Press release
Plant-Based Beverage Market: Valued at $19.39 Billion in 2023 with Projected 12.2% CAGR Growth Ahead
๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก:๐๐ฅ๐๐ง๐ญ-๐๐๐ฌ๐๐ ๐๐๐ฏ๐๐ซ๐๐ ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ size was valued at US$ 19.39 Bn. in 2023. The global Plant-based Beverage Market is estimated to grow at a CAGR of 12.2% over the forecast period.
๐๐ฅ๐๐ง๐ญ-๐๐๐ฌ๐๐ ๐๐๐ฏ๐๐ซ๐๐ ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
Plant-based drinks are beverages that can serve as alternatives to dairy products. These drinks are derived from plants and are considered a healthy substitute for traditional dairy. Some of the most popular plant-based beverages worldwide include soy milk, rice milk, oat milk, cashew milk, coconut milk, flax milk, and almond milk. They are highly regarded for their nutritional value, containing essential vitamins and minerals, while being low in fat, cholesterol, and free from lactose. The plant-based beverages market is analyzed based on product type, source, and regional distribution.
The vegan population is growing rapidly, with soy milk standing out as the most popular plant-based beverage due to its high nutritional value and richness in vitamins and minerals. It is widely consumed globally as it offers similar benefits to dairy milk.
๐๐ง๐ฅ๐จ๐๐ค ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐ฎ๐ซ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:https://www.stellarmr.com/report/req_sample/Plant-based-Beverages-Market/286
๐๐ก๐๐ญ ๐๐ซ๐ ๐๐ฅ๐๐ง๐ญ-๐๐๐ฌ๐๐ ๐๐๐ฏ๐๐ซ๐๐ ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ?
Consumer Preference for Healthy and Nutritious Beverages Driving Market Growth:
Plant-based dairy alternatives are not only appealing to vegans and those looking to incorporate more plant foods into their diet, but also to individuals who are allergic to dairy products or sensitive to lactose. The rising prevalence of lactose intolerance, particularly in developed countries like the U.S. and Canada, has created significant opportunities for plant-based beverages, contributing to market growth.
Additionally, plant-based drinks offer various health benefits, including improved muscle and mental health, which further boost market expansion. Growing awareness about the benefits of consuming vegetables, fruits, and nuts is also driving the plant-based beverages market. The increasing health consciousness among consumers, driven by hectic and sedentary lifestyles, is a key factor propelling market growth.
๐๐ก๐๐ญ ๐ข๐ฌ ๐๐ฅ๐๐ง๐ญ-๐๐๐ฌ๐๐ ๐๐๐ฏ๐๐ซ๐๐ ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ?
In 2023, North America held a dominant 40.2% share in the plant-based beverages market. The rising consumer demand for plant-based foods due to their health benefits has significantly boosted the regional market. The demand is growing as these products offer natural and distinctive ingredients. The strong market presence in North America allows consumers to easily access plant-based products online. Increasing health awareness in the U.S. is leading to a shift towards lower sugar and fat intake, along with higher protein consumption and balanced nutrition.
Moreover, the market growth in North America is supported by increased consumer spending power and the growing adoption of vegan diets. A heightened focus on fitness, particularly among millennials and younger generations, is another factor driving market expansion in the U.S.
๐ ๐๐๐ ๐๐๐ญ ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ! @https://www.stellarmr.com/report/req_sample/Plant-based-Beverages-Market/286
๐๐ก๐๐ญ ๐ข๐ฌ ๐๐ฅ๐๐ง๐ญ-๐๐๐ฌ๐๐ ๐๐๐ฏ๐๐ซ๐๐ ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ?
By Product
Plain
Flavoured
Others
By Source
Fruit
Soy
Nuts
Rice
Others
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐๐ฎ๐ซ๐ซ๐๐ง๐ญ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฅ๐๐ง๐ญ-๐๐๐ฌ๐๐ ๐๐๐ฏ๐๐ซ๐๐ ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
Danone S.A (France)
Pacific Foods of Oregon, LLC (Canada)
LBlue Diamond Growers, Inc. (U.S)
SunOpta (Canada)
The Hain Celestial Group, Inc (New York)
Freedom Foods Group Ltd. (Australia)
Califia Farms (U.S)
Harmless Harvest (California)
Koia (U.S)
Vitasoy International Holdings Ltd. (Hong Kong)
Daiya Foods Inc. (Canada)
Taifun - Tofu Gmbh (Germany)
Garden Protein International Inc. (Canada)
Lightlife Foods Inc. (U.S)
Axiom Foods (U.S)
๐ ๐จ๐ซ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐๐ก๐ข๐ฌ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฅ๐๐๐ฌ๐ ๐๐ข๐ฌ๐ข๐ญ:https://www.stellarmr.com/report/Plant-based-Beverages-Market/286
๐๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ ๐ฌ:
Past Market Size and Competitive Landscape
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ญ๐๐ฅ๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐ญ๐๐ฅ๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. Firm research on many topics like Healthcare, Pharmaceuticals, Electronics and communications, Chemical and Material, Food and Beverages, Aerospace and defense, and other sectors. The company provide numerous services i.e. consultancy, Market Intelligence, Syndicate Research etc. to help executives in any organization and consumers achieve their mission-critical goals.
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