Middle East & Africa Plant-Based Beverages Market Size & Outlook
- Food Beverages & Tobacco
- Consumer Food & Beverages
- Plant-based Beverages Market Outlook
- Consumer Food & Beverages
Middle East Africa Plant-Based Beverages Market, 2017-2030 (US$M)
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MEA plant-based beverages market highlights
- The MEA plant-based beverages market generated a revenue of USD 1,412.8 million in 2021.
- The market is expected to grow at a CAGR of 11.9% from 2022 to 2030.
- In terms of segment, soy was the largest revenue generating type in 2021.
- Coconut is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2022 to 2030.
MEA data book summary
| Market revenue in 2021 | USD 1,412.8 million |
| Market revenue in 2030 | USD 3,900.4 million |
| Growth rate | 11.9% (CAGR from 2021 to 2030) |
| Largest segment | Soy |
| Fastest growing segment | Coconut |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 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, MEA region accounted for 5.8% of the global plant-based beverages market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 9,151.3 million by 2030.
Plant-based beverage manufacturers are mainly focusing on those countries in the MEA region that are primarily characterized by young consumers as an increasing youth population has been turning to veganism. According Vegan Society Survey, in 2019, over 5% of the overall population in Israel was said to be vegan.
This trend has also driven the presence of vegan restaurants across the region, thereby fueling the sales and uptake of various plant-based beverages across the MEA. For instance, in 2018, the Prince of Saudi Arabia announced the opening of several vegan restaurants in the region to support the shift from a conventional diet to healthier plant-based diet, driven by the alarming rise in obesity.
Prince Khaled, a prince of the House of Saud, has been a strong promoter of the vegan lifestyle and has often expressed his disapproval when it comes to fast food restaurants. Similarly, Africa is known for being another traditional market supporting a plant-based diet.
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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 |
Middle East & Africa 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 37.59% in 2021.
Horizon Databook has segmented the Middle East & Africa plant-based beverages market based on soy, coconut, almond, oats covering the revenue growth of each sub-segment from 2017 to 2030.
Plant-based beverage manufacturers are mainly focusing on those countries in the MEA region that are primarily characterized by young consumers as an increasing youth population has been turning to veganism. According Vegan Society Survey, in 2019, over 5% of the overall population in Israel was said to be vegan.
This trend has also driven the presence of vegan restaurants across the region, thereby fueling the sales and uptake of various plant-based beverages across the MEA. For instance, in 2018, the Prince of Saudi Arabia announced the opening of several vegan restaurants in the region to support the shift from a conventional diet to healthier plant-based diet, driven by the alarming rise in obesity.
Prince Khaled, a prince of the House of Saud, has been a strong promoter of the vegan lifestyle and has often expressed his disapproval when it comes to fast food restaurants. Similarly, Africa is known for being another traditional market supporting a plant-based diet.
- Middle East & Africa Plant-Based Beverages Market Type Outlook (Revenue, USD Million , 2017-2030)
- Soy
- Coconut
- Almond
- Oats
- Others
- Middle East & Africa Plant-Based Beverages Market Product Outlook (Revenue, USD Million , 2017-2030)
- Plain
- Flavored
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa Plant-based Beverages Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa Plant-based Beverages Market Outlook from 2017 to 2030, including revenue numbers, major trends, and company profiles.
Middle East Africa Plant-Based Beverages Market, 2017-2030 (US$M)
MEA plant-based beverages market statistics, by type, 2017-2030 (US$M)
