Plant Milk Market Size By Source (Almond, Soy, Coconut, Rice) By Formulation (Unsweetened, Sweetened), By Sales Channel (Mainstream Stores, Specialty Stores and Online Stores), By Packaging (Carton Packaging, Bottles, Pouches), Industry Analysis Report, Regional, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Oct 2020  |  Report ID: GMI2250  |  Authors: Kunal Ahuja, Amit Rawat

Report Format: PDF   |   Pages: 300   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Growth in health, fitness and diet consciousness among consumers is likely to augment market demand

Plant milk market size exceeded USD 12 Billion in 2019 and is estimated to achieve over 11% CAGR between 2020 and 2026. Rising consumer awareness about vegan diet and health benefits associated with them is propelling the market growth.
 

Plant milk market
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Plant milk is extracts from sources such as soy, almonds, coconuts, oats, rice is a best alternative for dairy milk and other animal milk present in the market. Due to its high nutritional values and rich in vitamins, minerals, carbohydrates and proteins plant milk is widely accepted among consumers. It has various applications in food and beverage, dairy industry and cosmetic industry. Owing to, growing awareness towards plant milk and its nutritional values is likely to propel the plant milk market demand during forecast period.
 

Plant base milk has wide application in food and beverage industry. It is used for flavoring and aroma in various products. It includes nutrients such as calcium, essential minerals and Omerga-3 fatty acid and vitamins like A, D and B12. Due to its high demand among consumers would like to boost the market outlook. In addition, lactose intolerance among infants is one of the major factors to propel the market growth of plant base milk. It can cause various symptoms, including bloating, diarrhea and abdominal cramps as dairy milk contains high proportion of lactose as compared to plant base milk, will propel the industry outlook.
 

Plant base milk is popular among consumers, owing to, increasing health and wellness concern, awareness about overweight and diabetic diseases, which will further encourage the adoption of non-dairy substitutes over dairy products. Additionally, most of the population shifting to vegan diet pattern, as it controls heart diseases, promote weight loss, lowering the chances of cancer and manage diabetes by lowering A1C levels. This will further boost the plant milk market demand.
 

Plant milk is costly as compare to dairy milk which may restrain the industry growth during the forecast period. Additionally, some of the plant-based milk products are relatively calcium, low in proteins or Vitamin D which is important for health and contains low level of arsenic which is not suitable to children. Another challenge faced by plant-based milk providers is the stringent regulatory policy and inspection, regular changes in food safety standards will restraining the market trends.
 

Plant Milk Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 12 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 11% 2026 Value Projection: 21 Billion (USD)
Pages: 300 Tables, Charts & Figures: 313
Geographies covered (23): U.S., Canada, Germany, UK, France, Italy, Netherlands, Poland, Ireland, China, India, Japan, Hong Kong, Singapore, Australia, Malaysia, Thailand, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Source, Formulation, Sales Channel, Packaging
Companies covered (15): Archer Daniels Midland (ADM), Danone, Daiya Foods, Hain Celestial Group, WhiteWave Foods, Blue Diamond Growers, SunOpta, Freedom Foods, Eden Foods, Nutriops SL, Earths Own Food Company, The New Barn, Califia Farms, Malk Organics, Ripple Foods, DREAM
Growth Drivers:
  • Rising demand for milk alternatives
  • Growth in consumer preference for a vegan diet
  • Nutritional benefits offered by plant-based dairy alternatives
  • Increase in cases of lactose intolerance and milk allergies
Pitfalls & Challenges:
  • Fluctuating raw material prices

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High nutritional vales such as rich in vitamin A, D, B12, calcium and less fat content along with easy availability of soy milk will foster market share

Plant Milk Market

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Global plant milk market from soy is likely to register more than 11% CAGR through 2026 On the basis of source, soy milk is having the highest market share and is the first preference of the consumers due to its health benefits, great taste and variety of flavors available in the market. Whereas, on the other hand the market share of almond milk is growing steadily at a market share almost of 40% because of the low-fat concentration and flavors.
 

Rapid consumer awareness related to sugar free and gluten free unsweetened milk will foster the market statistics

 Plant Milk Market

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Global plant milk market from unsweetened formulation is likely to surpass USD 12 billion by 2026 owing to rising awareness towards sugar free and gluten free product .consumption of sugar free milk keeps diabetic health stable and protect from cardiac disease thereby fueling the market forecasts during forecast period.
 

Unsweetened plant milk has a super clean taste and smooth texture that blends seamlessly with various food and beverages. Consumers prefer dairy-free, gluten free, and naturally sugar free also it has 50% more calcium than regular dairy milk which will propel the market share of unsweetened-based plant milk market.

 

Increasing awareness towards nutritional benefits of plant milk and vegan diet trend among consumers will boost North American market share

  North America Plant Milk Market

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North America plant base milk market size should surpass USD 6 billion by 2026, owing to increasing consumers awareness related to benefits of consumption of plant base milk.  High nutritional values and vegan diet trend is one of the most popular among consumers which is further driving the market demand for plant base milk. In addition, rise in lactose intolerance and related disorders among consumers, will further boost the demand for plant milk from the U.S and Canada.

Rapid urbanization, increasing disposal income and diabetic population among consumers is likely to boost product demand. Also increase in cardiac diseases, diabetes, obesity and vitamins deficiency, are the important factors to lead the market demand among consumers.  Furthermore, increasing concern about food safety standards is one of the, major factor boosting the plant base milk market.
 

Plant milk distribution from mainstream store as a sales channel hold the maximum market share during forecast period.

Mainstream stores accounted around 79% of the market share in 2019. Rising convenience store across the globe due to increasing disposal income will propel the plant based market growth. Also, consumers preferred convenience shopping, this is major reason to drive the industry trends.
 

Carton packaging to propel the market statistics due to potential outlook for pack

Carton packaging accounted around 69% of the market share in 2019. According to research, rising demand for pack food products due to disposal income and urbanization will leads the carton packaging market growth. Also, package food is easy to carry for transportation with recycling properties will drive the demand. Moreover, consumers are attracted by fancy design packaging system which will have positive impact on the industry landscape.
 

Bottle packaging will witness over 11% CAGR through 2026. Government initiative towards sustainable packaging material will drive the demand for reusable and recycle food packing material over the forecast period. Increasing environmental concern regarding plastic disposal is one the major factor affecting the market growth of packaging materials.
 

New product development and strategic partnerships remain pivotal growth strategies

Global plant milk market is consolidated, and major players include Earth’s Own Food Company, Blue Diamond Growers, Danone S.A., Oatly AB, Califia Farms, Organic Valley, Campbell Soup Company, Elmhurst Milked Direct LLC,  Hain Celestial Group Inc., Ripple Foods. Companies are rapidly engaged in new product development, marketing and branding initiatives in a bid to improve brand equity and capture maximum market share.
 

In 2019, Earth’s Own Food Company Inc. successfully expanded its plant-based beverage line-up to a new delicious flavor, Chocolate Oat. The product is readily available across retailers in order to meet the changing demand of the consumers.
 

In 2019, a major manufacturer of plant milk, Blue Diamond Growers join forces with Grupo Lala S.A.B. da C.V., in order to expand its sales and distribution channels of almond-based beverages in Mexico.
 

The Plant Milk market research report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Million Liters) and revenue (USD Million) from 2015 to 2026, for the following segments:

By Source

  • Almond
  • Soy
  • Coconut
  • Rice

By Formulation

  • Sweetened
  • Unsweetened

Sales Channel

  • Mainstream Stores
  • Specialty Stores
  • Online Natural Food stores
  • Others

by Packaging

  • Carton Packaging
  • Bottles
  • Pouches

The above information has been provided for the following regions:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Denmark
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Malaysia
    • Thailand
  • Latin America
    • Brazil
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

Global market demand for plant milk recorded more than US$12 billion in 2019 and is estimated to attain more than 11% CAGR up to 2026 with the widespread awareness regarding the nutritional benefits of vegan diet.
The soy-based plant milk industry size is anticipated to register over 11% CAGR by 2026 as consumers are increasingly preferring soy milk for its health benefits, availability in an assortment of flavors and great taste.
Plant milk industry trends from unsweetened formulation will surpass USD 12 billion between 2020 to 2026 owing to the awareness regarding the benefits of sugar-free milk among diabetic patients and its ability to prevent cardiac disease.
Plant milk market in North America is projected to reach a valuation of over USD 6 billion by 2026. Due to the trend of adopting a vegan diet and products with high nutritional values.

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Premium Report Details

  • Published Date: Oct 2020
  • Pages: 300
  • Tables: 302
  • Charts / Figures: 11
  • Companies covered: 15
  • Countries covered: 23

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