The Plant-Based Milk Market is expected to record a revenue of US$ 21 billion by 2026. A plant-based milk, is used as the main substitute of milk. It is obtained from cereals (oats, wheat, rice, and barley among others), nuts, and seeds. Dairy alternatives have low fat and low cholesterol content than milk products and does not contain lactose that has medical benefits especially for the lactose intolerant people.
Increasing incidences of lactose intolerance among individuals across the globe, the rising number milk allergies, innovative product launches and smart marketing and sales promotional strategies followed by the market players are the some of the main factors driving market demand for dairy alternatives. Tedious process of legal, regulatory inspection and the relatively lower level of protein present in these dairy alternatives is likely restrain market growth.
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The global Plant-Based Milk market is segmented on the basis of Formulation, Type, Distribution Channel, and Application. The global Plant-Based Milk market is segmented based on Formulation as Flavoured Formulation and Plain Formulation. Based on Type the global Plant-Based Milk market is segregated as Soy Milk, Almond Milk, Coconut Milk, Rice Milk, Oat Milk, Hemp Milk, and Others. Based on Distribution Channel the global Plant-Based Milk market is segmented as Super Markets, Health Food Stores, Pharmacies, Convenience Stores, Online Stores, and Others.
Based on Application, the global Plant-Based Milk market is segmented in Food, Beverages, and Others.
The regional outlook on the global Plant-Based Milk market covers regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Plant-Based Milk market for each region is further bifurcated for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
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The WhiteWave Food Company under brand name Danone has a bank of about 4,000 different kinds of bacteria that it can apply to plant proteins, plans to triple sales of its plant-based products to €5 billion by 2025. The global Plant-Based Milk market is highly competitive in nature with major players including The WhiteWave Food Company, Blue Diamond Growers, Archer Daniels Midland Company, The Hain Celestial Group Inc., Eden Foods Inc., Panos Brands LLC, Earth’s Own Food Company, Daiya Foods Inc., SunOpta Inc., Freedom Foods Group Ltd, CP Kelco , and others. The report covers competitive analysis on the key market share holders. The companies are focused on several expansion and growth strategies to enhance their footprint in the Plant-Based Milk market. Market players are also involved in value chain integration gain competitive advantage.
The Plant-Based Milk market report scope covers the in-depth business analysis considering major market dynamics, forecast parameters, and price trends for the industry growth. The report forecasts market sizing at global, regional and country levels, providing comprehensive outlook of industry trends in each market segments and sub-segments from 2021 to 2030. The market segmentations include,
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Plant-Based Milk Market, By Formulation
- Flavoured Formulation
- Plain Formulation
Plant-Based Milk Market, By Type
- Soy Milk
- Almond Milk
- Coconut Milk
- Rice Milk
- Oat Milk
- Hemp Milk
Plant-Based Milk Market, By Distribution Channel
- Super Markets
- Health Food Stores
- Convenience Stores
- Online Stores
Plant-Based Milk Market, By Application
Plant-Based Milk Market, By Region
- North America
- Rest of the World
The report scope also includes competitive landscape covering the competitive analysis, strategy analysis and company profiles of the major market players. The companies profiled in the report include The WhiteWave Food Company, Blue Diamond Growers, Archer Daniels Midland Company, The Hain Celestial Group Inc., Eden Foods Inc., Panos Brands LLC, Earth’s Own Food Company, Daiya Foods Inc., SunOpta Inc., Freedom Foods Group Ltd, CP Kelco , and others. Company profiles cover company overview, product landscape, financial overview, and strategy analysis.
- Global Plant-Based Milk market sizes from 2021 to 2030
- Market growth projections through 2030 and the resultant market forecast for 2030
- Impact of the market dynamics including market drivers, restraints and opportunities in the market size
- Key industry trends, product trends, and application trends
- Major driving/ leading segmentations, regions and countries in the global Plant-Based Milk market
- Competitive analysis with comprehensive company profiles of the leading industry players
- In-depth analysis on growth and expansion strategies adopted by market players and their resulting effect on market growth and competition
The customization research services cover the additional custom report features such as additional regional and country level analysis as per the client requirements.
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