Key Highlights
• Customers looking for low-cholesterol and low-fat options will choose these products. Plant-based beverages are viewed as a healthy market alternative that supplies vital vitamins and minerals to consumers. Plant-based milk beverages such as soybeans, almonds, and oats are extensively accepted around the world. While soy milk is more popular in Asian countries, oats and almond milks are popular in the US and Europe region. All of these milks are high in minerals and vitamins, which help to maintain the condition of the bones and muscles. These are also high in beneficial omega-3 fatty acids, which makes them ideal for the health-conscious individual.
• The global Plant-Based Beverages Market size was estimated at USD 32.13 billion in 2022 and it is expected to hit around USD 80.22 billion by 2032, poised to grow at a CAGR of 11.57% between 2023 and 2032.
• April’22 - Danone smashed a strategic agreement with CCU in Argentina for its water business. Pacific Foods announced in December 2022 that Little & Co. will serve as the company's principal strategy and creative agency.
• Increased instances of intolerance to lactose are one of the primary drivers of the global market for plant-based beverages. It is likely to grow at a rapid pace in the next years. Animal cruelty awareness has also grown, and numerous awareness campaigns around the world have played a vital part in raising awareness about the use of products that are free from cruelty. Rapid urbanisation and rising disposable income are two more factors influencing the development of the market. This plant-based beverages represents the healthiest dairy product substitute offered on the market. During the projection period, plant-based dairy goods will experience significant increase. It is an environmentally sound option that is often encouraged since they help lower carbon footprints.
Scope of the Industry Profile
Key Highlights
• Bayer AG
• Abbott
• DSM
• DuPont.
• Amway
• The Nature's Bounty Co.
• GlaxoSmithKline plc.
• Nestlé SA
• RiceBran Technologies
• Mead Johnson & Company, LLC.
• Medifast, Inc.
• Premier Nutrition Corporation
• TOOTSI IMPEX Inc.
• U.S. Spice Mills, Inc.
• Health Food Manufacturers' Association
• NOW Foods
• Glanbia PLC
• Herbalife International of America, Inc.
• Bionova
Segmentation
By Source
• Coconut
• Soy
• Almond
• Rice
• Oats
• Hemp
• Others
By Type
• Milk
• Juices
• Tea and Coffee
• Others
By Product
• Plain
• Flavoured
By Distribution Channel
• Hypermarkets and Supermarkets
• Specialty Stores
• Online Stores
• Others
By Application
• Sauce & Dressing
• Carbonated Soft Drink
• Cardiovascular Health
• Cancer Prevention
• Lactose Intolerant
• Bone Health
What To Expect from Industry Profile
1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Plant-based Beverages market in the world.
2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the global Plant-based Beverages market.
3. Leading company profiles reveal details of key Plant-based Beverages market players’ global operations, strategies, financial performance & their recent developments.
4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Plant-based Beverages market with forecast for decade by both market share (%) & revenue (USD Million).
Recent Developments
• Starbucks has announced the addition of speciality drinks made with plant-based milk to its vegan product line. This brand now includes vegan drinks and beverages such as the Shaken Espresso coffee & Ice Toasted Vanilla Oats Milk.
• Nestle introduced a soy-based variant of Milo, among the most popular beverages eaten worldwide.
• Plant Veda, a Vancouver-based firm, introduced vegan lassi. Real fruits & cashew nuts will be used to make this lassi. It includes probiotics & will not contain cane sugar.
• Heartbeat, a Mexican firm, introduced plant-based milk. This sugar-free milk will be available in plain and quinoa flavours.
Segment Insights
• During the projected period, the plant-based milk category is expected to create the most income. Lactose intolerance has increased in recent years around the world, increasing the value of plant-based milk. Plant-based beverages such as coconut milk & soy milk have health benefits. Healthy and nutritional beverages are in high demand in the market worldwide.
• Soy-based beverages have emerged as the largest contributor to market growth in recent years, based on source type. Due to the numerous health benefits linked with the intake of these beverages, this product has gained popularity around the world. Soy drinks are high in the mineral potassium, folic acid, vitamin B12, and protein.
• Supermarkets and hypermarkets are likely to have the greatest market share. The diversity of options available in supermarkets is likely to raise sales significantly. Supermarkets and hypermarkets sell a variety of products in a lot of developed countries. Designated space on shelves for these products, as well as the availability of diverse brands, would boost market growth.
Regional Insights
• The Asia Pacific area had the highest consumption of plant-based beverages. This tendency is projected to continue in the future years as vegan diet consumption rises. This region's health-conscious customers will boost market expansion. The growing acceptance of coconut & soy milk is expected to rise in countries such as Japan, India, and China. Coconut milk has tremendous potential in the Asia-Pacific area as India, Philippines, & Indonesian nations has highest production of coconuts in the Asia-Pacific region.
• The European region will have the high CAGR due to increasing consumer demand of nutrient-rich plant-based beverages. Government rules in European countries are being changed to favour plant-based beverages. Many new items are being introduced in nations like Spain, Germany & UK.
1 INTRODUCTION
1.1 Study Objectives
8 1.2 Market
Definitions
1.2.1 Inclusions & Exclusions
1.2.2 Region: Inclusions & Exclusions
1.2.3 Study Scope
1.2.3.1 Markets Covered
1.2.3.2 Regional Scope
1.2.3.3 Years Considered
1.2.4 Currency Considered
1.2.5 Limitations
1.2.6 Summary Of Report (Chapter Wise Summary)
2 RESEARCH METHODOLOGY
2.1 Research Data
2.1.1 Secondary & Primary Research
2.1.2 Secondary Data
2.1.2.1 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Sources
2.2 Market Breakdown & Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 EXECUTIVE SUMMARY
4 ACROSS THE GLOBE
4.1 Upcoming Attractive Market Opportunities
4.2 Country Wise Market Growth
4.3 Segment Wise Market Growth
5 MARKET OVERVIEW
5.1 Market Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 PORTOR’S Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Market Premium insights (Enterprise license)
5.4.1 Case Study Analysis
5.4.2 Country Wise Import & Export Data (If
Applicable)
5.4.3 Regulatory Bodies & Authorization
Across the Globe
5.4.4 Key Conferences & Events: 2022 &
2023
5.4.5 Top Patents for The Market: 2022
6 PLANT-BASED BEVERAGES MARKET
OVERVIEW, BY SOURCE
6.1 Global Market Revenue & Share Analysis, By Source
6.1.1 Coconut
6.1.2 Soy
6.1.3 Almond
6.1.4 Rice
6.1.5 Oats
6.1.6 Hemp
6.1.7 Others
6.2 Global Market Revenue & Share Analysis, 2018 – 2022
6.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
6.4 Key Takeaways
7 PLANT-BASED BEVERAGES MARKET
OVERVIEW, BY TYPE
7.1 Global Market Revenue & Share Analysis, By Type
7.1.1 Milk
7.1.2 Juices
7.1.3 Tea and Coffee
7.1.4 Others
7.2 Global Market Revenue & Share Analysis, 2018 – 2022
7.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
7.4 Key Takeaways
8 PLANT-BASED BEVERAGES MARKET
OVERVIEW, BY PRODUCT
8.1 Global Market Revenue & Share Analysis, By Product
8.1.1 Plain
8.1.2 Flavoured
8.2 Global Market Revenue & Share Analysis, 2018 – 2022
8.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
8.4 Key Takeaways
9 PLANT-BASED
BEVERAGES MARKET OVERVIEW, BY DISTRIBUTION CHANNEL
9.1 Global Market Revenue & Share Analysis, By Distribution
Channel
9.1.1 Hypermarkets and Supermarkets
9.1.2 Specialty Stores
9.1.3 Online Stores
9.1.4 Others
9.2 Global Market Revenue & Share Analysis, 2018 – 2022
9.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
9.4 Key Takeaways
10 PLANT-BASED BEVERAGES MARKET
OVERVIEW, BY FUNCTION
10.1 Global Market Revenue & Share Analysis, By Function
10.1.1 Sauce & Dressing
10.1.2 Carbonated Soft Drink
10.1.3 Cardiovascular Health
10.1.4 Cancer Prevention
10.1.5 Lactose Intolerant
10.1.6 Bone Health
10.2 Global Market Revenue & Share Analysis, 2018 – 2022
10.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
10.4 Key Takeaways
11 PLANT-BASED BEVERAGES MARKET
OVERVIEW, BY REGION
11.1 Global Market Revenue & Share Analysis, By Region
11.1.1 North America
11.1.2 Europe
11.1.3 Asia Pacific
11.1.4 Middle East & Africa
11.1.5 South America
11.2 Global Market Revenue & Share Analysis, 2018 – 2022
11.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
11.4 Key Takeaways
12 NORTH AMERICA MARKET
ANALYSIS
12.1 North America Market Revenue & Share Analysis, By Source
12.2 North America Market Revenue & Share Analysis, By Type
12.3 North America Market Revenue & Share Analysis, By Product
12.4 North America Market Revenue & Share Analysis, By
Distribution Channel
12.5 North America Market Revenue & Share Analysis, By Function
12.6 North America Market Revenue & Share Analysis, By Country
12.6.1 US
12.6.2 Canada
12.6.3 Mexico
12.7 Key Takeaways
13 EUROPE MARKET ANALYSIS
13.1 Europe Market Revenue & Share Analysis, By Source
13.2 Europe Market Revenue & Share Analysis, By Type
13.3 Europe Market Revenue & Share Analysis, By Product
13.4 Europe Market Revenue & Share Analysis, By Distribution
Channel
13.5 Europe Market Revenue & Share Analysis, By Function
13.6 Europe Market Revenue & Share Analysis, By Country
13.6.1 UK
13.6.2 Italy
13.6.3 Spain
13.6.4 Germany
13.6.5 France
13.6.6 Rest of Europe
13.7 Key Takeaways
14 ASIA PACIFIC MARKET ANALYSIS
14.1 APAC Market Revenue & Share Analysis, By Source
14.2 APAC Market Revenue & Share Analysis, By Type
14.3 APAC Market Revenue & Share Analysis, By Product
14.4 APAC Market Revenue & Share Analysis, By Distribution
Channel
14.5 APAC Market Revenue & Share Analysis, By Function
14.6 APAC Market Revenue & Share Analysis, By Country
14.6.1 China
14.6.2 Japan
14.6.3 India
14.6.4 South Korea
14.6.5 Rest of APAC
14.7 Key Takeaways
15 MIDDLE EAST & AFRICA MARKET
ANALYSIS
15.1 MEA Market Revenue & Share Analysis, By Source
15.2 MEA Market Revenue & Share Analysis, By Type
15.3 MEA Market Revenue & Share Analysis, By Product
15.4 MEA Market Revenue & Share Analysis, By Distribution
Channel
15.5 MEA Market Revenue & Share Analysis, By Function
15.6 MEA Market Revenue & Share Analysis, By Country
15.6.1 GCC
15.6.2 South Africa
15.6.3 Rest of MEA
15.7 Key Takeaways
16 SOUTH AMERICA MARKET ANALYSIS
16.1 SA Market Revenue & Share Analysis, By Source
16.2 SA Market Revenue & Share Analysis, By Type
16.3 SA Market Revenue & Share Analysis, By Product
16.4 SA Market Revenue & Share Analysis, By Distribution
Channel
16.5 SA Market Revenue & Share Analysis, By Function
16.6 SA Market Revenue & Share Analysis, By Country
16.6.1 Brazil
16.6.2 Argentina
16.6.3 Rest of SA
16.7 Key Takeaways
17 COMPETITIVE SCENARIO
17.1 Overview
17.2 Key Players Market Share Analysis
17.3 Recent Developments & Product Launches
17.4 Mergers & Acquisitions
17.5 Partnerships, Agreements & Collaborations
18 COMPANY PROFILES
18.1 Overview
18.2 Key players
18.2.1 Bayer AG
18.2.1.1 Business Overview
18.2.1.2 Products Offered
18.2.1.3 Financial Insights
18.2.1.4 Strategic Developments
18.2.1.4.1 New Product Launches
18.2.1.4.2 Agreements & Collaborations
18.2.1.5 Business Aspects (NOISE Analysis)
18.2.1.5.1 Key Strengths
18.2.1.5.2 Opportunities
18.2.1.5.3 Weaknesses & Competitive Threats
18.2.1.5.4 Needs & Improvements
18.2.2 Abbott
18.2.3 DSM
18.2.4 DuPont
18.2.5 Amway
18.2.6 The Nature's Bounty Co.
18.2.7 GlaxoSmithKline plc.
18.2.8 Nestlé SA
18.2.9 RiceBran Technologies
18.2.10 Mead Johnson & Company, LLC.
19 DISCLAIMER
20 APPENDIX
