The 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 8.36% during 2023-2028.
Plant-based beverages refer to healthy drinks that are manufactured and processed from plant materials, such as grains and seeds, and extracted in water. Rice milk, soymilk, tea and coffee are some of the commonly available plant-based beverages. They are low in calories and rich in protein, calcium, vitamins A and D, and B-complex, and DHA omega-3s or probiotics. Plant-based beverages are commonly consumed as an alternative to dairy products as they consist of a healthy combination of mono- and polyunsaturated fats and have zero concentration of lactose. As a result, plant-based beverages assist in reducing the risk of developing heart diseases, strokes, and diabetes.
Plant-Based Beverages Market Trends:
- The increasing health consciousness among masses across the globe is creating a positive outlook for the market. Plant-based beverages provide hydration and serve as a source of various essential nutrients, vitamins, minerals and protein that helps in lowering the risk of cardiovascular diseases (CVDs), improving immunity, and strengthening bone health. In line with this, the widespread consumption of plant-based beverages among the vegan population due to the rising prevalence of lactose intolerance and various kinds of food allergies is favoring the market growth. Apart from this, the launch of plant-based beverages formulated with additional healthy ingredients, such as oat-based options, are providing a considerable boost to the market growth. Additionally, the increasing demand for plant-based supplements in the sports and nutrition industry is positively impacting the market growth. Other factors, including rising expenditure capacities of consumers, the widespread product adoption in cafes and bakeries, significant advancements in processing technologies, and the increasing demand for ready-to-drink (RTD) beverages due to the busy lifestyles and hectic schedules, are anticipated to drive the market further toward growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global plant-based beverages market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product and distribution channel.
Breakup by Type:
Breakup by Product:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key Questions Answered in This Report:
- How has the global plant-based beverages market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global plant-based beverages market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global plant-based beverages market and who are the key players?
- What is the degree of competition in the industry?