As consumers continue to embrace plant-based diets, the protein drink category is no exception to the growing trend towards vegan products. But as plant-based protein startups like OWYN and Koia grow, established companies that have long played in the animal-based sector are now looking to get in. This year, a number of protein drink makers -- from PepsiCo-owned CytoSport to enhanced water maker Protein2o -- are introducing new plant-based lines in a move to set the pace in an emerging market.

Agricultural technology company Brandt has invested in fiber-infused water brand hellowater to bring its proprietary immune support ingredient into the beverage world.

As the market for plant-based milks grow to “out of this world” proportions, so to speak, some consumers are taking note of the sugars and preservatives used in leading brands. Enter UFO (standing for Udder Free Only), a California-based brand of premium, clean label hemp milks made with chia and oat flour.

Flow Alkaline Spring Water will go public this spring on the Toronto Stock Exchange (TSX) as the Toronto-based beverage company plans a reverse merger with an initial public offering (IPO) that aims to raise $50 million. The announcement comes as the six-year-old brand seeks to double its U.S. footprint over the next 18 months.

Swedish pea-based milk alternative brand Sproud has secured $6.5 million in new funding from London-based growth capital investor VGC Partners, the company announced today.

Cannabis beverages are no doubt among the most buzzed about emerging categories of recent years. But although THC-infused drinks had a market value of $313 million in 2020, they accounted for only a drop in the bucket of the overall $19 billion cannabis market. Beverages still have a long way to go and face numerous logistical challenges to overcome as brands seek to breakout within a highly regulated environment.