The Global Plant-based Food and Beverage Market Determined to Garner $81538.73 Million in Revenue by 2028

According to Triton’s report, the global plant-based food and beverage market, which gained $42186.43 million in 2020, is envisioned to observe growth at 8.71% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Plant-based Food and Beverage Market’ comprises the Global Analysis and Forecasts by Distributors (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retail, Other Distributors), by Source (Soy, Wheat, Almond, Corn, Other Sources), by Type (Dairy, Meat, Other Types), and by Geography (North America, Europe, Middle East and Africa, Latin America, Asia-Pacific).

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Triton’s report suggests that the global plant-based food and beverage market is probable to advance based on revenue at a CAGR of 8.71% through the examined period of 2021-2028. It is further likely to showcase revenue worth $81538.73 million by 2028.

Plant-based foods and beverages have several benefits. For instance, they reduce inflammation, lower cholesterol levels, and help stabilize blood sugar levels. They are also rich in minerals, vitamins, antioxidants, and fiber. This is primarily augmenting the growth of the plant-based food and beverage market around the world.

However, there is still a disparity in people’s perception of dairy products and plant-based ones. This is a key factor significantly obstructing the growth of the plant-based food and beverage market over the estimated period.

The market for plant-based food and beverage is broadly divided into distributors, source, and types. In terms of distributors, the market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online retail, and other distributors. The source section is branched into soy, wheat, almond, corn, and other sources. Whereas, the type section is divided into dairy, meat, and other types.

The Asia-Pacific is the fastest-growing for plant-based food and beverage market globally. With the changes in the environment and people’s lifestyle, along with better access to information through technology, consumers are laying more focus on the food they consume, and also where it is coming from. As they are increasingly turning vegan, consumers are learning more about nutrition and improving their diets.

Further, the COVID-19 pandemic has highlighted the importance of health and wellness. It has spurred the consumers’ interest in plant-based meat alternatives. In fact, the sales of plant-based meat substitutes have grown tremendously. All these factors are chanelling the market growth in the region.

Amy’s Kitchen, Yofix Probiotics, Kikkoman Corporation, Quorn Foods, Impossible Foods Inc, Daiya Foods Inc, Conagra Brands, Moving Mountains, Sweet Earth Inc, Califia Farms, Beyond Meat Inc, Field Roast Grain Meat Co Inc, The Hain Celestial Group Inc, Danone SA, Blue Diamond Growers, Morningstar Farms, Sunfed, and Pacific Foods Of Oregon have established their operations in the plant-based food and beverage market.

Request Free Sample of the Global Plant-based Food and Beverage Market Report @ https://www.tritonmarketresearch.com/reports/plant-based-food-and-beverage-market#request-free-sample

Question & Answer: Plant-based Food and Beverage Market

Question 1: What is primarily augmenting the growth of the plant-based food and beverage market around the world?

Answer: Plant-based foods and beverages have several benefits. For instance, they reduce inflammation, lower cholesterol levels, and help stabilize blood sugar levels. They are also rich in minerals, vitamins, antioxidants, and fiber. This is primarily augmenting the growth of the plant-based food and beverage market around the world.

Question 2: Which is a key factor significantly obstructing the growth of the plant-based food and beverage market over the estimated period?

Answer: There is still a disparity in people’s perception of dairy products and plant-based ones. This is a key factor significantly obstructing the growth of the plant-based food and beverage market over the estimated period.

Question 3: Which region is the fastest-growing market for plant-based food and beverage globally?

Answer: The Asia-Pacific is the fastest-growing market for plant-based food and beverage globally. With the changes in the environment and people’s lifestyle, along with better access to information through technology, consumers are laying more focus on the food they consume, and also where it is coming from. As they are increasingly turning vegan, consumers are learning more about nutrition and improving their diets.

Further, the COVID-19 pandemic has highlighted the importance of health and wellness. It has spurred the consumers’ interest in plant-based meat alternatives. In fact, the sales of plant-based meat substitutes have grown tremendously. All these factors are chanelling the market growth in the region.

Question 4: Which companies have established their operations in the plant-based food and beverage market?

Answer: Amy’s Kitchen, Yofix Probiotics, Kikkoman Corporation, Quorn Foods, Impossible Foods Inc, Daiya Foods Inc, Conagra Brands, Moving Mountains, Sweet Earth Inc, Califia Farms, Beyond Meat Inc, Field Roast Grain Meat Co Inc, The Hain Celestial Group Inc, Danone SA, Blue Diamond Growers, Morningstar Farms, Sunfed, and Pacific Foods Of Oregon have established their operations in the plant-based food and beverage market.

Related Report:

Global Cannabis Food and Beverage Market

The global cannabis food and beverage market is estimated to advance in its revenue during 2021-2026 at a CAGR of 15.15%. It is anticipated to attain revenue worth $839.94 million by 2026.

With legalization in several countries, cannabis is making its way into the mainstream market. As a result, high-end products containing the CBD compound are becoming increasingly popular across North America and Europe. These products give consumers a sudden energy boost; they also help increase focus and stay more alert throughout the day. Attractive CBD-infused drinks come in a variety of flavors, including light, classic, mango, raspberry, etc. Besides, they also serve as an active competitor to the much popular Red Bull Energy Drink. The availability of a range of flavors in wellness drinks is aiding the cannabis food and beverage market to experience growth.

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