Supermarket shelves with alt milk courtesy ProVeg

Image courtesy ProVeg

Market & Trends

Plant-Based Milk Market to Be Worth $51.87Bn by 2032, Dominated by North America

According to a report by The Brainy Insights, the global plant-based milk market will be worth $51.87 billion by 2032, up from $20 billion in 2022. Key drivers will include the growing popularity of vegan diets, high rates of lactose intolerance, and sustainability concerns associated with dairy production. North America currently dominates the market, with a 38% share; it is expected to retain the largest market share over the forecast period. The promotion of plant-based diets on social media, along with health concerns and high rates of dairy allergies, will help to boost sales in the region. Furthermore, there is a huge range of milk alternatives available in North America, catering to a variety of tastes. The products are widely available in grocery stores, making …