Middle East & Africa Plant-based Beverages Market Size & Outlook
Middle East & Africa plant-based beverages market, 2017-2030 (US$M)
Related Markets
MEA plant-based beverages market highlights
- The MEA plant-based beverages market generated a revenue of USD 1,412.8 million in 2021.
- The market is expected to grow at a CAGR of 11.9% from 2022 to 2030.
- In terms of segment, soy was the largest revenue generating type in 2021.
- Coconut is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2022 to 2030.
MEA data book summary
| Market revenue in 2021 | USD 1,412.8 million |
| Market revenue in 2030 | USD 3,900.4 million |
| Growth rate | 11.9% (CAGR from 2021 to 2030) |
| Largest segment | Soy |
| Fastest growing segment | Coconut |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 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, MEA region accounted for 5.8% of the global plant-based beverages market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 9,151.3 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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Middle East & Africa 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 37.59% in 2021. Horizon Databook has segmented the Middle East & Africa plant-based beverages market based on soy, coconut, almond, oats covering the revenue growth of each sub-segment from 2017 to 2030.
Plant-based beverage manufacturers are mainly focusing on those countries in the MEA region that are primarily characterized by young consumers as an increasing youth population has been turning to veganism. According Vegan Society Survey, in 2019, over 5% of the overall population in Israel was said to be vegan.
This trend has also driven the presence of vegan restaurants across the region, thereby fueling the sales and uptake of various plant-based beverages across the MEA. For instance, in 2018, the Prince of Saudi Arabia announced the opening of several vegan restaurants in the region to support the shift from a conventional diet to healthier plant-based diet, driven by the alarming rise in obesity.
Prince Khaled, a prince of the House of Saud, has been a strong promoter of the vegan lifestyle and has often expressed his disapproval when it comes to fast food restaurants. Similarly, Africa is known for being another traditional market supporting a plant-based diet.
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Target buyers of Middle East & Africa 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 continent-level data and insights on the Middle East & Africa plant-based beverages market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa plant-based beverages market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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MEA plant-based beverages market size, by country, 2017-2030 (US$M)
Middle East & Africa Plant-based Beverages Market Outlook Share, 2021 & 2030 (US$M)
Related regional statistics
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