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Plant-based Beverage Market Segmentation By Source-Dairy Alternatives ,Almond Milk ,Soy Milk ,Coconut Milk ; Nature -Organic, Conventional
Growing consumer proclivity for health, ethics, and sustainability is inducing a massive shift toward plant-based beverages. Multifarious benefits associated with plant-based diets is encouraging consumers to resort to plant-based alternatives, including plant-based beverages. These broader factors are favorably influencing the plant-based beverages market.
Numerous statistics have favored plant-based diets and associated health benefits, including the data presented at Nutrition 2018, the inaugural flagship meeting of the America Society for Nutrition (ASN). The research study associates plant-based diets with reduced risk of diabetes, coronary heart diseases, and obesity.
This, in turn, provides enough credence to the growth of plant-based beverages market in the upcoming years.
Rapid gravitation toward vegan and flexitarian lifestyle choices is also one of the key aspects fuelling growth of plant-based beverages market. Millennials and Gen Xers, the two demographic segments targeted by retailers, are making a progressive shift to plant-based indulgence, thereby creating favorable circumstances for growth of plant-based beverages market.
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Shift to plant-based foods and beverages has become increasingly palpable, as consumers are willing to purchase plant-based products over the animal-based ones. This transition toward plant-based diet has also led to consumers seeking for plant-based protein supplements, creating sustained opportunities for the market players of plant-based beverages.
For instance, a majority of consumers opt for protein powders from plant sources, such as rice and pea, instead of purchasing the whey-based ones. The demand for plant-based protein supplements is also gaining immense traction in the sports nutrition category, with sports enthusiasts choosing plant-based proteins as a crucial part of their training sessions.
In line with this, producers of plant-based beverages are vying to diversify their product lines via addition of new varieties of plant-based supplements.
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Get a Customized VersionFood and beverage producers across the globe have been extensively focusing on various improvements in their existing as well as new products. The major objective behind various improvements in the food and beverage landscape is to well-align with the present-day dietary preference of consumers i.e. additional health benefits with no compromise in terms of taste.
One of such breakthroughs is plant-based milk, which was widely-acknowledged by a majority of health-savvy consumers across the globe. The demand for plant-based milk is growing by leaps and bounds, creating untapped potential for manufacturers in the plant-based beverages market.
In the modern era, beverages and drinks are no longer mere thirst quenchers. Instead, customers are on a constant lookout detailed functionality in the beverages they consume- a key aspect driving growth of plant-based beverages market. Moreover, rising cases of lactose intolerance are also inducing a massive shift toward plant-based milk, auguring well with the growth of plant-based beverages market.
Asia Pacific except Japan (APEJ) is likely to emerge as a profitable market for producers of plant-based beverages, driven by an incessant march toward plant-based products, including plant-based beverages. Growing demand for plant-based juices and ready-to-drink drinks is also creating prime opportunities for manufacturers to enhance their sales via the launch of new products with additional wellness.
The demand for plant-based beverages is witnessing an unprecedented leap across developed regions, such as North America and Europe, with rising prevalence of sustainable dietary considerations. With mushrooming cases of lactose intolerance and food allergies, consumers across the aforementioned regions remain diet-conscious, which is a key reason demonstrating their inclination toward plant-based products, including plant-based beverages.
Moreover, consumer proclivity for vegan and flexitarian diets, which is on a consistent rise in North America and Western Europe, is one among the key aspects boosting growth of plant-based beverages market in these regions.
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