Vegan Beverages Market Size Set to Reach USD 61.89 Billion by 2034, Driven by Health and Sustainability

According to Towards FnB, the global vegan beverages market size accounted for USD 21.44 billion in 2025 and is forecasted to hit around USD 61.89 billion by 2034, representing a healthy CAGR of 12.5% during the forecast period from 2025 to 2034.

Ottawa, Aug. 13, 2025 (GLOBE NEWSWIRE) -- The global vegan beverages market size was valued at USD 19.06 billion in 2024 with projections indicating a rise from USD 21.44 billion in 2025 to reach nearly USD 61.89 billion by 2034, growing at a CAGR of 12.5% from 2025 to 2034, according to study published by Towards FnB, a sister firm of Precedence Research.

The market has been growing in recent years due to the increasing population of vegans and consumers following plant-based diets. Rising consumer awareness about sustainability and practicing ethical methods during the consumption of foods and beverages is also leading to the growth of the market for vegan beverages. Rising lactose intolerance is another major growth factor of the flourishing market.

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Market Overview   

The vegan beverages market comprises beverages free from animal-derived components such as dairy, honey, collagen, gelatin, and other similar products. The market consists of the alternatives made from plant-based components such as fruits, vegetables, nuts, and seeds, and other similar ingredients. Such ingredients are gut-friendly and helpful to maintain the nutritional levels of an individual as well. Dairy alternatives made from plant-based ingredients also help the growth of the market as they are included in the everyday diet essentials of a human.

Demographic studies show that millennials and Gen Z are increasingly driving the demand for vegan beverages, particularly in urban areas. This generation’s preference for sustainable and health-conscious products is contributing to the market’s growth.

Key Highlights of the Vegan Beverages Market

• By region, North America led the vegan beverages market in 2024, accounting for 38% of the market share, driven by growing demand for ready-to-drink and functional beverages.
• By region, the Asia Pacific region is forecasted to experience the fastest growth rate during the forecast period, fueled by the rising number of vegans and flexitarians.
• By product type, the plant-based milk alternatives dominated the market in 2024, holding an estimated 42% share, due to the wide availability of options such as soy, almond, oat, coconut, and rice milk.
• By product type, the vegan functional beverages segment is expected to grow at the fastest rate over the forecast period, thanks to the increasing popularity of products containing prebiotics, probiotics, adaptogens, and plant-based proteins.
• By ingredient source, the almond-based beverages led the market in 2024 with an estimated 28% share, benefiting from major almond-producing regions and a strong global supply chain.
• By ingredient source, the oat-based segment is anticipated to grow at the fastest pace during the forecast period, driven by continued innovations in oat-based ingredients.
• By packaging type, Tetra Pak cartons held the largest market share in 2024, with an estimated 38%, owing to their ability to extend shelf life, offer protection, and provide convenience.
• By packaging type, the cans (RTD functional & energy) segment is projected to experience the fastest growth during the forecast period, driven by their portability, cooling efficiency, and preservation benefits.
• By distribution channel, the supermarkets and hypermarkets led the market in 2024, making up about 35% of the market share, due to their one-stop shopping convenience, wide reach, and easy accessibility.
• By distribution channel, the online retail segment is expected to grow rapidly during the forecast period, driven by greater convenience, improved accessibility, and a broader selection of products.
• By end-user, the adults aged 19-60 dominated the market in 2024, capturing approximately 54% of the market share, largely due to higher rates of lactose intolerance and dairy allergies among this group.
• By end-user, the athletes and fitness enthusiasts segment is projected to grow at the fastest rate, fueled by the increasing demand for nutrient-rich beverages to support muscle growth and recovery.

New Trends in the Vegan Beverages Market

• High demand for plant-based and protein-rich food and beverage options globally is fueling the growth of the market.
• Rising awareness about the benefits of a vegan or plant-based diet is another major factor helping the growth of the market.
• Easy availability of plant-based beverages in supermarkets and online platforms is also helping the growth of the market.
• Maintaining ethical standards by addressing animal welfare issues is another major factor for the growth of the vegan beverages market.
• Sustainable packaging with attractive features that allow consumers to carry it easily while traveling is another major growth factor of the market. 
  

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Market Dynamics

What are the Growth Drivers of the Vegan Beverages Market?

Multiple health-beneficial factors are helping the growth of the vegan beverage market in recent times. The growing population of plant-based diet followers and vegans is one of the major factors in the growth of the market. Easy availability of plant-based beverage options on the go on various online platforms, supermarkets, and hypermarkets is also one of the successful pointers for the market’s flourishing.

Rising awareness about sustainability, maintaining ethical standards in food and beverage consumption, and animal welfare are also some of the limelight points fueling the vegan beverages market growth. Plant-based and protein rich beverages, helpful for consumers to complete their protein intake and fulfill their required nutritional levels, are also another major factor for the growth of the market.

• A study conducted by the Plant-Based Foods Association revealed that sales of plant-based milk grew by 20% in 2024 alone, with almond milk remaining the leader. This rapid growth underscores the rising consumer preference for dairy alternatives.
  

Challenge

How Have High Production Costs Hampered Growth in the Market for Vegan Beverages?

Manufacturing of plant-based alternatives for dairy and meat requires special ingredients and processing techniques. Such methods lead to a rise in the costs during the manufacturing procedure, further impacting the price of the final product. Hence, price-sensitive consumers may not be a part of the consumer base of the vegan beverages market, leading to a decline in the market’s growth. Hence, such issues restrict the growth of the market.

Opportunities

How Have Plant-Based Protein Alternatives Helped the Growth of the Market in the Forecast Period?

Plant-based food and beverages, along with being rich in protein content, are helping the growth of the vegan beverages market in the foreseeable future. Such products have a huge consumer base of athletes and fitness enthusiasts who are in search of protein-rich and gut-friendly beverages to keep them fit and active, along with fulfilling the nutritional requirements of their bodies. Hence, the segment has a huge scope for growth in the foreseen period.

Vegan Beverages Market Regional Analysis

Which Region Led the Vegan Beverages Market in 2024?

North America led the vegan beverages market in 2024 due to the high involvement of the regional government in promoting plant-based beverages. It benefits maintaining sustainability, contributes to animal welfare, and provides an array of benefits for digestive health, which also helps in the growth of the market. High demand for plant-based and high-protein alternatives is another major factor helpful for the market’s growth in the region. High demand for plant-based dairy alternatives is also one of the major factors in the growth of the vegan beverages market.

The U.S. accounted for the largest market share in North America, with vegan milk alternatives such as oat milk and almond milk leading the way due to their growing popularity in coffee shops and supermarkets.

Why is Asia Pacific Expected to Grow the Fastest During the Forecast Period?

High demand for plant-based alternatives, rising population of vegans and plant-based diet followers, and increasing awareness about sustainability are some of the major factors driving the growth of the vegan beverages market in the Asia Pacific. Government initiatives to promote sustainability and practice ethical standards for the consumption of food and beverages are another major factor for the growth of the vegan beverages market in the forecast period.

Vegan Beverages Market Report Scope

Report Attribute	Key Statistics
Base Year	2024
Forecast Period	2025 to 2034
Growth Rate from 2025 to 2034	CAGR of 12.5%
Market Size in 2024	USD 19.06 Billion
Market Size in 2025	USD 21.44 Billion
Market Size by 2034	USD 61.89 Billion
Dominated Region	North America
Fastest Growing Region	Asia Pacific
Regions Covered	North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

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Vegan Beverages Market Segmental Analysis

Product Type Analysis

The plant-based milk alternatives segment led the vegan beverages market in 2024 due to multiple benefits associated with them for overall health. Such food and beverages are low in calories, high in protein, and essential vitamins and nutrients. These are also lactose-free and higher in fiber. Hence, this segment led the market for vegan beverages in 2024. Such beverages are also low in sugar, are generally considered better for health, and are made from plant-based ingredients such as nuts, seeds, legumes, and other beneficial alternative ingredients helpful for the functioning of the human body.

The vegan functional beverages segment is expected to grow in the foreseeable period due to the high availability of such beverages on online platforms and supermarkets. Hence, fitness enthusiasts and athletes prefer to consume such beverages, which are helpful for their gut health, allowing them to gorge on essential nutrients as well. Lactose-intolerant and vegans form a huge base for the market to get protein and other essential nutrients easily in the form of prebiotics, probiotics, and plant-based energy drinks.

Ingredient Source Analysis

The almond-based segment led the vegan beverages market in 2024 due to its high nutrition, leading to significant demand by vegans and plant-based diet followers. Almond milk is one of the crucial sources for the production of multiple plant-based products, such as almond flour, almond-based beverages, almond protein powder, almond oil, and multiple other products. Such products are helpful to fulfill the essential nutritional requirements of an individual, along with replicating the same texture and taste of regular milk. 

The oat-based segment is expected to grow in the forecasted period between 2025 and 2034 due to its lower environmental impact, multiple health benefits, including for digestion, managing blood sugar levels, and promoting easy digestion. Products manufactured from oats, such as oat-based flour and beverages, are easy on the stomach, low in sugar (making it an ideal choice for diabetes patients), and allergen-free. Oats also have a lower carbon footprint compared to other grain alternatives, such as almonds, which works well with the growing consumer preference for eco-friendly food options. Hence, the segment is observed to grow in the foreseen period. 

Packaging Type Analysis

The cartons (Tetra Pak) segment led the vegan beverages market in 2024 due to its sustainable composition, inclusive of cardboard, aluminum, and polymers. Such materials are sustainable and hence are highly used by the packaging industry to lower their carbon footprint. They also help to store solid and liquid products safely and hence are highly used by the food and beverage industry. Such positive pointers help the growth of the market.

The cans (RTD functional & energy) segment is expected to grow in the foreseen period due to multiple advantages of the aluminum can, especially in terms of recycling, which will help the growth of the market. Such cans are lightweight, easy to carry, and also economical for the manufacturing industry. Such benefits help the growth of the market for vegan beverages in the forecasted period. Such cans also help to keep the product safe and lower product wastage, along with maintaining its shelf life and enhancing the brand name, which is broadly helpful from a marketing perspective as well.

Distribution Channel Analysis

The supermarkets and hypermarkets segment led the vegan beverages market in 2024 because they aggregate different types of plant-based beverages under one roof, allowing consumers a wide variety. Consumers can also avail themselves of the benefits of coupons and discounts on such platforms, making their shopping experience more delightful and economical. Many consumers also like to see, touch, smell, and sometimes taste products before buying, with some preferring to compare the benefits and ingredients listed in the products in real-time. This leads them to prefer such markets over other alternatives. 

The online retail segment is expected to grow in the foreseeable period due to the growth of e-commerce and online platforms, allowing consumers to get the desired product at their doorstep. Hence, the segment is observed to grow in the foreseen period. Online platforms allow consumers to select from a wide range of products, helping consumers to go through the product reviews and select the best and economical option.

End-User Analysis

The adults (19–60 years) segment dominated the vegan beverages market in 2024 due to awareness of health and wellness among adults. High influence of social media platforms and the availability of such products easily on different platforms is another major factor helpful for the market’s growth. The rising number of vegans and plant-based diet followers is also one of the major factors in the growth of the market.

The athletes/fitness enthusiasts segment is expected to grow in the foreseen period due to its health-benefitting properties, such as muscle building and recovery, enhanced performance, gut-friendly properties, endurance, and other similar qualities helpful for enthusiasts. Hence, the segment is observed to grow in the foreseen period. Advancements in sports nutrition science and the availability of a wide variety of specialized products, ranging from electrolyte beverages to energy gels and probiotic-infused snacks, are also expected to drive demand from this demographic. Rising participation in recreational sports, gym memberships, and endurance events such as marathons and triathlons is further driving demand. 

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Additional Topics Worth Exploring:

• Alcoholic Drinks Market: The global alcoholic drinks market size is projected to expand from USD 1,934.86 billion in 2025 to USD 4,488.19 billion by 2034, growing at a CAGR of 9.80% during the forecast period from 2025 to 2034.
• Soft Drinks Market: The global soft drinks market size is projected to expand from USD 222.64 billion in 2025 to USD 280.50 billion by 2034, growing at a CAGR of 2.6% during the forecast period from 2025 to 2034.
• Probiotic Drinks Market: The global probiotic drinks market size is projected to expand from USD 26.96 billion in 2025 to USD 56.19 billion by 2034, growing at a CAGR of 8.50% during the forecast period from 2025 to 2034.
• North America Snack Bar Market: The North America snack bar market size is rising from USD 14.85 billion in 2025 to USD 30.17 billion by 2034. This projected expansion reflects a CAGR of 8.2% during the forecast period from 2025 to 2034.
• Wheat Protein Ingredients Market: The global wheat protein ingredients market size is projected to witness strong growth from USD 6.44 billion in 2025 to USD 9.33 billion by 2034, reflecting a CAGR of 4.2% over the forecast period from 2025 to 2034.
• Food Ingredients Market: The global food ingredients market size is projected to expand from USD 368.70 billion in 2025 to USD 567.09 billion by 2034, growing at a CAGR of 4.9% during the forecast period from 2025 to 2034.
• Micronized Salt Market: The global micronized salt market size is rising from USD 3,145.70 million in 2025 to USD 3,998.08 million by 2034. This projected expansion reflects a CAGR of 2.7% during the forecast period from 2025 to 2034.
• U.S. Maltodextrin Market: The U.S. maltodextrin market size is projected to witness strong growth from USD 1.44 billion in 2025 to USD 2.06 billion by 2034, reflecting a CAGR of 4.1% over the forecast period from 2025 to 2034.

Recent Developments in the Vegan Beverages Market

• In May 2025, Prodotti Rubicone, an Italian company specializing in gelato and pastry ingredients, launched its two acai-based products to fulfill the growing demand for natural and functional ingredients in the food and beverage industry. The main aim of the launch was to offer clean-label and functional foods in the growing trend of the industry these days. (Source: https://vegconomist.com)
• In February 2025, Continental Wine & Food Ltd., a Yorkshire-based alcoholic drinks importer, launched its range of vegan-friendly, milkshake-inspired creamy liqueurs in the UK. The range is free from dairy, gluten, and other major allergens, ideal for vegans and plant-based diet followers to enjoy a beverage at times. (Source: https://plantbasednews.org)

Vegan Beverages Market Top Key Players

• Danone S.A.
• Nestlé S.A.
• Califia Farms
• The Hain Celestial Group, Inc.
• Blue Diamond Growers
• SunOpta Inc.
• Ripple Foods
• Oatly AB
• Silk (a Danone brand)
• Elmhurst 1925
• Pacific Foods of Oregon (Campbell Soup Company)
• Alpro (a Danone brand)
• Daiya Foods
• Living Harvest Foods (Tempt)
• Good Karma Foods
• Rebel Kitchen
• Vitasoy International Holdings
• Plenish Cleanse Ltd.
• Innocent Drinks (Coca-Cola owned)
• Rude Health 

Segments Covered in the Report

By Product Type

• Plant-based Milk Alternatives
  • Almond Milk
  • Soy Milk
  • Oat Milk
  • Coconut Milk
  • Rice Milk
  • Cashew Milk
  • Hemp Milk
  • Other Nut/Seed Milks
• Vegan Juices
  • Cold-Pressed Juices
  • Functional Fruit & Vegetable Juices
• Vegan Functional Beverages
  • Probiotic Drinks (e.g., kombucha, kefir alternatives)
  • Energy Drinks
  • Detox/Wellness Drinks
• Vegan Protein Beverages
  • Ready-to-Drink (RTD) Protein Shakes
  • Powder Mixes (blended with plant-based liquids)
• Vegan RTD Tea & Coffee
  • Cold Brew with Plant Milk
  • RTD Vegan Lattes
• Vegan Smoothies
  • Fruit-Based
  • Protein-Fortified
• Others
  • Vegan Chocolate Drinks
  • Vegan Meal Replacement Drinks

By Ingredient Source

• Soy-Based
• Almond-Based
• Oat-Based
• Coconut-Based
• Rice-Based
• Pea Protein-Based
• Hemp-Based
• Mixed Plant Sources
• Others (e.g., cashew, flax, quinoa)
  

By Packaging Type

• Bottles (Glass, PET)
• Cans (RTD Functional & Energy)
• Cartons (Tetra Pak)
• Sachets/Single-Serve Pouches
• Powdered Containers (for vegan drink mixes)
  

By Distribution Channel

• Supermarkets & Hypermarkets
• Health Food Stores
• Online Retail
• Specialty Stores
• Convenience Stores
• Cafés / QSR Chains / On-the-Go Retailers

By End-User

• Adults (19–60 Years)
• Teenagers (13–18 Years)
• Elderly (60+ Years)
• Children (<13 Years)
• Athletes/Fitness Enthusiasts
• Lactose-Intolerant / Allergic Consumers

By Region

North America

• U.S.
• Canada

Asia Pacific

• China
• Japan
• India
• South Korea
• Thailand
  

Europe

• Germany
• UK
• France
• Italy
• Spain
• Sweden
• Denmark
• Norway

Latin America

• Brazil
• Mexico
• Argentina
  

Middle East and Africa (MEA)

• South Africa
• UAE
• Saudi Arabia
• Kuwait

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