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Plant-based Beverages Market by Source (Almond, Soy, Coconut, and Rice), Type (Milk and Other Drinks), Function (Cardiovascular health, Cancer prevention, Lactose intolerance, and Bone health) and Region - Global Forecast to 2023

Plant-based Beverages Market by Source (Almond, Soy, Coconut, and Rice), Type (Milk and Other Drinks), Function (Cardiovascular health, Cancer prevention, Lactose intolerance, and Bone health) and Region - Global Forecast to 2023

“The plant-based beverages market is projected to grow at a CAGR of 12.0%, in terms of value, during the forecast period.”
The global plant-based beverages market is estimated to be valued at USD 11.16 billion in 2018 and is projected to reach USD 19.67 billion by 2023, at a CAGR of 12.0% during the forecast period. The growth of the plant-based beverages market is attributed to the growing popularity of vegan diets, especially among millennials; r and the increasing demand for low-calorie options, amidst adaption of hectic lifestyles in developing countries. Additionally, companies are showing interest in the niche plant-based beverage segments by acquiring local players or investing in innovative products to tap consumer interests, which has also propelled the growth of this market. However, due to premium pricing of plant-based products in several countries, the cost of these products remains higher than dairy products. Therefore, Manufacturers are working on bringing down the prices of these products remains a challenge for the manufacturers in this market. Apart from this, in many emerging countries, there is a lack of awareness among consumers about the benefits of plant-based beverages over dairy beverages, owing to lack of proper promotional strategies. As a result, high reliance on dairy milk products is still prevalent in these regions.

“Almond milk: The largest segment in the plant-based beverages market, by source.”
The almond milk segment is estimated to be the largest market for plant-based beverages, by source. Almond milk has been gaining popularity across several coffee shops in the US. California, US, is the hub for almond production. Blue Diamond Growers (US) is a leading almond processing company, which offers almond-based products under its brand “Almond Breeze”. The brand represents almond milk made from California almonds.
“The milk segment, by type, is projected to be the larger segment of the plant-based beverages market by 2023”
The milk segment is estimated to be the larger segment in the plant-based beverages market in 2018. The demand for plant-based milk is higher compared to other drinks, as product offerings for plant-based milk are much higher compared to other drinks such as shakes, smoothies, and nogs. Companies are offering a wide variety of plant-based milk made from almond, soy, coconut, and rice. Apart from this, other milk sources such as cashew, oats, pea, and hemp are also gaining popularity in the market. Thus, with extensive range of plant-based milk options available in the market, the demand for plant -based beverages is expected to increase in coming years.

“Asia Pacific is projected to be the fastest-growing market for plant-based beverages during the forecast period.”
Asia Pacific is expected to be the fastest-growing regional market for plant-based beverages. The revenue from plant-based beverages is increasing in the Asia Pacific region, due to consumers seeking low- calorie options. The region is home to key revenue generating countries such as China and Thailand. In 2018, plant-based foods were one of the key trends in Thailand. Apart from this, the major dairy companies in China have been planning to penetrate the niche plant-based beverages market. Thus, there are high growth prospects for plant-based beverage manufacturers in this region. The main target group for these products is expected to be middle/high income groups in these countries, since plant-based beverages are premium priced.

Break-up of primaries:
By Company Type: Tier 1: 45 %, Tier 2: 35%, and Tier 3: 20%
By Designation: C level: 40%, D level: 20%, and Others: 40%
By Region: Asia Pacific: 30%, South America: 15%, North America: 25%, Europe: 15%, and RoW: 15%

The plant-based beverages market is dominated by key players such as The WhiteWave Foods Company (US), Blue Diamond Growers (US), Pacific Foods (US), Hain Celestial (US), and SunOpta (Canada). Other players include 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).

Research Coverage:
The report analyzes the plant-based beverages market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as source, type, function, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall plant-based beverages market and submarkets. This report will help the stakeholders to understand the competitive landscape better, to gain more insights to position their businesses better, and to make suitable go-to-market strategies. The report will also help them to understand the market and will provide them with information on the key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • STUDY SCOPE
    • PERIODIZATION CONSIDERED
    • CURRENCY CONSIDERED
      • Table USD EXCHANGE RATES CONSIDERED, 2012–2017
    • UNITS CONSIDERED
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
    • LIMITATIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE PLANT-BASED BEVERAGES MARKET
    • PLANT-BASED BEVERAGES MARKET, BY REGION
    • PLANT-BASED BEVERAGES MARKET, BY TYPE
    • ASIA PACIFIC: PLANT-BASED BEVERAGES MARKET, BY SOURCE & COUNTRY
  • MARKET OVERVIEW
    • INTRODUCTION
    • REGULATORY FRAMEWORK
      • FOOD AND DRUG ADMINISTRATION (FDA)
      • FOOD AND DRUG REGULATIONS (FDR)
      • FOOD STANDARDS AUSTRALIA NEW ZEALAND (FSANZ)
      • EUROPEAN COURT OF JUSTICE
    • MARKET DYNAMICS
      • DRIVERS
        • Table LACTOSE INTOLERANCE RATE, BY ETHNICITY
        • Table PLANT-BASED MILK TYPES AND NUTRIENTS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • PLANT-BASED BEVERAGES MARKET, BY SOURCE
    • INTRODUCTION
      • Table PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION)
      • Table PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (KT)
    • ALMOND
      • CONSUMER PERCEPTION ABOUT ALMOND MILK AS A HEALTHY TO DRIVE THE DEMAND DURING THE FORECAST PERIOD
        • Table ALMOND: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table ALMOND: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (KT)
    • SOY
      • SOY SEGMENT IS PROJECTD TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
        • Table SOY: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table SOY: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (KT)
    • COCONUT
      • RISE IN THE AWARENESS ABOUT HEALTH BENEFITS OF COCONUTSBASED PRODUCTS TO DRIVE THE GROWTH DURING THE FOECAST PERIOD
        • Table COCONUT: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table COCONUT: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (KT)
    • RICE
      • IMPROVED TEXTURAL AND NUTRITIONAL PROPERTIESN OFFERED BY RICE PROJECTED TO DRIVE THE RICE MILK SEGMENT DURING THE FORECAST PERIOD
        • Table RICE: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table RICE: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (KT)
    • OTHERS
      • VARIETY OF BLENDS AND FLAVORS OF CASHEW, OAT, HEMP, AND PEA MILK PTOJRCETD TO GROW THE DEMAND
        • Table OTHERS: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table OTHERS: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (KT)
  • PLANT-BASED BEVERAGES MARKET, BY TYPE
    • INTRODUCTION
      • Table PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (KT)
    • MILK
      • MILK IS PROJECTED TO BE THE LARGEST PRODUCT TYPE SEGMENT DURING THE FORECASTE PERIOD
        • Table MILK: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table MILK: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (KT)
    • OTHER DRINKS
      • SHAKES, SMOOTHIES, AND NOGS ARE GRADUALLY GAINING POPULARITY AND ARE PROJECETD TO EXPEPRIENCE POTENTIAL OPPRTUNITIES IN DEVELOPING ECONOMIES
        • Table OTHER DRINKS: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table OTHER DRINKS: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (KT)
  • PLANT-BASED BEVERAGES MARKET, BY FUNCTION
    • INTRODUCTION
    • CARDIOVASCULAR HEALTH
    • CANCER PREVENTION
    • LACTOSE INTOLERANT
    • BONE HEALTH
  • PLANT-BASED BEVERAGES MARKET, BY REGION
    • INTRODUCTION
      • Table PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
      • Table PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2022 (KT)
    • NORTH AMERICA
      • Table NORTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY COUNTRY, 2016–2023 (KT)
      • Table NORTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (KT)
      • Table NORTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (KT)
      • US
        • Table US: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • CANADA
        • Table CANADA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • MEXICO
        • Table MEXICO: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • EUROPE
      • Table EUROPE: PLANT-BASED BEVERAGES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table EUROPE: PLANT-BASED BEVERAGES MARKET SIZE, BY COUNTRY, 2016–2023 (KT)
      • Table EUROPE: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION)
      • Table EUROPE: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (KT)
      • Table EUROPE: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table EUROPE: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (KT)
      • GERMANY
        • Table GERMANY: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • FRANCE
        • Table FRANCE: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • UK
        • Table UK: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • ITALY
        • Table ITALY: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • SPAIN
        • Table SPAIN: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • REST OF EUROPE
        • Table REST OF EUROPE: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • ASIA PACIFIC
      • Table ASIA PACIFIC: PLANT-BASED BEVERAGES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table ASIA PACIFIC: PLANT-BASED BEVERAGES MARKET SIZE, BY COUNTRY, 2016–2023 (KT)
      • Table ASIA PACIFIC: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION)
      • Table ASIA PACIFIC: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (KT)
      • Table ASIA PACIFIC: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table ASIA PACIFIC: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (KT)
      • CHINA
        • Table CHINA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • THAILAND
        • Table THAILAND: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • JAPAN
        • Table JAPAN: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • VIETNAM
        • Table VIETNAM: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • AUSTRALIA
        • Table AUSTRALIA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • REST OF ASIA PACIFIC
        • Table REST OF ASIA PACIFIC: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • SOUTH AMERICA
      • Table SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY COUNTRY, 2016–2023 (KT)
      • Table SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION)
      • Table SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (KT)
      • Table SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table SOUTH AMERICA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (KT)
      • BRAZIL
        • Table BRAZIL: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • ARGENTINA
        • Table ARGENTINA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • REST OF SOUTH AMERICA
        • Table REST OF ROW: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
    • ROW
      • Table ROW: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
      • Table ROW: PLANT-BASED BEVERAGES MARKET SIZE, BY REGION, 2016–2023 (KT)
      • Table ROW: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (USD MILLION)
      • Table ROW: PLANT-BASED BEVERAGES MARKET SIZE, BY SOURCE, 2016–2023 (KT)
      • Table ROW: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • Table ROW: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (KT)
      • MIDDLE EAST
        • Table MIDDLE EAST: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
      • AFRICA
        • Table AFRICA: PLANT-BASED BEVERAGES MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET RANKING
      • KEY MARKET STRATEGIES
    • COMPETITIVE SCENARIO
      • JOINT VENTURES& PARTNERSHIPS
        • Table JOINT VENTURES & PARTNERSHIPS, 2015-2016
      • NEW PRODUCT LAUNCHES
        • Table NEW PRODUCT LAUNCHES, 2016-2018
      • EXPANSIONS
        • Table EXPANSIONS, 2013-2018
      • ACQUISITIONS
        • Table ACQUISITIONS, 2014-2017
  • COMPANY PROFILES
    • INTRODUCTION
    • THE WHITEWAVE FOODS COMPANY
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • BLUE DIAMOND GROWERS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • PACIFIC FOODS OF OREGON
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • THE HAIN CELESTIAL GROUP
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • SUNOPTA
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • CALIFIA FARMS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
    • WANT WANT CHINA HOLDINGS LIMITED
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • MNM VIEW
    • KIKKOMAN
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • MNM VIEW
    • THE COCA COLA COMPANY
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • RIPPLE FOODS
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • WILDWOOD ORGANIC
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • PUREHARVEST
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
  • APPENDIX
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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