Plant-Based Beverages Market Report 2026

The plant-based beverages market size has grown rapidly in recent years. It will grow from $29.88 billion in 2025 to $33.37 billion in 2026 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to rising lactose intolerance awareness, increasing vegan and flexitarian adoption, expansion of packaged beverage consumption, growth of health-focused retail channels, availability of diverse plant raw materials.

The plant-based beverages market size is expected to see rapid growth in the next few years. It will grow to $53.59 billion in 2030 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to increasing demand for functional and fortified beverages, rising focus on sustainable beverage production, expansion of personalized nutrition drinks, growing investments in plant-based beverage innovation, increasing penetration of online grocery channels. Major trends in the forecast period include increasing demand for dairy-free milk alternatives, rising popularity of functional plant-based drinks, growing innovation in flavor and texture enhancement, expansion of organic and clean-label beverages, enhanced focus on nutritional fortification.

The rising trend of veganism is expected to drive growth in the plant-based beverages market. Veganism involves avoiding all products derived partially or fully from animals and promotes plant-based drinks that can support heart health and protect against cancer and other diseases. For example, in January 2023, Food Manufacture, a UK-based online publisher focused on the food and drink processing industry, reported that the number of vegans in the UK increased by 1.1 million between 2023 and 2024. Therefore, the growing adoption of veganism is boosting the plant-based beverages market.

Major companies operating in the plant-based beverage market are increasingly focusing on introducing innovative products, such as protein-based beverages, to gain a competitive edge. Protein-based beverages are drinks enriched with protein, typically used to support muscle recovery, enhance nutrition, or serve as meal replacements. These beverages often contain ingredients like whey, casein, soy, or various plant-based proteins.For instance, in October 2024, a US-based plant beverage company launched a line of plant-based beverages. Whole Moon's offerings combine whole-roasted almonds, oats, pistachios, and soybeans, providing a rich, nutty flavor along with complete protein that includes all nine essential amino acids. The beverages are available in Almond, Oat, and Pistachio flavors and are characterized by being low in sugar, dairy-free, gluten-free, vegan, and non-GMO Project Verified. This focus on protein-enriched plant-based drinks reflects a growing trend toward health-conscious consumer choices in the beverage industry.

In July 2024, Refresco Group BV, a Netherlands-based beverage solutions provider, acquired Frías Nutrición from Alantra Private Equity for an undisclosed amount. This acquisition enhances Refresco's production capabilities in Spain, enabling the company to innovate and diversify its product offerings while meeting the growing consumer demand for sustainable beverage options. Frías Nutrición is a Spain-based manufacturer specializing in plant-based beverages, which aligns with the increasing trend towards healthier and more environmentally friendly drink options. This strategic move reflects Refresco's commitment to expanding its portfolio in the plant-based beverage sector.

Major companies operating in the plant-based beverages market are SunOpta Inc, Hain Celestial Group, Inc, Pacific Foods of Oregon, Inc, Nestlé S.A, Vitasoy International Holdings Ltd, Harmless Harvest LLC, Califia Farms, LLC, Freedom Foods Group Limited, PepsiCo, Inc, Danone S.A, Blue Diamond Growers, Amy's Kitchen, Inc, Conagra Brands, Inc, Daiya Foods Inc, General Mills, Inc, Bolthouse Farms, Inc, Eden Foods, Inc, Elmhurst 1925, Inc, Forager Project, Inc, Good Karma Foods, Inc.

Asia-Pacific was the largest region in the plant-based beverages market in 2025. Europe is expected to be the fastest-growing region in the global plant-based beverages market during the forecast period. The regions covered in the plant-based beverages market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the plant-based beverages market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The plant-based beverages market consists of sales of macadamia drinks, quinoa drinks, pea beverages, and others. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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