Dublin, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The "Plant-based Beverages Market Size, Share & Trends Analysis Report By Type (Coconut, Soy, Almond), By Product (Plain, Flavored), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global plant-based beverages market size is expected to reach USD 71.83 billion by 2030, registering a CAGR of 13.1% from 2023 to 2030
The global industry is poised for substantial growth as the concept of veganism gains traction, particularly in developed nations like the U.K., U.S., Australia, New Zealand, Germany, Italy, France, and Canada. This expanding awareness of veganism's benefits has created a fertile ground for plant-based beverage manufacturers.
Notably, even Middle Eastern countries like Israel and Saudi Arabia have seen a rise in their vegan populations, presenting promising avenues for industry growth. Both established players and newcomers in the market are actively embracing diverse market strategies, with a strong focus on new product launches and bolstering distribution networks to achieve extensive customer reach worldwide.
A pronounced demand for organically processed beverages is evident in Europe and North America. This heightened demand has prompted beverage companies to reformulate their offerings to adhere to stringent organic standards over time.
With increasing governmental backing for organic agriculture and a surge in consumer preference for organic food and beverages, the demand for organically processed plant-based beverages has experienced an upward trajectory.
Among the various segments, coconut-based beverages are projected to exhibit the highest compound annual growth rate (CAGR) during the forecast period. This growth is expected to be driven by an influx of new product launches within this category, which is anticipated to play a pivotal role in bolstering market expansion.
Moreover, the flavored plant-based beverages segment is also set to witness significant growth with a notable CAGR over the forecast period. Consumers' willingness to explore diverse flavors such as mango, pulp, and cocoa has encouraged innovation in the market.
Brands and companies are responding by introducing new flavors to their existing product portfolios, as well as engaging in strategic partnerships, collaborations, and dynamic marketing campaigns. These strategies have become instrumental in giving brands a competitive edge in this rapidly evolving industry landscape.
Plant-based Beverages Market Report Highlights
- The Asia Pacific was the largest region in 2022 owing to the increasing vegan/vegetarian population in countries including China, India, and Australia
- The flavored plant-based beverages segment is anticipated to register a considerable CAGR from 2023 to 2030
- New product launches in this segment by various brands are the key factor propelling the segment growth
- The coconut-based beverages segment is anticipated to register the fastest growth rate during the forecast period
- Key players in the industry are launching coconut-based beverages with added flavors to gain maximum share
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $26.8 billion |
| Forecasted Market Value (USD) by 2030 | $71.83 billion |
| Compound Annual Growth Rate | 13.1% |
| Regions Covered | Global |
Company Profiles
- Danone S.A.
- Pacific Foods of Oregon, LLC
- Blue Diamond Growers, Inc.
- SunOpta
- The Hain Celestial Group, Inc.
- Noumi Ltd.
- Califia Farms, LLC
- Harmless Harvest
- Koia
- Vitasoy International Holdings Ltd.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Plant-based Beverages Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing and Technology Outlook
3.2.3. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis - Porter's Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographics Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Key Observations & Findings
Chapter 5. Plant-based Beverages Market: Type Estimates & Trend Analysis
5.1. Type Movement Analysis & Market Share, 2022 & 2030
5.2. Coconut
5.3. Soy
5.4. Almond
Chapter 6. Plant-based Beverages Market: Product Estimates & Trend Analysis
6.1. Product Movement Analysis & Market Share, 2022 & 2030
6.2. Plain
6.3. Flavored
Chapter 7. Plant-based Beverages Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2022 & 2030
Chapter 8. Competitive Analysis
8.1. Recent developments & impact analysis, by key market participants
8.2. Company Categorization
8.3. Participant's Overview
8.4. Financial Performance
8.5. Product Benchmarking
8.6. Company Market Share Analysis, 2022 (%)
8.7. Company Heat Map Analysis
8.8. Strategy Mapping
For more information about this report visit https://www.researchandmarkets.com/r/ybvxe0
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