Vegan Drink Mixes Market is Projected to Exceed a Revenue of US$ 21.9 Bn by 2032 due to Awareness, Oatly Group AB, yfood Labs GmbH., Beverage Universe, Vegan Tipples, Chobani, LLC., Vvegano

The size of the global market for vegan drink mixes, which was estimated at USD 24.45 billion in 2022, will increase during the forecast period at a CAGR of 12.5%. In general, vegan drink mixes are prepared without the use of any kind of animal ingredients or byproducts.

The popularity of plant-based beverages is rising as consumers place a higher value on sustainability, ethics, and health. People are switching to plant-based replacements, including plant-based beverages, due to the numerous benefits of plant-based diets. These broader reasons are having a beneficial effect on the market for plant-based beverages.

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Numerous statistics support plant-based diets and the health advantages that come with them (ASN), including those presented at Nutrition 2018, the inaugural annual meeting of the America Society for Nutrition. A lower risk of obesity, diabetes, and coronary heart disease is associated with plant-based diets, according to the study.

The market for plant-based beverages is being significantly boosted by the accelerating popularity of vegan and flexitarian diets. As the two demographic groups targeted by retailers, Millennials and Gen Xers, steadily shift to consuming plant-based foods, the market for plant-based beverages is anticipated to grow.

The plant-based beverage industry is seeing an increase in demand for plant-based protein supplements. The demand for plant-based foods and beverages has increased as consumers prefer products made from plants than those made from animals. The shift towards a plant-based diet has raised consumer demand for plant-based protein supplements, offering continued opportunity for producers of plant-based beverages.

For instance, rather than whey-based protein powders, most customers opt to purchase plant-based protein powders like rice and pea. As more athletes incorporate plant-based proteins into their workout routines, the market for supplements containing plant-based proteins is also quickly growing in the area of sports nutrition.

Vegan Drink Mixes Market - Segmentation
Vegan Drink Mixes Market based on Type is segregated into
• Vegan hot drinks
• Vegan Cold drinks
• Vegan Juices
• Others

Vegan Drink Mixes Market based on Source is fragmented into
• Soy based
• Coconut based
• Rice based
• Almond based
• Oats based
• Fruits based
• Hazelnut based
• Hemp based
• Cashew based
• Flax based
• Others

Vegan Drink Mixes Market based on Packaging Type
• Cans
• Bottles
• Pouches
• Others

Vegan Drink Mixes Market based on Sales Channel is bifurcated into
• B2B
• B2C

Vegan Drink Mixes Market based on Flavour is categorized
• Plain
• Flavoured

Vegan Drink Mixes Market based on Distribution Channel
• Hypermarkets & Supermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others

Key Companies
• Oatly Group AB,
• yfood Labs GmbH.,
• Beverage Universe,
• Vegan Tipples,
• Chobani, LLC.,
• Vvegano,
• PepsiCo, Inc,
• THE BRIDGE S.R.L,
• Guinness & Co.,
• SIMANDL,
• spol. s r. o,
• The Good Pea Co.,
• Soho Juice Co. Ltd,
• PAISLEY DRINKS CO. LTD.,
• SunOpta,
• Vvegano,
• Starbucks,
• The Coca-Cola Company,
• Alfa Laval,
• Archer Daniels Midland Company ,
• BLUE DIAMOND GROWERS,
• 1HAIN CELESTIAL GROUP, INC.,
• LIVING HARVEST FOODS INC.,
• ORGANIC VALLEY CROPP COOPERATIVE,
• PANOS BRANDS LLC (KONINKLIJKE WESSANEN N.V.),
• Hain Celestial Group.

By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o ASEAN
o Rest of APAC
• South America
o Brazil
o Argentina
o Chile
o Rest of South America
• Middle East and Africa
o Saudi Arabia
o UAE
o South Africa
o Rest of MEA

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Market Restraints
The high cost of vegan products and the availability of cheaper non-vegan alternatives are the major challenges faced by the vegan drink mixes market. Another challenge faced by the industry is the lack of awareness among consumers about the benefits of vegan products.

Market Opportunities
The growing demand for vegan products, the increasing number of vegan restaurants and cafes, and the rising popularity of veganism in developing countries are some of the opportunities available to the players in the vegan drink mixes market. The increasing popularity of e-commerce platforms and the growing trend of online shopping are also expected to boost the growth of the market.

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Conclusion
The global vegan drink mixes market is growing at a rapid pace, driven by the increasing health consciousness among consumers and the growing demand for plant-based alternatives. The market is highly competitive, with several small and large players competing for market share. The rising popularity of e-commerce platforms and the growing trend of online shopping are expected to boost the growth of the market. Despite the challenges faced by the industry, the opportunities available to the players are significant.

Overall, the global vegan drink mixes market is expected to witness steady growth in the coming years, and players in the market must adopt effective strategies to stay ahead of the competition.

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