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Plant drinks are beverages that can be substituted for dairy products. These beverages are plant-based and are thought to be a much healthier alternative to dairy products. Soy milk, rice milk, oat milk, cashew milk, coconut milk, flax milk, and almond milk are among the most popular plant-based beverage options worldwide. They are considered vigorous due to the presence of several essential vitamins and minerals. They are also low in fat, cholesterol, and contain no lactose. We looked at segmentation in the plant-based beverages market by product, source, and region.
Plant-based beverages Market Scope:
The report includes drivers to your advantage, restraints to help you overcome obstacles, and potential opportunities for the Plant-based beverages market. The Plant-based beverages market report also aids in understanding the consumer's interests and purchasing habits, how much your potential customers spend annually on the types of products or services you intend to offer, and the size of your business's potential market. The qualitative and quantitative data in the Plant-based beverages market study help to understand which market segments and regions are expected to grow the fastest, market factors influencing the market, and key opportunity areas.
Plant-based beverages Market Overview:
The report thoroughly examines the current Plant-based beverages Market and forecasts performance over the forecast period. The report profiles key market criteria to help stakeholders make sound business decisions. The report provides an overview of the Plant-based beverages market, highlighting standard topics and providing data that can be customised to meet specific needs. The report provides insight into the Plant-based beverages market, assisting in the understanding of future product demand and competitiveness. Market Overview provides detailed information on market size, regional share, and benchmarking of market players. The report aids in providing comprehensive knowledge of the Plant-based beverages market in order to redefine and fully utilise business strategies.
Plant-based beverages Market size
was valued at US$ 13.74 Bn. in 2020. The global Plant-based Beverage
Market is estimated to grow at a CAGR of 12.2% over the forecast period.
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Key Players:
Danone S.A (France)
Pacific Foods of Oregon, LLC (Canada)
LBlue Diamond Growers, Inc. (U.S)
SunOpta (Canada)
The Hain Celestial Group, Inc (New York)
Freedom Foods Group Ltd. (Australia)
Califia Farms (U.S)
Harmless Harvest (California)
Koia (U.S)
Vitasoy International Holdings Ltd. (Hong Kong)
Daiya Foods Inc. (Canada)
Taifun – Tofu Gmbh (Germany)
Garden Protein International Inc. (Canada)
Lightlife Foods Inc. (U.S)
Axiom Foods (U.S)
The report examines the Plant-based beverages market's key players in terms of company size, market share, market growth, revenue, production volume, and profits. The Report delves into key players' growth strategies, such as strategic alliance formation and new product innovation. The report aids in understanding the pricing strategies of competitors in the Plant-based beverages market so that pricing strategies can be analysed and developed accordingly.
Plant-based beverages Market Drivers:
Furthermore, the various benefits provided by plant-based drinks, such as improved muscle and mental health, may accelerate the market's growth. Growing awareness of the health benefits of vegetables, fruits, and nuts is propelling the plant-based beverage market forward. Increasing health consciousness among consumers as a result of their hectic and inactive lifestyle is regarded as the primary factor driving market growth.
Plant-based beverages Market Segmentation:
According to Source, the market is divided into Fruit, Soy, Nuts, Rice, and Others. Fruit Segment held 38.2% of the plant-based beverage market in 2020. This is due to an increase in demand in various countries such as India and China for products containing high levels of vitamins, zinc, and iron for proper body health. Customers prefer Plant-based fruits beverages made from berries, bananas, grapes, and mangoes. Because of the rise in health-conscious people in many emerging countries such as the United States and the United Kingdom, this category is in high demand, fueling market demand.
The Nuts segment, on the other hand, is expected to grow at a CAGR of 4.5% over the forecast period. Increased penetration of high-nutrition, cholesterol-free plant-based beverage products in countries such as the United States is expected to boost demand for nuts-based beverages. Better taste, low cholesterol, and low fat, as well as an increase in consumer demand for cholesterol-free products in countries such as Canada, are expected to open up lucrative opportunities for the plant-based beverages market.
The market is divided into three product categories: plain, flavoured, and others. In 2020, the Plain Product segment held 59.3% of the plant-based beverages market. Consumer adoption of highly nutritious plant-based beverages, as well as planned changes in governing regulations to encourage plant-based beverages, are likely to drive the market during the forecast period. The increased use of plain plant-based milk in the variety of beverages is expected to increase plant-based beverage trades. Leading companies provide a variety of almond-based, soy-based, coconut-based, oat-based, and rice-based beverages, and this segment is driving market growth.
The Flavoured segment, on the other hand, is expected to grow at a CAGR of 5.5% during the forecast period. Manufacturers are producing and mixing a variety of flavours to encourage the acceptance of beverages in many applications, such as smoothies, protein shakes, yoghurt drinks, and others. The category is expected to grow as a result of an increasing number of product launches in appealing flavours, which will fuel the growth of the plant-based beverages market.
Plant-based beverages Market Share Analysis:
The report examines key players in terms of their contributions to the Plant-based beverages market. In comparison to other players, it provides the concept of expanding the business in the Plant-based beverages market. In comparison to your company, the report includes key insights about market players based on revenue generation, product offering, and customer base. It depicts the growth, fragmentation, dominance, and merging characteristics of the Plant-based beverages market.
Regional Analysis:
Factors influencing the Plant-based beverages market in regions such as North America, Asia Pacific, the Middle East, Europe, and South America are discussed in the report. Legal barriers, geographic advantages, purchasing habits, and so on vary by region and country.
Key Questions answered in the Plant-based beverages Market Report are:
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Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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