U.S. Plant-Based Beverages Market Size & Outlook, 2021-2030
- Food Beverages & Tobacco
- Consumer Food & Beverages
- Plant-based Beverages Market Outlook
- Consumer Food & Beverages
U.S. Plant-Based Beverages Market, 2017-2030 (US$M)
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U.S. plant-based beverages market highlights
- The U.S. plant-based beverages market generated a revenue of USD 2,622.5 million in 2021 and is expected to reach USD 7,947.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 13.1% 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 2,622.5 million |
| Market revenue in 2030 | USD 7,947.6 million |
| Growth rate | 13.1% (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, U.S. accounted for 10.7% 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.
According to the Vegan Society, in 2010, over 20% of the U.S. consumers adopted plant-based beverages, which increased to over 35% in 2016. Similarly, in 2019, plant-based beverages accounted for further 12% growth over the 2018.
National Institute of Health (NIH) stated that in 2019, over 25% of the U.S. consumers were lactose intolerant. Growing health awareness among U.S. consumers is leading to less sugar and fat intake, along with high protein consumption and overall nutritional balance.
Furthermore, the increasing purchasing power of consumers, coupled with the rising adoption of the vegan diet, has been driving the plant-based beverages market over the years. Greater focus on fitness among millennials and the younger population is another trend fueling market growth in the U.S.
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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 |
U.S. 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 38.39% in 2021.
Horizon Databook has segmented the U.S. plant-based beverages market based on soy, coconut, almond, oats covering the revenue growth of each sub-segment from 2017 to 2030.
According to the Vegan Society, in 2010, over 20% of the U.S. consumers adopted plant-based beverages, which increased to over 35% in 2016. Similarly, in 2019, plant-based beverages accounted for further 12% growth over the 2018.
National Institute of Health (NIH) stated that in 2019, over 25% of the U.S. consumers were lactose intolerant. Growing health awareness among U.S. consumers is leading to less sugar and fat intake, along with high protein consumption and overall nutritional balance.
Furthermore, the increasing purchasing power of consumers, coupled with the rising adoption of the vegan diet, has been driving the plant-based beverages market over the years. Greater focus on fitness among millennials and the younger population is another trend fueling market growth in the U.S.
- U.S. Plant-Based Beverages Market Type Outlook (Revenue, USD Million , 2017-2030)
- Soy
- Coconut
- Almond
- Oats
- Others
- U.S. Plant-Based Beverages Market Product Outlook (Revenue, USD Million , 2017-2030)
- Plain
- Flavored
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U.S. Plant-Based Beverages Market, 2017-2030 (US$M)
U.S. plant-based beverages market statistics, by type, 2017-2030 (US$M)
