What is Plant-Based Beverages Market?
Because of evolving eating habits and increased consumer awareness of health and wellness, the demand for plant-based beverages is projected to expand in the future. Aside from that, consumers in developing countries are leading busier lives, necessitating the quest for low-calorie foods with high nutritional value, which has boosted the selling of plant-based beverage products.
The market study is being classified by Type (Organic Plant-Based Beverages and Conventional Plant-Based Beverages), by Application (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores and Online Retails) and major geographies with country level break-up.
The WhiteWave Foods Company (United States), Blue Diamond Growers (United States), Pacific Foods (United States), Hain Celestial (United States), SunOpta (Canada), Want Want China Holdings Limited (China), Kikkoman (Japan), Califia Farms (United States), The Coca-Cola Company (United States) and Ripple Foods (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are WildWood Organic (United States) and Pureharvest (Australia).
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on the production technologies, efficiency enhancement, and product life. There is a various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Plant-Based Beverages market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Plant-Based Beverages market by Type, Application and Region.
On the basis of geography, the market of Plant-Based Beverages has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Nutritional Benefits Offered By Plant-Based Dairy Alternative Beverages
- Rising focus on health and wellness among consumers
- Rapidly Growing Beverage Industry
Market Trend
- Increasing Number of Product Launches
Restraints
- High Prices of Plant-Based Beverages
Opportunities
- Integration of Value-Added Ingredients and Flavor Innovations in Beverages
- The Inclination of Consumer towards Vegetarian Diets
Challenges
- Lack of Awareness Among Consumers
Market Leaders and some development strategies
In Jan 2020, Nestlé today announced a collaboration with Burcon and Merit, two key players in the development and production of high-quality plant proteins. This partnership will enable Nestlé to further accelerate the development of nutritious and great-tasting plant-based meat and dairy alternatives with a favorable environmental footprint.
In Sept 2020, Nestlé is expanding its range of dairy alternatives with the launch of a plant-based Nesquik drink in Europe. The new ready-to-drink beverage will be launched first in Spain, Portugal and Hungary and then in other European countries. It combines the goodness of oats and peas with sustainably sourced cocoa and is lower in sugar than regular milk-based Nesquik.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Plant-Based Beverages Manufacturers/suppliers, Beverage manufacturers & processors, Traders & retailers, Raw Material Suppliers, Regulatory Bodies and Associations and Potential Investors