Plant-Based Beverages Market Size Worth USD 388.42 Billion by 2027 at 8.5% CAGR - Report by Market Research Future (MRFR)
Market Research Future
7 min read
Market Research Future
Plant-Based Beverages Market Size and Trends by Source (Fruits, Nuts, Vegetables, Soy, Seeds & Leaves and Others), By Type (RTD Tea & Coffee, Plant-Based Milk, Juices and Others) and By Distribution Channel (Store-Based and Non-Store Based) - Global Forecast till 2027
New York, US, July 19, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Plant-Based Beverages Market Information by Source, Type, Distribution Channel, and Region- Forecast till 2027”, the market is estimated to acquire a size of over USD 388.42 Bn by the end of 2027. The report further predicts the market to thrive at a healthy CAGR of over 8.5% during the review timeframe.
Market Scope:
Plant-based beverages, sometimes known as "plant milk" or "plant-based milk," are gaining immense popularity in recent years. They are typically made by extracting plant material, such as grain or seeds, in water. They are also utilized as dairy milk substitutes. Plant-based beverages and dairy milk, on the other hand, are nutritionally distinct types of food. Oat milk, rice milk, cashew milk, coconut milk, flax milk, almond milk, and soy milk are examples of popular plant-based beverages.
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Source, Type, Distribution Channel
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers
Growing Adoption of Non-Dairy Beverage
Growing Health Consciousness among the Expanding Populace
Competitive Dynamics:
Rising acquisitions and increased collaboration among established key players are assessed to increase market competition. The increasing demand for nutritional beverages is likely to encourage players to develop innovative products, which will increase the number of new players entering the market. The rising demand for such a beverage is likely to provide profitable opportunities for market growth, accelerating competition in the coming period. The major market players analyzed by MRFR are as follows:
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.
SunOpta Inc.
Market Dynamics:
Market Drivers:
In recent years, the global market for plant-based beverages has expanded rapidly. The market's expansion is primarily due to increased animal advocacy around the world. Furthermore, factors such as rising non-dairy beverage demand, rising prevalence of chronic disorders among the growing population, expanding worldwide population, and rising demand for various healthy drinks are assessed to drive market expansion throughout the estimated period. Raw material price fluctuations, on the other hand, may stymie market expansion in the coming years. Furthermore, rising demand for probiotic drinks may represent a significant obstacle to the market's expansion. Increasing animal activism and demand for non-dairy beverages are projected to be key factors during the assessment period. Furthermore, the rising prevalence of chronic diseases among the growing population is predicted to increase the demand for nutritional drinks, which is going to be another significant factor that would boost the market during the assessment period. The growing demand for various healthy and non-dairy drinks, as well as the growing population, are assessed to provide considerable opportunities for market growth during the forecast period.
The variation in raw material prices is projected to impair demand for non-dairy drinks, stifling market growth throughout the review period.
COVID-19 Evaluation:
COVID-19 has had a favorable impact on the plant-based beverage business during the COVID era due to the increased demand for nutritional products. Plant-based beverages deliver nutrition and immune boosts, which is anticipated to support market expansion. The plant-based beverage can minimize the virus's impact, which is projected to increase demand for such beverages, strengthening the market during the pandemic. As a result of the increased demand for nutritional drinks that can assist boost immunity, COVID-19 is likely to have a favorable influence on the market.
Market Segmentation:
By Distribution Channel
Because of the growing tendency for one-stop shopping, the store-based sector is projected to have the most substantial participation during the analysis timeframe.
By Source
The seeds and leaves section is predicted to make the most important contribution to market strength during the forecast period, with a large market value over the review period.
By Type
Due to customer demand, the juices segment is assessed to reach a valuation of USD 222.5 billion by 2023.
Regional Analysis of the Plant-Based Beverage Market
According to MRFR's research, the global market for plant-based beverages is divided into four regions: Asia-Pacific, North America, Europe, and the Rest of the World (RoW).
Because of the increasing acceptance of a healthy lifestyle, Europe is assessed to lead the global market throughout the study period. Another significant factor that is assessed to enhance demand for such beverages and hence augment the market throughout the research period is the increasing popularity of veganism. Furthermore, beverage innovation is assessed to boost the market during the research period.
According to MRFR's estimate, North America's market value is assessed to reach USD 111.4 million by 2023, owing to rising demand for plant-based beverages. During the projected period, the market is slated to be strengthened by increased innovation by various key players. Furthermore, the increasing promotional activities done by industrialists are assessed to improve the regional market during the evaluation period.
APAC is predicted to develop at a CAGR of 9.22 percent during the projection period, owing to increased middle-class per capita income. Other notable aspects that are assessed to boost the regional market throughout the review period include rising demand for plant-based drinks and rising vegan awareness. Furthermore, expanding activities to reinvent beverages are assessed to improve the trade during the evaluation time. Furthermore, developing economies such as China, India, and Japan are assessed to make major impact in the coming years.
The RoW is predicted to rise steadily during the projection period due to increased awareness of plant-based beverages. By 2023, the regional market is assessed to increase at an 8.75 percent CAGR. In comparison to other regions, the region is assessed to grow slowly. However, the Middle East has the potential to make a noteworthy contribution to regional market growth over the forecast period.
Organic Virgin Coconut Oil Market Global Research Report by Packaging Type (Bottles & Jars, Pouches and others), Distribution Channel (Store-Based (Hypermarkets & Supermarkets, Convenience Stores and others) Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027
Soy Food Market Research Report: By Type (Textured Vegetable Protein (TVP), Soymilk, Soy Oil, Tofu, and Others), Category (Organic and Conventional), Distribution Channel (Store-Based and Non-Store-Based), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2027
Organic Chips Market Research Report: By Source (Vegetables, Fruits, Chips & Grains, and Others), Distribution Channel (Store-Based [Supermarkets & Hypermarkets, Convenience Stores, and Others] and Non-Store-Based) and Region (North America, Europe, Asia-Pacific, and Rest of the World)— Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
CONTACT: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
