Plant-based Beverage Market

Health benefits propel plant-based beverages to $22.4B by 2026, fueled by fitness trends, veganism, and rising disposable income.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATE, February 12, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Plant-Based Beverage Market by Source, Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the plant-based beverage market size was valued at $13.5 billion in 2018, and is estimated to reach $22.4 billion by 2026, registering a CAGR of 6.7% from 2019 to 2026.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/purchase-enquiry/5767

The plant-based beverage are plant-based natural and chemical free milk products derived through grains, seeds, or nuts. Plant-based beverage act as a substitute for consumers who are allergic to dairy products or people who are on a vegan diet. Some of the major alternatives to dairy are non-dairy milk, ice cream, cheese, yogurts, juice, energy drinks, and soft drinks.

The factors that drive the plant-based beverage market growth include health benefits associated with consuming plant-based milk as they are high in micro and macronutrient content as well as low in fat and cholesterol content. Moreover, rise in fitness concerns among people in different regions also boost the market growth. In addition, increase in the number of lactose intolerant population, growth in trend of veganism, and rise in disposable income drive the market growth. However, increase in cost of raw materials due to unpredictable weather and high cost of production are expected to hamper the growth of the market during the forecast period. Moreover, rise in demand for alternatives to dairy by health-conscious consumers and frequent introduction of new flavors & variety are expected to provide numerous opportunities for the expansion of the plant-based beverage market.

The plant-based beverage market is segmented on the basis of source, type, distribution channel, and region. By source, the market is categorized into fruits, nuts, rice, soy, and others. By type, it is segmented into RTD tea & coffee, plant-based milk, and juices. Based on distribution channel, the market is categorized into hypermarkets & supermarkets, convenience stores, specialty stores, and online. Regionally, the market is classified into North America, Europe, Asia-Pacific, and LAMEA.

𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭 : https://www.alliedmarketresearch.com/connect-to-analyst/5767

According to the plant-based beverage market analysis by source, the fruits segment generated the highest revenue in 2018 and is expected to remain dominant throughout the forecast period. However, the nuts sources segment is expected to grow at the highest CAGR throughout the forecast period.

In 2018, the plant-based milk was the most prominent segment accounting for maximum share in the global plant-based beverage market. However, the others segment is expected to witness notable growth, with a CAGR of 3.7% from 2019-2026.

Based on the distribution channel, the speciality stores segment was the leading distribution channel with most of the plant-based beverage market share in 2018. However, the online segment is expected to witness the fastest growth throughout the forecast period.

Based on the plant-based beverage market forecast, Asia-Pacific and North America accounted for the maximum share in the global market in 2018 and is expected to remain dominant during the forecast period. Asia-Pacific is expected to grow with the highest CAGR throughout the forecast period, owing to rise in adoption of veganism among consumers.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 : https://www.alliedmarketresearch.com/checkout-final/1fd2b56d7f052f1116ff8772b3a9cdff

Key findings of the study

The plant-based beverage market was valued at $13,560 million in 2018, and is estimated to reach $22,448 million by 2026, growing at a CAGR of 6.7% throughout the forecast period.

Based on source, the nuts segment would witness the fastest growth, registering a CAGR of 8.1% during the forecast period.

In 2018, based on type, the plant-based milk segment held the highest share, in the plant-based beverage market.

In 2018, U.S. was the most prominent market in the North America and is expected to grow at a significant CAGR throughout the forecast period.

North America was the dominant region in 2018, accounting for 43.3% of the plant-based beverage market share.

📍 The key players in the plant-based beverage industry profiled in the report include :

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.
𝗘𝗱𝗲𝗻 𝗙𝗼𝗼𝗱𝘀 𝗜𝗻𝗰.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 : https://www.alliedmarketresearch.com/purchase-enquiry/5767

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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