LONDON--(BUSINESS WIRE)--The global plant-based beverages market is expected to post a CAGR of more than 11% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global plant-based beverages market size is the health benefits associated with plant-based beverages. Plant-based protein in plant-based beverages offers a plethora of health benefits that include weight loss, strengthens the immune system, and reduces the risk of cancer and cardiovascular diseases. Moreover, the awareness about the health benefits of plant-based beverages, such as soy milk, almond milk, pea-based beverages, rice milk, coconut-based beverages, and oat milk, is increasing significantly. Thus, the increasing awareness about the health benefits of plant-based beverages is expected to fuel the growth of the market during the forecast period.
As per Technavio, the growing popularity of organic plant-based beverages will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global plant-based beverages market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Plant-Based Beverages Market: Growing Popularity of Organic Plant-Based Beverages
The popularity of organic food and beverages including plant-based beverages is rising globally. The preference for organic plant-based beverages among consumers is increasing because these products are healthier in nature and are sourced from better quality natural ingredients. Thus, the majority of vendors in the market are incorporating USDA-certified organic and non-GMO ingredients in their plant-based beverages. Hence, the growing popularity of organic plant-based beverages is expected to fuel the growth of the market during the forecast period.
“Apart from the growing popularity of organic plant-based beverages, other factors such as increasing investments and acquisitions, and innovations in products and packaging will have a significant impact on the growth of the plant-based beverages market value during the forecast period,” says a senior analyst at Technavio.
Global Plant-based beverages Market: Segmentation Analysis
This market research report segments the global plant-based beverages market worth by source (almond, soy, coconut, and others) and geographic regions (Europe, North America, APAC, South America, and MEA).
The APAC region led the plant-based beverages market in 2018, followed by North America, Europe, MEA, and South America respectively. The plant-based beverages market analysis report identifies factors such as the incorporation of innovative manufacturing processes, and the emergence of new startups and companies to account for the market dominance of APAC during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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