Acturial Data Science
Marketing & Advertising
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 market by applications
Market Segmentation
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.
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