Global Plant-based Milk Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights

The Global Plant-based Milk Market was estimated at USD 13 billion in 2021 and is expected to reach USD 15 billion in 2022 and is anticipated to reach around USD 30 billion by 2030, growing at a CAGR of roughly 9% between 2022 and 2030.

Our research report offers a 360-degree view of the Plant-based Milk market's drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Plant-based Milk market.

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The Plant-based Milk Market: Overview

Given the rising prevalence of hypercholesterolemia among consumers, greater lactose intolerance, and worries about calories, plant-based milk is considered the ideal milk substitute for dairy beverages.

Additionally, a growing inclination for vegan diets drives customers to select cow milk alternatives. To draw in more customers, food and beverage producers are also developing novel and unique items using plant-based sources.

The Plant-based Milk Market: Growth Factors

With the ongoing demand from customers for products to be reformulated without synthetics and artificial additives, the clean label trend is not showing any signs of slowing down. The usage of plant-based milk is anticipated to increase as the demand for "clean label" products keeps rising.

Suppliers want to capitalize on this trend as millennials and others of Generation Z look for sustainable, healthful plant-based replacements to traditional necessities like milk. Plant-based milk has become increasingly popular due to the sharp increase in demand for plant-based protein sources.

Particularly among millennials, who comprise a sizeable portion of the consumer population, interest in veganism is rising. For competitors in the market for plant-based milk, this has presented growing potential.

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The prevalence of lactose sensitivity has prompted people to choose alternatives that don't contain dairy. Governments and health organizations have made a number of recommendations aimed at managing lactose intolerance effectively, one of which is to choose lactose-free milk and dairy products, hence fostering the market for plant-based milk.

Even while plant-based milk is becoming increasingly popular with health-conscious customers, the relatively lower protein level in these dairy substitutes is expected to impact the product's overall consumption.

Another difficulty for producers of plant-based milk is the time-consuming legal and regulatory inspection procedure, as industry associations forbid producers from using labeling that can mislead customers about the product's nutritional content.

The Plant-based Milk Market: Competitive Landscape

Product releases have become the dominant tactic used by market players. The market for plant-based milk is projected to see more product introductions as a result of the intense rivalry that is expected to arise.

Press Release For Plant-based Milk Market: https://www.custommarketinsights.com/press-releases/plant-based-milk-market-share/

This report includes a thorough study of the company profiles, including business segments, product portfolios, insights into key brands and growth strategies, SWOT and strategy analyses of the firms, as well as financial analysis and analyst insights on the major players in this market.

• 2021: Alpro, a Danone-owned company, revealed its newest investment for its UK production in Kettering. The company wants to improve its sustainability credentials while increasing the production capacity of its plant-based products for UK consumers.
• 2021: For a total estimated value of US$ 33 Mn, SunOpta announced that it had purchased the non-dairy beverage brands from the Hain Celestial Group in North America. The purchase of two plant-based beverage brands, Dream and WestSoy, was part of this acquisition.

The Plant-based Milk Market: Prominent Players

Groupe Danone.
The Hain Celestial Group Inc.
Pacific Foods of Oregon, Inc.
Vitasoy International Holdings Limited.
Turtle Mountain LLC.
Natura Foods, Sunopta Inc.
Alpina Foods.
Freedom Foods Group Ltd.
Mc Cormick & Co., Goya Foods.
Earth's Own Food Company Inc.
The Hershey Company.
The Bridge s.r.l. Kaslink Foods Oy Ltd.
Edward & Sons.
Blue Diamond Growers, Inc.
Chef's Choice Food Manufacturer Company Limited.
Liwayway Holdings Company Limited.
Others

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The Plant-based Milk Market: Segments

By Type

Soy Milk
Oat Milk
Coconut Milk
Almond Milk
Rice Milk
Others

By Form

Liquid
Powder

By Flavor

Unflavored
Flavored

By End-use

Infant Formula
Dairy Products
Bakery & Confectionary
Others

By Distribution Channel

Direct
Indirect

The Plant-based Milk Market: Regions

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

Check Out Some of Our Other Reports:

Global Cultured Meat Market: https://www.custommarketinsights.com/report/cultured-meat-market/
Global Pea Protein Market: https://www.custommarketinsights.com/report/pea-protein-market/
Global Raisins Market: https://www.custommarketinsights.com/report/raisins-market/
Global Peanut Butter Market: https://www.custommarketinsights.com/report/peanut-butter-market/
Global Apricot Market: https://www.custommarketinsights.com/report/apricot-market/

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Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.

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This release was published on openPR.