The Global Vegan Drinks Market was worth USD 20 billion in 2021 billion and is poised to amplify at a CAGR of 14% over 2022-2030, thereby amassing USD 75 billion by end of the assessment timeline.
Vegan drinks– Overview
The vegan market consists of the sale of vegan consumables and associated services. Products that are made without using any animal-based source or by-products are referred to as vegan products. Fruits and vegetables, legumes like peas and beans, tofu made from plant protein, and meat made from plant protein are all examples of vegan dietary products.
Benefits of vegan drinks are:
1) Vegan drinks can prime to a lower BMI
2) Vegan drinks are virtuous for the heart
3) Going for vegan drink means serving animals
4) Vegan drinks are more readily available than vegan
Key market trends- Growth determinants and restraints
The Global vegan drinks Market is developing at a quicker pace with significant development rates throughout the most recent couple of years and is assessed that the market will fill essentially in the gauge period for example 2022 to 2030.
In the years to come, it is also projected that growing health consciousness among the populace as a result of busy and sedentary lifestyles will improve the business environment for the plant-based beverage industry. A paradigm shift away from calorie-dense carbonated beverages and toward nutritious plant-based beverages would also support market expansion.
Additionally, growing demand for plant protein supplements from the sports and nutrition sector is probably going to increase the demand for the product in different economies. However, it is anticipated that until 2030, the market for plant-based drinks would develop more slowly due to fluctuating raw material prices and rising product costs.
Customers have been forced to change their preferences for vegan goods and beverages due to rising health concerns. Due to the rising prevalence of lactose intolerance and numerous food allergies, the vegan community is significantly growing.
Because soy milk has several advantages similar to those of milk derived from dairy sources, it is widely consumed worldwide. In many different applications, including bakeries and confectioneries, soy milk is frequently used. Soy milk also has a lot of protein, potassium, isoflavones, vitamin A, and vitamin B-12. It is also regarded as the finest substitute for people who cannot tolerate lactose.
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Segmentation Analysis of Global vegan drinks market
Based on type
- Vegan hot drinks
- Vegan cold drinks
- Vegan juices
- Others
Based on source
- Soy based
- Coconut based
- Rice based
- Almond based
- Oats based
- Fruits based
- Hazelnut based
- Cashew based
- Flax based
- Others
Based on packaging
- Cans
- Bottles
- Pouches
- Others
Based on sales channel
- B2B
- B2C
Based on flavour
- Plain
- Flavoured
Based on distribution channel
- Hypermarkets and supermarkets
- Convenience stores
- Speciality stores
- Online
- Others
North America is expected to hold the largest market share
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global vegan drinks market. North America dominates the market with the largest market share among others.
Competitive Landscape
The Key players in the Global vegan drinks market are Danone SA (Sofina), Coca-Cola Company, PepsiCo Inc. (Ramon Laguarta), Hain Celestial Group, and SunOpta Inc.
Major development
The Global vegan drinks market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market was developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.
Major questions answered in this report
- What is the growth rate of the Global vegan drinks Market?
- What are the primary growth determinants of the Global vegan drinks market?
- Which are the major regions constituting the geographical landscape of Global vegan drinks Market?
- Which are the prominent companies operating in Global vegan drinks Market?
Key takeaways from the report-
- The Global vegan drinks market register a growing CAGR of over 14% from 2022 to 2030.
- North America to lead the market with the highest market share.
- In the years to come, it is also projected that growing health consciousness among the populace as a result of busy and sedentary lifestyles will improve the business environment for the plant-based beverage industry.
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