Plant-Based Beverages Market Insights Regional Size, Share, Industry with Growth & Top Companies, Report
Market Synopsis
The
global plant-based beverages market 2020 is projected that the global
plant-based beverage market will surge at a robust 8.50% CAGR to reach a
valuation of USD 289.07 billion by 2030.
Market Highlights
As
they are nutritious and have good nutritional value, customers are drawn
towards plant-based drinks. Also, consumers who are lactose intolerant and do
not have an appetite for milk-based drinks have arisen as a viable substitute.
The bulk of plant-based beverages carry no risk of allergic reactions and
should be drunk in all age ranges. This provides a significant edge to
plant-based drinks. Around the same time, the growth of a stable supply chain
has contributed to the widespread availability of raw materials used for the
manufacture of plant-based beverages.
The
growing number of health-conscious customers often reflects favourably on the
industry. The introduction of probiotic drinks and nutritional beverages
containing plant-based ingredients, however, could impede the growth of the Plant-Based Beverages Market Outlook in the coming year.
Probiotic drinks can lose any proportion of their market to plant-based
beverages. Probiotic drinks have been introduced by a variety of brands to
understand the business demand for these products. This is going to have
implications for the wider demand for plant-based beverages.
Confidence
among the global population has been increased by the large-scale occurrence of
chronic disorders, thereby encouraging them to alter diets and food habits.
This, in essence, has opened new opportunities for market players to expand by
fueling demand for plant-based beverages. Key players concentrate on robust
branding campaigns to improve their global industry footholds. Nonetheless,
growth in the markets for alternative products such as probiotic drinks and
sugar-free carbonated drinks is expected to influence the development of the
demand for plant-based beverages in the coming years.
Regional Outlook
The
report comprises of analysis from Europe, North America, Asia Pacific (APAC),
Latin America and the Middle East & Africa.
Of
these, the highest market share is accounted for by Europe. The Europe Plant-Based Beverages Market secured a USD 76.43
billion valuations in 2017 and is anticipated to mature at a CAGR of 8.09 per cent
by 2023.
The
second-largest demand for plant-based drinks has arisen in North America. At
present, the region's industry is worth over USD 69 billion and is projected to
remain highly lucrative in 2019. The Asia-Pacific sector, meanwhile, is
predicted to post the highest CAGR of 9.22 per cent during the forecast period.
Segmental Analysis
Segmental
analysis of the global demand for plant-based beverages is carried out based on
the source, form and medium of distribution.
The
industry has been segmented into fruits, vegetables, nuts, seeds & leaves,
soy and others depending on sources. During the forecast era, the fruit segment
is projected to remain extremely lucrative. Over the analysis period, the
segment achieved a USD 119 billion market value.
The
market has been segmented into plant-based milk, RTD tea & coffee, juices,
and others based on form. Currently, the juices category has the highest market
share and is expected to hold its dominant position through 2019. During the
forecast period, the segment is expected to experience high growth and hit a
valuation of over USD 222 billion.
The
industry has been segmented into store-based and non-store-based, depending on
the distribution channel. The store-based portion accounted for the lion's
share of the market in 2017.
Competition Dashboard
Some
of the major companies operating in the global plant-based beverages market
include the Coca-Cola Company, PepsiCo, Inc., Hain Celestial Group, Danone SA,
Fresh Del Monte Produce Inc., Campbell Soup Company., Califia Strategies, Koia,
Keurig Dr Pepper Inc. and SunOpta Inc.
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