Plant-based Beverages Market Size Worth $22.9 Billion By 2027: Grand View Research, Inc.

Read 80 page research report with ToC on "Plant-based Beverages Market Size, Share & Trends Analysis Report By Product (Soy Base, Coconut Base, Almond Base, Rice Base, Oats Base, Hemp Base), By Flavor, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/plant-based-beverages-market Read 80 page research report with ToC on "Plant-based Beverages Market Size, Share & Trends Analysis Report By Product (Soy Base, Coconut Base, Almond Base,...

Read 80 page research report with ToC on "Plant-based Beverages Market Size, Share & Trends Analysis Report By Product (Soy Base, Coconut Base, Almond Base, Rice Base, Oats Base, Hemp Base), By Flavor, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/plant-based-beverages-market

Significant increase in the vegan population across major developed countries such as U.S., U.K., Germany, Australia, New Zealand, and Italy is one of the key factors driving the demand for plant-based beverages. According to the statistics provided by 'The Vegan Society', U.K. has the largest vegan population, which quadrupled from 2014 to 2019 whereas, the vegan population in U.S. reached 19.6 million in 2017, which was 600% more from 2014. These market trends are anticipated to boost the demand for plant-based beverages over the forecast period.

Lactose intolerance in one of the fastest growing disorders, which is anticipated to boost the scope for plant-based beverages. According to U.S. National Library of Medicine, an estimated 5% to 17% of Europe population suffers from lactose intolerance, whereas 44% of the Americans are lactose intolerant.

Asia Pacific is the largest plant-based beverage consuming region with a market share of more than 30% in 2019 owing to high concentration of buyers in countries such as China, Indonesia, Thailand, and Japan. However, North America is the fastest growing region with a CAGR of % from 2020 to 2027 owing to growing vegan population and increasing prevalence of lactose intolerance in U.S. and Canada. 

Grand View Research has segmented the global plant-based beverages market based on product, flavor, and region:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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