Plant-based Beverages Market

The plant-based beverages market is expected to register a compound annual growth of 14.3% from 2021-2028. The increasing agitation towards health has compelled individuals to shift towards vegan food and beverages, which has raised the growth of plant-based beverages market.

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Plant-based Beverages Market Dynamics

Plant-based beverages refer to the drinks that can be used in place of dairy. These beverages are acquired from plants and re regarded as a very healthy substitute to dairy. The presence of essential vitamins and minerals make them a health choice. Thus, plant-based beverage has gained immense prominence in the developed and under-developed nations. In addition to it, as per the plant-based beverages market forecast, the surging demand for nutritious food and expansion in the beverage sector are some of the major drivers contributing to the market growth. The increasing health awareness among individuals with the rowing cases of obesity, diabetes, and cardiovascular diseases will drive the global plant-based beverages market growth.

Rapidly accelerating urban population and the rising expendable income of middle-class population has proliferated the plant-based beverages market size. Besides this, the increasing inclination towards vegan diet and the augmenting demand for non-dairy milk are projected to offer various growth prospects to the market. The consumers have switched towards the plant-based drinks guided by the rising awareness about their health benefits and a surge in lactose-intolerant individuals. However, the plant-based beverages market research asserts that the huge cos of plant-based drinks over other dairy items may restrain the plant-based beverages market growth.

Regional Drivers

Based on the regional analysis, the Asia-Pacific region is projected to lead the overall market over the coming years. The rising adoption of vegan-diets and drinks because of the increasing health concern and the adoption of plant-based beverages will bolster the market growth. The leading producers are providing several vegan beverages in Asian countries such as India, China, and Japan, which will elevate the plant-based beverages market share.

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