Plant-Based Beverages Market Size to Expand by over 12% During 2019 – 2026, Forecasts Fairfield Market Research

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Global Plant-Based Beverages Market was Valued at US$15.3 Bn in 2019 and Will Reach Past the Valuation of US$34.8 Bn by 2026 End

London, Aug. 08, 2022 (GLOBE NEWSWIRE) -- The rise of health food sector has been encouraging several other F&B segments over the recent past. With unprecedented growth of low-calorie F&B products, plant-based foods and beverages have also been garnering greater traction in global markets. Plant-based beverages market is particularly expected to exhibit more than 12% growth during 2019 – 2026. In one of its latest published reports, Fairfield Market Research forecasts a robust growth outlook for global plant-based beverages market between 2021 and 2026. The market size surpassed the revenue of US$15.3 Bn in 2019 and is forecast to exceed US$34.8 Bn by the end of 2026. As several brands make it a point to leverage the thriving popularity of natural, healthier drinks to introduce innovative drink products, plant-based beverages market is likely to flourish. The report highlights ready-to-drink category as a highly untapped white space for manufacturers of plant-based beverages.

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Soaring Popularity of Non-dairy Products Creates Strong Tailwinds for Plant-based Beverages

While veganism has created a huge trend wave driving a mass consumer shift away from dairy, alternative sources of high-quality protein continue to be a major concern. The need for protein however remains the key trend that drives sales of plant-based beverages. An increasing number of claims on the equivalent quality of (plant-based) green protein as that of the conventional animal protein further bolster adoption. Consumers are now more receptive toward plant-based protein and non-dairy is being increasingly perceived as high-protein. This scenario reflects a strong breeding ground for plant-based beverages market, especially in the US as the country has more than 45% of the consumer preferring non-dairy milk alternatives.

Regulatory Deficit Remains a Major Impediment

Several mid-sized companies that are potentially seeking opportunity in the plant-based space continue to struggle because of the exorbitant initial investments required in R&D. Unless with the specific disease-related health claims, plant beverages are typically regulated as food supplements, but the regulation most likely varies from region to region. It majorly emphasizes the legitimacy of any claims, rather than the quality, safety, and efficacy. Currently, brands continue to be challenged by the differing laws, and the lack of stringent regulations regarding the manufacturing and processing of plant-based beverages. This lack of standardisation may have a severe impact on consumers if they are consuming probiotics as per a clinical guideline for inflammatory bowel diseases (IBD). This will thus remain an impediment facing plant-based beverages market in long term.

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North America Leads, Asia Pacific All Set to Emerge Highly Lucrative

North America will remain the leading regional market for plant-based beverages through 2026, majorly attributing to continuous product launches, and explosive growth in demand for health drinks. Rapid developments in the field of sports nutrition will also favour the expansion of plant-based beverages market expansion in the region. Increasing awareness about largely prevalent conditions like obesity, and inflammatory bowel disease (IBD) will further heighten demand in North American market. On the other hand, the report indicates Asia Pacific as a high-potential market for plant-based beverages as the region is likely to exhibit the fastest growth during the period of projection. Evolving consumer lifestyles, and an increasing accessibility of speciality products will offer a collective push to the market here.

Plant-based Beverages Market Competition

The report provides detailed profiling and strategic insights into the highly diverse and competitive market for plant-based beverages landscape. Some of the leading market players that have been considered for competitive analysis include Pureharvest, Califia Farms LP, Danone SA, Good Karma Foods, Inc., Ripple Foods, Koia, PBC, Blue Diamond Growers, and Harmless Harvest Inc.

REPORT SCOPE & SEGMENTATION:

REPORT FEATURES

DETAILS

Sources Coverage

  • Almond

  • Soy

  • Coconut

  • Rice

  • Others (cashew, oats, pea, and hemp)

Functionality Coverage

  • Cardiovascular health

  • Cancer prevention

  • Bone health

  • Lactose-free alternative

  • Qualitative segment

Geographical Coverage

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

  • Rest of the World (RoW)

Leading Companies

  • Califia Farms LP

  • Good Karma Foods, Inc.

  • Danone SA

  • Ripple Foods, PBC

  • Koia

  • Harmless Harvest Inc

  • Pureharvest

  • Blue Diamond Growers

Report Highlights

Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Product-, Application-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis, Key Trends

Table of Contents:

1. Executive Summary
     1.1. Global Plant-based Beverages Market Snapshot
     1.2. Future Projections
     1.3. Key Market Trends
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions
     2.2. Market Taxonomy
     2.3. Market Dynamics
            2.3.1. Drivers
            2.3.2. Restraints
     2.4. Value Chain Analysis
     2.5. Porter’s Five Forces Analysis
     2.6. Covid-19 Impact Analysis
     2.7. Key Patents

3. Global Plant-based Beverages Market Outlook, 2018 - 2026
     3.1. Global Plant-based Beverages Market Outlook, by Functionality, Value (US$ ‘000), 2018 - 2026
            3.1.1. Key Highlights
                  3.1.1.1. Cardiovascular health
                  3.1.1.2. Cancer prevention
                  3.1.1.3. Bone health
                  3.1.1.4. Lactose-free alternative
                  3.1.1.5. Qualitative segment
            3.1.2. BPS Analysis/Market Attractiveness Analysis
     3.2. Global Plant-based Beverages Market Outlook, by Sources, Value (US$ ‘000), 2018 - 2026
            3.2.1. Key Highlights
                  3.2.1.1. Almond
                  3.2.1.2. Soy
                  3.2.1.3. Coconut
                  3.2.1.4. Rice
                  3.2.1.5. Others (cashew, oats, pea, and hemp)
            3.2.2. BPS Analysis/Market Attractiveness Analysis
     3.3. Global Plant-based Beverages Market Outlook, by Region, Value (US$ ‘000), 2018 - 2026
            3.3.1. Key Highlights
                  3.3.1.1. North America
                  3.3.1.2. Europe
                  3.3.1.3. Asia Pacific
                  3.3.1.4. Latin America
                  3.3.1.5. Middle East & Africa
            3.3.2. BPS Analysis/Market Attractiveness Analysis

TOC Continued…!

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