Market: Overview
Vegan Drinks Market is estimated to reach around USD 75,000 Million by
2033 from about USD 20,000 Million in 2022 at a compound annual growth rate
(CAGR) of 14%.
Vegan drinks are generally made from oats, soy, almond, cashew, coconut,
rice, etc. Different vegan drinks include coke, regular Pepsi, almond breeze,
orange soda, fruit juices, coffee, and others. Vegan drinks are also available
in different flavours. Vegan drinks provide health benefits as they contain
vital nutrients.
The increasing demand for vegan foods and beverages due to rising cases
of lactose intolerance and milk allergies is driving the growth of vegan drinks
market. Additionally, increasing demand for organic agro product also fuels the
market growth. However, high cost of vegan beverages is restraining the market
growth.
Vegan Drinks Market: Key Trends
· New Trend Of Vegan Beers
Some beers contain components of animal origin in their filtering
processes. The famous Guinness brand recently switched its range of beers to
100% vegan. So many brewers and major brands such as Guinness & Co.,
Cervezas Alhambra, Cervezas Cibeles, and others have joined the vegan-friendly
beer bandwagon to meet the growing demand for vegan drinks.
The trend of Vegan Beers is gaining popularity in the vegan drinks
market. Vegan beers are made without the use of any animal-derived ingredients
such as honey, milk, or gelatin, which are commonly used in the brewing
process. Instead, vegan beers are brewed using plant-based ingredients such as
hops, malted barley, wheat, and yeast.
The trend towards vegan beers is being driven by several factors,
including the growing demand for plant-based food and beverages, increasing
awareness about animal welfare and environmental sustainability, and rising
concerns about the health impacts of consuming animal-derived products.
In addition, the trend towards vegan beers is also being driven by the increasing number of consumers who follow a vegan or vegetarian diet. Vegan beers appeal to this segment of consumers, who are looking for products that align with their dietary preferences and values. Many craft breweries and larger beer companies are now offering vegan beer options to cater to this growing trend. Some breweries are also using innovative ingredients, such as fruits, spices, and herbs, to create unique and flavorful vegan beer options. Overall, the trend towards vegan beers is expected to continue to grow in the coming years, driven by increasing demand from consumers who are looking for plant-based beverage options that align with their dietary preferences and values.
· Cold Brew Coffees And Lattes
The purest cold brew coffee is known to be vegan. But the matter becomes
complicated in case of canned beverages, which sometimes include ingredients
that are not suitable for vegans, such as honey. Recently, Starbucks launched
its own version of coffee. The same thing applies to lattes.
Therefore, major, brands are launching alternatives based on oats, soy
and other ingredients to replace cow milk. Cold brew coffees and lattes are
becoming increasingly popular among consumers, particularly among those who are
looking for a dairy-free or vegan alternative to traditional coffee drinks.
Many coffee shops and cafes now offer vegan cold brew coffees and lattes, which
are typically made with non-dairy milks such as soy, almond, or oat milk. As
more consumers adopt vegan and vegetarian diets, the demand for plant-based
coffee options is likely to continue to grow.
Vegan Drinks Market: COVID 19 Impact
The outbreak of the COVID-19 pandemic had resulted in the imposition of
complete and partial lockdowns in several countries, which compelled the
shutting down of several manufacturing facilities. However, escalating demand
for vegan diets owing to consumers’ attention to health, climate change and
animal welfare has been boosting market progression. Nearly 1 in 5 (18%) people
in the U.K are reported to have consumed more vegan and/or vegetarian food
since the beginning of the pandemic in March 2020.
· Key
Players:
· Oatly
Group AB,
· yfood
Labs GmbH.,
· Beverage
Universe
· Vegan
Tipples
· Chobani,
LLC.
· Vvegano,
· PepsiCo,
Inc,
· THE
BRIDGE S.R.L,
· Guinness
& Co.,
· SIMANDL,
· spol.
s r. o,
· The
Good Pea Co.,
· Soho
Juice Co. Ltd,
· PAISLEY
DRINKS CO. LTD.,
· SunOpta,
Vvegano,
· Starbucks,
· The
Coca-Cola Company,
· Alfa
Laval,
· Archer
Daniels Midland Company ,
· BLUE
DIAMOND GROWERS,
· 1HAIN
CELESTIAL GROUP, INC.,
· LIVING
HARVEST FOODS INC.,
· ORGANIC
VALLEY CROPP COOPERATIVE,
· PANOS
BRANDS LLC (KONINKLIJKE WESSANEN N.V.),
· Hain
Celestial Group,
· Others.
Vegan Drinks Market: Segmentation Analysis
Vegan Drinks Market based on Type
· Vegan
hot drinks
· Vegan
Cold drinks
· Vegan
Juices
· Others
Based on type, Vegan juices segment is anticipated to dominate the market owing to increasing demand for vegan Juices as juices have been an integral part of fitness, nutrition and lifestyle blogs. Also growing consumer inclination towards healthy products are further boosting segmental expansion. products.
Vegan Drinks Market based on Source
· Soy
based
· Coconut
based
· Rice
based
· Almond
based
· Oats
based
· Fruits
based
· Hazelnut
based
· Hemp
based
· Cashew
based
· Flax
based
· Others
Based on Source, Almond based segment is anticipated to dominate the
market ascribing to accelerated demand for plant based diet and dairy
alternatives. Almond based drink has rich texture and flavour and is naturally
dairy – free in nature., Also, almond is an excellent and natural source of
vitamin E which is a fat-soluble antioxidant that helps protecting the body
from free radical damage.
Vegan Drinks Market based on Packaging Type
· Cans
· Bottles
· Pouches
· Others
Vegan Drinks Market based on Sales Channel
· B2B
· B2C
Vegan Drinks Market based on Flavour
· Plain
· Flavoured
Vegan Drinks Market based on Distribution Channel
· Hypermarkets
& Supermarkets
· Convenience
Stores
· Specialty
Stores
· Online
· Others
Vegan Drinks Market: Regional Analysis
North America is expected to account for the largest market share due to
rise in trend of veganism and increase in consumer’s awareness towards health
and fitness in this region. According to the ‘Vegetarianism in America’ study
published by Vegetarian Times Magazine 2021, in the US, the number of vegans
went up from 0.4% to almost 3.5%
Report Scope
Vegan Drinks Market Forecast Years: 2023-2033
Vegan Drinks Market 2022: USD 20,000 Million
Vegan Drinks Market 2033: USD 75,000 Million
Vegan Drinks Market CAGR: 14%
Key Regions and Countries: North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa
Key Segments: Type; Source; Packaging type, Sales Channel, Flavour,
Distribution Channel
1.
Global Vegan Drinks Market Introduction
and Market Overview
1.1. Objectives
of the Study
1.2. Vegan Drinks Market Definition & Description
1.3. Global
Vegan Drinks Market Scope and Market Estimation
1.3.1. Global
Vegan Drinks Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023-2033)
1.3.2. Global
Vegan Drinks Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033
1.4. Market
Segmentation
1.4.1. Based
On Type of Global Vegan Drinks Market
1.4.2. Based
On Source of Global Vegan Drinks Market
1.4.3. Based
On Packaging Type of Global Vegan Drinks Market
1.4.4. Based
On Sales Channel of Global Vegan Drinks Market
1.4.5. Based
On Flavour of Global Vegan Drinks Market
1.4.6. Based
On Distribution Channel of Global Vegan Drinks Market
1.4.7. By Region
of Global Vegan Drinks Market
2.
Executive
Summary
2.1. Global
Vegan Drinks Market Industry
Trends under COVID-19 Outbreak
2.1.1. Global
COVID-19 Status Overview
2.1.2. Influence
of COVID-19 Outbreak on Global Vegan
Drinks Market Industry Development
2.2. Market
Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact
Analysis of Drivers and Restraints
2.3. Pricing
Trends Analysis & Average Selling Prices (ASPs)
2.4. Key
Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s
Five Forces Analysis
2.5.1. Bargaining
Power of Suppliers
2.5.2. Bargaining
Power of Buyers
2.5.3. Threat
of Substitutes
2.5.4. Threat
of New Entrants
2.5.5. Competitive
Rivalry
2.6. Value
Chain / Ecosystem Analysis
2.7. PEST
Analysis
2.8. Russia-Ukraine
War Impacts Analysis
2.9. Economic
Downturn Analysis
2.10. Market
Investment Opportunity Analysis (Top Investment Pockets), By Segments & By
Region
3.
Global
Vegan Drinks Market Estimates &
Historical Trend Analysis (2020 - 2022)
4.
Global
Vegan Drinks Market Estimates &
Forecast Trend Analysis, Based On Type
4.1. Global
Vegan Drinks Market Revenue (US$ Mn) Estimates and Forecasts, Based On Type, 2023
to 2033
4.1.1. Vegan
hot drinks
4.1.2. Vegan
Cold drinks
4.1.3. Vegan
Juices
4.1.4. Others
5.
Global
Vegan Drinks Market Estimates &
Forecast Trend Analysis, Based On Source
5.1. Global
Vegan Drinks Market Revenue (US$ Mn) Estimates and Forecasts, Based On Source, 2023
to 2033
5.1.1. Soy
based
5.1.2. Coconut
based
5.1.3. Rice
based
5.1.4. Almond
based
5.1.5. Oats
based
5.1.6. Fruits
based
5.1.7. Hazelnut
based
5.1.8. Hemp
based
5.1.9. Cashew
based
5.1.10. Flax
based
5.1.11. Others
6.
Global
Vegan Drinks Market Estimates &
Forecast Trend Analysis, Based On Packaging Type
6.1. Global
Vegan Drinks Market Revenue (US$ Mn) Estimates and Forecasts, Based On
Packaging Type, 2023 to 2033
6.1.1. Cans
6.1.2. Bottles
6.1.3. Pouches
6.1.4. Others
7.
Global
Vegan Drinks Market Estimates &
Forecast Trend Analysis, Based On Sales Channel
7.1. Global
Vegan Drinks Market Revenue (US$ Mn) Estimates and Forecasts, Based On Sales
Channel, 2023 to 2033
7.1.1. B2B
7.1.2. B2C
8.
Global
Vegan Drinks Market Estimates &
Forecast Trend Analysis, Based On Flavour
8.1. Global
Vegan Drinks Market Revenue (US$ Mn) Estimates and Forecasts, Based On Flavour,
2023 to 2033
8.1.1. Plain
8.1.2. Flavoured
9.
Global
Vegan Drinks Market Estimates &
Forecast Trend Analysis, Based On Distribution Channel
9.1. Global
Vegan Drinks Market Revenue (US$ Mn) Estimates and Forecasts, Based On
Distribution Channel, 2023 to 2033
9.1.1. Hypermarkets
& Supermarkets
9.1.2. Convenience
Stores
9.1.3. Specialty
Stores
9.1.4. Online
9.1.5. Others
10. Global Vegan Drinks Market Estimates & Forecast Trend Analysis, By Region
10.1.
Global Vegan Drinks Market Revenue (US$ Mn) Estimates
and Forecasts, By Region, 2023 to 2033
10.1.1. North
America
10.1.2. Europe
10.1.3. Asia
Pacific
10.1.4. Middle
East & Africa
10.1.5. South
America
11. North America Vegan Drinks Market: Estimates & Forecast
Trend Analysis
11.1.
North America Vegan Drinks Market Assessments
& Key Findings
11.1.1. North
America Vegan Drinks Market Introduction
11.1.2. North America
Vegan Drinks Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
11.1.2.1. Based On Type
11.1.2.2. Based On Source
11.1.2.3. Based On Packaging Type
11.1.2.4. Based On Sales Channel
11.1.2.5. Based On Flavour
11.1.2.6. Based On Distribution Channel
11.1.2.7. By
Country
11.1.2.7.1.
The U.S.
11.1.2.7.2.
Canada
11.1.2.7.3.
Mexico
12. Europe Vegan Drinks Market: Estimates & Forecast
Trend Analysis
12.1. Europe
Vegan Drinks Market Assessments & Key Findings
12.1.1. Europe
Vegan Drinks Market Introduction
12.1.2. Europe
Vegan Drinks Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
12.1.2.1. Based On Type
12.1.2.2. Based On Source
12.1.2.3. Based On Packaging Type
12.1.2.4. Based On Sales Channel
12.1.2.5. Based On Flavour
12.1.2.6. Based On Distribution Channel
12.1.2.7. By
Country
12.1.2.7.1.
Germany
12.1.2.7.2.
U.K.
12.1.2.7.3.
France
12.1.2.7.4.
Italy
12.1.2.7.5.
Spain
12.1.2.7.6.
Russia
12.1.2.7.7.
Rest of Europe
13. Asia Pacific Vegan Drinks Market: Estimates & Forecast
Trend Analysis
13.1. Asia
Pacific Market Assessments & Key Findings
13.1.1. Asia
Pacific Vegan Drinks Market Introduction
13.1.2. Asia
Pacific Vegan Drinks Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
13.1.2.1. Based On Type
13.1.2.2. Based On Source
13.1.2.3. Based On Packaging Type
13.1.2.4. Based On Sales Channel
13.1.2.5. Based On Flavour
13.1.2.6. Based On Distribution Channel
13.1.2.7. By
Country
13.1.2.7.1.
China
13.1.2.7.2.
Japan
13.1.2.7.3.
India
13.1.2.7.4.
Australia
13.1.2.7.5.
South Korea
13.1.2.7.6.
ASEAN
13.1.2.7.7.
Rest of Asia Pacific
14. Middle East & Africa Vegan Drinks Market: Estimates & Forecast
Trend Analysis
14.1. Middle
East & Africa Market Assessments & Key Findings
14.1.1. Middle
East & Africa Vegan Drinks Market
Introduction
14.1.2. Middle
East & Africa Vegan Drinks Market Size Estimates and Forecast
(US$ Million) (2023 to 2033)
14.1.2.1. Based On Type
14.1.2.2. Based On Source
14.1.2.3. Based On Packaging Type
14.1.2.4. Based On Sales Channel
14.1.2.5. Based On Flavour
14.1.2.6. Based On Distribution Channel
14.1.2.7. By
Country
14.1.2.7.1. U.A.E.
14.1.2.7.2. Saudi
Arabia
14.1.2.7.3. Egypt
14.1.2.7.4. South
Africa
14.1.2.7.5. Rest
of Middle East & Africa
15. South America Vegan Drinks Market: Estimates & Forecast
Trend Analysis
15.1. South
America Market Assessments & Key Findings
15.1.1. South
America Vegan Drinks Market Introduction
15.1.2. South
America Vegan Drinks Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
15.1.2.1. Based On Type
15.1.2.2. Based On Source
15.1.2.3. Based On Packaging Type
15.1.2.4. Based On Sales Channel
15.1.2.5. Based On Flavour
15.1.2.6. Based On Distribution Channel
15.1.2.7. By
Country
15.1.2.7.1. Brazil
15.1.2.7.2. Argentina
15.1.2.7.3. Colombia
15.1.2.7.4. Rest
of South America
16. Competition Landscape
16.1. Global
Vegan Drinks Market Competition Matrix & Benchmarking, by Leading Players /
Innovators / Emerging Players / New Entrants
16.2. Global
Vegan Drinks Market Concentration & Company Market Shares (%) Analysis,
2022
17. Company Profiles
17.1. Oatly Group AB,
17.1.1. Company
Overview & Key Stats
17.1.2. Financial
Performance & KPIs
17.1.3. Product
Portfolio
17.1.4. Business
Strategy & Recent Developments
* Similar details would be provided for all the
players mentioned below
17.2. yfood Labs GmbH.,
17.3. Beverage Universe
17.4. Vegan Tipples
17.5. Chobani, LLC.
17.6. Vvegano,
17.7. PepsiCo, Inc,
17.8. THE BRIDGE S.R.L,
17.9. Guinness & Co.,
17.10. SIMANDL,
17.11. spol. s r. o,
17.12. The Good Pea Co.,
17.13. Soho Juice Co. Ltd,
17.14. PAISLEY DRINKS CO. LTD.,
17.15. SunOpta, Vvegano,
17.16. Starbucks,
17.17. The Coca-Cola Company,
17.18. Alfa Laval,
17.19. Archer Daniels Midland Company ,
17.20. BLUE DIAMOND GROWERS,
17.21. 1HAIN CELESTIAL GROUP, INC.,
17.22. LIVING HARVEST FOODS INC.,
17.23. ORGANIC VALLEY CROPP COOPERATIVE,
17.24. PANOS BRANDS LLC (KONINKLIJKE WESSANEN N.V.),
17.25. Hain Celestial Group,
17.26. Others**
18. Research Methodology
18.1. External
Transportations / Databases
18.2. Internal
Proprietary Database
18.3. Primary
Research
18.4. Secondary
Research
18.5. Assumptions
18.6. Limitations
18.7. Report
FAQs
19. Research Findings & Conclusion
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
The total global Vegan Drinks Market is estimated to reach around USD 75,000 Million by 2033 from about USD 20,000 Million in 2022 at a compound annual growth rate (CAGR) of 14%.
Some beers contain components of animal origin in their filtering processes. The famous Guinness brand recently switched its range of beers to 100% vegan.
Some of the major players operating within the market are Oatly Group AB,,yfood Labs GmbH.,,Beverage Universe,Vegan Tipples,Chobani, LLC.,Vvegano,,PepsiCo, Inc,,THE BRIDGE S.R.L,,Guinness & Co.,,SIMANDL,,spol. s r. o,,The Good Pea Co.,,Soho Juice Co. Ltd,,PAISLEY DRINKS CO. LTD.,,SunOpta, Vvegano,,Starbucks,,The Coca-Cola Company,,Alfa Laval,,Archer Daniels Midland Company ,,BLUE DIAMOND GROWERS,,1HAIN CELESTIAL GROUP, INC.,,LIVING HARVEST FOODS INC.,,ORGANIC VALLEY CROPP COOPERATIVE,,PANOS BRANDS LLC (KONINKLIJKE WESSANEN N.V.),,Hain Celestial Group,,Others.
North America is expected to account for the largest market share due to rise in trend of veganism and increase in consumer’s awareness towards health and fitness in this region.
}})
Only Four Thousand Seven Hundred Fifty US dollar
Only Five Thousand Seven Hundred Fifty US dollar
Only Seven Thousand Seven Hundred Fifty US dollar