Plant-Based Beverages Market Research Report - Forecast to 2027

Plant-Based Beverages Market: By Source (Fruits, Nuts, Vegetables, Soy, Seeds & Leaves and Others), By Type (RTD Tea & Coffee, Plant-Based Milk, Juices and Others) and By Distribution Channel (Store-Based and Non-Store Based) - Global Forecast till 2027

ID: MRFR/F-B & N/5054-CR | February 2021 | Region: Global | 131 Pages         

1 Executive Summary

2 Market Introduction

2.1 Definition 17

2.2 Scope of the Study 17

2.3 List of Assumptions 17

2.4 Market Structure 18

2.5 Key Takeaways 18

2.6 Key Buying Criteria 19

3 Research Methodology

3.1 Research Process 21

3.2 Primary Research 21

3.3 Secondary Research 22

3.4 Market Size Estimation 23

3.5 Forecast Model 24

4 Market Dynamics

4.1 Introduction 26

4.2 Drivers 27

4.2.1 Increasing Prevalence of Lactose Intolerance 27

4.2.2 Rising Demand for Natural and Clean Label Drinks 28

4.2.3 Growth of the Retail Sector in Asia-Pacific 28

4.3 Restraints 29

4.3.1 High Demand for Probiotic Drinks and Sugar-Free Carbonated Beverages 29

4.4 Opportunities 29

4.4.1 Rising Popularity of Cold Brew and Cold Pressed Beverages 29

4.4.2 Innovative Marketing Strategies 30

5 Market Factor Analysis

5.1 Value Chain Analysis 32

5.1.1 Raw Materials 32

5.1.2 Processing and Production 33

5.1.3 Packaging 33

5.1.4 Distribution and Sales 33

5.2 Supply Chain Analysis 34

5.3 Porter’s Five Forces Analysis 35

5.3.1 Threat of New Entrants 36

5.3.2 Bargaining Power of Suppliers 36

5.3.3 Threat of Substitutes 36

5.3.4 Bargaining Power of Buyers 36

5.3.5 Rivalry 36

6 Plant-Based Beverages Market, by Source

6.1 Overview 39

6.1.1 Fruits 39

6.1.2 Vegetables 39

6.1.3 Nuts 39

6.1.4 Seeds & Leaves 39

6.1.5 Soy 40

6.1.6 Others 40

7 Plant-Based Beverages Market, by Type

7.1 Overview 45

7.1.1 RTD Tea & Coffee 45

7.1.2 Juices 45

7.1.3 Plant-Based Milk 45

7.1.4 Others 45

8 Plant-Based Beverages Market, by Distribution Channel

8.1 Overview 49

8.1.1 Store-Based 49

8.1.2 Non-Store-Based 49

9 Global Plant-Based Beverages Market, by Region

9.1 Introduction 52

9.2 North America 53

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.2.1 US 56

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.2.2 Canada 58

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.2.3 Mexico 60

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.3 Europe 62

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.3.1 UK 65

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.3.2 Germany 67

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.3.3 France 69

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.3.4 Italy 71

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.3.5 Spain 73

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.3.6 Rest of Europe 75

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.4 Asia-Pacific 77

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.4.1 China 80

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.4.2 India 82

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.4.3 Japan 84

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.4.4 Australia and New Zealand 86

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.4.5 Rest of Asia-Pacific 88

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.5 Rest of the World 90

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.5.1 South America 93

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.5.2 Middle East 95

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

9.5.3 Africa 97

Plant-Based Beverages Market, by Source

Plant-Based Beverages Market, by Type

Plant-Based Beverages Market, by Distribution Channel

10 Competitive Landscape

11 Company Profiles

11.1 PepsiCo, Inc. 104

11.1.1 Company Overview 104

11.1.2 Financial Overview 104

11.1.3 Products Offered 105

11.1.4 Key Developments 105

11.1.5 SWOT Analysis 106

11.1.6 Key Strategies 106

11.2 The Coca-Cola Company 107

11.2.1 Company Overview 107

11.2.2 Financial Overview 107

11.2.3 Products Offered 108

11.2.4 Key Developments 108

11.2.5 SWOT Analysis 109

11.2.6 Key Strategies 109

11.3 Hain Celestial Group 110

11.3.1 Company Overview 110

11.3.2 Financial Overview 110

11.3.3 Products Offered 111

11.3.4 Key Development 111

11.3.5 SWOT Analysis 111

11.3.6 Key Strategies 112

11.4 Danone SA 113

11.4.1 Company Overview 113

11.4.2 Financial Overview 113

11.4.3 Products Offerings 114

11.4.4 Key Developments 114

11.4.5 SWOT Analysis 115

11.4.6 Key Strategies 115

11.5 Fresh Del Monte Produce Inc. 116

11.5.1 Company Overview 116

11.5.2 Financial Overview 116

11.5.3 Products Offered 117

11.5.4 Key Developments 117

11.5.5 SWOT Analysis 117

11.5.6 Key Strategies 117

11.6 Campbell Soup Company 118

11.6.1 Company Overview 118

11.6.2 Financial Overview 118

11.6.3 Products Offered 119

11.6.4 Key Developments 119

11.6.5 SWOT Analysis 120

11.6.6 Key Strategies 120

11.7 Califia Farms 121

11.7.1 Company Overview 121

11.7.2 Financial Overview 121

11.7.3 Products Offered 121

11.7.4 Key Developments 122

11.7.5 SWOT Analysis 122

11.7.6 Key Strategies 122

11.8 Koia 123

11.8.1 Company Overview 123

11.8.2 Financial Overview 123

11.8.3 Products Offered 123

11.8.4 Key Developments 123

11.8.5 SWOT Analysis 124

11.8.6 Key Strategies 124

11.9 Keurig Dr Pepper Inc. 125

11.9.1 Company Overview 125

11.9.2 Financial Overview 125

11.9.3 Products Offered 126

11.9.4 Key Developments 126

11.9.5 SWOT Analysis 126

11.9.6 Key Strategies 126

11.10 SunOpta Inc. 127

11.10.1 Company Overview 127

11.10.2 Financial Overview 127

11.10.3 Products Offered 128

11.10.4 Key Developments 128

11.10.5 SWOT Analysis 128

11.10.6 Key Strategies 128

12 Conclusion

12.1 Key Findings 130


13 List of Tables

TABLE 1 GLOBAL PLANT-BASED BEVERAGES MARKET, BY REGION, 2020-2027 (USD BILLION) 12

TABLE 2 GLOBAL: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 13

TABLE 3 GLOBAL: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 14

TABLE 4 GLOBAL: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 14

TABLE 5 LACTOSE SENSITIVITY LEVEL AND DAILY TOLERANCE LIMIT 27

TABLE 6 FAT, PROTEIN, AND LACTOSE CONTENT PROFILE OF VARIOUS MILK SOURCES 28

TABLE 7 FRUITS: GLOBAL PLANT-BASED BEVERAGES SOURCE MARKET, BY REGION, 2020-2027 (USD BILLION) 40

TABLE 8 VEGETABLES: GLOBAL PLANT-BASED BEVERAGES SOURCE MARKET, BY REGION, 2020-2027 (USD BILLION) 41

TABLE 9 NUTS: GLOBAL PLANT-BASED BEVERAGES SOURCE MARKET, BY REGION, 2020-2027 (USD BILLION) 41

TABLE 10 SEEDS AND LEAVES: GLOBAL PLANT-BASED BEVERAGES SOURCE MARKET, BY REGION, 2020-2027 (USD BILLION) 42

TABLE 11 SOY: GLOBAL PLANT-BASED BEVERAGES SOURCE MARKET, BY REGION, 2020-2027 (USD BILLION) 42

TABLE 12 OTHERS: GLOBAL PLANT-BASED BEVERAGES SOURCE MARKET, BY REGION, 2020-2027 (USD BILLION) 43

TABLE 13 RTD TEA AND COFFEE: GLOBAL PLANT-BASED BEVERAGES TYPE MARKET, BY REGION, 2020-2027 (USD BILLION) 46

TABLE 14 JUICES: GLOBAL PLANT-BASED BEVERAGES TYPE MARKET, BY REGION, 2020-2027 (USD BILLION) 46

TABLE 15 PLANT-BASED MILK: GLOBAL PLANT-BASED BEVERAGES TYPE MARKET, BY REGION, 2020-2027 (USD BILLION) 47

TABLE 16 OTHERS: GLOBAL PLANT-BASED BEVERAGES TYPE MARKET, BY REGION, 2020-2027 (USD BILLION) 47

TABLE 17 STORE-BASED: GLOBAL PLANT-BASED BEVERAGES DISTRIBUTION CHANNEL MARKET, BY REGION, 2020-2027 (USD BILLION) 50

TABLE 18 NON-STORE-BASED: GLOBAL PLANT-BASED BEVERAGES DISTRIBUTION CHANNEL MARKET, BY REGION, 2020-2027 (USD BILLION) 50

TABLE 19 NORTH AMERICA: PLANT-BASED BEVERAGES MARKET, BY COUNTRY, 2020-2027 (USD BILLION) 54

TABLE 20 NORTH AMERICA: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 54

TABLE 21 NORTH AMERICA: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 55

TABLE 22 NORTH AMERICA: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 55

TABLE 23 US: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 56

TABLE 24 US: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 56

TABLE 25 US: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 57

TABLE 26 CANADA: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 58

TABLE 27 CANADA: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 58

TABLE 28 CANADA: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 59

TABLE 29 MEXICO: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 60

TABLE 30 MEXICO: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 60

TABLE 31 MEXICO: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 61

TABLE 32 EUROPE: PLANT-BASED BEVERAGES MARKET, BY COUNTRY, 2020-2027 (USD BILLION) 63

TABLE 33 EUROPE: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 63

TABLE 34 EUROPE: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 64

TABLE 35 EUROPE: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 64

TABLE 36 UK: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 65

TABLE 37 UK: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 65

TABLE 38 UK: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 66

TABLE 39 GERMANY: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 67

TABLE 40 GERMANY: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 67

TABLE 41 GERMANY: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 68

TABLE 42 FRANCE: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 69

TABLE 43 FRANCE: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 69

TABLE 44 FRANCE: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 70

TABLE 45 ITALY: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 71

TABLE 46 ITALY: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 71

TABLE 47 ITALY: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 72

TABLE 48 SPAIN: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 73

TABLE 49 SPAIN: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 73

TABLE 50 SPAIN: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 74

TABLE 51 REST OF EUROPE: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 75

TABLE 52 REST OF EUROPE: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 75

TABLE 53 REST OF EUROPE: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 76

TABLE 54 ASIA-PACIFIC: PLANT-BASED BEVERAGES MARKET, BY COUNTRY, 2020-2027 (USD BILLION) 78

TABLE 55 ASIA-PACIFIC: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 78

TABLE 56 ASIA-PACIFIC: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 79

TABLE 57 ASIA-PACIFIC: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 79

TABLE 58 CHINA: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 80

TABLE 59 CHINA: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 80

TABLE 60 CHINA: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 81

TABLE 61 INDIA: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 82

TABLE 62 INDIA: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 82

TABLE 63 INDIA: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 83

TABLE 64 JAPAN: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 84

TABLE 65 JAPAN: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 84

TABLE 66 JAPAN: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 85

TABLE 67 AUSTRALIA AND NEW ZEALAND: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 86

TABLE 68 AUSTRALIA AND NEW ZEALAND: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 86

TABLE 69 AUSTRALIA AND NEW ZEALAND: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 87

TABLE 70 REST OF ASIA-PACIFIC: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 88

TABLE 71 REST OF ASIA-PACIFIC: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 88

TABLE 72 REST OF ASIA-PACIFIC: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 89

TABLE 73 REST OF THE WORLD: PLANT-BASED BEVERAGES MARKET, BY REGION, 2020-2027 (USD BILLION) 90

TABLE 74 REST OF THE WORLD: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 91

TABLE 75 REST OF THE WORLD: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 91

TABLE 76 REST OF THE WORLD: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 92

TABLE 77 SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 93

TABLE 78 SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 93

TABLE 79 SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 94

TABLE 80 MIDDLE EAST: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 95

TABLE 81 MIDDLE EAST: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 95

TABLE 82 MIDDLE EAST: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 96

TABLE 83 AFRICA: PLANT-BASED BEVERAGES MARKET, BY SOURCE, 2020-2027 (USD BILLION) 97

TABLE 84 AFRICA: PLANT-BASED BEVERAGES MARKET, BY TYPE, 2020-2027 (USD BILLION) 97

TABLE 85 AFRICA: PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 2020-2027 (USD BILLION) 98

TABLE 86 COMPETITIVE LANDSCAPE: GLOBAL PLANT-BASED BEVERAGES MARKET, BY DEVELOPMENT, 2020-2027101

14 List of Figures

FIGURE 1 GLOBAL PLANT-BASED BEVERAGES MARKET SHARE (%), BY REGION (2017 & 2023) 12

FIGURE 2 GLOBAL PLANT-BASED BEVERAGES MARKET SHARE (%), BY SOURCE (2017 & 2023) 13

FIGURE 3 GLOBAL PLANT-BASED BEVERAGES MARKET SHARE (%), BY TYPE (2017 & 2023) 14

FIGURE 4 GLOBAL PLANT-BASED BEVERAGES MARKET SHARE (%), BY DISTRIBUTION CHANNEL (2017 & 2023) 15

FIGURE 5 GLOBAL PLANT-BASED BEVERAGES MARKET: MARKET STRUCTURE 18

FIGURE 6 KEY TAKEAWAYS FROM THE GLOBAL PLANT-BASED BEVERAGES MARKET 18

FIGURE 7 KEY BUYING CRITERIA IN THE GLOBAL PLANT-BASED BEVERAGES MARKET 19

FIGURE 8 RESEARCH PROCESS OF MRFR 21

FIGURE 9 TOP-DOWN & BOTTOM-UP APPROACHES 23

FIGURE 10 MARKET DYNAMICS OF GLOBAL PLANT-BASED BEVERAGES MARKET 26

FIGURE 11 GLOBAL PREVALENCE OF LACTOSE INTOLERANCE IN ADULTS, BY REGION, 2016 27

FIGURE 12 VALUE CHAIN ANALYSIS: PLANT-BASED BEVERAGES MARKET 32

FIGURE 13 SUPPLY CHAIN ANALYSIS: PLANT-BASED BEVERAGES MARKET 34

FIGURE 14 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL PLANT-BASED BEVERAGES MARKET 35

FIGURE 15 GLOBAL PLANT-BASED BEVERAGES MARKET, BY SOURCE, 22020-2027 (USD BILLION) 40

FIGURE 16 GLOBAL PLANT-BASED BEVERAGES MARKET, BY TYPE, 22020-2027 (USD BILLION) 46

FIGURE 17 GLOBAL PLANT-BASED BEVERAGES MARKET, BY DISTRIBUTION CHANNEL, 22020-2027 (USD BILLION) 49

FIGURE 18 GLOBAL PLANT-BASED BEVERAGES MARKET, BY REGION, 22020-2027 (USD BILLION) 52

FIGURE 19 NORTH AMERICA: PLANT-BASED BEVERAGES MARKET, BY COUNTRY, 22020-2027 (USD BILLION) 53

FIGURE 20 EUROPE: PLANT-BASED BEVERAGES MARKET, BY COUNTRY, 22020-2027 (USD BILLION) 62

FIGURE 21 ASIA-PACIFIC: PLANT-BASED BEVERAGES MARKET, BY COUNTRY, 22020-2027 (USD BILLION) 77

FIGURE 22 REST OF THE WORLD: PLANT-BASED BEVERAGES MARKET, BY REGION, 22020-2027 (USD BILLION) 90

FIGURE 23 GLOBAL PLANT-BASED BEVERAGES MARKET: SHARE OF MARKET DEVELOPMENTS, BY KEY PLAYERS, 2020-2027100

FIGURE 24 GLOBAL PLANT-BASED BEVERAGES MARKET: ANALYSIS OF KEY DEVELOPMENTS 101

FIGURE 25 GLOBAL PLANT-BASED BEVERAGES MARKET: MARKET DEVELOPMENTS, 2020-2027102

Plant-Based Beverages Market

plant-based beverages is projected to acquire a size of USD 388.42 Bn by the end of 2027.

Segmentation

By Source Fruits Nuts Vegetables Soy Seeds & Leaves
By Type Rtd Tea & Coffee Plant Based Milk Juices
By Distribution Channel Store Based Non Store Based

Key Players

  • Coca-Cola Company PepsiCo Inc.
  • Hain Celestial Group
  • Danone SA
  • Fresh Del Monte Produce Inc.
  • Campbell Soup Company.
  • Califia Strategies
  • Koia Keurig Dr Pepper Inc.
  • SunOpta Inc.

Drivers

  • Increasing Prevaleance Of Lactose Intolerance
  • Rising Demand For Natural And Clean Lable Drinkd
  • Growth Of The Retail Sector In Asia-Pacific
Speak to Analyst Request a Free Sample

Plant-Based Beverages Market Overview


The MRFR report suggests that the global market for plant-based beverages is projected to acquire a size of USD 388.42 Bn by the end of 2027. Furthermore, the market is estimated to flourish at a healthy CAGR of over 8.5% during the review timeframe.


Plant-based beverages, called "plant milk" or "plant-based milk," are prepared by extracting plant material in water, such as grain or seeds. They are also used as substitutes for dairy milk. On the other hand, from the nutritional perspective, plant-based beverages and dairy milk are different types of food. Common plant-based beverages include oat milk, rice milk, cashew milk, coconut milk, flax milk, almond milk, and soy milk. The global market for plant-based beverages has registered rapid growth in the last few years. The market's growth is primarily attributed to the surging animal activism across the globe.


Furthermore, the factors such as increasing demand for the non-dairy beverage, the growing prevalence of chronic ailments among the growing population, expanding global population, and the increasing requirement for various healthy drinks are projected to boost the market's growth over the forecasted era. On the other hand, fluctuation in raw materials prices can impede the market's growth over the coming years. In addition, the increasing demand for probiotic drinks can impose a major challenge for the market's growth.


Impact of COVID-19 on the Global Market for Plant-Based Beverages


COVID-19 has positively affected the plant-based beverages industry during the COVID era due to the surging requirement for a nutritional product. The plant-based beverages provide nutrition and boost immunity that is likely to favor the market growth. The plant-based beverage can reduce the impact of the virus which is expected to enhance demand for such beverages that can strengthen the market during the pandemic.


Plant-Based Beverages Market Dynamics


Drivers


Growing Adoption of Non-Dairy Beverage to Boost the Market Growth during the Forecast Tenure


The surging animal activism and increasing demand for the non-dairy beverage are likely to be a significant factor during the assessment tenure. Besides, the growing prevalence of chronic ailments among the expanding populace is expected to grow the need for nutritional drinks that is likely to be another salient cause that can augment the market during the assessment tenure.


Plant-Based Beverages Market Opportunities


Growing Health Consciousness among the Expanding Populace to Boost the Market during the Review Timeframe


The increasing requirement for various healthy and non-dairy drinks and the expanding population is projected to offer a significant opportunity in strengthening the market during the forecast timeframe.


Restraints


Fluctuation in Prices of Raw Material to Hinder the Market During the Review Period


The fluctuation in prices of raw materials is expected to affect the demand for non-dairy drinks that can hinder the market rise during the review timeframe.


Challenges


Increasing Demand for Probiotic Drinks to Hamper the Market during the Assessment Timeframe


The increasing demand for probiotic drinks can pose a considerable challenge in market growth during the forecast timeframe.


Cumulative Market Growth Analysis


MRFR asserts that the global market for plant-based beverages is predicted to showcase a notable rise during the analysis timeframe due to the surging demand for non-dairy nutritional drinks. COVID-19 is expected to bring a positive impact on the market owing to the growing demand for nutritional drinks that can help to boost immunity.


Plant-Based Beverages Market Segmentation


The segmental assessment of the Global Market for Plant-Based is done by Distribution Channel, Source, and Type


By Distribution Channel


The distribution channel-based segments of the global market for plant-based are store-based and non-store based. The store-based segment is likely to make the most significant participation during the analysis timeframe due to the increasing inclination towards the one-stop-shopping preference.


By Source


The source-based segments of the global market for plant-based are soy, seeds and leaves, vegetables,  fruits, nuts,  and others. Among all, the seeds and leaves segment is expected to make the most significant contribution in strengthening the market during the forecast period.


By Type


The type-based segments of the global market for plant-based are juices, plant-based milk, RTD tea & coffee, and others. The juices segment has been estimated to reach a valuation of USD 222.5 Bn by 2023.


Plant-Based Beverages Market Regional Analysis


As per the analysis conducted by MRFR, the global market for a plant-based beverage is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).


Europe is Expected to Dominate the Global Market During the Analysis Timeframe


Europe is projected to lead the global market during the review timeframe owing to the growing adoption of a healthy lifestyle. The increasing adoption of veganism is anticipated to be another salient cause that can boost the demand for such beverages, thereby augmenting the market during the review period. In addition, the innovation of beverages is projected to enhance the market during the review timeframe.


North America to Acquire the Market Value of USD 111.4 Mn by 2023


As per the analysis by MRFR, North America is anticipated to acquire the market value of USD 111.4 million by 2023, owing to the growing demand for plant-based beverages. The increasing innovation by various key players is expected to strengthen the market during the forecast period. Also, the growing promotional activities undertaken by the industrialists is projected to boost the regional market during the evaluation tenure.


APAC to Expand at a CAGR of 9.22% during the Assessment Period


APAC is expected to grow at a CAGR of 9.22% during the forecast period owing to the rising per capita income of the middle-class population. The increasing demand for plant-based beverages and the growing awareness about veganism are other salient factors that are projected to augment the regional market during the review period. Also, the rising initiatives to innovate beverages is anticipated to strengthen the trade during the assessment period. In addition, the presence of developing countries such as India, China, and Japan are likely to make a significant contribution in the coming period.


Rest of the World (RoW) is Anticipated to Witness Steady Growth During the Forecast Period


The RoW is expected to witness steady growth during the forecast period owing to the growing awareness about plant-based beverages. The regional market is anticipated to grow at a CAGR of 8.75% by 2023. The region is likely to witness sluggish growth as compared to other regions. However, the Middle East can make a notable contribution in boosting the regional market growth during the forecast period.


Plant-Based Beverages Market Competitive Landscape


The rising acquisitions and the increasing partnerships among the established key players are projected to intensify the market competition. The accelerating requirement for nutritional beverages is likely to encourage players to produce innovative products that are expected to increase the number of new players entering the market. The surging demand for such a drink is likely to offer profitable opportunities for market growth and thereby accelerating the competition in the coming period.


Key Players Listed in the Market Report



  • Coca-Cola Company

  • PepsiCo, Inc.

  • Hain Celestial Group

  • Danone SA

  • Fresh Del Monte Produce Inc.

  • Campbell Soup Company.

  • Califia Strategies

  • Koia, Keurig Dr Pepper Inc.

  • SunOpta Inc.


Report Overview


The report comprises an exhaustive study of the global market for plant-based beverages. The report is an extensive study of the market, consisting of Porter’s Five-Factor analysis and supply chain analysis. The report highlights the manufacturing technology and the applications that describe market growth. Based on this information, the market is evaluated into various segments, which informs about the market share during the analysis timeframe. The other market dynamics have also been analyzed across an array of developments, which provides a solid hold of the market in the assessment period.

Recent Development



  • March 2022- Starbucks has recently announced the doubling down on its vegan development, incorporating exciting new plant-based milk specialty drinks into its selection. The company is welcoming the spring season by introducing Iced Toasted Vanilla Oat Milk Shaken Espresso drink. The latest dairy-free drink will join the brand's expanding list of dairy-free shaken espresso drinks and vegan-friendly beverages.

  • February 2022 – Nestlé, a prominent Swiss food giant, has thrived the Thailand beverage market by introducing a new soy-based version of chocolate malt beverage firm favorite, Milo.


Segmentation Table


Plant-Based Beverages Market, By Distribution Channel



  • Store-Based

  • Non- Store Based


Plant-Based Beverages Market, By Source



  • Fruits

  • Vegetables

  • Nuts

  • Seeds and Leaves

  • Soy

  • Others


Plant-Based Beverages Market, By Type



  • RTD tea & Coffee

  • Juices

  • Plant-Based Milk

  • Others



Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

plant-based beverages market is projected to grow at approximately 8.50% CAGR during the assessment period (2018-2023).

plant-based beverages market is estimated to reach a valuation of approx. USD 388.42 BN by the end of 2023.

Based on source, the seeds & leaves segment, based on the type, the juices segment, and based on the distribution channel, the store based segment holds majority shares in the global plant-based beverages market.

North America holds the largest share in the global plant-based beverages market, followed by the Asia Pacific and the rest-of-the-world, respectively.

PepsiCo, Inc., SunOpta Inc., Campbell Soup Company, Koia, Hain Celestial Group, Keurig Dr. Pepper Inc., Danone SA, Califia Strategies, Fresh Del Monte Produce Inc., and The Coca-Cola Company, are some of the top players operating in the global plant-based beverages market.

Rising demand for natural and clean label drinks among the consumers is encouraging the key players of plant-based beverages market to expand their business portfolio in the global market


Major key players listed in the plant-based beverages market include PepsiCo, Inc. (US), The Coca-Cola Company (US), Hain Celestial Group (US), Danone SA (France), Fresh Del Monte Produce Inc. (US), Campbell Soup Company (US), Califia Farms (US), Koia (US), Keurig Dr Pepper Inc. (US), and SunOpta Inc. (Canada), among others. Plant-based beverages have an established market throughout the globe. Increasing health conscious population, growing prevalence of lactose-intolerance, and high rising demand for natural and clean labeled drinks are some of the factors driving the growth of the market.  Also, the growth in the marketing strategies adopted by the key players acts as a driver for the growth of the global plant-based beverages market. These listed players account for the major developmental share in the global plant-based beverages market. To compete with the new players entering the plant-based beverages market, the established players follow certain strategies to sustain their consumer base.


Danone SA is witnessed to account for the highest market share in terms of development and is projected to constitute 20.3% of the developmental share in the global plant-based beverages market. The company is majorly focusing on product launch and offering more options to the consumers through its wide range of product offerings. For instance, the company launched Caava, an RTD tea in Indonesia on March 2018; also, it launched a new Mizone with taurine and green tea and ginseng extract in China on March 2017. Moreover, the company is also investing in increasing its production capacity to fulfill the increasing demand for which it expanded its plant-based beverage production facility and warehouse in Mt Crawford, Virginia, US with an investment of USD 60 million on October 2017.  


The Coca-Cola Company accounted for a share of 16.5% of the overall development in the global plant-based beverages market. This company is involved into diversified strategic developments. It is highly investing into R&D and launch of new products widening their product portfolio. The company is focusing into new product launches offering a wide range of products to the consumers and is also undergoing acquisitions and business expansion to have a sustainable growth. For instance; the company acquired Ades which is a plant-based beverage from Unilever on March 2017. Moreover, on May 2018, the company opened two production lines at Kyje, Prague, to manufacture plant-based drinks.


PepsiCo Inc. also holds a prominent place in the market with strong focus on new product launches and business expansion. The company has a broad range of product offerings and is further involved into R&D for innovative product launch. For instance, the company expanded its R&D at its New York campus on February 2017. Moreover, it launched a new plant-based drink, Quaker Oat Beverage, in the US under its Quaker brand on November 2018.


The other key players are also found to have a high focus on strategic product launch to seek consumers’ attention towards their product range. They are also involved in the strategic agreement which will further support the company to expand and reach out to consumers across the regions. Acquisitions are also made to mark the company’s presence and expand their business line. Additionally, the companies are inclined towards product promotions and strengthening their marketing base. The promotional strategy aids in retaining the existing customers and to regenerating new customer base.