DUBLIN–(BUSINESS WIRE)–The “Global Plant-Based Milk Market Outlook, 2026” report has been added to ResearchAndMarkets.com’s offering.
Global climatic changes, increasing deforestation, lactose intolerance, gastric problems, indigestion and animal cruelty has led to a push to the vegan or plant based food products. Given this reasons, increasingly people around the globe are turning vegetarian, vegan, or even flexitarian. The vegan trend is in the air, due to its large presence over various social media platforms over the internet. It plays a pivotal role in luring the young demographics to turn to plant based milk.
The plant based milk market is expanding speedily and is forecast to reach revenue of USD 25 Billion by the end of forecast period. The global plant based milk market is three times more than plant based meat market, which is prudent that plant based milk market is a matured market.
The Asia Pacific milk market has an exorbitant percentage in the Global Plant Based Milk Market as it is an agricultural land. By value, the plant based milk market is 50% to 60% of the Global Dairy Alternative Market. Soy milk is one of the oldest plant based milk and so it is widely available and has massive acceptance globally. Whereas, Almond milk has recently captivated, vital reason being soy milks allergenic property.
The report analyses influential trends that are currently determining the growth of the market. It further, interprets important dynamics, such as the drivers, restraints, and opportunities for key market players and also the new entrants with the manufacturing of the plant based milk market. The analyses also state the upholding of the future status of the plant based milk market over the forecast period. A detailed overview of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the plant based milk market, along with their product portfolios, enhances the reliability of this extensive research study.
A growing number of the population is turning vegan and the 2020 statistics shows there are 5% vegans, 20% flexitarian and 11% vegetarians around the globe. People in the western countries are more inclined towards plant based milk than the developing countries. Widespread awareness of consuming plant based foods and its positive impacts on health are a major driver for this market. Obesity is on the rise, globally irrespective of varied food cultures in different regions of the world. Plant based milk provides more energy, improves health, balances body weight and adds flavour to milk.
The Middle East & Africa plant based milk market is in its nascent stage and so is an emerging market during the forecast period. Oat milk has paved its way to become one of the fastest growing markets during the forecast period with a power to cross over 10% market share globally. The other types of milk like Cashew milk, Hazelnut milk are also gaining traction in the market, as consumers are always on a spur to taste new variants. The flavoured plant based milk market is expected to grow enormously, as manufacturers are bringing new flavours on the shelf like Berry, Hazelnut, Coffee, Mocha and Coconut. While, Chocolate, Vanilla and Strawberry are well established and have succeeded in capturing majority of the market share.
Online sales of plant based milks is rapidly expanding as they offer discount schemes and free home delivery options. Today’s busy consumers want to enjoy the easy accessible shopping through their luxury home space. Many one-stop shops have put themselves on the web to ease the purchasing process for the consumers. Leading supermarket chains have their own online shopping apps which further paves the market to succeed.
Considered in this report
- Geography: Global
- Base year: 2020
- Estimated year: 2021
- Forecast year: 2026
Aspects covered in this report
- Global plant based milk market with its value and forecast along with its segments
- Region-wise plant based milk market analysis
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
Regions covered in the report
- North America
- Latin America
- Middle-East & Africa
Types of milk in the report
- Soy milk
- Almond milk
- Coconut milk
- Rice milk
- Oat milk
- Other milk (Cashew, hazelnut, other)
Type of milk by formulation:
- Plain milk
- Flavoured milk
Type of milk by flavour:
- Others (Coffee, coconut, mocha)
By Sales Channel:
- Convenience Stores
- Others (Airports, gas station, Cafes, Health shops)
- Kerry Inc.
- Califia Farms
- Kite Hill
- Ripple Foods Inc.
- Elmhurst Milked Direct LLC
- Pacific Foods of Oregon, LLC
- The Dohler Group
- SunOpta Inc.
- The WhiteWave Foods Company
- The Hain Celestial
- Daiya Foods Inc
For more information about this report visit https://www.researchandmarkets.com/r/dv40ve
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