Global Plant-based Beverages Market- Overview
It is estimated for the global plant based beverages market to witness growth at a CAGR of 13.4% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 11.8% during the forecast period of 2018 to 2021. Plant-based beverages are the main substitute for cow's milk; they are defined as aqueous extracts obtained through vegetable matter breakdown of cereals, pseudo-cereals, oilseeds of legumes, and nuts.
Global Plant-based Beverages Market- Growth Factors
The increasing awareness about the consumption of plant based beverages owing to the health benefits associated with these beverages in estimated to boost the growth of the market during the forecast period. Also, the rising awareness about the health losses owing to the consumption of animal based beverages such as beverages is estimated to boost the growth of the market. The animals based beverages such as cow and buffalo milk are a rich source of fat and thus the accumulation of fat in the human body is estimated to cause harm for the humans in the longer run and this factor is estimated to foster the growth of the market during the forecast period. Also, the increasing awareness by the celebrated personalities all over the globe about the consumption of plant based beverages is estimated to foster the growth of the market during the forecast period.
Global Plant-based Beverages Market- Market Trends
The increasing awareness about the consumption of plant based beverages owing to the health benefits associated with these beverages in estimated to boost the growth of the market during the forecast period.
Also, the rising awareness about the health losses owing to the consumption of animal based beverages such as beverages is estimated to boost the growth of the market. The animals based beverages such as cow and buffalo milk are a rich source of fat and thus the accumulation of fat in the human body is estimated to cause harm for the humans in the longer run and this factor is estimated to foster the growth of the market during the forecast period.
Also, the increasing awareness by the celebrated personalities all over the globe about the consumption of plant based beverages is estimated to foster the growth of the market during the forecast period.
Global Plant-based Beverages Market - Segmentation
The global plant based beverages market is segmented based on product type and product taste.
Based on product type, the market is segmented into,
Soy
Coconut
Almond
Oat
Others
Based on product taste, the market is segmented into,
Plain
Flavored
Global Plant-based Beverages Market Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Plant-based Beverages Market Key Market players
Danone S.A.; Pacific Foods of Oregon, LLC; Blue Diamond Growers Inc.; SunOpta; The Hain Celestial Group, Inc.; Noumi Ltd.; Califia Farms, LLC; Harmless Harvest; Koia; Vitasoy International Holdings Ltd. are the major players that are boosting the growth of the market during the forecast period.
