Canada Plant-Based Beverages Market Size & Outlook
- Food Beverages & Tobacco
- Consumer Food & Beverages
- Plant-based Beverages Market Outlook
- Consumer Food & Beverages
Canada Plant-Based Beverages Market, 2017-2030 (US$M)
Global Market
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Canada plant-based beverages market highlights
- The Canada plant-based beverages market generated a revenue of USD 455.3 million in 2021 and is expected to reach USD 1,426.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 13.5% from 2022 to 2030.
- In terms of segment, soy was the largest revenue generating type in 2021.
- Almond is the most lucrative type segment registering the fastest growth during the forecast period.
Plant-based beverages market data book summary
| Market revenue in 2021 | USD 455.3 million |
| Market revenue in 2030 | USD 1,426.0 million |
| Growth rate | 13.5% (CAGR from 2021 to 2030) |
| Largest segment | Soy |
| Fastest growing segment | Almond |
| Historical data | 2017 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Soy, Coconut, Almond, Oats |
| Key market players worldwide | Danone SA, SunOpta Inc, The Hain Celestial Group Inc, Vitasoy International Holdings Ltd, Noumi, Pacific Foods of Oregon, Blue Diamond Growers, Harmless Harvest |
Other key industry trends
- In terms of revenue, Canada accounted for 1.9% of the global plant-based beverages market in 2021.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. plant-based beverages market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 704.4 million by 2030.
The rising health consciousness, supportive government initiatives, and the introduction of various vegan products in the country are anticipated to drive the market for plant-based beverages. The funding will be used to install new equipment that will help companies present in the Alberta Province develop new plant-based food & beverage products.
In addition to this, the rising prevalence of lactose intolerance in Canadians is also driving the demand for plant-based beverages. According to the Canadian Digestive Health Foundation, lactose intolerance affects more than 7 million people in Canada (as of 2020). These health issues are driving the demand for plant-based beverages in the country.
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Plant-Based Beverages Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Danone SA | View profile | 88,843 | 17, Boulevard Haussmann, Paris, France, 75009 | www.danone.com |
| SunOpta Inc | View profile | 1,174 | 7078 Shady Oak Road, Eden Prairie, MN, United States, 55344 | www.sunopta.com |
| The Hain Celestial Group Inc | View profile | 2,837 | 4600 Sleepytime Drive, Co, Boulder, DE, United States, 80301 | www.hain.com |
| Vitasoy International Holdings Ltd | View profile | 6,534 | Number 1 Kin Wong Street, Tuen Mun, New Territories, Hong Kong, Hong Kong, | www.vitasoy.com |
| Noumi | View profile | 501-1000 | Taren Point, New South Wales, Australia, Oceania | noumi.com.au/ |
| Pacific Foods of Oregon | View profile | 501-1000 | Tualatin, Oregon, United States, North America | www.pacificfoods.com |
| Blue Diamond Growers | View profile | 1001-5000 | Sacramento, California, United States, North America | bluediamondgrowers.com/ |
| Harmless Harvest | View profile | 251-500 | San Francisco, California, United States, North America | www.harmlessharvest.com |
Canada Plant-based Beverages Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Plant-based Beverages Market Outlook will help companies and investors design strategic landscapes.
Soy was the largest segment with a revenue share of 38.15% in 2021.
Horizon Databook has segmented the Canada plant-based beverages market based on soy, coconut, almond, oats covering the revenue growth of each sub-segment from 2017 to 2030.
The rising health consciousness, supportive government initiatives, and the introduction of various vegan products in the country are anticipated to drive the market for plant-based beverages. The funding will be used to install new equipment that will help companies present in the Alberta Province develop new plant-based food & beverage products.
In addition to this, the rising prevalence of lactose intolerance in Canadians is also driving the demand for plant-based beverages. According to the Canadian Digestive Health Foundation, lactose intolerance affects more than 7 million people in Canada (as of 2020). These health issues are driving the demand for plant-based beverages in the country.
- Canada Plant-Based Beverages Market Type Outlook (Revenue, USD Million , 2017-2030)
- Soy
- Coconut
- Almond
- Oats
- Others
- Canada Plant-Based Beverages Market Product Outlook (Revenue, USD Million , 2017-2030)
- Plain
- Flavored
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada Plant-based Beverages Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada Plant-based Beverages Market Outlook from 2017 to 2030, including revenue numbers, major trends, and company profiles.
Canada Plant-Based Beverages Market, 2017-2030 (US$M)
Canada plant-based beverages market statistics, by type, 2017-2030 (US$M)
