The global Plant Milk market size was crossed USD 12 billion in 2019 and is projected to reach at a CAGR of 11.0% during the forecast period from 2020 and 2026.

Plant Milk Market Overview:

Rising consumer awareness regarding vegan diets and their associated health benefits is driving market growth. Derived from sources such as soy, almond, coconut, oat, and rice, plant milk is the best alternative to cow and other animal milk available on the market. Plant milk is widely accepted by consumers for its high nutritional value and rich vitamins, minerals, carbohydrates, and proteins. It has various applications in the food and beverage, dairy industry, and cosmetics industry. Hence, rising awareness about plant milk and its nutritional value is likely to drive the demand for the plant milk market during the forecast period.

 Plant milks have a wide range of applications in the food and beverage industry. It is used for the flavoring and aroma of various products. It includes nutrients like calcium, essential minerals, and omega-3 fatty acids, as well as vitamins like A, D, and B12. Due to its high demand, consumers hope to boost the market outlook. Furthermore, lactose intolerance in infants is one of the major factors driving the growth of the plant milk market. It can cause various symptoms including bloating, diarrhea, and abdominal cramps due to the high percentage of lactose in milk compared to plant milk, which will drive the industry outlook.

Plant Milk market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Plant Milk market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.

The global Plant Milk market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.

Significant Plant Milk Market Dynamics and Growth Factors:

Rising prevalence of chronic lifestyle diseases and intolerance to milk
One of the key factors driving the growth of the market is the prevalence of chronic lifestyle diseases and intolerance to animal proteins. Moreover, widespread adoption of vegan diets across the world is driving the market growth. There has been a global shift in preference for plant-based dairy products amid rising consumer awareness about animal health and the rise of lactose-intolerant individuals around the world. Therefore, the market outlook is more optimistic.

The rise of social media marketing
Additionally, developing new products such as plant-based milk, eggs, and meat can spur growth. These products are rich in essential nutrients and taste almost the same as products of animal origin. Other factors such as widespread promotional campaigns by celebrities and athletes to encourage consumption of vegan products to maintain a healthy lifestyle and ease of product availability through proliferating online retail channels are expected to further drive the market.

Opportunities
Lactose intolerance is one of the latest opportunities in the global market. The vast majority of the world's population will still be lactose intolerant. This segment of the global population will always need a lactose-free alternative, which the plant-based milk industry can provide. Another possibility is the Sustainable Living movement, which advocates for climate change and animal-safe milk. Global markets are closely watching the great opportunity in the plant milk market as people make more environmentally friendly choices to reduce their domestic carbon footprint.

Industry News

• In January 2019, Costa Coffee has added almond milk to its line-up to meet the growing demand for vegan options.
• In February 2019, Califia Farms has introduced Übermilk, a nutritious line of oat milk beverages that are packed with protein and essential nutrients.

Top Key Players include in the Plant Milk Market are
Ripple Foods, Danone, WhiteWave Foods, Archer-Daniels-Midland, Hain Celestial Group, Califia Farms, Daiya Foods, Freedom Foods, and others.

The Plant Milk market research report is categorized based on type, applications and region.

On the Basis of Type:

• Soy
• Almond
• Rice
• Coconut

On the Basis of Application:

• Snacks
• Bakery & Confectionery
• Beverages and Others

Distribution channel:

• Business to business
• Business to consumer

On the Basis of Region:

Geographically, the global Plant Milk market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Plant Milk region is dominating this market in the upcoming future.

North America is estimated to hold the major revenue share in the global plant-based market, owing to the rapidly increasing vegan population in the region. The rapid expansion of dairy alternatives market in North America is expected to contribute significantly to the growth of the region. Increased expenditure of North American population on food and beverage products, coupled with a rapid shift in preference of American population and adoption of a healthy diet is further expected to aid the growth of North America plant-based milk market.

The Asia Pacific is expected to be growing at the fastest pace over the forecast period, due to the rising adoption of plant-based milk by Asian population attributed to health benefits offered by the product. Availability of source materials for production of plant-based milk, such as soy and rice in abundance, within Asian countries such as China, India, South Korea, and others will further propel the growth of plant-based milk market of the region.

Further the regions are divided into countries as follows

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Plant Milk Market report scope

Report Attributes	Details
Growth Rate	CAGR of 11.0% during the forecast period.
By Type	Soy, Almond, Rice, Coconut
By Application	Snacks, Bakery & Confectionery, Beverages and Others
By Companies	Ripple Foods, Danone, WhiteWave Foods, Archer-Daniels-Midland, Hain Celestial Group, Califia Farms, Daiya Foods, Freedom Foods
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

 

The major key questions addressed through this innovative research report:

What are the major challenges in front of the global Plant Milk market?

Who are the key vendors of the global Plant Milk market?

What are the leading key industries of the global Plant Milk market?

Which factors are responsible for driving the global Plant Milk market?

What are the key outcomes of SWOT and Porter’s five analysis?

What are the major key strategies for enhancing global opportunities?

What are the different effective sales patterns?

What will be the global market size in the forecast period?

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