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Plant-Based Milk Market Overview

The report is titled as ‘Plant-Based Milk Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Plant-Based Milk market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Plant-Based Milk market is expected to grow with significant rate in the near future.

In 2020, global plant-based milk market was valued at US$ XXX Mn and expected to grow significantly at a CAGR of XXX % over the forecast period

Plant-Based Milk Introduction

Plant based milk can be understood as a kind of plant beverage with a color similar to that of milk. 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. It is significant to note that plant-based beverages have been used up for centuries, with the name "milk-like plant juices", since the 13th century. In present times, they are oftentimes pertained to as alternative milk, plant-based milk, non-dairy milk or vegan milk.

Attributing to its higher nutritional values and rich in minerals, vitamins, proteins and carbohydrates, plant based milk is broadly recognized among consumers. It has several different applications in the dairy industry, food and beverage, and cosmetic industry. By virtue of rising awareness with regard to plant milk and its nutritional values among the consumers, the global plant based milk market is projected to grow significantly in the following years.

Plant-Based Milk Market Segmentation

The global plant-based milk market is segmented on the basis of category, form, source, product type, flavor type, end use, and region.

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

Flavoured

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

By Region

               North America

               Latin America

               Europe

               Asia Pacific

               Middle East

               Africa

Plant-Based Milk Market Key Players

Some of the key participating players in global Plant-Based Milk market 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

Mc Cormick & Co.

Natura Foods

Nutriops SL

Organic Valley.

Pacific Foods of Oregon, Inc.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Plant-Based Milk

Advantages of Plant-Based Milk

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.

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