The global plant-based beverages market 2020 is projected that the global plant-based beverage market will surge at a robust 8.50% CAGR to reach a valuation of USD 388.42 Billion by 2027.
The plant-based beverage market is rapidly growing in popularity due to its health benefits and environmental benefits. Plant-based beverages are made from plant-based ingredients such as nuts, seeds, fruits, and grains, and typically contain less sugar and fewer calories than traditional dairy-based beverages. Plant-based beverages are becoming increasingly popular as people look for healthier alternatives to dairy-based drinks.
This growth is expected to be driven by increased demand for healthy beverages and the growing vegan movement. The plant-based beverage market is being driven by health-conscious consumers who are attracted to the health benefits of plant-based beverages such as lower sugar levels, fewer calories, and higher levels of essential vitamins and minerals.
In addition to health benefits, the market for plant-based beverages is also being driven by environmental concerns. Plant-based beverages require fewer resources to produce than traditional dairy-based beverages, and are therefore more sustainable. Plant-based beverages are also seen as a way to reduce animal cruelty. This is appealing to consumers who are increasingly looking for products that are produced responsibly and ethically.
Segmental analysis of the global demand for plant-based beverages is carried out based on the source, form and medium of distribution.
The industry has been segmented into fruits, vegetables, nuts, seeds & leaves, soy and others depending on sources. During the forecast era, the fruit segment is projected to remain extremely lucrative. Over the analysis period, the segment achieved a USD 119 billion market value.
The market has been segmented into plant-based milk, RTD tea & coffee, juices, and others based on form. Currently, the juices category has the highest market share and is expected to hold its dominant position through 2019. During the forecast period, the segment is expected to experience high growth and hit a valuation of over USD 222 billion.
The industry has been segmented into store-based and non-store-based, depending on the distribution channel. The store-based portion accounted for the lion's share of the market in 2017.
The report comprises of analysis from Europe, North America, Asia Pacific (APAC), Latin America and the Middle East & Africa.
Of these, the highest market share is accounted for by Europe. The plant-based beverage industry in Europe secured a USD 76.43 billion valuations in 2017 and is anticipated to mature at a CAGR of 8.09 per cent by 2027.
The second-largest demand for plant-based drinks has arisen in North America. At present, the region's industry is worth over USD 69 billion and is projected to remain highly lucrative in 2019. The Asia-Pacific sector, meanwhile, is predicted to post the highest CAGR of 9.22 per cent during the forecast period.
Some of the major companies operating in the global Key plant-based beverages market Players include the 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. and SunOpta Inc.
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