Global Plant-Based Milk Market – Industry Trends and Forecast to 2028

Global Plant-Based Milk Market – Industry Trends and Forecast to 2028

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Plant-based milk is made from almond, hemp, coconut, rice, cereals, nuts, and soy plants and provides several health benefits to consumers when compared to dairy milk. They are widely used in beverages, milk, cheese, and ice cream and provide nutrients like protein, fat, vitamins, and carbohydrates.

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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.

Global Plant Milk Market was valued at USD 13.79 Billion in 2021 and is expected to reach USD 32.25 Billion by the year 2028, at a CAGR of 11.2%.

The global Plant Milk market provides qualitative and quantitative information on the growth rate, market segmentation, market size, future trends, and regional prospects. The research study represents a modern perspective aimed at securing the future potential of the Plant Milk market. This report analyzes and evaluates the latest prospects for the new retail space, as well as the general and future market performance of Covid-19. In addition, this report provides a detailed overview of competition between some industries and others.

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 The Major Players Covered in this Report:

·         Pacific Foods and Oregon

·         SunOpta

·         Earths Danone

·         Hain Celestial

·         Vitasoy

·         Freedom Nutritional Products

·         McCormick and Company

·         Goya Foods

·         Blue Diamonds Growers

·         Chefs Choice Foods Co. Ltd.

·         Oishi

·         Earth’s Own Food Company

·         Oatly AB

·         Califia Farms

·         Ripple Foods

·         Elmhurst Milked Direct LLC.

 By Type, Plant Milk has been segmented into:

·         Coconut

·         Soy

·         Almond

·         Rice

·         Oat and others

 By Application, Plant Milk has been segmented into:

·         Food and Beverage Industry

·         Household

·         Hotels and Restaurants

·         Others

Market Segment by Regions and Countries Level Analysis:

·         North America (U.S., Canada, Mexico)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)

·         Middle East & Africa (GCC Countries, South Africa, Rest of MEA)

·         South America (Brazil, Argentina, Rest of South America)

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Covid-19 Impact and Recovery Analysis on Industry:

We've kept track of Covid-19's direct impact on this market as well as its indirect impact on other industries. During the analysis period, the impact of the Covid-19 pandemic on the market is predicted to be significant. From a worldwide and regional viewpoint, this report examines the influence of the pandemic on the Plant Milk industry. The study categorizes the Aerospace Carbon Fiber industry by type, application, and consumer sector to determine market size, market features, and market growth. It also includes a thorough examination of the factors that influenced market development before and after the Covid-19 pandemic. In addition, the research did a pest analysis in the sector to investigate major influencers and entrance obstacles.

Key Industry Developments

·         In November 2020, SunOpta declared its investment into a Minnesota-based oat processing unit with around USD 26 million. This will help to meet the growing demand for oat milk in the US. The Minnesota unit would produce an oat base milk, ice cream, and yogurts.

·         In October 2019, Blue Diamond Growers added its Breeze products with the leading Latin American beverage, Almond Breeze Almond Milk Mexican Chocolate. The new product is the best option for consumers for dairy product substitutes

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