the commonly available plant-based beverages include rice milk, soy milk, tea, coffee, etc. They are widely consumed as an alternative to dairy products, as these beverages consist of a healthy combination of mono- and polyunsaturated fat and have zero concentration of lactose. Consequently, plant-based beverages aid in minimizing the risk of developing strokes, diabetes, heart diseases, etc.
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Plant-Based Beverages Market Trends and Drivers:
The growing consumer health consciousness across countries is primarily augmenting the plant-based beverages market. Furthermore, the escalating demand for these drinks, as they provide hydration and serve as a source of numerous essential nutrients, vitamins, minerals, and protein that assist in lowering the risk of cardiovascular diseases (CVDs), improving immunity, strengthening bone health, etc., is positively influencing the global market. Apart from this, the widespread adoption of plant-based beverages by the vegan population, on account of the rising prevalence of lactose intolerance and several kinds of food allergies, is acting as another significant growth-inducing factor. Moreover, they are formulated with additional healthy ingredients, such as oat-based options, which is also bolstering the market growth. Besides this, the increasing utilization of ready-to-drink (RTD) beverages, owing to the busy lifestyles and hectic schedules of individuals, is further catalyzing the global market. Additionally, the inflating disposable income levels and continuous advancements in processing technologies are expected to fuel the plant-based beverages market in the coming years.
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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.
- Califia Farms LLC
- Blue Diamond Growers Inc
- 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.
Breakup by Type:
- Soy-based
- Coconut-based
- Almond-based
- Rice-based
- Oats-based
- Hemp-based
- Hazelnut-based
- Cashew-based
- Flax-based
Breakup by Product:
- Plain
- Flavored
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
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.