Plantastic Drinks: The Plant-Based Beverage Market Is Set to Soar Past $71.62 Billion by 2030

Plant-based beverages are on the rise and it’s “plantastic,” according to SkyQuest Technology Consulting Pvt. Ltd. In fact, the global plant-based beverage market size is expected to reach US$71.62 billion by 2030 and exhibit a compound annual growth rate (CAGR) of 12.7 percent during the forecast period (2023−2030), per Skyquest's latest research report.

The health and wellness trends, rising vegan and vegetarian population, increased awareness of lactose intolerance and dairy allergies, environmental sustainability concerns, a shift towards plant-based diets or interest in plant-based products, innovation in plant-based ingredients and flavors, expanding product offerings and availability, growing demand for non-dairy alternatives, marketing and promotion of plant-based beverages, and changing consumer preferences towards clean label and natural products are all fueling the market’s growth.

According to SkyQuest's latest global research of the plant-based beverage market, increased variety and innovation in plant-based beverage offerings, growth of ready-to-drink plant-based beverages, the rising popularity of nut and seed milk alternatives, expansion of plant-based protein drinks, the emergence of functional plant-based beverages, demand for organic and natural plant-based beverages, growth of plant-based coffee and tea alternatives, focus on sustainability and eco-friendly packaging, and expansion of plant-based beverage options in the foodservice industry are all key trends that are aiding in the market's growth.

Plantastic Drinks - Plant-Based Beverages Coffee Tea Alternatives
(Photo by: Elena Shashkina /

What Are Plant-Based Beverages? Are Retail Consumers Leading the Segment?

Plant-based beverages are beverages that are made from plants and do not include dairy products. They can be made from various plants, including oats, almonds, soy, rice, coconut, tea, coffee, etc. Plant-based beverages typically offer numerous healthy benefits, and certain plant-based beverages can be an alternative to dairy products.In terms of application, retail consumers are leading the plant-based beverage segment and are shopping for and demanding more products and innovation. In general, retail consumers are seeking convenient, healthy and sustainable alternatives to non-plant-based beverages.

Region wise, North America is dominating in this space, as it’s one of the largest growing markets with a huge consumer base. Consumers in this region are increasingly adopting plant-based diets and seeking alternatives to traditional dairy-based beverages. They’re also concerned with health and environmental issues, and they want a wide range of plant-based beverage options.

SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ clients around the world.

To learn more about SkyQuest Technology, visit

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