North America Plant-Based Beverages Market, By Source (Almond, Soy, Coconut, Rice and Others), Function (Cardiovascular Health, Cancer Prevention, Bone Health, Lactose Free Alternative and Others), Country (U.S., Canada, Mexico) – Industry Trends and Forecast to 2028.
Market Analysis and Insights: North America Plant-Based Beverages Market
The plant-based beverages market is expected to witness market growth at a rate of 8.65% in the forecast period of 2021 to 2028. Data Bridge Market Research report on plant-based beverages market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The expansion of food and beverage sector is escalating the growth of plant-based beverages market.
Plant-based beverage is referred as the type of drinks that is highly utilized as a substitute for dairy products. These beverages are widely derived from plants and are known to be healthy alternative to dairy. Some of the most popular choice for plant-based beverages such as almond milk, rice milk, and soymilk. These beverages are considered healthy, due to high presence of several essential vitamins and minerals. They have low cholesterol, fats, and has zero concentration of lactose.
The surge in the health consciousness across the region acts as one of the major factors driving the growth of plant-based beverages market. The rise in consumer replacing dairy milk with plant-based beverages and high adoption of the products owning to the nutritional benefits offered by plant-based dairy alternative beverages accelerate the market growth. The high number of product launches and investments by manufacturers and increase in the number of cases of lactose intolerance and milk allergies among population further influence the market. Additionally, increase in food and beverage spending, consumer inclination toward veganism, change in lifestyle and rapid urbanization positively affect the plant-based beverages market. Furthermore, integration of value-added ingredients and flavor in dairy alternative beverages and rise in demand for plant-based milk products for coffee and tea extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, higher cost of plant-based beverages compared to dairy milk is expected to obstruct the market growth. Lack of awareness among consumers is projected to challenge the plant-based beverages market in the forecast period of 2021 to 2028.
This plant-based beverages market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on plant-based beverages market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Plant-Based Beverages Market Scope and Market Size
The plant-based beverages market is segmented on the basis of type, source and function. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the plant-based beverages market is segmented into milk and others
- On the basis of source, the plant-based beverages market is segmented into almond, soy, coconut, rice and others. Others segment is further segmented into cashew, oats, pea, hemp and hazelnut.
- On the basis of function, the plant-based beverages market is segmented into cardiovascular health, cancer prevention, bone health, lactose free alternative and others.
North America Plant-Based Beverages Market Country Level Analysis
The plant-based beverages market is analyzed and market size insights and trends are provided by country, type, source and function as referenced above.
The countries covered in the North America plant-based beverages market report are U.S., Canada and Mexico in North America.
U.S. dominates the North America plant-based beverages market due to the growth in awareness within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Plant-Based Beverages Market Share Analysis
The plant-based beverages market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to plant-based beverages market.
The major players covered in the plant-based beverages market report are Hain Celestial, Pureharvest, SunOpta, Want China Holdings Limited, Kikkoman Corporation, Ripple Foods, Califia Farms, THE COCA COLA COMPANY, Pulmuone Foods USA, Inc., Troll Bridge Creek, Pepsi Co., CSC BRANDS, L.P., BORGES INTERNATIONAL GROUP, S.L., Blue Diamond Growers, and DANONE SA, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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