The high nutrition value of plant milk and other major driving factors is expected to favor the rise in the global plant-based milk market
Reports and Insights has published a new report titled, “Plant-Based Milk Market: Opportunity Analysis and Future Assessment 2022-2030”
Global Plant-Based Milk Market, By Category (Organic, Conventional), By Form (Liquid, Powder), By Source (Fruits, Rice, Nuts, Soy, Others), By Product Type (Soy Milk, Almond Milk, Coconut milk, Cashew Milk, Hemp Seed Milk, Rice Milk, Oat Milk, Peanut Milk, Pea Milk, Hazelnut Milk, Macadamia Milk, Flax Milk, Walnut, Other Product Types (Spelt Milk, Banana, etc.)), By Flavor Type (Original/Unflavored, Flavored (Chocolate, Vanilla, Strawberry, Coconut, Mocha, Berry, Hazelnut, Other), By End-Use (Infant Formula, Dairy Products (Milk, Cheese, Yogurt, Butter, Spreads, Ice Cream, Frozen Dessert), Bakery & Confectionary, Milk & Milk-based Beverages, Retail Sales), By Sales Channel (Direct Sales, Indirect Sales (Modern Trade, Convenience Store, Departmental Store, Traditional Store, Specialty Store, Online Retailers), Other Sales Channel) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
As the plant-based ingredients market is flourishing at a rapid pace, plant-based milk is also gaining traction among consumers all around the world. Plant based milks are basically non-dairy beverages developed from a water-based plant extract for aroma and flavoring. Plant based milks are consumed as replacements to milk, and by and large offer a milky and buttery mouthfeel. There are roughly around 17 various kinds of plant milks; among which oat, almond, coconut, and soy are the biggest-selling all around the world.
The growing consumer awareness about vegan diet as well as health perks associated with the vegan diet is primarily boosting the growth of the global plant-based milk market. With the same token, there has been a soaring interest among consumers to mitigate their dietary intake of animal-based food products amid the growing focus on health, sustainability, and ethical concerns. As a consequence, the food industry is consistently working on novel plant-based ingredients that resemble most of the sensory and physicochemical attributes of animal-derived meals such as eggs, milk, and meat. Such factors are further projected to propel the demand of plant-based milk in the near future, consequently accelerating the growth of the global plant-based milk market in the forthcoming future.
Moreover, the plant-based milk is basically extracts from almond, soy, rice, oats, and coconuts which possess high nutritional values and is considerably rich in vitamins, minerals, carbohydrates and proteins, which is further estimated to attract a massive chunk of consumers worldwide. Therefore, the global plant-based milk market is expected to witness significant growth in the coming years.
Reports and Insights Study identifies some of the key participating players in the plant-based milk market globally are Groupe Danone, Alpina Foods, Blue Diamond Growers, Inc., Döhler GmbH, Earth’s Own Food Company Inc, Elden Foods Inc, Freedom Foods Group Ltd, Goya Foods, Hain Celestial Group, Inc, Kaslink Foods Oy Ltd, Living Harvest Foods Inc, Liwayway Holdings Company Limited, McCormick & Co., Natura Foods, Nutriops SL, Organic Valley., Pacific Foods of Oregon, Inc., among others.
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