Plant-Based Beverages Market Size 2023 | Worth US$ 46.5 Billion by 2028 | Growth Rate (CAGR) of 12.41% | IMARC Group

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 global plant-based beverages market size reached US$ 24.76 Billion in 2021. Looking forward, IMARC Group expects tThe 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, such as grains and seeds, and extracted in water. Some of the commonly available plant-based beverages are rice milk, soymilk, tea, coffee, etc. Plant-based beverages are low in calories and rich in protein, calcium, vitamins A and D, B-complex, DHA omega-3s or probiotics, etc. They are generally consumed as an alternative to dairy products as they comprise of a healthy combination of mono- and polyunsaturated fats and have zero concentration of lactose. As a result, plant-based beverages help in reducing the risk of developing heart diseases, strokes, diabetes, etc.

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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:

The escalating health consciousness among masses across the globe is among the key factors augmenting the plant-based beverages market. Furthermore, the elevating demand for these beverages to provide hydration and serve as a source of numerous essential nutrients, vitamins, minerals, and proteins and aid in lowering the risk of cardiovascular diseases (CVDs), improving immunity, and strengthening bone health is also bolstering the global market. Moreover, the widespread product consumption among the vegan population, owing to the increasing prevalence of lactose intolerance and several kinds of food allergies, is further catalyzing the market growth. Apart from this, the launch of variants formulated with additional healthy ingredients, including oat-based options, is acting as another significant growth-inducing factor. Besides this, the inflating requirement for plant-based supplements in the sports and nutrition sectors is further fueling the market growth. Additionally, the growing expenditure capacities of consumers, the widespread product adoption in cafes and bakeries, significant advancements in processing technologies, and the expanding demand for ready-to-drink (RTD) beverages, on account of the busy lifestyles and hectic schedules of individuals, are expected to positively influence 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.

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.

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.

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