Plant-based and Organic Beverage Market Analysis: Overview
A significant movement toward plant-based beverages is being brought on by growing consumer propensity for sustainability, ethics, and health. Numerous advantages of plant-based diets are enticing people to switch to plant-based substitutes, which includes plant-based beverages. The market for plant-based beverages is being positively impacted by these more general factors. Numerous statistics, such as those presented at Nutrition 2018, the first flagship meeting of the America Society for Nutrition, support plant-based diets and the health benefits that go along with them. The study links plant-based diets to a lower risk of obesity, diabetes, and coronary heart disease.
The market potential for beverages made from plants is growing as a result of these consumer changes. Sales of products are anticipated to expand in the near future as a result of changing dietary preferences, particularly among millennials, toward vegan and vegetarian diets and an increase in the availability of healthier substitutes. For instance, Nescafé introduced a line of vegan flat white latte pods in the U.K. in January 2021. These pods come in almond, oat, and coconut flavors. Customers have also been compelled to switch to favouring vegan foods and beverages due to rising health concerns. The number of vegans is steadily rising.
Consumer food preferences have altered recently as a result of the high frequency of lactose intolerance and other food-related allergies among both children and adults. The National Institute of Diabetes and Digestive and Kidney Diseases predicted that 65% of the world’s population was lactose intolerant in 2020, on average. Important players are introducing new items to broaden client penetration internationally. For instance, in the spring of 2021, Vita Coco, a well-known New York-based manufacturer of coconut water, introduced a new line of functional coconut water with MCT.
This in turn gives the industry for plant-based beverages adequate support to grow in the next years. One of the major factors boosting the market for plant-based beverages is the quickening trend toward vegan and flexitarian lifestyle choices. The market for plant-based beverages is expected to grow as Millennials and Gen Xers, the two demographic groups targeted by retailers, gradually switch to indulge in plant-based foods.
Consumer preference for plant-based goods over animal-based goods has resulted in an apparent shift toward plant-based foods and beverages. Consumer demand for plant-based protein supplements has increased as a result of the shift toward a plant-based diet, providing ongoing potential for manufacturers of plant-based beverages. For instance, most customers choose to buy plant-based protein powders like rice and pea rather than whey-based ones. The market for plant-based protein supplements is also rapidly expanding in the field of sports nutrition, as athletes increasingly incorporate plant-based proteins into their workout routines.
Global Plant-based and Organic Beverage Market: Major Players
Earth’s Own Food Company
Dream Plant Based
Vitasoy International Holdings Ltd.
Blue Diamond Growers
Califia Farms LP
The Coca-Cola Co.
Global Plant-based and Organic Beverage Market: By Types
Global Plant-based and Organic Beverage Market: By Applications
Independent Small Groceries
Global food and beverage manufacturers have been putting a lot of effort into making a variety of enhancements to both their current and future goods. The main goal of numerous advancements in the food and beverage industry is to better meet consumers’ modern dietary preferences, which include added health advantages without sacrificing flavour. One of these innovations is plant-based milk, which is now widely accepted by most health-conscious consumers worldwide. The market for plant-based beverages has untapped potential due to the explosive growth of the demand for plant-based milk.