Plant Based Beverages Market: Applications and Global Markets

Plant-based beverages are dairy alternatives made from plants such as potato, oat, coconut, almond, hemp, soy, and rice. The global plant-based beverages market is expected to grow at a significant growth rate, attributed to food and beverages industry across the globe over the forecast period.

The Europe plant-based beverages market is expected to register a relatively high revenue share over the forecast period followed by North America plant-based beverages market, attributed to increasing demand for plant-based beverages in the retail as well as food service centres segment. Asia-Pacific is expected to account for relatively high volume share with a significant growth rate in the global plant-based beverages market over the forecast period.

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Global Plant Based Beverages Market: Dynamics

The major factor driving the industrial segment in global plant-based beverages market include increasing health consciousness among consumers and high demand for low-fat food and beverages across the globe. Growing food & beverages industry and medicinal benefits of plant-based beverages are also some of the important factors driving the global plant-based beverages market.

Companies manufacturing plant based beverages products can leverage potential opportunities in regions such as North America, Europe, and Asia Pacific, attributed to rapidly growing demand for food & beverages and low-fat food and beverages over the forecast period. The changing food habits and trying new and expensive food items by the consumers are another important factor trending the global plant-based beverages market.

Global Plant Based Beverages Market: Segmentation

The global plant-based beverages market is segmented on the basis of product type, distribution channel, source, and region. On the basis of product type, a single segment is expected to dominate the global plant-based beverages market over the forecast period. The retail segment is expected to expand at a significant growth rate over the forecast period on the basis of a distribution channel. Among the source segments, a natural segment is expected to dominate the global plant-based beverages market. The natural segment is followed by organic segment and is expected to expand at a significant growth rate over the forecast period in global plant-based beverages market.

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Global Plant Based Beverages Market: Regional Overview

On the basis of geography, the global plant-based beverages market is fragmented into seven regions namely, North America, Western Europe, Asia Pacific excluding Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. Among the regions, North America is expected to dominate the global plant-based beverages market in terms of revenue contribution owing to increasing health consciousness among consumers in the region.

North America is followed by Western Europe in global plant-based beverages market, attributed to high demand for low-fat food and beverages across the region. APEJ plant-based beverages market is expected to expand at a significant growth rate, attributed to the high growth of plant-based products and beverages in the region over the forecast period. The Middle East & Africa is expected to represent a moderate opportunity in the global plant-based beverages market, owing to the moderate economic, agricultural, and industrial growth in the region. Overall, the outlook for the global plant-based beverages market is positive over the forecast period.

Global Plant Based Beverages Market: Key Players

Some of the players identified in the global plant-based beverages market include So Delicious Dairy Free, E.I. WhiteWave Services, Inc., Blue Diamond Growers, Pacific Foods of Oregon, Inc., Dream Beverage, Inc., Califia Farms LP, The Coca-Cola Company, Sunrich Naturals, Chia Star, Inc., and Graindrops LLC.

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This release was published on openPR.