The global plant-based beverages market will grow at a CAGR of 8.5% during the forecast period 2018 to 2023. The market for plant-based beverages is set to reach US$388.42 billion by 2023. As per market analysts, the global market is anticipated to witness growth owing to the factors such as the growing adoption of non-dairy beverages as well as the surging animal activism. However, the market will face challenges and restraints due to fluctuations in prices of raw material and the increasing demand for probiotic drinks during the forecast period 2018 to 2023
The increasing requirement for various healthy and non-dairy drinks in the market will support the growth. As per market analysts, the market based companies will face certain challenges during the forecast period 2018 to 2023. The plant-based beverages market research report provides in-depth analysis of the distribution channel, source, and type segments. The market research report presents factors such as the easy availability of substitutes that could slow down the plant-based beverages market's growth.
Plant-based beverages have seen tremendous growth, due to the need for nutritional drinks and the growing health consciousness among the expanding populace. However, the fluctuation in prices of raw materials and shifting consumer preferences would challenge the companies active in the market. Furthermore, companies using growth strategies to stay ahead in the global plant-based beverages market are expected to help the market during the forecast period 2018 to 2023. As the market report suggests that the market will register a CAGR of 8.5% and reach a US$388.42 billion by 2023, the market report highlights key areas market based companies need to focus on. The plant-based beverages market research report projects a long term growth till 2023. Based on the market’s analysis on the basis of SWOT and Porters’ Five Force Model, the market will rise during the forecast period 2018 to 2023, however the companies need to move ahead with caution. The plant-based beverages market research report highlights such key areas.
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The plant-based beverages market has been segmented into distribution channel, source, and type. Based on the segment which is distribution channel, the market is categorized on the basis of store-based and non-store based. The global market for plant-based beverages is further segmented based on source into fruits, nuts, seeds and leaves, soy, vegetables, and others. Furthermore, the market, on the basis of type is segmented into plant-based milk, RTD tea & coffee, juices, and others.
The plant-based beverages market report offers comprehensive study of the market segments including distribution channel, source, and type. The analysts have also studied the market's spread across the regional markets across many of the market’s segments at country levels. The distribution channel, source, and type segments spread across the market along with the subsegments are studied. The global market for plant-based beverages is spread across various product and service based segments. The market research report highlights these key segments and offers forecasts based on primary and secondary data. The global market research report presents key company profiles of organizations active across the market.
The increasing demand for probiotic drinks may hinder the market growth. The market research report suggests that companies in the plant-based beverages market could be supported by the increasing demand for the non-dairy beverage as well as the growing prevalence of chronic ailments during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. As per market analysts, the market is set to witness tremendous growth across distribution channel, source, and type segments. The global market’s North American region covers markets across the United States, Mexico, Canada, and others. Businesses present in the market are also profiled and their strategies have been presented in detail in the market research report
The plant-based beverages market across the European region covers Italy, France, Germany, and the United Kingdom. Furthermore, the market research report provides details about the APAC region covering markets from China, India, Australia, Japan, and others. The market is also active across several other parts of the world. The market report covers all these key regions including the Middle East, Africa, Brazil, and others active in the global market.
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