Global Plant-Based Food & Beverages Alternative Market 2020 Future Scenario and Major Growth 2021
The Global Plant-Based Food & Beverages Alternatives Market is forecasted to be worth USD 32.29 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market include growing demands for a plant-based meat & dairy alternatives amongst the lactose intolerants & other patients associated with ailments that forbid the ingestion of meat.
The Plant-Based Food & Beverages Alternatives market is further segmented in terms of applications, end-user, end-use, geographic presence, by-products as well as services. In addition, the subject matter experts evaluating the industry provide an all-inclusive category-specific industry outlook. A comprehensive collection of data on major companies occupying a strong foothold in the industry adds immense value to the overall research. The assessment of the wining strategies followed by these companies can help business owners not only strategize but also execute business operations by referring the statistics about competitor analysis. Careful assessment of the industry analysis across different regions along with vital information on the market size, share and growth rate makes this report a wonderful resource for business evangelists.
The market is further segmented into product types offered in the market and their application spectrum along with key geographical regions where the market has established substantial footing and comprehensive competitive analysis.
Key findings from the report suggest
In October 2019, Blue Diamond Growers Inc., a US-based co-operative announced the launch of a new beverage portfolio comprising the Almond extract and named it Almond Breeze Almond milk in the Mexican Hot Chocolate flavor.
Plant-Based Dairy, being the most used plant-based alternatives and having a large number of uses cases in food & beverages, take up the is expected to lead in the forthcoming years. The Plant-Based Dairy sub-segment in Product Type segment had 65.7% market share in the year 2019. Different studies suggest that many of the plant-based milks are capable of providing non-GMO and a glutton-free diets with additional vitamin source to help create a higher rate of fat-soluble antioxidant and also works fine for the vegan diet lifestyles.
North America owing to growing penetration for its non-dairy based or cereal products, especially in the U.S. and Canada, along with a higher thrust on the alternative products of meats, is expected to fuel regional market growth substantially.
Key players in the market Blue Diamond Growers Inc., Before the Butcher LLC, Califia Farms LP, Daiya Foods Inc., Field Roast Grain Meat Co. Inc., Impossible Foods Inc., Amy’s Kitchen, Boca Foods Co., ConAgra Brands Inc., and Danone S.A., among others.
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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