The market size for plant-based beverages was estimated at USD 219.80 billion in 2022. It is anticipated that the market for plant-based beverages will increase from USD 238.48 billion in 2023 to USD 389.07 billion in 2030, with a compound annual growth rate (CAGR) of 8.50% over the five-year projection period (2023–2030). The primary market drivers accelerating market expansion include rising health and awareness Plant-based beverages market trends, environmental concerns, and the emergence of veganism and vegetarianism.

Plant-based beverages market are viewed as a healthier alternative to conventional sugary drinks by consumers who are becoming more and more concerned with their overall health and wellness. Compared to their conventional counterparts, plant-based beverages frequently have fewer calories and sugar, and they frequently lack artificial additives and preservatives.

Additionally, consumers are becoming more knowledgeable about the possible health advantages of plant-based diets, such as decreased risk of diabetes, heart disease, and various types of cancer.

Recent years have seen a rise in the diversity and accessibility of plant-based beverages, making it simpler for customers to discover and try new items. This has been made possible by advances in plant-based components and processing techniques as well as rising demand for items made from plants.

Plant-based beverages are now more pleasant, nourishing, and sustainable than ever thanks to advancements in plant-based ingredients and processing techniques. For instance, new plant-based protein sources, like oat and pea proteins, are being exploited to produce high-protein plant-based beverages with a variety of health benefits.

Meanwhile, improved flavour stability and a longer shelf life for plant-based beverages are now achievable thanks to new processing technology.

Segmentation

Fruits, nuts, vegetables, soy, seeds, and leaves are included in the market segmentation for plant-based beverages depending on source. Fruits led the market in 2022 and are anticipated to increase at a quicker rate over the forecast period of 2022–2030.

RTD tea and coffee, plant-based milk, and juices are all included in the market segmentation for plant-based beverages depending on type. The segment of plant-based milk contributed the majority of the market revenue for plant-based beverages in 2022.

The market data for plant-based beverages has been divided into store-based and non-store-based segments based on the distribution channel.

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In 2022, the store-based distribution channel segment dominated the market. From 2022 to 2030, it is anticipated that the non-store-based category will increase at a faster rate.

The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. The market for plant-based beverages in North America, which is estimated to reach USD 100.66 billion in 2022, is expected to develop at a substantial CAGR over the research period. Health and wellness fads, environmental concerns, and the rise of veganism and vegetarianism are driving demand for plant-based beverages in North America. The industry is expanding as a result of the acceptance of plant-based milk substitutes such soy and almond milk. Several significant producers of plant-based beverages, including Silk, So Delicious, and Califia Farms, are situated in the area. The largest market contributor is the United States.

Key Companies in the Plant-Based Beverages market includes

Coca-Cola Company

PepsiCo Inc.

Hain Celestial Group

Danone SA

Fresh Del Monte Produce Inc.

Campbell Soup Company.

Califia Strategies

Koia Keurig Dr Pepper Inc.

SunOpta Inc.

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