Plant-based Beverages Market Overview:
A research team conducted extensive primary and secondary research for the Plant-based Beverages market analysis. Secondary research was conducted to supplement existing data, segment the market, calculate total market size, and forecast market size and growth rate.
Plant drinks are drinks that can be replaced by dairy products. These drinks are plant-based and are considered a very healthy alternative to dairy products. Soy milk, rice milk, oat milk, cashew milk, coconut milk, flax milk and almond milk are some of the most popular choices for plant-based beverages around the world. They are measured vigorous, due to the occurrence of several indispensable vitamins and minerals. They are also low in fat, cholesterol, and lactose-free. We have considerd segement analysis in the plant-based beverages market as by product, source and region.
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Plant-based Beverages Market Scope:
The study employs PESTLE analysis to assess the advantages and disadvantages of major market participants. The researcher carefully examines the Plant-based Beverages market’s size, share, trend, total profit, total revenue, and profit margin to forecast the market and provide investment advice. Subject-matter experts advise on market changes.
The report includes information on the major market participants, in addition to data on capacity and production, price and cost information, company profiles, product images, specifications, and contact information. This report examines the Plant-based Beverages market for trends, size, and value at the global, regional, and corporate levels. Using historical data and future projections, this study examines the global market for Plant-based Beverages.
Plant-based Beverages Market Segmentation:
Market segments by product include Plain, Flavoured, and Others. With a 59.3% market share in 2020, the Plain Product segment dominated the market for plant-based beverages. Consumer preference for highly nutritious plant-based beverages and upcoming regulatory changes intended to promote plant-based beverages are likely to drive the market during the forecast period. Increased sales of plant-based beverages are anticipated as a result of the increased use of plain plant-based milk in a variety of beverages. Leading companies provide a variety of beverages made with almonds, soy, coconut, oats, and rice, which is why this sector is driving the market’s expansion.
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Plant-based Beverages Market Key players:
- Pacific Foods of Oregon, LLC (Canada)
- LBlue Diamond Growers, Inc. (U.S)
- SunOpta (Canada)
- The Hain Celestial Group, Inc (New York)
- Freedom Foods Group Ltd. (Australia)
- Califia Farms (U.S)
- Harmless Harvest (California)
- Koia (U.S)
COVID-19 Impact on Plant-based Beverages market:
The COVID-19 outbreak has had a significant impact on the Plant-based Beverages market. Due to the global economic downturn and a labour shortage, the development of Plant-based Beverages production facilities has been halted. The pandemic of COVID-19 has resulted in a significant and long-term decrease in production utilisation. Furthermore, travel restrictions and facility closures have hampered staff visits, limiting the growth of the Plant-based Beverages market in 2020. However, given the high demand for Plant-based Beverages, the market effects of COVID-19 are expected to be transient. The industry is expected to fully recover by early 2021.
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