Plant Based Beverage Market to Record Stellar CAGR During 2018 - 2028
Verfasser: yogesh on Thursday, 4 April 2019Worldwide demand for plant-based beverages is estimated to grow by leaps and bounds, on account of consumers’ holistic approach to health and wellness. The demand for plant-based beverages is likely to expand at a CAGR of over 6% through 2028, as per the latest research study published by Persistence Market Research (PMR). The growth of plant-based beverages continues to be influenced by the pervasive trend of veganism and flexitarianism, which have become increasingly popular among health-savvy consumers.
Rapid gravitation toward plant-based diets is creating favorable grounds for growth of plant-based beverages, finds the PMR analysis. Increasing cases of food allergies and lactose intolerance is inducing a notable reluctance toward animal-based products, assisting the growth of plant-based beverages market.
According to the PMR research study, consumers will continue to show marked preferences for dairy alternatives over any other source type, with global demand estimated to surpass US$ 25.5 Bn by the end of 2028. Diary alternatives, such as soy milk, almond milk, rice milk, oats milk, coconut milk, cashew milk, and seed milk, are expected to witness high indulgence, with demand varying from region to region. In line with the aforementioned, market players are vying to offer dairy alternatives in enticing flavors to meet the insatiable consumer demand for ‘Taste and Wellness’.