Beverages Market – Market Outlook & Trends
The growing awareness
regarding the benefits of plant-based products, and the increase in the vegan
population are the significant factors that are enhancing the demand for
plant-based beverages and other products. Besides, growth in health awareness,
rise in per capita income, and growing consciousness toward chemical-free
products are some of the main elements that fuel the market development.
benefits related to conventional milk and milk-based products, as well as the
importance of low-cholesterol and regular low-fat milk and milk-based products,
confine the market growth. Nevertheless, the market is expected to offer
attractive business opportunities due to an increase in lactose intolerance and
a surge in inquiries for soy, rice, and almond milk proteins in the global
market. Moreover, the novelty in sources and flavors of plant-based food &
beverages brings a better chance for the players working in the market. Though,
fluctuating prices of raw materials and high prices act as a significant
limitation for this market.
Beverages Market – Overview
originate from all kinds of plant sources like seeds, grains, and nuts. Due to
their high nourishment content, plant-based drinks are considered as a suitable
substitute for cow’s milk. Plant-based beverages are growing in demand, due to
their health benefits and are expected to reach in every grocery store global
shortly. People are keen to try out plant-based beverages, but the beverages
need to be directly accessible, reasonably priced and good in taste. The report
on the global plant-based beverages market sheds more light on the advantages
of organic and vegetarian food ingesting.
Increase in Overall
The introduction of
supplementary healthy ingredients by diverse market players is a significant
feature that propels the development of the market. The increasing emphasis on
health and wellness among customers will aid the growth of the plant-based
beverages market. The rising chronic ailments such as diabetes, circulatory
diseases, and obesity have compelled consumers to look for healthier
alternatives for their preferred meals. In addition to this, innovative
wrapping solutions presented by manufacturers will appeal the consumption to an
increasing number of consumers.
Increase in Awareness
Concerning the Benefits of Plant-based Products and Growth in Vegan population
An increase in awareness
related to the benefits of plant-based products and growth in the number of
people consuming vegan products are the main factors that increase the demand
for plant-based beverages and other products.
have created an ample space among the customers who need nutrients in their
regular diets. The non-dairy drinks have a high amount of fibers, minerals,
vitamins, and other phytonutrients, providing all the nourishing benefits to
the customers. The consumers, who prefer a variety of savors and taste in their
milk, extensively use plant-based beverages. Besides, some people are not inclined
or are allergic to dairy milk, and they feel a deficiency in getting dairy
nutrients. For them, plant-based nutrients can be the best choice due to the
presence of all the required nutrients similar to that of dairy products.
Global Plant-Based Beverages
The plant-based beverage
market is segmented based on source, type, distribution channel, and
By source, the market is
divided into rice, soy, fruits, nuts, and others. Based on the source, the
fruits segment generated the highest revenue in 2018 and is expected to
continue the lead during the prediction period. The demand is attributable to
the surging requirement for products with high vitamins, zinc, and iron for
correct body health, in countries such as India and China.
Based on type, it is
split into plant-based milk, RTD tea & coffee, and juices. By type, the
plant-based milk was the most noticeable section accounting for a substantial
share in the global market. Growing lactose intolerant population induces demand
for plant-based chemical-free milk. However, the plant-based milk section is
anticipated to witness striking growth.
Based on the distribution
channel, the specialty stores section was the leading distribution channel with
most of the plant-based beverage market share in 2018. The development in the
market contributed to the feasibility of large retail set-ups like supermarkets
and hypermarkets in both the established and emerging markets. Furthermore, the
one-stop solution provided by these retail set-ups makes them an attractive
option for shopping by consumers. However, the online segment is also gaining
popularity and expected to notice the most substantial growth throughout the
forecast period, due to increased and accelerated use of mobiles and the internet.
plant-based beverage market is analysed across North America, Europe, Asia
Pacific, South America, and the Middle East & Africa. By region, North
America was the most prominent regional market in 2018 due to the growing trend
of veganism and raising consciousness among consumers concerning health and
fitness in the region.
Beverages Market: Regional insights
Consumers in advanced
countries can easily avail plant-based beverages, but in emerging countries,
the availability and feasibility of such products pose a challenge. The
significant development in the trend of vegan diets is noticed especially in
North America, accounting for maximum revenue shares. The market is expected to
move towards natural and healthy food choices to cope with their hectic living.
These regions are likely to observe high demand for plant-based due to rapid
growth noticed in the food and beverage sector too.
The known names in this
market are WhiteWave Foods Company, Blue Diamond Growers, SunOpta Inc., Earth’s
Own Food Inc., Living Harvest Foods Inc., Kikkoman Corporation, Rebel Kitchen,
Organic Valley, Panos Brands LLC, The Hain Celestial Group Inc., and Eden Foods
Inc. and some others.
Ø In March 2017, THE Coca-Cola Company acquired Unilever’s Ades
plant-based beverages business. This acquisition will help the company to
expand its portfolio of healthy drinks in the Latin American region. Ades is
well-known for selling soy-based products in that region, and this union will
aid the company to expand the market.
Ø RTD Tea & Coffee
Ø Plant-Based Milk
By Distribution Channel
Ø Hypermarkets & Supermarkets
Ø Convenience Stores
Ø Specialty Stores
Ø North America
Ø Asia Pacific
Ø South America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and estimate the Global Plant-Based Beverages Market size,
in terms of value.
Ø To examine the market segmentation carefully and estimate the
market size, in terms of value, based on the region by segmenting the Global Plant-Based
Beverages Market into five regions, namely, North America, Europe, Asia
Pacific, Rest of the World and their leading countries.
Ø To outline, categorize and project the Global Plant-Based
Beverages Market based on the Source, Type, Distribution Channel and Region.
Ø To study the trends, innovations in tastes, nutrients required
and other developments related to source, type and distribution channel within
the Global Plant-based Beverage Market.
Ø To highlight market dynamics such as drivers, restraints,
opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major
players, strategic profiles, and market shares.
Business Questions Answered by the Report
Ø How will the market drivers, restraints, and opportunities
affect the market dynamics?
Ø What will be the market size in terms of value and volume and
market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will
be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it
affect the existing and new players?
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is
why BlueWeave Consulting offers customization as per client’s specific needs.
The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis