The Asia Pacific Plant-based Beverages Market would witness market growth of 11.3% CAGR during the forecast period (2022-2028).
Plant-based or non-dairy milk alternatives are the fastest-growing segment of functional and specialty beverage product development. Currently, lactose intolerance, cow milk allergy, calorie concerns, and the incidence of hypercholesterolemia have led consumers to favor vegan diets over cow milk alternatives. Plant-based milk replacements are a growing trend that can serve as a cost-effective substitute in developing nations with low per capita income and in areas where the supply of cow's milk is inadequate.
Despite the fact that several varieties of new plant-based beverages are being developed as alternatives to cow's milk, many of these beverages confront technological challenges linked to processing or preservation. In contrast to bovine milk, the majority of these milk replacements lack nutritional balance; nonetheless, they contain functionally active components with health-promoting effects, which attract health-conscious customers.
Advanced and novel non-thermal processing technologies, like ultra-high-pressure homogenization, ultra-high temperature treatment, and pulsed electric field processing, are being researched in order to address issues concerning the extension of shelf life, the stability of emulsions, the nutritional completeness of the final product, and its sensory acceptability. In the future years, intensive research efforts would be necessary for the functional beverages market to develop nutritionally and palatably adequate new products.
Asia-pacific possesses a significant market for plant-based beverages. The growth of the market in the region is increasing due to the rising food trend of consumers embracing vegan diets and beverages out of health concerns. Additionally, the increased adoption of plant-based beverages, such as soy milk as well as coconut milk among the population is boosting the demand for plant-based beverages in the Asia-Pacific region. In Asian countries such as India, China, and Japan, prominent manufacturers provide an assortment of vegan beverages.
The China market dominated the Asia Pacific Plant-based Beverages Market by Country in 2021; thereby, achieving a market value of $7,750.7 Million by 2028. The Japan market is registering a CAGR of 10.7% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 12% during (2022 - 2028).
Based on Product, the market is segmented into Plain and Flavored. Based on Type, the market is segmented into Soy, Almond, Coconut, Oats and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Plant-based Beverages Market is Projected to reach USD 48.8 Billion by 2028, at a CAGR of 11.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danone S.A. (Sofina Group), Campbell Soup Company (Pacific Foods of Oregon, LLC), Blue Diamond Growers, Inc., SunOpta, Inc, The Hain Celestial Group, Inc., Califia Farms LLC, Koia, Vitasoy International Group Co., Ltd. and Noumi Limited
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