- In December 2022, Danone introduced its innovative Dairy & Plants Blend infant formula, addressing the increasing demand from parents seeking vegetarian, flexitarian, and plant-based feeding solutions. This product is designed to meet the unique nutritional needs of infants while adhering to various dietary preferences. By launching this formula, Danone positions itself as a leader in providing diverse options for health-conscious parents who prioritize plant-based nutrition for their children
- In September 2022, Vita Coco, a well-known coconut water brand based in New York, expanded its product line by introducing One Ready-To-Drink (RTD) juice. This new offering reflects a growing trend toward convenient, health-focused beverages. By providing a ready-to-drink option, Vita Coco caters to busy consumers looking for nutritious and refreshing drinks on the go, further solidifying its position in the health beverage market
- In June 2021, Plant Veda, a Vancouver-based company specializing in dairy alternatives, launched a new line of vegan lassi, an Indian yogurt drink made from cashews and real fruits. This innovative product is free of cane sugar and enriched with gut-friendly probiotics, targeting health-conscious consumers seeking flavorful and nutritious dairy alternatives. Plant Veda aims to capture a segment of the growing market for plant-based beverages, appealing to diverse dietary preferences
- In February 2021, Heartbest Foods, a Mexican food tech company, launched its plant-based milk nationwide, available in both plain and quinoa flavors, with a sugar-free option. This introduction caters to the increasing consumer demand for healthier, plant-based alternatives. By offering unique flavors and options, Heartbest Foods addresses the needs of health-conscious individuals seeking nutritious beverages, contributing to the growing trend toward plant-based diets in the market
- In July 2020, Starbucks Canada expanded its non-dairy offerings by introducing oat beverages, marking a significant step in its commitment to plant-based options. This launch responds to the increasing consumer demand for alternative milk in various drinks. The growing adoption of plain plant-based milk is expected to drive sales of plant-based beverages, aligning with the broader trend of consumers seeking healthier, sustainable choices in their beverage selections
Frequently Asked Questions
The market is segmented based on Global Plant-Based Beverages Market Segmentation, By Type (Soy, Coconut, Almond, Oat, and Others), Function (Cardiovascular Health, Cancer Prevention, Bone Health, Lactose Free Alternative and Others), Product (Plain and Flavored), Packaging (Glass Bottles, Plastic Bottles and Pouches, Carton, and Cans), Sales Channel (Hypermarkets/Supermarkets, Convenience Stores, Independent Small Groceries, Specialty Stores, and Online Retailers) – Industry Trends and Forecast to 2031
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The Global Plant Based Beverages Market size was valued at USD 20.41 USD Billion in 2023.
The Global Plant Based Beverages Market is projected to grow at a CAGR of 9.57% during the forecast period of 2024 to 2031.
The major players operating in the market include Glanbia plc, Now Health Group , Nutiva , The Simply Good Food Co, Iovate Health Sciences International , MusclePharm Corporation, Kerry Group Plc, CytoSport , The Nature's Bounty Co, Reliance Vitamin Company , Herbalife Nutrition , Danone SA, General Nutrition Centers Holdings , Orgain , True Nutrition.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
