Plant-based Beverages Market Size to Reach $66.53 Billion by 2028 | Key Players and Revenue Forecast

Posted on 2022-09-07 by researchinsights in Food & Beverage // 0 Comments

San Francisco, California , USA, Sept 07, 2022 — /EPR Network/ —

Plant-based Beverages Industry Overview

The global plant-based beverages market size was valued at USD 22,859.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.3% from 2021 to 2028.

Increasing health concerns have compelled consumers to shift their preference to vegan foods and beverages. The vegan population is significantly increasing owing to the rising prevalence of lactose intolerance and various kinds of food allergies. Soy milk is widely consumed across the globe as it has various similar benefits as dairy-based milk. Soy milk is widely used in various applications, such as bakeries and confectioneries. In addition, soy milk is a good source of protein, vitamin A, vitamin B-12, potassium, and isoflavones. It is also considered the best alternative for lactose-intolerant consumers.

Gather more insights about the market drivers, restrains and growth of the Global Plant-based Beverages market

Hemp-based drinks are also gaining popularity among consumers owing to their health benefits and pain relief properties. In addition, various governments across the globe are removing CBD and Hemp from illicit drugs and promoting these drinks. These supportive policies encourage beverage manufacturers to launch new products in the market.

Moreover, the rising demand for organic agro products, as they are free from harmful chemicals, is compelling manufacturers to use plant-based raw materials in their beverages. Moreover, Fairtrade Sourcing, halal certification, and kosher certification can help manufacturers reach a wide base of customers across the globe.

The dairy industry is also known to have an adverse impact on the environment, which is compelling more and more consumers to switch to non-dairy alternatives. According to the World Wildlife Fund, millions of farmers worldwide tend approximately 270 million dairy cows to produce milk. Dairy cows and their manure produce Greenhouse Gas (GHG) emissions, which contribute to climate change. Poor handling of manure and fertilizers can degrade local water resources, and unsustainable dairy farming and feed production can lead to the loss of ecologically important areas, such as prairies, wetlands, and forests.

Browse through Grand View Research’s Consumer F&B Industry Research Reports.

Cheese Snacks Market – The global cheese snacks market size was valued at USD 64.68 billion in 2021 and is expected to expand at a CAGR of 6.3% from 2022 to 2030.
Reduced Sugar Food & Beverages Market – The global reduced sugar food & beverages market size was valued at USD 46.18 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030.

Plant-based Beverages Market Segmentation

Grand View Research has segmented the global plant-based beverages market on the basis of type, product, and region:

Plant-based Beverages Type Outlook (Volume, Million Liters; Revenue, USD Million, 2016 – 2028)
- Soy-based
- Coconut-based
- Almond-based
- Rice-based
- Oats-based
- Hemp-based
- Hazelnut-based
- Cashew-based
- Flax-based
Plant-based Beverages Product Outlook (Volume, Million Liters; Revenue, USD Million, 2016 – 2028)
- Plain
- Flavored
Plant-based Beverages Regional Outlook (Volume, Million Liters; Revenue, USD Million, 2016 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa

Key Companies profiled:

Some prominent players in the global Plant-based Beverages market include

Danone S.A
Pacific Foods of Oregon, LLC
Blue Diamond Growers, Inc.
SunOpta
The Hain Celestial Group, Inc.
Freedom Foods Group Ltd.
Califia Farms
Harmless Harvest
Koia
Vitasoy International Holdings Ltd.

Order a free sample PDF of the Plant-based Beverages Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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