Global Plant Based Food & Beverages Market Analysis, 2021 research report depicts a deep dive market analysis of statistics of Global Plant Based Food & Beverages market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Russia|
|Asia-Pacific: China, India, Japan, South Korea, Australia and Others|
|South America: Brazil, and Argentina|
|Middle East & Africa: Saudi Arabia, UAE, South Africa, Turkey, Israel|
|Key Companies Profiled||The Whitewave Foods Company, Blue Diamond Growers, Pacific Foods Oregon, Hain Celestial, Califa Farms, Want Want China Holdings Limited, Sunopta, Kikkoman, The Coca Cola Company, Ripple Foods, Pureharvest, Wildwood Organic, etc|
|Unit Denominations||USD Million/Billion|
According to MarkNtel Advisors’ research report “Global Plant Based Food & Beverages Market Analysis, 2021”, the Global Plant Based Food & Beverages market is anticipated to grow at a CAGR of around 11% during 2021-26F. The growth of the market is attributed to rising lactose intolerance populace worldwide, increasing millennial inclination for vegan food along with the adoption of low-calorie food options among people due to hectic lifestyle. Moreover, the mounting launch of various plant-based beverages along with rapid urbanization and escalating health concern propelling the demand for animal-based diets are the factors fueling the demand for plant-based food and beverages in the forthcoming years.
Lactose Intolerance Acquired the Majority Market Share
Based on Functionality, Lactose Intolerance acquired the majority market share in the Global Plant Based Food & Beverages market in 2020. This is due to a significant rise in lactose intolerance population especially among Asian, South American, and African persons. However, Lactose tolerance is also widespread in Northern European countries such as Sweden and Finland, with tolerance levels of 74% and 82%. Hence, this is projected to augment the demand for Plant Based Food & Beverages globally in the near future as revealed by the MarkNtel Advisors’ research report “Global Plant Based Food & Beverages Market Analysis, 2021”.