The vegan drink mixes market valued at US$ 12,145.5 million in 2022, is projected to witness significant growth with a CAGR of 6.1% during the period from 2022 to 2032. The rising adoption of vegan lifestyles, driven by health consciousness and environmental concerns, is fueling the demand for plant-based beverage options, including vegan drink mixes.
Plant-based products are both healthier and safer than animal-based products. The vegan drink mixes market is being driven by growing popularity of veganism around the world. Increased adoption of vegan drink mixes is primarily due to its growing consumer popularity, as well as the product’s versatility in various applications.
The demand for vegan drink mixes is propelled by several factors, including the increasing popularity of veganism, growing consumer awareness of health benefits associated with plant-based diets, and rising environmental concerns related to animal agriculture. Consumers are seeking convenient and nutritious alternatives to traditional dairy-based drinks, contributing to the expansion of the vegan drink mixes market globally.
Request Sample Report and Drive Impactful Decisions: https://www.futuremarketinsights.com/reports/sample/rep-gb-15719
Growing Factors:
- Rising Health Consciousness: With consumers becoming increasingly conscious of their health and well-being, the demand for vegan drink mixes is on the rise. Vegan drinks are perceived as healthier alternatives to conventional beverages due to their lower calorie and fat content, as well as their rich nutrient profile.
- Environmental Concerns: Concerns about the environmental impact of animal agriculture are driving consumers towards plant-based alternatives. Vegan drink mixes offer a sustainable beverage option that reduces the carbon footprint associated with traditional dairy products, contributing to their growing popularity.
- Product Innovation: Companies are innovating and introducing a wide range of flavors and formulations in the vegan drink mixes segment to cater to diverse consumer preferences. Product launches such as cashew lassi, oat vanilla macchiato, and coconut cocoa cappuccino are attracting consumers seeking variety and taste in their plant-based beverage options.
Another factor driving the high sales of vegan drink mixes is that more people are nowadays becoming vegan or vegetarian. It means that there is a larger market for vegan products. Another reason for growth is that more people are interested in health and wellness. They want to avoid processed foods and ingredients. They are mainly looking for ways to get more nutrients into their diet. Vegan drink mixes can be a great way to do this, as they are primarily made with whole fruits and vegetables.
“As the vegan movement continues to grow, the world can expect to see more products on the market that cater to this growing demographic. Vegan drink mixes offer a convenient way to get all of the nutrients a person needs without any animal products,” says a lead analyst at Future Market Insights.
Key Takeaways: Vegan Drink Mixes Market
- India currently holds a vegan drink mixes market share of around 4% in South Asia.
- Based on application, the sports nutrition segment is expected to generate a vegan drink mixes market share of 4% in 2022.
- In terms of type, vegan juices are projected to account for a vegan drink mixes market share of nearly 3% in 2022.
- During the forecast period, the Germany vegan drink mixes market is expected to grow at a high CAGR of 0%.
- The U.K. vegan drink mixes market is anticipated to generate a share of about 2% in the forecast period.
Contact Us Now To Discuss Your Customization Options And Unlock The Full Potential Of Market Intelligence For Your Business Success: https://www.futuremarketinsights.com/customization-available/rep-gb-15719
Competitive Landscape: Vegan Drink Mixes Market
Top 5 manufacturers of vegan drink mixes are Danone SA , Coca-Cola Company , PepsiCo Inc., Hain Celestial Group, and SunOpta Inc. Together, these companies are currently holding nearly 20% to 30% of the vegan drink mixes market share.
Companies are using vegan drink mixes in their products. The swift move to plant-based ingredients is mainly driven by high consumer demand for healthier, more sustainable options. Vegan drink mixes offer a wide variety of benefits, including lower calories and sugar content, as well as being free of dairy and gluten. With increasing research & development and technological advancements, numerous companies are finding new techniques to effectively use vegan drink mixes to their maximum potential.
Vegan drink mixes are used by companies like Danone SA as they are considered to be dairy free. The company uses these products in order to make their in-house items more accessible to vegans and those who are lactose intolerant. These products are also used by other companies in order to target the vegan market.
Key Takeaway for Investors:
- Lucrative Investment Opportunity: With a projected CAGR of 6.1% and a market valuation of USD 21,956.8 million by 2032, the vegan drink mixes market offers promising investment opportunities for investors in the B2B industry. Investing in companies involved in the production and distribution of vegan drink mixes can yield significant returns amid the growing demand for plant-based beverages.
- Market Trends: The market is witnessing trends such as increasing consumer preference for natural ingredients, innovative product launches, and partnerships between vegan drink mix producers and e-commerce platforms. Investors should closely monitor these trends to identify growth opportunities and stay competitive in the market.
- Regional Growth Potential: Regions such as the USA, India, China, and Japan are experiencing rapid growth in the vegan drink mixes market due to various factors, including changing consumer preferences, increasing vegan population, and expanding distribution channels. Investors should explore opportunities in these regions to capitalize on the growing demand for plant-based beverages.
- Competitive Landscape: The market is characterized by intense competition among key players such as Vitasoy International Holdings Ltd., Danone SA, Coca-Cola Company, PepsiCo Inc., and others. Investors should assess companies’ strategies, including product innovation, expansion, and partnerships, to identify potential investment targets and maximize returns in the vegan drink mixes market.
Get More Valuable Insights on Vegan Drink Mixes Market
Future Market Insights, in its new offering, provides an unbiased analysis of vegan drink mixes market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study provides valuable insight on the vegan drink mixes market by type (vegan hot drinks, vegan cold drinks, vegan juices), by source (soy-based, coconut based, rice-based, almond based, oats based, fruits based, hazelnut based, cashew based, flax based, others), by packaging (cans, bottles, pouches, others), by sale channel (b2b, b2c), by flavor (plain, flavored), by distribution channel (hypermarkets and supermarkets, convenience stores, specialty stores, online, others), by application (sports nutrition, functional beverages, meal replacement drinks) and region.
Gain Immediate Access to Detailed Market Insights Purchase Now: https://www.futuremarketinsights.com/checkout/15719
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
