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The Latin America, Middle East and Africa Plant-based Beverages Market would witness market growth of 13.9% CAGR during the forecast period (2022-2028).
Plant-based milk can be an excellent source of protein as well as low in calories, depending on the specific product. Some contain DHA omega-3s and probiotics. Plant-based milk provides a means for people with milk sensitivities or lactose intolerance to obtain some of the healthful elements contained in dairy milk. Plant-based and flexitarian consumers frequently base their purchasing decisions on the sustainability of plant-based milk.
Moreover, due to the diversity of plant-based milk, some are more environmentally friendly than others. The minimal land and water requirements of oats, for instance, help to make oat milk sustainability stand out among plant-based milk. For customers who prefer shelf-stable plant-based milk, aseptic cartons and single-serve bottles are available.
Vegan, dairy-free, and lactose-free may be the most prevalent front-of-package claims, but additional allergy-free claims, such as nut-free, soy-free, and gluten-free are also utilized. Excellent sources of calcium, low in saturated fat, as well as protein and calorie claims, are made. Non-GMO and organic are tried-and-true characteristics for this category, while no added sugar and gums are on the rise.
The increasing number of shops and restaurants in Saudi Arabia that offer a wide variety of vegan and vegetarian items makes the transition from meat to plant-based diets more appealing to the youth demographic. Increasing awareness of health, the environment, as well as animal rights has led to a rise in the demand for plant-based foods and drinks in the UAE and South Africa. These factors are anticipated to contribute to the expansion of the plant-based food and beverage market in the coming years.
The Brazil market dominated the LAMEA Plant-based Beverages Market by Country in 2021; thereby, achieving a market value of $610.5 Million by 2028. The Argentina market is showcasing a CAGR of 14.5% during (2022 - 2028). Additionally, The UAE market would register a CAGR of 13.6% during (2022 - 2028).
Based on Product, the market is segmented into Plain and Flavored. Based on Type, the market is segmented into Soy, Almond, Coconut, Oats and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danone S.A. (Sofina Group), Campbell Soup Company (Pacific Foods of Oregon, LLC), Blue Diamond Growers, Inc., SunOpta, Inc, The Hain Celestial Group, Inc., Califia Farms LLC, Koia, Vitasoy International Group Co., Ltd. and Noumi Limited
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