The Global Plant-Based Food & Beverages Alternatives Market is forecasted to be worth USD 32.29 billion by 2027, according to a current analysis by Emergen Research. The report provides detailed insights into Plant-Based Food & Beverages Alternatives market revenue trends, industry trends, consumer trends, market size, market share, market revenue growth drivers, and forecast, along with ranging impact of each factor and driver. Besides, a higher growth in the vegan population, rising concerns with the weight management, higher emphasis on weight loss have been some of the additional reasons behind the colossal growth of the market. It also provides analysis of various factors expected to restrain or limit potential growth in Plant-Based Food & Beverages Alternatives market size over the forecast period, 2020–2028. The report includes profiles of major Plant-Based Food & Beverages Alternatives players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Also included are details regarding top Plant-Based Food & Beverages Alternatives market players, manufacturers, and vendors and the various strategies being deployed in the market and objectives for these strategies.
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Some of the plant-based milk have been very effective on enhancing antioxidant degree, providing exceptionally low sugar & calorie content, working as an efficient source of calcium for the bones & providing high bone density, digestive health & weight management Global Plant-Based Food & Beverages Alternatives market revenue growth is primarily driven by rising focus by major companies on product portfolio expansion, entry into new and untapped domestic and international markets, rising investments my top Plant-Based Food & Beverages Alternatives market players, manufacturers, and vendors in strategic agreements and contracts, and rapidly increasing competition in the Plant-Based Food & Beverages Alternatives market. The key factors influencing the market include growing demands for a plant-based meat & dairy alternatives amongst the lactose intolerants & other patients associated with ailments that forbid the ingestion of meat. In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Plant-Based Food & Beverages Alternatives market share contribution of these countries. In addition, Plant-Based Food & Beverages Alternatives market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
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Region wise performance of the Plant-Based Food & Beverages Alternatives industry
North America Plant-Based Food & Beverages Alternatives market revenue growth was relatively higher than that of other regional markets in 2020. North America Plant-Based Food & Beverages Alternatives market revenue is expected to continue to remain dominant over the forecast period, supported by robust presence of top market players, manufacturers, and vendors, and favorable government policies and norms in countries in the region.
Asia Pacific Plant-Based Food & Beverages Alternatives market revenue registered fastest growth rate in 2020, and this trend is expected to continue over the forecast period. Asia Pacific Plant-Based Food & Beverages Alternatives market revenue growth is driven by significant market revenue contribution from China, India, and South Korea. China is a robust hub for top Plant-Based Food & Beverages Alternatives market players, manufacturers, and vendors, as well as easy access to raw materials and workforce at more economical costs that that of other regional markets.
Europe Plant-Based Food & Beverages Alternatives market revenue is expected to continue to remain steady over the forecast period, attributed to changing trends in various market and robust focus on research and development initiatives by top market players, manufacturers, and vendors to expand global footprint and drive revenues and profits.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
In terms of Plant-Based Food & Beverages Alternatives market share and revenue contribution to the global Plant-Based Food & Beverages Alternatives market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Plant-Based Food & Beverages Alternatives market share.
The market intelligence report on the Plant-Based Food & Beverages Alternatives Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
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Further key findings from the report suggest
- In October 2019, Blue Diamond Growers Inc., a US-based co-operative announced the launch of a new beverage portfolio comprising the Almond extract and named it Almond Breeze Almond milk in the Mexican Hot Chocolate flavor.
- Plant-Based Dairy, being the most used plant-based alternatives and having a large number of uses cases in food & beverages, take up the is expected to lead in the forthcoming years. The Plant-Based Dairy sub-segment in Product Type segment had 65.7% market share in the year 2019. Different studies suggest that many of the plant-based milks are capable of providing non-GMO and a glutton-free diets with additional vitamin source to help create a higher rate of fat-soluble antioxidant and also works fine for the vegan diet lifestyles.
The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Plant-Based Food & Beverages Alternatives industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Plant-Based Food & Beverages Alternatives market across different regions?
- Who are the major driving forces expected to decide the fate of the Plant-Based Food & Beverages Alternatives industry worldwide?
- Who are the prominent market players making a mark in the Plant-Based Food & Beverages Alternatives market with their winning strategies?
- Which Plant-Based Food & Beverages Alternatives industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Plant-Based Food & Beverages Alternatives market?
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