Plant-Based Food and Beverages Market Growth, Forecast with Regional Portfolio, Key Driven
Market Highlights The global plant-based food and beverages market is projected to be valued at USD 40,697.2 million by 2028, recording CAGR of 10.92% during the forecast period. The growth of the market is anticipated to be driven by several factors during the forecast period from 2021 to 2028. The growing lactose intolerance among the global population is resulting in an increased demand for non-dairy products like plant-based milk and derivatives. Also, growing consumer preference for a vegan and vegetarian diet is driving the growth of the global plant-based food and beverages market growth. Moreover, the growth of the organized retail sector in the developing economies is contributing to market growth, making the products easily available to consumers. However, poor olfactory properties along with allergic reactions associated with certain plant protein sources hamper the market growth. The COVID-19 pandemic has fundamentally changed the consumer tre...