Data Bridge Market research has recently released expansive research titled "North America Plant-Based Milk Market" guarantees you will remain better informed than your competition. This study provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. North America Plant-Based Milk market research report is composed of myriad of factors that have an influence on the market and include industry insight and critical success factors (CSFs), market segmentation and value chain analysis, industry dynamics, market drivers, market restraints, key opportunities, technology and application outlook, country-level and regional analysis, competitive landscape, company market share analysis and key company profiles. In addition, businesses can gain insights into profit growth and sustainability programme with this report. Business intelligence is an essential aspect when it comes to accomplish thorough and wide-ranging market insights and the same is applied for producing North America Plant-Based Milk market report.
North America 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 12.0% in the forecast period of 2023 to 2030 and is expected to reach USD 10,821.40 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.
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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 are almond, oat, soy, coconut, and cashew nut milk. Since ancient times, people have drank beverages made from plants.
| REPORT METRIC | DETAILS |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Years | 2021 (Customizable to 2020 - 2015) |
| Quantitative Units | Revenue in USD Million |
| 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) |
| Countries Covered | U.S., Canada, and Mexico |
| Market Players Covered | Silk, Alpro, THE HAIN CELESTIAL GROUP, INC., SUNOPTA GRAINS AND FOODS INC., Califia Farms, LLC, NotCo, YEO HIAP SENG LTD., natur-a, Oatly Inc., Elmhurst Milked Direct LLC, Manitoba Milling Company, and HP Hood LLC. among others |
North America 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 North America 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 North America 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
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North America Plant-Based Milk Market, By Region:
North America 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 North America plant-based milk market are the U.S., Canada, and Mexico.
The U.S. is expected to dominate North America plant-based milk market due to the high preference for plant-based milk among consumers.
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 North American 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 data.
Reasons to Consider This Report:
- Save the time and resources required for entry level research by getting an insight into the leading players and segments of North America Plant-Based Milk market.
- The report highlights key business priorities which will help companies to reform their business strategies and establish themselves in the market.
- The key findings and recommendations given in the report emphasize on crucial progressive industry trends in the North America Plant-Based Milk Market thereby enabling players to develop effective long term strategies in order to garner their market revenue.
- Gain crucial insights into market trends and outlook and the factors driving and hindering market growth.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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Queries Resolved In This Report:
- Which will be the specialties at which Market players profiling with intensive designs, financials, and furthermore, ongoing headways should set a nearness?
- Which will be the foreseen development rates for your own economy out and out and furthermore for each portion inside?
- Which will be the application and sorts and estimate joined intently by makers?
- What will be the dangers that will attack growth?
- The length of the market opportunity?
- How does Market share advance vacillations their value from various assembling brands?
Table of Contents: North America Plant-Based Milk Market
Introduction
Market Segmentation
Executive Summary
Premium Insight
Market Overview
Covid-19 Impact on North America Plant-Based Milkin Healthcare Industry
North America Plant-Based Milk Market, by Product Type
North America Plant-Based Milk Market, by Modality
North America Plant-Based Milk Market, by Type
North America Plant-Based Milk Market, by Mode
North America Plant-Based Milk Market, by End User
North America Plant-Based Milk Market, by Geography
North America Plant-Based Milk Market, Company Landscape
Swot Analysis
Company Profiles
Questionnaire
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Check Complete Table of Contents with List of Table and Figures @ https://www.databridgemarketresearch.com/toc/?dbmr=north-america-plant-based-milk-market
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