Plant-based Beverages Market: By Product Type (Almond Milk, Soy Milk, Coconut Milk, Rice Milk, Oat Milk, and Others), By Application (Dairy Alternatives, Sports and Energy Drinks, Infant Formula, Fortified Beverages, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Specialty Stores, and Others), and Geography

Purchase Option

$ 4400
$ 6600
$ 8900

Plant-based Beverages Market was valued at USD 18.4 billion in 2023 and is poised to grow at a significant CAGR of 9.6% over 2024-2030. The global plant-based beverages market is driven by the growing trend of veganism and increased acceptance of plant-based diets among consumers. Concerns about global warming, animal cruelty, and long-term sustainability have led to a decrease in the consumption of animal-based products. Additionally, health-conscious millennials and individuals with lactose intolerance have shifted towards vegan foods and beverages. The rising awareness about lactose malabsorption, affecting a significant portion of the global population, has further contributed to the growth of plant-based beverages. This shift in consumer preferences has created opportunities for the market to expand and cater to the growing demand for plant-based alternatives in the beverage industry.

Plant-based milk alternatives, including soy, almond, and oat milk, have gained significant popularity worldwide. Soy milk is predominantly consumed in Asian countries, while oat and almond milk are favored in American and European regions. These dairy-free options offer a range of essential vitamins and minerals that promote bone and muscle health. Additionally, they are a good source of healthy fatty acids, making them a suitable choice for individuals focused on maintaining a healthy lifestyle. The widespread adoption of this plant-based milk reflects the growing preference for nutritious and sustainable alternatives to traditional dairy products.

Plant-based Beverages Market Key Developments:
  • In June 2021, Vancouver-based dairy-alternative company, Plant Veda, introduced a new range of vegan lassi made from cashews and real fruits. The lassi is free from sugar cane and incorporates beneficial probiotics for gut health. This innovative product caters to the growing demand for plant-based alternatives and offers a flavourful and healthy option for consumers seeking dairy-free beverages.

Plant-based Beverages Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

9.6%

Largest Market

Asia Pacific

Fastest Growing Market

North America
Plant-based Beverages Market Dynamics

These consumer trends are expanding the industry's scope for plant-based beverages. Shifting inclination toward vegan and vegetarian diets, particularly among millennials, coupled with an increased number of healthier alternatives available in the market, is expected to boost product sales in the upcoming years. For instance, in January 2021 Nescafé launched a line of vegan flat white latte pods in the U.K, available in almond, oat, and coconut variations. Increasing health concerns have also compelled consumers to shift their preference to vegan foods and beverages. The vegan population is significantly increasing.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019 to 2023) and forecast (2024 to 2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Plant-based Beverages Market Segmentation

By Product Type
  • Almond Milk
  • Soy Milk
  • Coconut Milk
  • Rice Milk
  • Oat Milk
  • Others
By Application
  • Dairy Alternatives
  • Sports And Energy Drinks
  • Infant Formula
  • Fortified Beverages
  • Others
By Distribution Channel
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Online Retail
  • Specialty Stores
  • Others
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

Frequently Asked Questions

Plant-based Beverages are commonly used for their potential therapeutic benefits, including stress relief, relaxation, pain management, and promoting overall well-being. However, it's important to note that the effectiveness and specific benefits can vary for each individual.

Generally, Plant-based Beverages are considered safe when used as directed. However, it's advisable to choose reputable brands that undergo third-party testing to ensure product quality and purity. Additionally, individuals should consult with healthcare professionals, especially if they have underlying health conditions or are taking medications.

1.Executive Summary
2.Global Plant-based Beverages Market Introduction 
2.1.Global Plant-based Beverages Market  - Taxonomy
2.2.Global Plant-based Beverages Market  - Definitions
2.2.1. Product Type
2.2.2.Application
2.2.3.Distribution Channel
2.2.4.Geography
2.2.5.Region
3.Global Plant-based Beverages Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Plant-based Beverages Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Plant-based Beverages Market  By  Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Almond Milk
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Soy Milk
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Coconut Milk
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Rice Milk
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Oat Milk
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
5.6. Others
5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.6.3. Market Opportunity Analysis 
6.Global Plant-based Beverages Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Dairy Alternatives
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Sports And Energy Drinks
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Infant Formula
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Fortified Beverages
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Others
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
7.Global Plant-based Beverages Market  By Distribution Channel, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Supermarkets/Hypermarkets
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Convenience Stores
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Online Retail
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Specialty Stores
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Others
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8.Global Plant-based Beverages Market  By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. The Asia Pacific
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Latin America
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. MEA
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.Global Plant-based Beverages Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Plant-based Beverages Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1.  Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Almond Milk
10.1.2.Soy Milk
10.1.3.Coconut Milk
10.1.4.Rice Milk
10.1.5.Oat Milk
10.1.6.Others
10.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Dairy Alternatives
10.2.2.Sports And Energy Drinks
10.2.3.Infant Formula
10.2.4.Fortified Beverages
10.2.5.Others
10.3.  Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Supermarkets/Hypermarkets
10.3.2.Convenience Stores
10.3.3.Online Retail
10.3.4.Specialty Stores
10.3.5.Others
10.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.North America
10.4.2.Europe
10.4.3.The Asia Pacific
10.4.4.Latin America
10.4.5.MEA
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Plant-based Beverages Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1.  Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Almond Milk
11.1.2.Soy Milk
11.1.3.Coconut Milk
11.1.4.Rice Milk
11.1.5.Oat Milk
11.1.6.Others
11.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Dairy Alternatives
11.2.2.Sports And Energy Drinks
11.2.3.Infant Formula
11.2.4.Fortified Beverages
11.2.5.Others
11.3.  Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Supermarkets/Hypermarkets
11.3.2.Convenience Stores
11.3.3.Online Retail
11.3.4.Specialty Stores
11.3.5.Others
11.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.North America
11.4.2.Europe
11.4.3.The Asia Pacific
11.4.4.Latin America
11.4.5.MEA
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) Plant-based Beverages Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1.  Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Almond Milk
12.1.2.Soy Milk
12.1.3.Coconut Milk
12.1.4.Rice Milk
12.1.5.Oat Milk
12.1.6.Others
12.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Dairy Alternatives
12.2.2.Sports And Energy Drinks
12.2.3.Infant Formula
12.2.4.Fortified Beverages
12.2.5.Others
12.3.  Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Supermarkets/Hypermarkets
12.3.2.Convenience Stores
12.3.3.Online Retail
12.3.4.Specialty Stores
12.3.5.Others
12.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.North America
12.4.2.Europe
12.4.3.The Asia Pacific
12.4.4.Latin America
12.4.5.MEA
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Plant-based Beverages Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1.  Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Almond Milk
13.1.2.Soy Milk
13.1.3.Coconut Milk
13.1.4.Rice Milk
13.1.5.Oat Milk
13.1.6.Others
13.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Dairy Alternatives
13.2.2.Sports And Energy Drinks
13.2.3.Infant Formula
13.2.4.Fortified Beverages
13.2.5.Others
13.3.  Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Supermarkets/Hypermarkets
13.3.2.Convenience Stores
13.3.3.Online Retail
13.3.4.Specialty Stores
13.3.5.Others
13.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.North America
13.4.2.Europe
13.4.3.The Asia Pacific
13.4.4.Latin America
13.4.5.MEA
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Plant-based Beverages Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1.  Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Almond Milk
14.1.2.Soy Milk
14.1.3.Coconut Milk
14.1.4.Rice Milk
14.1.5.Oat Milk
14.1.6.Others
14.2.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Dairy Alternatives
14.2.2.Sports And Energy Drinks
14.2.3.Infant Formula
14.2.4.Fortified Beverages
14.2.5.Others
14.3.  Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Supermarkets/Hypermarkets
14.3.2.Convenience Stores
14.3.3.Online Retail
14.3.4.Specialty Stores
14.3.5.Others
14.4.  Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.North America
14.4.2.Europe
14.4.3.The Asia Pacific
14.4.4.Latin America
14.4.5.MEA
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Bayer AG (Germany)
15.2.2.Abbott (U.S.)
15.2.3.DSM (Netherlands)
15.2.4.DuPont. (U.S.)
15.2.5.Amway (U.S.)
15.2.6.The Nature's Bounty Co. (U.S.)
15.2.7.GlaxoSmithKline plc. (U.K.)
15.2.8.Nestlé SA (Switzerland)
15.2.9.RiceBran Technologies (U.S.)
15.2.10.Mead Johnson & Company, LLC. (U.S.)
15.2.11.Medifast, Inc. (U.S.)
16. Research Methodology 
17. Appendix and Abbreviations 
  • Bayer AG (Germany)
  • Abbott (U.S.)
  • DSM (Netherlands)
  • DuPont. (U.S.)
  • Amway (U.S.)
  • The Nature's Bounty Co. (U.S.)
  • GlaxoSmithKline plc. (U.K.)
  • Nestlé SA (Switzerland)
  • RiceBran Technologies (U.S.)
  • Mead Johnson & Company, LLC. (U.S.)
  • Medifast, Inc. (U.S.)

Adjacent Markets