Russia Plant-Based Beverages Market Growth Opportunity 2021-2026

1. Russia Plant-Based Beverages Market Growth Opportunity 2021-2026 [ 2023 UPDATE Available – Forecast 2023-2030*] The plant-based beverages market in Russia is experiencing remarkable growth, driven by the increasing demand for healthier drink options among consumers. According to market reports, the global plant-based beverages market was valued at US$15.3 billion in 2019 and is projected to surpass US$34.8 billion by the end of 2026, with a compound annual growth rate (CAGR) of 12.9% during the forecast period of 2021 to 2026. Access Full Report: https://www.fairfieldmarketresearch.com/report/plant-based- beverages-market The surge in popularity of plant-based ingredients in healthy foods has contributed significantly to the growth of the plant-based beverages market. In Russia, as well as in North America, Asia Pacific, and Europe, the rising interest in health-conscious diets has fueled the demand for plant-based beverages. Manufacturers across various sectors are incorporating

2. plant-based beverages to develop low-calorie food products, capitalizing on the trend towards healthier choices. A notable trend driving the market is the preference for non-dairy products. Protein content is a crucial factor, particularly for consumers transitioning to plant-based or meat-free lifestyles. Plant-based protein sources are gaining acceptance among consumers, who perceive non- dairy beverages as high in protein. In the United States, over 45% of consumers choose non- dairy milk for its nutritional value, and more than 35% consider it a good protein source. Manufacturers in the plant-based beverages market can capitalize on this trend by introducing innovative drink ranges that cater to the growing demand for non-dairy and protein-rich options. Despite the promising growth prospects, the plant-based beverages market faces certain limitations. High costs associated with manufacturing and research and development (R&D) activities pose challenges for mid-sized companies. Adequate investments in R&D, laboratories, research equipment, and skilled professionals are necessary for the development of plant-based beverages. Additionally, the regulatory landscape for plant beverages varies across regions, and the lack of stringent regulations can lead to issues concerning product quality, safety, and efficacy. These factors present barriers to entry and may hinder the growth of smaller players in the market. In Russia, the plant-based beverages market is poised for substantial growth, reflecting the global trend. North America is expected to lead the global market, followed by Asia Pacific, which is projected to exhibit the highest growth rate. Factors such as changing lifestyles, increased health concerns, and rising disposable income are driving the demand for plant- based beverages in these regions. The global plant-based beverages market is highly competitive and diverse, with the presence of numerous local and international manufacturers. Key market players include Califia Farms LP, Good Karma Foods, Inc., Danone SA, Ripple Foods, PBC, Koia, Harmless Harvest Inc, Pureharvest, and Blue Diamond Growers. To sustain and expand their market presence, many companies are engaging in strategic acquisitions and mergers with both small and large manufacturers. Web: https://www.fairfieldmarketresearch.com/ Email: sales@fairfieldmarketresearch.com