Pune, Oct. 19, 2023 (GLOBE NEWSWIRE) --
"The Plant-Based Beverages Market was valued at USD 21.69 billion in 2022, and it is projected to reach USD 65.45 billion by 2030, with an anticipated compound annual growth rate (CAGR) of 14.8% during the forecast period from 2023 to 2030", as stated in the SNS Insider report.
Market Overview
Plant-based beverages are non-dairy drinks made from various plant sources, excluding animal-derived ingredients such as milk or eggs. These beverages are a diverse and expanding category, offering consumers a wide range of options to choose from. These beverages are often lower in saturated fats and cholesterol compared to traditional dairy milk. They can be suitable for individuals with lactose intolerance or those seeking to reduce their intake of animal products. The production of plant-based beverages typically has a lower environmental footprint, as it requires fewer natural resources and generates fewer greenhouse gas emissions than dairy farming.
Download PDF Sample Report: https://www.snsinsider.com/sample-request/1742
Market Analysis
One of the primary growth drivers for the plant-based beverages market is the growing emphasis on health and wellness. Consumers are becoming more health-conscious and are seeking alternatives to traditional dairy products. Plant-based beverages, such as almond, soy, oat, and coconut milk, are perceived as healthier options due to their lower saturated fat content and absence of cholesterol. These beverages are also often fortified with essential vitamins and minerals, catering to consumers' nutritional needs. Changing dietary preferences, including veganism and lactose intolerance, have significantly contributed to the expansion of the market. An increasing number of consumers are adopting vegan and dairy-free diets for ethical, environmental, and health reasons. Plant-based beverages are versatile and can be used as direct replacements for dairy milk in various recipes and applications. The environmental impact of the dairy industry, such as greenhouse gas emissions and water usage, has drawn attention to the sustainability of plant-based alternatives. Many consumers are choosing plant-based beverages because they are perceived as more eco-friendly. Manufacturers have also made efforts to reduce the carbon footprint of their products, emphasizing sustainability as a key selling point.
Plant-Based Beverages Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 21.69 billion |
| Market Size by 2030 | USD 65.45 billion |
| CAGR | CAGR of 14.8% over 2023-2030 |
| Key Segments | by Source (Fruits, Nuts, Rice, Soy, and Others) by Type (RTD Tea & Coffee, Plant-Based Milk, and Juices) by Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, and Online) |
| Key Market Players | Danone S.A, Pacific Foods of Oregon, LLC, Blue Diamond Growers, Inc., SunOpta, The Hain Celestial Group, Inc., Freedom Foods Group Ltd., Califia Farms, Harmless Harvest, Koia, Vitasoy International Holdings Ltd. and other players |
| Pricing & Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options. |
Key Takeaway from Plant-Based Beverages Market Study
- The fruits segment of plant-based beverages is emerging as a frontrunner in this burgeoning market. Fruit-based beverages, such as banana, strawberry, and mango smoothies, have become popular for their natural sweetness and refreshing taste. These beverages are packed with essential vitamins, minerals, and antioxidants, making them a favored choice among health-conscious consumers.
- Hypermarkets and supermarkets are poised to play a pivotal role in the growth of the plant-based beverages market. These retail giants have recognized the surging demand for plant-based alternatives and are making strategic moves to satisfy consumer preferences.
Recent Developments
- In a strategic move aimed at diversifying its product portfolio, Hochwald, a renowned player in the dairy industry, has ventured into the burgeoning plant-based segment. Hochwald's entry into the plant-based sector comes at a time when the demand for plant-based alternatives is skyrocketing due to increasing awareness of environmental sustainability and a growing preference for dairy-free options.
- SunOpta, a leading player in the food and beverage industry, has unveiled its state-of-the-art, $125 million plant-based beverage manufacturing facility. With consumers increasingly seeking out plant-based options due to their environmental and health benefits, SunOpta's substantial investment reflects the company's strategy to cater to this evolving market.
Ask For Discount For This Report: https://www.snsinsider.com/enquiry/1742
Market Dynamics Analysis
The plant-based beverages market has experienced remarkable dynamism in recent years, driven by a convergence of factors that underscore the evolving consumer preferences and dietary choices. The primary driver propelling this market is the increasing awareness of the health and environmental benefits associated with plant-based diets. With mounting concerns over obesity, heart diseases, and sustainability, consumers are opting for healthier, eco-conscious alternatives to traditional dairy and sugary beverages, fueling the growth of the plant-based beverage segment. Furthermore, the rising trend of veganism and lactose intolerance has significantly expanded the customer base for these products. However, this burgeoning market does not come without its set of challenges and restraints. One of the key challenges lies in the taste and texture of plant-based beverages, as consumers often compare them to their dairy counterparts. Companies must continually invest in research and development to enhance the organoleptic properties of these products. Additionally, cost can be a restraint, as some plant-based beverages tend to be priced higher than conventional dairy options. Moreover, the threat of increasing competition and oversaturation in the market poses a risk to existing players. As more companies enter the industry, differentiation and innovation will be pivotal for long-term success.
Key Regional Developments
North America stands as a significant player in the plant-based beverages market. The United States and Canada have been at the forefront of plant-based innovation, with an increasing number of consumers opting for dairy-free alternatives. This shift can be attributed to factors such as lactose intolerance, ethical concerns, and a growing awareness of the environmental impact of animal agriculture. Europe has been quick to embrace plant-based beverages, with consumers from countries like Sweden, Germany, and the UK actively driving the demand for these products. European consumers are showing a preference for a variety of plant-based milk, including almond, coconut, and rice milk. The Asia-Pacific region is witnessing an increasing appetite for plant-based beverages, particularly in countries like China and India. Rising health concerns, a surge in veganism, and a desire for healthier lifestyle choices are contributing to the growth of this market.
Impact of Recession
The ongoing recession has created a dynamic environment for the plant-based beverages market, with both challenges and opportunities. While economic uncertainty has led to shifts in consumer behavior and supply chain disruptions, the market has also seen increased interest in healthier alternatives and innovation. To thrive in this changing landscape, businesses in the plant-based beverages sector must remain agile, adapt to evolving consumer preferences, and navigate the economic challenges with resilience. As the global economy continues to recover, the market is poised for growth, driven by consumer demand for health-conscious choices and innovative product offerings. It is crucial for industry players to stay informed, anticipate market trends, and respond strategically to ensure their success in this evolving landscape.
Buy This Exclusive Report: https://www.snsinsider.com/checkout/1742
Table of Contents:
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Plant-based Beverages Market segmentation, By Source
8.1 Fruits
8.2 Nuts
8.3 Rice
8.4 Soy
8.5 Others
9. Global Plant-based Beverages Market segmentation, By Type
9.1 RTD Tea & Coffee
9.2 Plant-Based Milk
9.3 Juices
9.4 Others
10. Global Plant-based Beverages Market segmentation, By Distribution Channel
10.1 Hypermarkets & Supermarkets
10.2 Convenience Stores
10.3 Specialty Stores
10.4 Online
11. Global Plant-based Beverages Market, by region/ country
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company profiles
12.1 Danone S.A
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 Swot Analysis
12.1.4 The SNS View
12.2 Pacific Foods of Oregon, LLC
12.3 Blue Diamond Growers, Inc.
12.4 SunOpta,
12.5 The Hain Celestial Group, Inc.
12.6 Freedom Foods Group Ltd.
12.7 Califia Farms
12.8 Harmless Harvest
12.9 Koia
12.10 Vitasoy International Holdings Ltd.
13. Competitive Landscape
13.1 Competitive Bench Marking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
About SNS Insider
At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That's why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.
