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Plant Milk Market to Witness Huge Growth by 2024 | Leading Key Players: Ripple Foods, Danone, Archer-Daniels-Midland, WhiteWave Foods, Califia Farms, Hain Celestial Group

08-03-2018 07:28 AM CET | Health & Medicine

Press release from: marketstudyreport.com

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Plant Milk Market to Witness Huge Growth by 2024 | Leading Key

The newly released research at Market Study Report titled “2017-2024 Global Plant Milk Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.

Plant Milk Market is estimated to exceed USD 21 billion by 2024; according to a new research report.

Growing vegan population resulting in high demand for dairy alternatives is driving plant milk market growth. Improved taste and flavor along with long shelf life is anticipated to fuel the business penetration. Initiatives for reduction of nitrous oxide and methane (greenhouse gas) produced by diary industry, deteriorating environment will stimulate plant milk market share from 2017 to 2024.

North America plant milk market accounted for over 25% share in 2016. Higher incidence of lactose intolerance in Hispanic and Asian-American populations in the U.S. is major driving force for the plant milk market growth. According to National Institute of Children's Health & Human Development, in the U.S. around 30-50 million people are lactose intolerant. Rise in the number of dairy alternative including soy, almond, coconut and rice will fuel the overall revenue generation. Ongoing launch and projects in pipeline for a range of enhanced blends and flavors of non-dairy beverages from different sources are among key factors driving industry growth of plant milk market.

Rising threats pertaining to saturated fat levels, hormone content, antibiotics used in dairy cows has diverted consumers preference to dairy alternatives. Growing health concerns regarding diabetes and allergies has encouraged the consumers to adopt dairy alternative products. According to International Diabetes Federation and the U.S. Census Data, in the U.S., 37 million people have diabetes and 1.26 million people have a milk allergy.

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Mainstream stores accounted nearly 80% of the industry share in 2016. Growing disposable income and numerous value-added services offered by the modern retail outlets, substituting the conventional unorganized retailers is driving the product demand. Convenient locations, one-stop shopping, extended hours of operation, variety of merchandise, grab-and-go service and fast transactions are some of the key factors stimulating industry growth.
Unsweetened formulation will witness gains exceeding 12.5% up to 2024. Increasing demand for dairy alternative product made from plain milk including desserts, yogurt and cheese drives the demand for unsweetened plant milk formulation. Convenience regarding addition of preferred quality and amount of sweetener owing to various health concerns by individuals will further propel the product demand.

Carton packaging accounted for over 65% of plant milk market share in 2016. Increased innovation in production of varied range of carton packaging offering barrier from UV radiations, moisture and harmful gases & odor will stimulate industry growth of plant milk market. Eco- friendly and recyclable properties exhibited by carton packaging will fuel product demand.

Global industry share is highly fragmented owing to presence various local and international vendors. Some of the key players include Ripple Foods, Danone, Archer-Daniels-Midland, WhiteWave Foods, Califia Farms, Hain Celestial Group, Daiya Foods and Freedom Foods. Key players are capitalizing in innovation with new flavors and natural sweeteners to support stronger growth of the plant milk market.

Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/716662/

Table of Content:

Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Plant milk industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Source trends
2.1.3. Sales channel trends
2.1.4. Formulation trends
2.1.5. Packaging trends
Chapter 3. Plant Milk Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Raw material suppliers
3.3.2. Manufacturers
3.3.3. Distribution channel analysis
3.3.4. Profit margin trends
3.3.5. Vendor matrix
3.3.5.1. Key player’s role
3.3.5.2. Product portfolio
3.3.5.3. Global presence
3.4. Technology landscape
3.5. Regulatory landscap
3.5.1. U.S.
3.5.2. Europe
3.5.3. China
3.5.4. MEA
3.5.5. Australia
3.6. Industry best practices & key buying criteria
3.7. Pricing analysis, by region
3.7.1. North America
3.7.2. Europ
3.7.3. Asia Pacific
3.7.4. Latin America
3.7.5. MEA
3.7.6. Cost structure analysis
3.8. Innovation & sustainability

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