Plant-based beverages market is projected to grow during the 2018-2023 period
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Based on product type milk segment is showing an impressive year-on-year increase, and this trend is expected to continue over our forecast period.
By product type, milk as plant-based beverages is estimated to account significant market share and is expected to grow rapidly during the forecast period on account of increasing demand for non-dairy milk and rising cases of lactose intolerance and milk allergies.
The Asia Pacific is expected to account for a significant share in the market.
Asia Pacific Plant-based beverages market is estimated to have a significant share in terms of both value and volume in the global market, and the region is further anticipated to grow during the forecast period on account of rapid urbanization and increasing disposable income in the region. In addition, growing beverage industry and growing product launches in the region also drive the growth of the market during the forecast period. Moreover, growing awareness about the nutritional benefits associated with the plant-based beverages also widen ups the growth opportunities for vendors and manufacturers in the coming years.
Some of the major industry players profiled as part of the report are The Hain Celestial Group, Califia Farms, Pacific Foods of Oregon, The Whitewave Foods Company, Pureharvest, Blue Diamond Growers and Sunopta, among others.
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