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

Plant Milk Market Size

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.
 

To understand key trends  
Download Free Sample
 

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 Analysis

To understand key market trends  
Download Free Sample
 

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.
 

To understand key market trends  
Download Free Sample
 

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.

To understand regional trends  Download Free Sample
 

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.
 

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 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.
 

Plant Milk Market Share

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:

Click here to Buy Section of this Report

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