Study: Plant-based beverages market to experience rapid growth
The dairy alternatives market is growing at the highest CAGR, making it the most attractive category for plant-based beverage manufacturers.
The global plant-based beverages market is estimated to reach $474,666.1 million by 2028, with a CAGR of 6.7% during 2018-2028, revised from the previous CAGR of 5.2%, according to research released by Future Market Insights, Valley Cottage, N.Y.
The study, “Plant-based Beverages Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028,” reveals the market for plant-based beverages is anticipated to increase over the forecast year, owing to the increasing health and wellness consciousness among the population, the growing vegan/vegetarian/flexitarian trend and the rise in dietary restrictions, such as lactose intolerance and food-related allergies.