Plant Based Beverages Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Source (Almond, Soy, Coconut, Rice, Others), By Product Type (Milk, Other Drinks), And Geography - Forecasts From 2019 To 2024

Published:  Jun 2021 Report Code: KSI061612254 Pages: 127

The Plant-Based Beverages Market is projected to grow at a CAGR of 4.91% to reach US$12.105 billion by 2024, from US$9.080 billion in 2018. The growing shift towards plant-based products from animal-based products is a major factor driving the plant-based beverage market.

Further, the rapidly expanding beverage industry and increasing consumer preference for vegan foods are boosting the market growth. Moreover, nutritional benefits associated with plant-based beverages coupled with increasing health consciousness among the population is fueling the plant-based beverage market further. Additionally, increasing investment and product innovation by major players is propelling the market growth for plant-based beverages. The plant-based beverage market has been segmented on the basis of source, product type, and geography. In the source, the segment almond is anticipated to grow at a substantial rate. In the product type, Milk is projected to hold a significant share on account of the growing health concerns. Geographically, Asia-Pacific is projected to be a prominent region due to the presence of emerging countries like India and China which increase investment in new manufacturing facilities and rising foreign investments. Additionally, the rising beverage consumption in the region is also contributing to the growth of the plant-based beverage market during the forecast period.

DRIVERS

  • Growing beverage industry.
  • Rising consumer preference for healthier beverages.  

RESTRAINT

  • Presence of substitutes.

INDUSTRY UPDATE

  • In June 2019, Blue Diamond Grower launched a new product, Almond Breeze Almond-Milk Horchata.
  • In January 2019, The Coca-Cola Company acquired Chi Ltd., a leading company in beverages like juices and value-added dairy.
  • In January 2019, Blue Diamond, the world's leading almond marketer and processor, today announced two new Almond Breeze products, an Almond-Milk Creamer and Almond-Milk Blended with Real Bananas.
  • In April 2017, Danone S.A. acquired WhiteWave a leading beverage manufacturing company. With this acquisition, Danone and WhiteWave combined their activities in North America and started operating under a single business unit, named DanoneWave.   

The major players profiled in the Plant-Based Beverage market include Danone S.A., The Hain Celestial Group, Califia Farms, Pacific Foods of Oregon, Pureharvest, Sunopta, Blue Diamond Growers, Ripple Foods, The Coca-Cola Company, and Pulmuone Foods USA Inc.  

Plant-Based Beverages Market Scope:

Report Metric Details
 Market size value in 2018  US$9.080 billion
 Market size value in 2024  US$12.105 billion
 Growth Rate  CAGR of 4.91% from 2018 to 2024
 Base year  2018
 Forecast period  2019–2024
 Forecast Unit (Value)  USD Billion
 Segments Covered  Source, Product Type, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Danone S.A., The Hain Celestial Group, Califia Farms, Pacific Foods of Oregon, Pureharvest, Sunopta, Blue Diamond Growers, Ripple Foods, The Coca-Cola Company, Pulmuone Foods USA Inc.
 Customization scope  Free report customization with purchase

Segmentation

The Plant-Based Beverage market has been analyzed through the following segments:

  • By Source
    • Almond
    • Soy
    • Coconut
    • Rice
    • Others 
  • By Product Type
    • Milk
    • Other Drinks 
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the global plant-based beverages market?
A1. Plant-Based Beverages market was valued at US$9.080 billion in 2018.


Q2. What will be the plant-based beverages market size by 2024?
A2. The plant-based beverages market is projected to reach a total market size of US$12.105 billion by 2024.


Q3. What are the growth prospects for the plant-based beverages market?
A3. The global plant-based beverages market is projected to grow at a CAGR of 4.91% during the forecast period.


Q4. What factors are anticipated to drive the plant-based beverages market growth?
A4. The growing shift towards plant-based products from animal-based products is a major factor driving the plant-based beverage market.


Q5. Which region holds the largest market share in the plant-based beverages market?
A5. Geographically, Asia-Pacific is projected to hold a significant share in the plant-based beverages market owing to the presence of emerging countries like India and China which are increasing investment in new manufacturing facilities and rising foreign investments.

1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY  
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Force Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. PLANT-BASED BEVERAGES MARKET BY SOURCE
5.1. Almond
5.2. Soy 
5.3. Coconut 
5.4. Rice 
5.5. Other
6. PLANT-BASED BEVERAGES MARKET BY PRODUCT TYPE
6.1. Milk
6.2. Other drinks
7. PLANT-BASED BEVERAGESMARKET BY GEOGRAPHY
7.1. North America
7.1.1. USA
7.1.2. Canada
7.1.3. Mexico
7.1.4. Others
7.2. South America
7.2.1. Brazil
7.2.2. Argentia
7.2.3. Others
7.3. Europe
7.3.1. Germany
7.3.2. France
7.3.3. United Kingdom
7.3.4. Italy
7.3.5. Spain
7.3.6. Others
7.4. Middle East and Africa
7.4.1. Saudi Arabia
7.4.2. United Arab Emirates
7.4.3. Others
7.5. Asia Pacific
7.5.1. China
7.5.2. Japan
7.5.3. India
7.5.4. Australia
7.5.5. Others
8. COMPETITIVE INTELLIGENCE
8.1. Competition and Offerings Analysis of Key Vendors
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. COMPANY PROFILES
9.1. The Hain Celestial Group
9.2. Califia Farms
9.3. Pacific Foods of Oregon
9.4. The Whitewave Foods Company 
9.5. Pureharvest 
9.6. Sunopta 
9.7. Blue Diamond Growers
9.8. Ripple Foods 
9.9. The Coca Cola Company 
LIST OF FIGURES
LIST OF TABLES
DISCLAIMER

Danone S.A.

The Hain Celestial Group

Califia Farms

Pacific Foods of Oregon

Pureharvest

Sunopta

Blue Diamond Growers

Ripple Foods 

The Coca Cola Company 

Pulmuone Foods USA Inc.

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