Plant Based Protein Beverages Market Quantitative Market Analysis, Current and Future Trends 2017–2027
Plant Based Protein Beverages Market Introduction:
Protein is one of the ingredients which is responsible for increasing muscle mass and curbing appetite. Animal based protein beverages were a common source of protein but now, plant based protein beverages also act as the great source of protein for their consumers. Plant based protein beverages refer to protein enriched beverages which originate from the plant such as nondairy beverages, bagels, and others. Plant based protein beverages are gaining popularity among customers who are interested in consuming protein but via non-dairy products. Pea and brown rice based protein beverages are gaining high popularity among their consumer as compared to other plant based protein beverages. There are different flavors of these beverages available which provide a wide of products for consumers.
Plant Based Protein Beverages Market Segmentation:
The plant based protein beverages market is segmented on the basis of end use, raw material, source, product type, and distribution channel. On the basis of end use, the plant based protein beverages market is segmented into HoReCa, food and beverage industry, and household. On the basis of raw material, plant based protein beverages are segmented into seeds, legumes, nuts, beans, grains and others.
On the basis of source, plant based beverages are segmented into conventional and organic. Organic plant based protein beverages turn out to be more costly than conventional because they don’t involve usage of any type of artificial compounds in its manufacturing, therefore it serves to be pure natural products.
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On the basis of product type, plant based beverages are segmented into plant based milk, plant based butter and much more. Every product type can also be sub segmented on the basis of flavor type or some other factor, such as plant based milk can be segmented into almond milk, soy milk, rice milk, coconut milk and others.
On the basis of the distribution channel, the plant based protein beverages market is segmented into modern trade, specialty stores, convenience store, online stores and other retail stores. Easy availability of products due to these distribution channels increases the global plant based protein beverages market.
Plant Based Protein Beverages Market Regional Outlook:
The regional segment for the market of plant based milk market is divided into seven different regions: Western Europe, North America, Eastern Europe, Latin America, APEJ, Middle East & Africa and Japan. North America, Western Europe are the leading regions in global plant based protein beverages market owing to consumers are getting highly aware with respect to their health. APAC is anticipated to boost its plant based protein beverage market during the forecast period.
Plant Based Protein Beverages Market Drivers and Trends:
In order to gain control over the market, animal based protein based beverage manufacturing firms are coming up with the manufacturing of plant based protein beverages. Consumers have accepted that plant based protein beverages tends to provide the same benefits as provided by animal based, with respect to building muscle mass, energy, and strength. Consumers are moving up for plant based protein beverages as these beverages avoid cholesterol, saturated fat and allergic reactions from dairy based products. Animal welfare also serves as an effective reason due to which consumers choose plant base protein beverages as an alternative to animal based products. Increase in lactose intolerance and cautiousness regarding hormones present in animal based beverages also drives plant based protein beverage market at global level. Plant based protein beverage sources have a higher growth rate than animal based. Manufacturers are arising with new and innovative plant based protein beverages to provide a great variety of products to their consumers.
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Plant Based Protein Beverages Market Key Players:
Few of the key players of plant based protein beverages market are Ripple Foods, Malk Organic, Dr. McDougall’s Right Foods, Califia farms, The New Barn, Pacific Foods, and Beyond Meat.