Plant-based beverages are derived from all types of plant sources like seeds, grains, and nuts. Due to their high nutrition content, plant-based beverages are considered a suitable alternative to cow’s milk. Plant-based beverages are increasing in demand, due to its health benefits and are expected to arrive in every grocery stores worldwide in the near future. People are willing to try out plant-based beverages but they have to be easily available and affordable in price and have to taste good. The report on global plant-based beverages market sheds more light on the benefits of organic and vegetarian food consumption.
The report also aims to enlighten on the rapid growth and prospects of the market in detail. The study also focuses on competitive dynamics in the market by factoring in weaknesses and strengths of prominent participants, their degree of competition, and key products. This report also features unique and salient factors that may make a huge impact on the development of the global plant-based beverages market during the aforementioned forecast period.
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Global Plant-Based Beverages Market: Drivers & Restraints
The global plant-based beverages market is experiencing the rise in the number of companies penetrating this nascent market by adding all sort of plant-based beverage products. The growth of this market depends upon the consumer, as they play a crucial part by building more sustainable food system by consuming more plants and less meat. Thus, the decision that they have to make is whether they want to go vegan or try out a plant-based diet. In addition, the usage of antibiotics has boosted the consumption of plant-based beverages across the globe.
However, high price is one of the major challenges that manufacturers in the plant-based beverages market face. Nonetheless, these beverages provide phytonutrients and antioxidants, which help in building strong immunity, lessen inflammation, and help to cure skin radiance. These aspects are mainly focused on the rising demand for plant-based beverages across the globe.
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Global Plant-Based Beverages Market: Geographical Outlook
Consumers in developed countries can easily purchase plant-based beverages; but in the developing countries, this remains a challenge. The major growth in the trend of vegan diets, especially in the North America. This region is leading in the global plant-based beverages market by accounting for highest revenue shares. The global plant-based beverages market is expected shift towards natural and healthy food options to cope with their hectic lifestyles. These regions are likely to exhibit high demand for global plant-based beverages market due to rapid growth occurring in the food and beverages sector too.
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Global Plant-Based Beverages Market: Competitive Landscape
Companies such as The Coca-Cola Company, The Hain Celestial Group, Inc., SunOpta Inc., PepsiCo, Inc., and Dr Pepper Snapple Group, Inc., enjoy a stronghold in the global plant-based beverages market. The market is currently witnessing fierce competition among several leading players. Manufacturers of plant-based beverages are giving emphasis on strengthening their network. They are also expected to positively influence the global plant-based beverages market in the near future.