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Global Plant-based Beverages Market by Type (Soy-based, Oats-based), by Product (Flavored, Plain) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: CG-72455
  • Author: Up Market Research
  • Rating: 4.9
  • Total Reviews: 54
  • No. Of Pages: 241
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  • Pub. Date: 2021-10-21
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Summary of the Report

Global plant-based beverages market was valued at USD 22,859.4 millions in 2020. It is projected to grow at a compound annual rate (CAGR of 14.3%) between 2021 and 2028. Consumers are shifting to vegan food and beverages due to increasing health concerns. Due to increasing prevalence of lactose intolerance, and other food allergies, the vegan population is on the rise. Soymilk has many similar benefits to dairy-based milk. Many applications for soy milk include bakeries and confectioneries. Soy milk is rich in protein, vitamin A and vitamin B-12, as well as potassium. Soy milk is also a good alternative for those who are lactose intolerant.

Hemp-based drinks have also been gaining popularity due to their pain relief and health benefits. Many governments around the world are also removing CBD from illegal drugs and promoting Hemp-based drinks. These policies support beverage producers to introduce new products on the market.

Additionally, organic agro products are increasingly in demand due to their lack of harmful chemicals. This is driving manufacturers to use plant-based materials in their beverages. Fairtrade Sourcing and Halal Certification are just a few of the options that can be used to reach large numbers of customers around the world.

It is well-known that the dairy industry has an adverse effect on the environment. This is driving more people to switch to nondairy options. The World Wildlife Fund estimates that approximately 270 million milk cows are managed by farmers around the world. Greenhouse Gas (GHG), which are greenhouse gas emissions from dairy cows and their manure, contribute to climate change. Manure and fertilizer handling can cause water depletion and can also lead to unsustainable dairy farming. This can result in the loss of important ecological areas such as forests, prairies, wetlands and wetlands.

Type Insights

The U.S. market was dominated by the almond-based segment with more than half of the volume. Market growth for plant-based beverages is expected to be driven by rising health consciousness, supportive government initiatives and the introduction of vegan products.

Cafes, restaurants, cafes, hotels, and eateries are now offering plant-based milk. This includes oats and almondmilk. They do this to serve a wide range of vegan and lactose-intolerant customers. With the growing demand for plant-based milk, key players are creating new products to meet this market demand. Plant-based beverage producers have also seen opportunities due to the pandemic. Consumers are becoming more aware of their health.

Consumers are looking to improve their immunity and maintain their overall health by eating simple, nutritious and healthy plant-based foods. Both from developing and developed countries, consumers are willing to pay more for drinks that have better nutritional or medicinal benefits. Soy-based beverages will see steady growth due to growing consumer demand for healthy and allergen-free beverages.

Product Insights

With a market share of more than 59%, the plain product segment dominated the global market in 2020. This segment is expected to grow due to increased consumption of plant-based beverages that are highly nutritious. The oat-based segment, on the other hand is expected to experience the fastest CAGR between 2021 and 2028. Due to rising customer demand, some coffee chains have begun offering plant-based versions of their beverages. Starbucks Canada launched oat-based beverages in July 2020 as its latest non-dairy offering.

Over the forecast period, plant-based beverages will see a rise in sales due to the increasing use of plain plant milk in many drinks. While the major companies offer a variety of almond-, soy, coconut-, coconut- and oats-based beverages, many small and medium-sized businesses are attempting to capture niche product segments such as hemp, hazelnut, and flax-based beverages. For instance, Living Harvest Foods (a Tempt brand), Manitoba Harvest Hemp Foods (a Hemp Yeah! In the hemp-based milk market, Milkadamia and Living Harvest Foods (a Tempt brand) are very popular. Manufacturers are also combining different flavors to encourage the consumption of beverages in various applications such as smoothies, protein shakes, yogurt drink, and other. The segment is expected to grow due to a growing number of new product launches in attractive flavors.

Regional Insights

Asia Pacific was responsible for 66% of the total revenue in 2020. Asia Pacific's growing vegan population, particularly millennials, will likely fuel demand for plant-based beverages. Many countries, including Thailand, India, China and China, are adopting healthy lifestyles by choosing healthy food options.

Americans are becoming more aware of their health and consuming less sugar and fat. They also consume high amounts of protein and have a better nutritional balance. The region's plant-based beverage market has seen a rise in demand due to the growing purchasing power and rising acceptance of veganism. Another trend driving market growth in America is the increased focus on fitness by millennials and younger people.

Market Share Insights & Key Companies

There are many small and large players in the industry. Due to their large customer base, market players are often in fierce competition. These companies have strong brand recognition and extensive distribution networks, which intensifies the level of competition among them. To stay on top of the game and establish a strong position in the market, key companies have implemented various expansion strategies such as partnerships and product launches. These are some of the top players in the global market for plant-based beverages:

  • Danone S.A

  • Pacific Foods of Oregon, LLC

  • LBlue Diamond Growers, Inc.

  • SunOpta

  • The Hain Celestial Group, Inc.

  • Freedom Foods Group Ltd.

  • Califia Farms

  • Harmless Harvest

  • Koia

  • Vitasoy International Holdings Ltd.

Up Market Research published a new report titled “Plant-based Beverages Market research report which is segmented by Type (Soy-based, Oats-based), by Product (Flavored, Plain), By Players/Companies Califia Farms, Blue Diamond Growers, Danone SA, Vitasoy International Holdings Limited”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitlePlant-based Beverages Market Research Report
By TypeSoy-based, Oats-based
By ProductFlavored, Plain
By CompaniesCalifia Farms, Blue Diamond Growers, Danone SA, Vitasoy International Holdings Limited
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages241
Number of Tables & Figures169
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Plant-based Beverages Industry Outlook

Global Plant-based Beverages Market Report Segments:

The market is segmented by Type (Soy-based, Oats-based), by Product (Flavored, Plain).

Plant-based Beverages Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Plant-based Beverages Market

Overview of the regional outlook of the Plant-based Beverages Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Plant-based Beverages Market Overview

Highlights of The Plant-based Beverages Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Plant-based Beverages Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Type:

                1. Soy-based

                2. Oats-based

        7. By Product:

                1. Flavored

                2. Plain

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Plant-based Beverages Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Plant-based Beverages Market Trends

Reasons to Purchase the Plant-based Beverages Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Plant-based Beverages Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Plant-based Beverages Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Plant-based Beverages Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Plant-based Beverages Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Plant-based Beverages Market Size & Forecast, 2018-2028 
      4.5.1 Plant-based Beverages Market Size and Y-o-Y Growth 
      4.5.2 Plant-based Beverages Market Absolute $ Opportunity 


Chapter 5 Global Plant-based Beverages Market Analysis and Forecast by Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Type
      5.1.2 Basis Point Share (BPS) Analysis by Type
      5.1.3 Absolute $ Opportunity Assessment by Type
   5.2 Plant-based Beverages Market Size Forecast by Type
      5.2.1 Soy-based
      5.2.2 Oats-based
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global Plant-based Beverages Market Analysis and Forecast by Product
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Product
      6.1.2 Basis Point Share (BPS) Analysis by Product
      6.1.3 Absolute $ Opportunity Assessment by Product
   6.2 Plant-based Beverages Market Size Forecast by Product
      6.2.1 Flavored
      6.2.2 Plain
   6.3 Market Attractiveness Analysis by Product

Chapter 7 Global Plant-based Beverages Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Plant-based Beverages Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Plant-based Beverages Analysis and Forecast
   9.1 Introduction
   9.2 North America Plant-based Beverages Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Plant-based Beverages Market Size Forecast by Type
      9.6.1 Soy-based
      9.6.2 Oats-based
   9.7 Basis Point Share (BPS) Analysis by Type 
   9.8 Absolute $ Opportunity Assessment by Type 
   9.9 Market Attractiveness Analysis by Type
   9.10 North America Plant-based Beverages Market Size Forecast by Product
      9.10.1 Flavored
      9.10.2 Plain
   9.11 Basis Point Share (BPS) Analysis by Product 
   9.12 Absolute $ Opportunity Assessment by Product 
   9.13 Market Attractiveness Analysis by Product

Chapter 10 Europe Plant-based Beverages Analysis and Forecast
   10.1 Introduction
   10.2 Europe Plant-based Beverages Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Plant-based Beverages Market Size Forecast by Type
      10.6.1 Soy-based
      10.6.2 Oats-based
   10.7 Basis Point Share (BPS) Analysis by Type 
   10.8 Absolute $ Opportunity Assessment by Type 
   10.9 Market Attractiveness Analysis by Type
   10.10 Europe Plant-based Beverages Market Size Forecast by Product
      10.10.1 Flavored
      10.10.2 Plain
   10.11 Basis Point Share (BPS) Analysis by Product 
   10.12 Absolute $ Opportunity Assessment by Product 
   10.13 Market Attractiveness Analysis by Product

Chapter 11 Asia Pacific Plant-based Beverages Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Plant-based Beverages Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Plant-based Beverages Market Size Forecast by Type
      11.6.1 Soy-based
      11.6.2 Oats-based
   11.7 Basis Point Share (BPS) Analysis by Type 
   11.8 Absolute $ Opportunity Assessment by Type 
   11.9 Market Attractiveness Analysis by Type
   11.10 Asia Pacific Plant-based Beverages Market Size Forecast by Product
      11.10.1 Flavored
      11.10.2 Plain
   11.11 Basis Point Share (BPS) Analysis by Product 
   11.12 Absolute $ Opportunity Assessment by Product 
   11.13 Market Attractiveness Analysis by Product

Chapter 12 Latin America Plant-based Beverages Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Plant-based Beverages Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Plant-based Beverages Market Size Forecast by Type
      12.6.1 Soy-based
      12.6.2 Oats-based
   12.7 Basis Point Share (BPS) Analysis by Type 
   12.8 Absolute $ Opportunity Assessment by Type 
   12.9 Market Attractiveness Analysis by Type
   12.10 Latin America Plant-based Beverages Market Size Forecast by Product
      12.10.1 Flavored
      12.10.2 Plain
   12.11 Basis Point Share (BPS) Analysis by Product 
   12.12 Absolute $ Opportunity Assessment by Product 
   12.13 Market Attractiveness Analysis by Product

Chapter 13 Middle East & Africa (MEA) Plant-based Beverages Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Plant-based Beverages Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Plant-based Beverages Market Size Forecast by Type
      13.6.1 Soy-based
      13.6.2 Oats-based
   13.7 Basis Point Share (BPS) Analysis by Type 
   13.8 Absolute $ Opportunity Assessment by Type 
   13.9 Market Attractiveness Analysis by Type
   13.10 Middle East & Africa (MEA) Plant-based Beverages Market Size Forecast by Product
      13.10.1 Flavored
      13.10.2 Plain
   13.11 Basis Point Share (BPS) Analysis by Product 
   13.12 Absolute $ Opportunity Assessment by Product 
   13.13 Market Attractiveness Analysis by Product

Chapter 14 Competition Landscape 
   14.1 Plant-based Beverages Market: Competitive Dashboard
   14.2 Global Plant-based Beverages Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Califia Farms
      14.3.2 Blue Diamond Growers
      14.3.3 Danone SA
      14.3.4 Vitasoy International Holdings Limited
Segments Covered in the Report
The global Plant-based Beverages market has been segmented based on

By Type
  • Soy-based
  • Oats-based
By Product
  • Flavored
  • Plain
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Califia Farms
  • Blue Diamond Growers
  • Danone SA
  • Vitasoy International Holdings Limited

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