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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The plant-based milk market is estimated to reach at a value of US$ *** Mn by the end of 2022 and expected to reach at a value of US$ *** Mn by 2030 with a significant CAGR of ***%.
The base year for the report is 2021 in plant-based milk market.
The global plant-based milk market is segmented on the basis of category, form, source, product type, flavor type, end use, and region.
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.