Ottawa, Feb. 15, 2023 (GLOBE NEWSWIRE) — According to Precedence Research, the plant-based beverages market size was worth USD 27.90 billion in 2022. Plant-based beverages are healthy beverages that are processed and manufactured from seeds, grains, and other plant materials. Some of the plant-based beverages available in the market are coffee, tea, soy milk, and rice milk. All these products are low in terms of calories, and they provide necessary calcium and protein. These alternatives are gaining popularity across the globe as this is a healthy option for dairy products. The consumption of these plant-based beverages will play an instrumental role in reducing the cases of strokes, diabetes, and heart diseases.
- Asia Pacific region has captured revenue share of 66.8% in 2022.
- Europe is growing at the fastest CAGR from 2023 to 2032.
- By source, the soy beverage segment has held revenue share of over 38.6% in 2022.
- The coconut beverages source segment is poised to grow at a fastest CAGR from 2023 to 2032.
- By product, the plain beverages segment has held revenue share of over 70.4% in 2022.
- However, the flavored beverages segment is growing at the fastest CAGR from 2023 to 2032.
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The growing popularity of plant-based beverages in nations such as Australia, Japan, China, Vietnam, and Thailand has played a significant role in the growth of the market in recent times. Consumers in the Asia Pacific region can spend a good amount of money on these alternatives. The consumption of these products has grown significantly due to the protein content of these plant-based beverages. Clean labels for plant-based beverages will increase sales to a great extent. Growing awareness about nutrition and health is expected to play a significant role in the growth of the market during the forecast period.
In the Asia Pacific region, soy is a source of plant-based food that is used…