Plant-based Beverages Market to Hit $71.83 Billion by 2030: Grand View Research, Inc.
Read 100-page market research report, "Plant-based Beverages Market Size, Share & Trends Analysis Report By Type (Coconut, Soy, Almond), By Product (Plain, Flavored), By Region (APAC, North America, EU, MEA), And Segment Forecasts, 2022 - 2030", published by Grand View Research.
For instance, in April 2021, Nestlé announced the launch of a plant-based, ready-to-drink (RTD) version of its Milo cocoa beverage in Asia, along with two plant-based coffee RTDs. The new plant-based version of Milo will replace the dairy milk with almond and soy and the other two core ingredients-malt and cocoa-remain the same. The demand for organically processed beverages is significant in the European and North American regions. The rising demand has compelled beverage companies to reformulate products to meet organic standards over the years. Increasing government support for organic agriculture and the rising popularity of organic food & beverages among consumers have driven the demand for organically processed plant-based beverages.
Coconut-based beverages are anticipated to register the fastest CAGR during the forecast period. New product launches in this segment are likely to be among the key drivers supporting the market growth. For instance, in April 2020, Harmless Harvest added three new flavored coconut water drinks to their classic organic coconut water line. The flavored plant-based beverages segment is expected to register a significant CAGR over the forecast period. Consumers are willing to experiment with flavors, such as mango, pulp, and cocoa. Therefore, new flavor launches in the existing product portfolio along with partnerships, collaborations, and marketing campaigns are some of the strategies that brands and companies opt for to gain a competitive edge in the industry.
Grand View Research has segmented the plant-based beverages market based on type, product, and region
Plant-based Beverages Market - Type Outlook (Revenue, USD Million, 2017 - 2030)
Plant-based Beverages Market - Product Outlook (Revenue, USD Million, 2017 - 2030)
Plant-based Beverages Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- China
- India
- Japan
- Australia
- Thailand
- Brazil
- UAE
List of Key Players of the Plant-based Beverages Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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