Canada Plant-based Beverages Market Size & Outlook
Canada plant-based beverages market, 2017-2030 (US$M)
Related Markets
Canada plant-based beverages market highlights
- The Canada plant-based beverages market generated a revenue of USD 455.3 million in 2021 and is expected to reach USD 1,426.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 13.5% from 2022 to 2030.
- In terms of segment, soy was the largest revenue generating type in 2021.
- Almond is the most lucrative type segment registering the fastest growth during the forecast period.
Plant-based beverages market data book summary
| Market revenue in 2021 | USD 455.3 million |
| Market revenue in 2030 | USD 1,426.0 million |
| Growth rate | 13.5% (CAGR from 2021 to 2030) |
| Largest segment | Soy |
| Fastest growing segment | Almond |
| Historical data | 2017 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Soy, Coconut, Almond, Oats |
| Key market players worldwide | Danone SA, SunOpta Inc, The Hain Celestial Group Inc, Vitasoy International Holdings Ltd, Noumi, Pacific Foods of Oregon, Blue Diamond Growers, Harmless Harvest |
Other key industry trends
- In terms of revenue, Canada accounted for 1.9% of the global plant-based beverages market in 2021.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. plant-based beverages market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 704.4 million by 2030.
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Plant-based Beverages Market Scope
Plant-based Beverages Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada plant-based beverages market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plant-based beverages market will help companies and investors design strategic landscapes.
Soy was the largest segment with a revenue share of 38.15% in 2021. Horizon Databook has segmented the Canada plant-based beverages market based on soy, coconut, almond, oats covering the revenue growth of each sub-segment from 2017 to 2030.
The rising health consciousness, supportive government initiatives, and the introduction of various vegan products in the country are anticipated to drive the market for plant-based beverages. The funding will be used to install new equipment that will help companies present in the Alberta Province develop new plant-based food & beverage products.
In addition to this, the rising prevalence of lactose intolerance in Canadians is also driving the demand for plant-based beverages. According to the Canadian Digestive Health Foundation, lactose intolerance affects more than 7 million people in Canada (as of 2020). These health issues are driving the demand for plant-based beverages in the country.
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Target buyers of Canada plant-based beverages market databook
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Our clientele includes a mix of plant-based beverages market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada plant-based beverages market , including forecasts for subscribers. This country databook contains high-level insights into Canada plant-based beverages market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Canada plant-based beverages market size, by type, 2017-2030 (US$M)
Canada Plant-based Beverages Market Outlook Share, 2021 & 2030 (US$M)
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