The Worldwide Plant-based Beverages Industry is Expected to Reach $48.8 Billion by 2028

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Jan 16, 2023, 13:30 ET

DUBLIN, Jan. 16, 2023 /PRNewswire/ -- The "Global Plant-based Beverages Market Size, Share & Industry Trends Analysis Report by Product (Plain and Flavored), Type (Soy, Almond, Coconut, Oats and Others), Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Plant-based Beverages Market size is expected to reach $48.8 billion by 2028, rising at a market growth of 11.2% CAGR during the forecast period.

Plant-based beverages are beverages that can be substituted for dairy products. These plant-based beverages are considered a particularly healthful alternative to dairy products. Soymilk, rice milk, coconut milk, and almond milk are some of the most popular plant-based beverages. They are deemed healthy due to the presence of numerous vitamins and minerals. In addition, they are low in fat and cholesterol and contain no lactose.

Beverages derived from plants are the primary alternatives to dairy milk for those with dietary restrictions due to health concerns or a desire for plant-based cuisine. Although most media coverage of plant-based diets focuses on meat substitutes, dairy alternatives as well as plant-based beverages should not be neglected. In recent years, the market has risen gradually, with consumers with lactose intolerance and malabsorption driving the majority of the expansion.

Due to the dramatic growth of the plant-based health trend, the demand for plant-based foods and beverages is also increasing at a very rapid pace all over the world. For meals, snacks, drinks, and treats, millions of individuals throughout the world are replacing animal-based items with plant-based alternatives. Companies have a tremendous potential to ride this wave and become leaders in the exponentially growing segment.

As customers' dietary preferences evolve, so do their preferences for various beverages. While some deliberately adhere to a flexitarian, vegetarian, or vegan diet, others enjoy the flexibility to vary their cuisine. This has created an opportunity for enterprising manufacturers to create beverages that cater to the specific demands of people.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted a number of economies all over the world. various businesses, irrespective of their sizes, were majorly demolished owing to the abrupt emergence of the outbreak. The COVID-19 outbreak has had a favorable impact on the plant-based beverages market due to the increasing demand for nutritional products.

The adoption of plant-based beverages significantly increased during the pandemic as a result of the fact that plant-based beverages provide nourishment and promote immunity. The plant-based beverage can minimize the impact of the virus, due to which, more and more people consumed these products during the widespread infection.

Market Growth Factors

Wide Range of Varieties and Choices for Customers

One of the major factors that are significantly increasing the growth of the market is the availability of a wide range of bases as well as flavors of plant-based beverages throughout the world. Today's consumers seek variety in plant-based beverage and dairy substitute options. And because they no longer judge plant-based items based on their resemblance to dairy, this opens up a plethora of flavor and texture possibilities. It means that now is the ideal time to investigate what plant-based foods have to offer customers.

Enhances Gut Health While Increasing Sustainability and Shelf-Life

Increasing numbers of consumers are using items made specially to promote intestinal health. Beverages derived from plants and dairy substitutes are ideally positioned to lead the prebiotics as well as probiotic trend. Sustainability in food and beverages would play a significant role in the shift of consumer preferences towards environmental consciousness. This highlights the benefits of plant-based beverages and dairy substitutes. However, as the industry evolves, plant-based foods and beverages will also be evaluated.

Marketing Restraining Factor:

Lack of Taste and Texture Along with Lesser Health Benefits in Contrast to Dairy Milk

As the market has expanded, it has had to accommodate a completely new and different type of consumer. They have the option to consume dairy, therefore excellent flavor and texture are a must. Interestingly, this does not necessitate imitating the flavor and texture of dairy. They seek indulgence and are content for plant-based foods to taste like plants. This creates the potential for flavor and texture-rich dairy products.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 The Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 201, Jan - 2022, Jan) Leading Players

Chapter 4. Global Plant-based Beverages Market by Product
4.1 Global Plain Market by Region
4.2 Global Flavored Market by Region

Chapter 5. Global Plant-based Beverages Market by Type
5.1 Global Soy Market by Region
5.2 Global Almond Market by Region
5.3 Global Coconut Market by Region
5.4 Global Oats Market by Region
5.5 Global Others Market by Region

Chapter 6. Global Plant-based Beverages Market by Region

Chapter 7. Company Profiles
7.1 Danone S.A. (Sofina Group)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Recent Strategies and Developments
7.1.3.1 Acquisition and Mergers
7.2 Campbell Soup Company (Pacific Foods of Oregon, LLC)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent Strategies and Developments
7.2.5.1 Product Launches and Product Expansions
7.3 Blue Diamond Growers, Inc.
7.3.1 Company Overview
7.3.2 Recent Strategies and Developments
7.3.2.1 Product Launches and Product Expansions
7.4 SunOpta, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Recent Strategies and Developments
7.4.4.1 Acquisition and Mergers
7.4.4.2 Business Expansions
7.5 The Hain Celestial Group, Inc.
7.5.1 Company overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expense
7.6 Califia Farms LLC
7.6.1 Company Overview
7.6.2 Recent Strategies and Developments
7.6.2.1 Product Launches and Product Expansions
7.7 Koia
7.7.1 Company Overview
7.7.2 Recent Strategies and Developments
7.7.2.1 Product Launches and Product Expansions
7.8 Vitasoy International Group Co., Ltd.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Regional Analysis
7.9 Noumi Limited
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental Analysis

For more information about this report visit https://www.researchandmarkets.com/r/e236sp

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