Worldwide Demand for Plant-Based Beverages is Anticipated to Reach US$ 34.8 Billion by 2026

1. Worldwide Demand for Plant-Based Beverages is Anticipated to Reach US$ 34.8 Billion by 2026 Global Plant-Based Beverages Market Set to Reach a Valuation of US$34.8 Billion by 2026, Reports Confirm The global plant-based beverages market is experiencing rapid growth, with a projected valuation of US$34.8 billion by the end of 2026, according to recent reports. The market, valued at US$15.3 billion in 2019, is anticipated to register a remarkable compound annual growth rate (CAGR) of 12.9% during the forecast period from 2021 to 2026. The surge in demand for healthier drink options is identified as a key driver propelling the growth of the plant-based beverages market. Consumers worldwide are increasingly seeking low-calorie and nutritious alternatives in their food and beverage choices, leading manufacturers across various sectors to utilize plant-based beverages in the development of such products. The trend towards health-conscious foods and beverages, particularly in North America, Asia Pacific, and Europe, is expected to further fuel the expansion of the plant-based beverages market. Access full report: https://www.fairfieldmarketresearch.com/report/plant-based-beverages- market A significant factor contributing to the market's growth is the growing preference for non-dairy products. Protein-rich plant-based beverages have gained traction among consumers who follow a plant-based or meat-free lifestyle. With the emergence of alternative sources of high-quality protein, consumers are reassured that non-dairy options can be as healthy and nutritious as animal protein sources. Notably, over 45% of US consumers opt for non-dairy milk due to its nutritional benefits, while more than 35% consider it a good protein source. This creates a considerable opportunity for manufacturers to introduce new products with added protein in the ready-to-drink plant-based beverages category. However, despite the promising growth prospects, the plant-based beverages market faces certain challenges. High manufacturing costs and the need for extensive research and development (R&D) pose limitations, particularly for mid-sized companies. The development of plant-based beverages necessitates substantial investments in R&D activities, laboratories, research equipment, and skilled professionals. Such initial investments can make it difficult for manufacturers to achieve adequate returns, given the competitive landscape and the market's demand for health benefits associated with plant-based beverages. In terms of regional markets, North America is poised to lead the global plant-based beverages market, driven by continuous product launches and increasing demand for healthy drinks. Rapidly changing lifestyles and the prevalence of unhealthy habits have raised health concerns among consumers, resulting in a shift towards healthier food options. Meanwhile, the Asia Pacific region is anticipated to be the fastest-growing market, exhibiting a high CAGR. Factors such as a growing population, rising disposable incomes, and increased spending capacity on staple food and fast food contribute to the region's potential for future growth. The global plant-based beverages market showcases a highly competitive landscape, featuring a diverse range of local and international manufacturers. Key market players identified in the industry include Califia Farms LP, Good Karma Foods, Inc., Danone SA, Ripple Foods, PBC, Koia, Harmless

2. Harvest Inc, Pureharvest, and Blue Diamond Growers. The market has witnessed intense competition, prompting numerous mergers and acquisitions as companies strive to secure their positions in the plant-based beverages market. About Fairfield Market Research: Fairfield Market Research is a leading market research and consulting firm. We provide unmatched quality of syndicated and customized market research reports, business intelligence solutions, and consulting services. Our team of experienced analysts and industry experts conducts extensive research to provide accurate insights and forecasts, enabling businesses to make informed decisions. We assist our clients in strategic planning, competitive landscape analysis, and identifying opportunities for growth. With a strong commitment to delivering high-quality research reports, we help our clients stay ahead of the curve in a rapidly evolving business environment.