'Global Plant-Based Milk Market' the new research report adds in Data Bridge Market Research's reports database. This Research Report spread across 329 Page, 53 No of Tables, And 244 No of Figures with summarizing Top companies, with tables and figures. The Plant-Based Milk market research report presents a comprehensive study on production capacity, consumption, import and export for all the major regions across the world. By keeping in mind the end user's point of view, a team of researchers, forecasters, analysts and industry expert's work in-depth to formulate this Plant-Based Milk market research report. The research and analysis carried out in this Plant-Based Milk report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. To turn complex market insights into simpler version, well established tools and techniques are used for generation of Plant-Based Milk report.
The global plant-based milk market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 12.4% in the forecast period of 2023 to 2030 and is expected to reach USD 50,066.21 million by 2030. The increase in the vegan population around the globe is the key factor fueling the expansion of the plant-based milk market.
In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Market Definition
Plant-based milk is a beverage made from plants that resemble milk in appearance. Plant milk is a non-dairy beverage flavored and scented with water-based plant extracts. Plant-based milk is consumed as a vegan alternative to dairy milk. Plant-based milk has a creamy texture if compared with dairy milk. For the production of plant milk, various plants are used. Among the most popular plant milk globally are almond, oat, soy, coconut, and cashew nut milk. Since ancient times, people have drank beverages made from plants.
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REPORT METRIC |
DETAILS |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2020 - 2015) |
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Quantitative Units |
Revenue in USD Million |
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Segments Covered |
By Type (Almond Milk, Coconut Milk, Cashew Milk, Walnut Milk, Hazelnut Milk, Soy Milk, Oat Milk, Rice Milk, Flax Milk, and Others), Product Type (Refrigerated Milk and Shelf Stable Milk), Category (Organic and Conventional), Formulation (Sweetened and Unsweetened), Flavor (Original/Unflavored, Vanilla, Chocolate, Honey, Coconut Blend, Hazelnut Blend, Caramel, Maple, Coffee, and Others), Fortification (Regular and Fortified), Nature (GMO and Non-GMO), Claim (Regular, Gluten Free, Nut Free, Soy Free, Artificial Preservatives & Colour Free, and Others), Packaging Size (Less than 100 ml, 110 ml, 250 ml, 500 ml, 1000 ml, and More than 1000 ml), Packaging Type (Tetra Packs, Bottles, and Can), and Distribution Channel (Store Based Retailers and Non-Store Based Retailers) |
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Countries Covered |
U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, and the rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, and rest of Asia-Pacific, South Africa, UAE, Saudi Arabia, Kuwait and rest of Middle East and Africa |
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Market Players Covered |
Silk, Sanitarium, Alpro, RUDE HEALTH, Plenish, Provamel organic-bio, THE HAIN CELESTIAL GROUP, INC., SUNOPTA GRAINS AND FOODS INC., Califia Farms, LLC, NotCo, Valsoia S.p.A, YEO HIAP SENG LTD., Simple FOODS, natur-a, Nutrisslim, Australia's Own, Oatly Inc., Elmhurst Milked Direct LLC, Hershey India Private Limited, Life Health Foods, Manitoba Milling Company, and HP Hood LLC. among others |
Global Plant-Based Milk Market Dynamics
Driver
- Increase in vegan population around the globe
The vegan market has exponentially increased over the past ten years, making more people turn to plant-based diets each year. The increased health awareness has increased the demand for natural and organic food. This has driven a major part of the population to change their lifestyle and diet drastically. The vegan community concentrates on eating foods that have ingredients or other components that come from plants. The risk of several diseases, such as heart disease, type 2 diabetes, hypertension, certain types of cancer, and obesity, is decreased by properly planned vegan diets, according to the Academy of Nutrition and Dietetics. As a result, some of these vegetarian or vegan customers have begun to pay attention to plant-based milk in their daily diet
Thus, the rapidly growing vegan population around the globe and consumers adopting more vegan vegetarian or flexitarian diets will also increase the market of plant-based food and beverages. This, in turn, will also help drive the global plant-based milk market growth.
Opportunity
- Growing new product launches and new partnerships, acquisition among key players
Consumers, food, and beverage manufacturers are making various developments and strategic decisions to grow their businesses to cope with the growing demand for plant-based foods such as plant-based milk. From new product launches to investments to acquisitions, the market's top players are evolving their business practices and expanding their product portfolios.
Thus, such developments will further draw growth opportunities for the global plant-based milk market and will further attract more and more consumers to the nut-based milk market.
Restraint/Challenge
- Rise in nut allergies among consumers
Nut allergies are a type of food allergy that can cause severe and potentially life-threatening reactions, such as anaphylaxis. Different nuts are a well-defined cause of food allergy. They appear to be differences in the frequency of nut allergy between countries because of other dietary habits and cooking procedures. Nuts allergy is very common, especially in children and adults, and this population is increasing daily. Sales growth has been lowering since consumers are conscious about their health choices.
Furthermore, tree nuts and seeds are some of the most common food triggers for life-threatening severe allergic reactions. In Europe, tree nut allergies are common, with a hazelnut allergy being the most prevalent tree nut allergy. Cashews are the second most allergic nut and a significant health problem in the U.S. Other than avoiding nuts and foods containing them, and there is no treatment for nut allergies. As a result, this has significantly impacted the nuts industry and is projected to continue.
Recent Developments
- In January 2023, Reitan, a major retailer in the Nordic and Baltic region, and Oatly Inc. recently announced the expansion of their relationship. Reitan owns and operates about 300 Pressbyrn and 90 7-Eleven convenience stores throughout Sweden. This partnership will help the company boost its business and attract a new consumer base
- In 2021, Silk announced its new product launch, Silk Oat. This launch has given the company a larger portfolio, attracting a larger consumer base
Top Key players in Global Plant-Based Milk Market Report: Silk, Sanitarium, Alpro, RUDE HEALTH, Plenish, Provamel organic-bio, THE HAIN CELESTIAL GROUP, INC., SUNOPTA GRAINS AND FOODS INC., Califia Farms, LLC, NotCo, Valsoia S.p.A, YEO HIAP SENG LTD., Simple FOODS, natur-a, Nutrisslim, Australia's Own, Oatly Inc., Elmhurst Milked Direct LLC, Hershey India Private Limited, Life Health Foods, Manitoba Milling Company, and HP Hood LLC.
Get Access to Full Report (Including Graphs, Charts & Figures) at https://www.databridgemarketresearch.com/reports/global-plant-based-milk-market
Market Segmentation:
The global plant-based milk market is segmented into eleven notable segments based on type, product type, category, formulation, flavor, fortification, nature, claim, packaging size, packaging type, and distribution channel. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
BY TYPE
- Oat Milk
- Soy Milk
- Almond Milk
- Coconut Milk
- Rice Milk
- Cashew Nut Milk
- Walnut Milk
- Hazelnut Milk
- Flax Milk
- Others
On the basis of type, the global plant-based milk market is segmented into almond milk, coconut milk, cashew milk, walnut milk, hazelnut milk, soy milk, oat milk, rice milk, flax milk, and others.
BY PRODUCT TYPE
- Refrigerated Milk
- Shelf Stable Milk
On the basis of product type, the global plant-based milk market is segmented into refrigerated milk and shelf stable milk.
BY CATEGORY
- Conventional
- Organic
On the basis of category, the global plant-based milk market is segmented into organic and conventional.
BY FORMULATION
- Unsweetened
- Sweetened
On the basis of formulation, the global plant-based milk market is segmented into sweetened and unsweetened.
BY FLAVOR
- Original/Unflavored
- Vanilla
- Chocolate
- Coffee
- Coconut Blend
- Caramel
- Honey
- Hazelnut Blend
- Maple
- Others
On the basis of flavor, the global plant-based milk market is segmented into original/unflavored, vanilla, chocolate, honey, coconut blend, hazelnut blend, caramel, maple, coffee, and others.
BY FORTIFICATION
- Regular
- Fortified
On the basis of fortification, the global plant-based milk market is segmented into regular and fortified.
BY NATURE
- Non-GMO
- GMO
On the basis of nature, the global plant-based milk market is segmented into GMO and non-GMO.
BY CLAIM
- Regular
- Gluten Free
- Artificial Preservatives & Color Free
- Soy Free
- Nut Free
- Others
On the basis of claim, the global plant-based milk market is segmented into regular, gluten free, nut free, soy free, artificial preservatives, color free, and others.
BY PACKAGING SIZE
- 1000 ML
- 250 ML
- 500 ML
- 110 ML
- More Than 1000 ML
- Less Than 100 ML
On the basis of packaging size, the global plant-based milk market is segmented into less than 100 ml, 110 ml, 250 ml, 500 ml, 1000 ml, and more than 1000 ml.
BY PACKAGING TYPE
- Tetra Packs
- Bottles
- Can
On the basis of packaging type, the global plant-based milk market is segmented into tetra packs, bottles, and can.
BY DISTRIBUTION CHANNEL
- Non-Store Retailers
- Store Based Retailers
On the basis of distribution channel, the global plant-based milk market is segmented into store based retailers and non-store based retailers.
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Plant-Based Milk Market Regional Analysis/Insights
The global plant-based milk market is segmented on the basis of type, product type, category, formulation, flavor, fortification, nature, claim, packaging size, packaging type, and distribution channel.
Some countries in the global plant-based milk market are the U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia, rest of Asia-Pacific, Brazil, Argentina, and the Rest of South America, South Africa, Saudi Arabia, United Arab Emirates, Kuwait, and rest of Middle East and Africa.
Asia-Pacific is dominating the global plant-based milk market due to the increasing use of plant-based milk, and the market players' promotional activities are boosting the demand for plant-based milk products.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country
Key questions answered in the report:
- What will the market development pace of the Plant-Based Milk market?
- What are the key factors driving the Global Plant-Based Milk market?
- Who are the key manufacturers in the market space?
- What are the market openings, market hazard and market outline of the market?
- What are sales, revenue, and price analysis of top manufacturers of Plant-Based Milk market?
- Who are the distributors, traders, and dealers of Plant-Based Milk market?
- What are the Plant-Based Milk market opportunities and threats faced by the vendors in the Global Plant-Based Milk industries?
- What are deals, income, and value examination by types and utilizations of the market?
- What are deals, income, and value examination by areas of enterprises?
For More Insights Get Detailed TOC at https://www.databridgemarketresearch.com/toc/?dbmr=global-plant-based-milk-market
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