Plant-based has become more that a buzzword now. It’s a lifestyle trend triggered by consumer preference for personal wellness and concerns pertaining to global ecosystem. Plant-sourced beverages have got staying power, as burgeoning consumer inclination for ethics, sustainability, and health, is encouraging a healthy transition toward plant-sourced beverages.
The plant-based beverages market is likely to expand at 6% CAGR of over 6% through 2028, as per the latest research study published by Persistence Market Research (PMR). The PMR study opines that consumers will continue to show significant preferences for dairy substitutes over other source types, with worldwide demand envisaged to surpass US$ 25.5 BN by 2028-end. The demand for plant-sourced beverages is highly influenced by the pervasive trend of flexitarianism and veganism, which continue to gain traction from health-savvy consumers.
Oats are poised to be the next ‘it’ ingredient in plant-sourced beverages world. Oats have already attained immense adoption as a stand-in for milk in non-dairy lattes at coffee corners, such as Starbucks in European markets and on social media. As per PMR study, diary alternatives, primarily oats milk, among others are likely to witness high indulgence, with demand fluctuating from region to region.
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Growing Demand for Plant-Sourced Protein Supplements Propelling Adoption
With consumers increasingly becoming inclined towards plant-sourced products over animal-sourced ones, adoption of plant-sourced beverages and foods has become increasingly palpable. In this plant-sourced beverages world, several consumers are opting for protein powders sourced from plants, such as pea and rice, instead of spending on whey-based variants. The uptake is further triggered by the growing demand for plant-sourced protein supplements from sports nutrition manufacturers, with athletes, and sports enthusiasts embracing plant-sourced proteins as an integral part of their training regime.
Voracious Demand for Plant-Based Milk Underpinning Gains
Manufacturers in F&B industry are vying to enhance the F&B landscape to reach at par with the present-day consumer dietary preferences. With consumers increasingly eying beverages with extra health benefits and no compromise on taste, plant-sourced milk is getting widespread prominence among health-savvy consumers worldwide. The demand for plant-sourced milk is escalating by leaps and bounds paving way for untapped potential for plant-sourced beverages’ manufacturers. Beverages and drinks are no longer mere thirst quenchers in this modern era, as customers are constantly scrutinizing functionality of the drinks they buy. Moreover the burgeoning lactose intolerance incidences are also prompting a paradigm transition toward plant-sourced milk driving adoption of plant-sourced beverages.
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Multifarious Benefits Associated with Plant-Based Diets Trigger Consumption
There are a wide range of factors favorably driving plant-based beverages market, as per PMR study. Moreover, several statistics have backed plant-sourced diets and related health benefits. At the inaugural flagship meeting of the America Society for Nutrition (ASN) at Nutrition 2018, industry experts associated plant-sourced diets with alleviated risk of obesity, diabetes, and coronary heart diseases. Rapid gravitation toward flexitarian and vegan lifestyle choices is also one of the main aspects bringing traction to plant-based beverages market.