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Plant-based Beverages Market is Anticipated to Grow US$ 76.53 Bn By 2030

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The global Plant-based Beverages market size is expected to reach USD 76.53 billion by 2030 and is expected to expand at a CAGR of 18.3% from 2021 to 2030.

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Growth Factors

Increasing health concerns have compelled consumers to shift their preference to vegan foods and beverages. The vegan population is significantly increasing owing to the rising prevalence of lactose intolerance and various kinds of food allergies.  is widely consumed across the globe as it has various similar benefits as dairy-based milk. Soy milk is widely used in various applications, such as bakeries and confectioneries. In addition, soy milk is a good source of protein, vitamin A, vitamin B-12, potassium, and isoflavones. It is also considered the best alternative for lactose-intolerant consumers. 

Report Highlights

the almond-based type segment dominated the market with a revenue share of more than 60%. The rising health consciousness, supportive government initiatives, and the introduction of various vegan products are anticipated to drive the market for plant-based beverages.

Consumers are focusing on increasing their immunity and maintaining their overall health through simple and nutritious vegetarian and plant-based foods and beverages. Consumers from developed as well as developing countries are showing a willingness to pay a premium price for beverages with better nutritional and medicinal benefits.

The plain product segment led the global market with a revenue share of over 69% in 2020. The growing adoption of highly nutritious plant-based beverages by consumers, along with expected amendments in governing laws to support plant-based beverages, is expected to drive the segment during the forecast period. On the other hand, the oat-based segment is estimated to register the fastest CAGR from 2021 to 2030.

The growing adoption of plain plant-based milk in several drinks is anticipated to boost the sales of plant-based beverages over the forecast period. Leading companies offer various almond-based, soy-based, coconut-based, oats-based, and rice-based beverages, several small- and medium-sized players are emerging to capture niche products segments, such as hemp-, hazelnut-, and flax-based beverages.

Asia Pacific accounted for the largest revenue share of over 76% in 2020. The increasing vegan population in the region, especially the millennials’ inclination toward plant-based, natural, and healthy foods and beverages, is likely to fuel the demand for plant-based beverages in Asia Pacific. Countries, such as China, India, and Thailand, have been adopting a healthy lifestyle by opting for healthy food options.

Key Players

  • Danone S.A
  • Pacific Foods of Oregon, LLC
  • LBlue Diamond Growers, Inc.
  • SunOpta
  • The Hain Celestial Group, Inc.
  • Freedom Foods Group Ltd.
  • Califia Farms
  • Harmless Harvest
  • Koia
  • Vitasoy International Holdings Ltd.
Report Coverage Details
Market Size US$ 76.53 billion by 2030
Growth Rate CAGR of 18.3% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Type, Product
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Danone S.A; Pacific Foods of Oregon, LLC; LBlue Diamond Growers, Inc.; SunOpta; The Hain Celestial Group, Inc.; Freedom Foods Group Ltd.; Califia Farms; Harmless Harvest; Koia; Vitasoy International Holdings Ltd.

Market Segmentation

  • Type
    • Soy-based
    • Coconut-based
    • Almond-based
    • Rice-based
    • Oats-based
    • Hemp-based
    • Hazelnut-based
    • Cashew-based
    • Flax-based
  • Product
    • Plain
    • Flavored
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Russia
      • Switzerland
      • Spain
    • Asia pacific
      • China
      • Thailand
      • South Korea
      • India
      • Australia
      • Japan
      • Taiwan
    • Central and South America
      • Brazil
      • Argentina
    • Middle East and Africa
      • South Africa
      • UAE
      • Saudi Arabia

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Product Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Plant-based Beverages Market, By Type

7.1.  Plant-based Beverages Market, by Type, 2021-2030

7.1.1.    Soy-based

7.1.1.1.        Market Revenue and Forecast (2016-2030)

7.1.2.    Coconut-based

7.1.2.1.        Market Revenue and Forecast (2016-2030)

7.1.3.    Almond-based

7.1.3.1.        Market Revenue and Forecast (2016-2030)

7.1.4.    Rice-based

7.1.4.1.        Market Revenue and Forecast (2016-2030)

7.1.5.    Oats-based

7.1.5.1.        Market Revenue and Forecast (2016-2030)

7.1.6.    Hemp-based

7.1.6.1.        Market Revenue and Forecast (2016-2030)

7.1.7.    Hazelnut-based

7.1.7.1.        Market Revenue and Forecast (2016-2030)

7.1.8.    Cashew-based

7.1.8.1.        Market Revenue and Forecast (2016-2030)

7.1.9.    Flax-based

7.1.9.1.        Market Revenue and Forecast (2016-2030)

Chapter 8.  Global Plant-based Beverages Market, By Product

8.1.  Plant-based Beverages Market, by Product, 2021-2030

8.1.1.    Plain

8.1.1.1.        Market Revenue and Forecast (2016-2030)

8.1.2.    Flavored

8.1.2.1.        Market Revenue and Forecast (2016-2030)

Chapter 9.  Global Plant-based Beverages Market, Regional Estimates and Trend Forecast

9.1.  North America

9.1.1.    Market Revenue and Forecast, by Type (2016-2030)

9.1.2.    Market Revenue and Forecast, by Product (2016-2030)

9.1.3.    U.S.

9.1.3.1.        Market Revenue and Forecast, by Type (2016-2030)

9.1.3.2.        Market Revenue and Forecast, by Product (2016-2030)

9.1.4.    Rest of North America

9.1.4.1.        Market Revenue and Forecast, by Type (2016-2030)

9.1.4.2.        Market Revenue and Forecast, by Product (2016-2030)

9.2.  Europe

9.2.1.    Market Revenue and Forecast, by Type (2016-2030)

9.2.2.    Market Revenue and Forecast, by Product (2016-2030)

9.2.3.    UK

9.2.3.1.        Market Revenue and Forecast, by Type (2016-2030)

9.2.3.2.        Market Revenue and Forecast, by Product (2016-2030)

9.2.4.    Germany

9.2.4.1.        Market Revenue and Forecast, by Type (2016-2030)

9.2.4.2.        Market Revenue and Forecast, by Product (2016-2030)

9.2.5.    France

9.2.5.1.        Market Revenue and Forecast, by Type (2016-2030)

9.2.5.2.        Market Revenue and Forecast, by Product (2016-2030)

9.2.6.    Rest of Europe

9.2.6.1.        Market Revenue and Forecast, by Type (2016-2030)

9.2.6.2.        Market Revenue and Forecast, by Product (2016-2030)

9.3.  APAC

9.3.1.    Market Revenue and Forecast, by Type (2016-2030)

9.3.2.    Market Revenue and Forecast, by Product (2016-2030)

9.3.3.    India

9.3.3.1.        Market Revenue and Forecast, by Type (2016-2030)

9.3.3.2.        Market Revenue and Forecast, by Product (2016-2030)

9.3.4.    China

9.3.4.1.        Market Revenue and Forecast, by Type (2016-2030)

9.3.4.2.        Market Revenue and Forecast, by Product (2016-2030)

9.3.5.    Japan

9.3.5.1.        Market Revenue and Forecast, by Type (2016-2030)

9.3.5.2.        Market Revenue and Forecast, by Product (2016-2030)

9.3.6.    Rest of APAC

9.3.6.1.        Market Revenue and Forecast, by Type (2016-2030)

9.3.6.2.        Market Revenue and Forecast, by Product (2016-2030)

9.4.  MEA

9.4.1.    Market Revenue and Forecast, by Type (2016-2030)

9.4.2.    Market Revenue and Forecast, by Product (2016-2030)

9.4.3.    GCC

9.4.3.1.        Market Revenue and Forecast, by Type (2016-2030)

9.4.3.2.        Market Revenue and Forecast, by Product (2016-2030)

9.4.4.    North Africa

9.4.4.1.        Market Revenue and Forecast, by Type (2016-2030)

9.4.4.2.        Market Revenue and Forecast, by Product (2016-2030)

9.4.5.    South Africa

9.4.5.1.        Market Revenue and Forecast, by Type (2016-2030)

9.4.5.2.        Market Revenue and Forecast, by Product (2016-2030)

9.4.6.    Rest of MEA

9.4.6.1.        Market Revenue and Forecast, by Type (2016-2030)

9.4.6.2.        Market Revenue and Forecast, by Product (2016-2030)

9.5.  Latin America

9.5.1.    Market Revenue and Forecast, by Type (2016-2030)

9.5.2.    Market Revenue and Forecast, by Product (2016-2030)

9.5.3.    Brazil

9.5.3.1.        Market Revenue and Forecast, by Type (2016-2030)

9.5.3.2.        Market Revenue and Forecast, by Product (2016-2030)

9.5.4.    Rest of LATAM

9.5.4.1.        Market Revenue and Forecast, by Type (2016-2030)

9.5.4.2.        Market Revenue and Forecast, by Product (2016-2030)

Chapter 10.  Company Profiles

10.1.              Danone S.A

10.1.1.  Company Overview

10.1.2.  Type Offerings

10.1.3.  Financial Performance

10.1.4.  Recent Initiatives

10.2.              Pacific Foods of Oregon, LLC

10.2.1.  Company Overview

10.2.2.  Type Offerings

10.2.3.  Financial Performance

10.2.4.  Recent Initiatives

10.3.              LBlue Diamond Growers, Inc.

10.3.1.  Company Overview

10.3.2.  Type Offerings

10.3.3.  Financial Performance

10.3.4.  Recent Initiatives

10.4.              SunOpta

10.4.1.  Company Overview

10.4.2.  Type Offerings

10.4.3.  Financial Performance

10.4.4.  Recent Initiatives

10.5.              The Hain Celestial Group, Inc.

10.5.1.  Company Overview

10.5.2.  Type Offerings

10.5.3.  Financial Performance

10.5.4.  Recent Initiatives

10.6.              Freedom Foods Group Ltd.

10.6.1.  Company Overview

10.6.2.  Type Offerings

10.6.3.  Financial Performance

10.6.4.  Recent Initiatives

10.7.              Califia Farms

10.7.1.  Company Overview

10.7.2.  Type Offerings

10.7.3.  Financial Performance

10.7.4.  Recent Initiatives

10.8.              Harmless Harvest

10.8.1.  Company Overview

10.8.2.  Type Offerings

10.8.3.  Financial Performance

10.8.4.  Recent Initiatives

10.9.              Koia

10.9.1.  Company Overview

10.9.2.  Type Offerings

10.9.3.  Financial Performance

10.9.4.  Recent Initiatives

10.10.           Vitasoy International Holdings Ltd.

10.10.1.               Company Overview

10.10.2.               Type Offerings

10.10.3.               Financial Performance

10.10.4.               Recent Initiatives

Chapter 11.  Research Methodology

11.1.              Primary Research

11.2.              Secondary Research

11.3.              Assumptions

Chapter 12.  Appendix

12.1.              About Us

Glossary of Terms

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