The plant-based beverages market size was valued at USD 11.16 billion in 2018 and is projected to reach USD 19.67 billion by 2023, growing at a CAGR of 12.0% during the forecast period. The plant-based beverages market is driven by factors such as the increased demand for vegan food options, amidst the growing health concerns about the consumption of animal-based diets. Apart from this, consumers in emerging countries are adopting hectic lifestyles, which urge them to look out for low-calorie food options with high nutritional value. This has boosted the sale of plant-based beverage products.

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The years considered for the study are as follows:

• Base year: 2017
• Estimated year: 2018
• Projected year: 2023
• Forecast period: 2018-2023

Objectives of the study are as follows:

• To define, segment, and measure the plant-based beverages market concerning its source, type, function (qualitative), and region
• To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze the opportunities in the market for the stakeholders and provide details of the competitive landscape for market leaders
• To profile the key players and comprehensively analyze their core competencies
• To analyze the competitive developments—new product developments, mergers & acquisitions, expansions, joint ventures, and partnerships—in the plant-based beverages market
• To profile the key plant-based beverage companies, based on business overview, recent financials, segmental revenue mix, geographic presence, and information about the products & services
• The market has been covered by mapping plant-based beverage products only. Yogurt has been excluded from the plant-based beverages market scope, as it falls under the food category.

Research Methodology:

The research methodology used to estimate and forecast the plant-based beverages market begins with the capturing of data on the key players and their revenues through secondary sources such as the Plant Based Foods Association (PBFA), Food and Drug Administration (FDA), US Department of Agriculture (USDA), and European Food Safety Authority (EFSA). The overall market size was arrived after validating with primary interviews; and secondary research, which includes publications and statistics. Both the “top-down” and “bottom-up” approaches were used to estimate and validate the total size of the market. These approaches were also used extensively to estimate the market size of various dependent submarkets in the overall plant-based beverages market. These submarkets were verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments.

The key players in the market include The WhiteWave Foods Company (US), Blue Diamond Growers (US), Pacific Foods (US), Hain Celestial (US), SunOpta (Canada), Want Want China Holdings Limited (China), Kikkoman (Japan), Califia Farms (US), The Coca-Cola Company (US), Ripple Foods (US), WildWood Organic (US), and Pureharvest (Australia).

Target Audience:

The report is targeted toward the existing players in the industry, which include:

• Manufacturers/suppliers
• Beverage manufacturers & processors
• Traders & retailers
• Regulatory bodies and associations, which include the following:
  • Good Food Institute - Accelerate alternative protein innovation
  • The Plant Based Foods Association (PBFA)
  • The Food and Drug Administration (FDA)
  • The United States Department of Agriculture (USDA)
  • The European Food Safety Authority (EFSA)
  • The Soyfoods Association of North America (SANA)
  • The Specialty Food Association (SFA)
  • The British Dietetic Association (BDA)
  • The National Recreation and Park Association (NRPA)
  • Dietitians of Canada (DC)
  • National Milk Producers Federation (NMPF)
  • Dietitians Association of Australia (DAA)

“The study answers several questions for the stakeholders; primarily, which market segments to focus on in the next 2 to 5 years for prioritizing efforts and investments.”

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Scope of the Plant-based Beverages Market Report:

On the basis of source, the market has been segmented into:

• Almond
• Soy
• Coconut
• Rice
• Others (cashew, oats, pea, and hemp)

On the basis of mode of type, the market has been segmented into:

• Milk
• Other drinks (smoothies, shakes, and nogs)

On the basis of function, the market has been segmented into:

• Cardiovascular health
• Cancer prevention
• Bone health
• Lactose-free alternative
• Qualitative segment

On the basis of region, the market has been segmented into:

• North America
• Europe
• Asia Pacific
• South America
• Rest of the World (RoW)

Available Customization

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

The following customization options are available for the report:

Product Analysis

• Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

• Further breakdown of the Rest of the European market into Belgium, The Netherlands, Sweden, and Portugal.
• Further breakdown of the Rest of Asia Pacific market for plant-based beverages into South Korea, Taiwan, and the Philippines.
• Further breakdown of the RoW plant-based beverages market into the Middle East and Africa.

Company Information

• Detailed analysis and profiling of additional market players (up to 5)

Frequently Asked Questions (FAQ):

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