Vancouver, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) -- The Global Plant-Based Food & Beverage Alternatives Market is forecast to be worth USD 32.29 billion by 2027, according to the current analysis by Emergen Research. The growing emphasis on plant-based meat & dairy alternatives amongst the lactose intolerant population & other patients with ailments that forbid the ingestion of meat and rising concerns with weight management, higher emphasis on weight loss are some major drivers for the growth of the market.
Additionally, the expanding vegan population and the growing practice of consuming low-fat milk have been some factors propelling the demand for this market. Besides, some types of plant-based milk have been very effective in enhancing antioxidant degree, providing exceptionally low sugar & calorie content, working as an efficient source of calcium for bones & providing high bone density, digestive health & weight management.
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The global Plant-Based Food & Beverage Alternatives market is expected to remain a highly competitive and fragmented landscape, consisting of a number of both small start-ups & medium enterprises and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous growth potential for innovative players.
Further key findings from the report suggest
- In December 2019, Danone S.A. announced its active participation in a funding round for the plant-based business of Halsa Foods. Halsa Foods manufactures a variety of dairy alternatives across the United States.
- The soy sub-segment is growing with the fastest CAGR of 17.3% owing to its massive ongoing & forecast demand. The products in soy-based protein or milk serve as an excellent source of dietary protein.
- The Asia Pacific market is predicted to accelerate with the fastest growth rate during the forecast period. The growth of the vegan population, the growing preference for plant-based alternatives due to its massive health benefits in the Asia Pacific region, which are mostly dominated by the countries, namely China and India, is gaining a positive impact on the overall worldwide market growth throughout the forecast period.
- Key players in the market include 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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For the purpose of this report, Emergen Research has segmented the Global Plant-Based Food & Beverages Alternatives Market on the basis of product type, source, distribution channel, and region:
- Product Type Outlook $1
- Plant-Based Dairy
- Plant-Based Milk
- Plant-Based Cheese
- Plant-Based Creamers
- Plant-Based Butter
- Plant-Based Yogurt
- Plant-Based Meat
- Others
- Plant-Based Dairy
- Source Outlook (Revenue: USD Billion; Volume: Million MT; 2017-2027)
- Soy
- Wheat
- Almond
- Corn
- Others
- Distribution Channel Outlook (Revenue: USD Billion; Volume: Million MT; 2017-2027)
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
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- Regional Outlook (Revenue: USD Billion; Volume: Million MT; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Russia
- U.K.
- Germany
- France
- BENELUX
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Israel
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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