The non-alcoholic beverages market in Europe is expected to grow from US$ 360.55 million in 2022 to US$ 500.28 million by 2028. It is estimated to grow at a CAGR of 5.6% from 2022 to 2028.
Rising Popularity of Plant-Based Beverages
The vegan population has grown significantly over the past few years. People are readily switching to a vegan diet due to increased health and sustainability concerns. According to the International Food Information Council’s 2021 Food and Health Survey, more than 4 out of 10 buyers believe plant-based food and beverages are healthier than conventional ones even when two products have similar ingredients and provide similar nutritional benefits.
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The demand for dairy alternatives is increasing promisingly due to the growing influence of veganism and the increasing lactose-intolerant population. Therefore, beverage manufacturers are increasingly launching products with plant-based claims to meet the growing demand. The products are made with oat milk and are certified vegan. For instance, in February 2021, Minor Figures, a UK-based beverage brand, launched a range of barista-quality canned tea and coffee with four variantsโlatte, matcha latte, chai latte, and mocha. Thus, the rising number of product launches under the plant-based beverage category is expected to drive the demand for non-alcoholic beverages in the coming years.
๐๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ง๐ค @ https://www.businessmarketinsights.com/reports/europe-non-alcoholic-beverages-market
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Asahi Group Holdings, Ltd.
Bolthouse Farms, Inc.
Califia Farms, LLC
Danone S.A.
Keurig Dr Pepper, Inc.
Nestlรฉ S.A.
PepsiCo Inc.
Red Bull
SUNTORY HOLDINGS LIMITED.
The Coca-Cola Company
