Global Plant-Based Beverages Market, by Source (Fruits, Nuts, Rice, Soy, and Others), Type (RTD Tea & Coffee, Plant-Based Milk, and Juices), and Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, and Online), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa); Trend Analysis, Market Competition Scenario & Outlook, 2016-2026

Published:
August 2020
Report Code:
BWC20115
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plant based beverages market bwc20115

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Global Plant-Based 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.

 

However, exceptional 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.

 

Global Plant-Based Beverages Market – Overview 

 

Plant-based beverages 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.

 

Growth Drivers 

 

Increase in Overall Health Consciousness

 

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.

 

Plant-based beverages 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 Market: Segmentation

 

The plant-based beverage market is segmented based on source, type, distribution channel, and region. 

 

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.

 

Regionally, the 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.

Global Plant-Based 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.

 

Competitive Landscape


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.


Recent Development 

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.

 

By Source

 

Ø  Fruits

Ø  Nuts

Ø  Rice

Ø  Soy

Ø  Others

 

By Type

 

Ø  RTD Tea & Coffee

Ø  Plant-Based Milk

Ø  Juices

 

By Distribution Channel

 

Ø  Hypermarkets & Supermarkets

Ø  Convenience Stores

Ø  Specialty Stores

Ø  Online

 

By Region

 

Ø  North America

Ø  Europe

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

 

 









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