Plant-Based Beverage Market: Valued at $19.39 Billion in 2023 with Projected 12.2% CAGR Growth Ahead

𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐆𝐫𝐨𝐰𝐭𝐡:

𝐏𝐥𝐚𝐧𝐭-𝐛𝐚𝐬𝐞𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at US$ 19.39 Bn. in 2023. The global Plant-based Beverage Market is estimated to grow at a CAGR of 12.2% over the forecast period.

𝐏𝐥𝐚𝐧𝐭-𝐛𝐚𝐬𝐞𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Plant-based drinks are beverages that can serve as alternatives to dairy products. These drinks are derived from plants and are considered a healthy substitute for traditional dairy. Some of the most popular plant-based beverages worldwide include soy milk, rice milk, oat milk, cashew milk, coconut milk, flax milk, and almond milk. They are highly regarded for their nutritional value, containing essential vitamins and minerals, while being low in fat, cholesterol, and free from lactose. The plant-based beverages market is analyzed based on product type, source, and regional distribution.

The vegan population is growing rapidly, with soy milk standing out as the most popular plant-based beverage due to its high nutritional value and richness in vitamins and minerals. It is widely consumed globally as it offers similar benefits to dairy milk.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/req_sample/Plant-based-Beverages-Market/286

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐏𝐥𝐚𝐧𝐭-𝐛𝐚𝐬𝐞𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬?

Consumer Preference for Healthy and Nutritious Beverages Driving Market Growth:

Plant-based dairy alternatives are not only appealing to vegans and those looking to incorporate more plant foods into their diet, but also to individuals who are allergic to dairy products or sensitive to lactose. The rising prevalence of lactose intolerance, particularly in developed countries like the U.S. and Canada, has created significant opportunities for plant-based beverages, contributing to market growth.

Additionally, plant-based drinks offer various health benefits, including improved muscle and mental health, which further boost market expansion. Growing awareness about the benefits of consuming vegetables, fruits, and nuts is also driving the plant-based beverages market. The increasing health consciousness among consumers, driven by hectic and sedentary lifestyles, is a key factor propelling market growth.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐏𝐥𝐚𝐧𝐭-𝐛𝐚𝐬𝐞𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 ?

In 2023, North America held a dominant 40.2% share in the plant-based beverages market. The rising consumer demand for plant-based foods due to their health benefits has significantly boosted the regional market. The demand is growing as these products offer natural and distinctive ingredients. The strong market presence in North America allows consumers to easily access plant-based products online. Increasing health awareness in the U.S. is leading to a shift towards lower sugar and fat intake, along with higher protein consumption and balanced nutrition.

Moreover, the market growth in North America is supported by increased consumer spending power and the growing adoption of vegan diets. A heightened focus on fitness, particularly among millennials and younger generations, is another factor driving market expansion in the U.S.

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰! @https://www.stellarmr.com/report/req_sample/Plant-based-Beverages-Market/286

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐏𝐥𝐚𝐧𝐭-𝐛𝐚𝐬𝐞𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 ?

By Product

Plain
Flavoured
Others

By Source

Fruit
Soy
Nuts
Rice
Others

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐥𝐚𝐧𝐭-𝐛𝐚𝐬𝐞𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

Danone S.A (France)
Pacific Foods of Oregon, LLC (Canada)
LBlue Diamond Growers, Inc. (U.S)
SunOpta (Canada)
The Hain Celestial Group, Inc (New York)
Freedom Foods Group Ltd. (Australia)
Califia Farms (U.S)
Harmless Harvest (California)
Koia (U.S)
Vitasoy International Holdings Ltd. (Hong Kong)
Daiya Foods Inc. (Canada)
Taifun - Tofu Gmbh (Germany)
Garden Protein International Inc. (Canada)
Lightlife Foods Inc. (U.S)
Axiom Foods (U.S)

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐥𝐞𝐚𝐬𝐞 𝐕𝐢𝐬𝐢𝐭:https://www.stellarmr.com/report/Plant-based-Beverages-Market/286

𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

Past Market Size and Competitive Landscape
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. Firm research on many topics like Healthcare, Pharmaceuticals, Electronics and communications, Chemical and Material, Food and Beverages, Aerospace and defense, and other sectors. The company provide numerous services i.e. consultancy, Market Intelligence, Syndicate Research etc. to help executives in any organization and consumers achieve their mission-critical goals.

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