Worldwide Plant Milk Market Brief Analysis By Top Key Players like Archer-Daniels-Midland, Danone, Daiya Foods, Hain Celestial Group, WhiteWave Foods, SunOpta, Blue Diamond Growers, Freedom Foods, Eden Foods, Nutriops SL & More

A controversial yet highly remunerative business vertical in itself, global plant milk market has, as on today, turned out to be one of the most popular spheres across the overall food and nutrition space driven by the ubiquitous fad of health consciousness. Having already garnered critical acclaim ever since its inception, plant milk market is fueled by the global trends of nutritious milk consumption, rising awareness of a healthy diet, and the increasing demand for dairy alternatives. The requirement of dairy alternatives can be primarily attributed to the fact that dairy products have been observed to have led to a spike in the prevalence of gastrointestinal diseases and diabetes. In accordance, plant milk alternatives such as soy, cashew, almond, and coconut have been flooding the market, the advertised benefits of which have made these products highly desirable, thereby increasing the commercialization scope of the overall plant milk market.

MarketStudyReport.com offers 2017 report on global Plant Milk market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2017-2024.

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.

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.

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Increasing health issues owing to the use of bovine growth hormone into cattle to boost milk production has significantly hampered dairy industry. This has resulted in its ban from countries including Canada, the European Union, Australia, New Zealand, Japan, and Israel, hence fueling dairy alternative market. However, claims regarding hampered child growth due to use of dairy alternative product owing to lack of nutritional value compared to cow milk will restrain product adoption among young children.

Coconut will witness significant growth at over 13% up to 2024. Increased demand for coconut milk owing to the health benefits provided by coconut compared to soy will drive the product demand. Presence of significant amount of lauric acid in coconut, which when converted to monolaurin provides antiviral, antifungal and antibacterial properties. These properties in turn help in destroying wide variety of disease causing organism enhancing product penetration.

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.

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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.

Table of Content:

Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Plant Milk Industry Insights
Chapter 4. Plant Milk Market, By Source
Chapter 5. Plant Milk Market, By Sales Channel
Chapter 6. Plant Milk Market, By Formulation
Chapter 7. Plant Milk Market, By Packaging
Chapter 8. Plant Milk Market, By Region
Chapter 9. Company Profiles

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Outer scope: The rising awareness regarding the advantages plant milks provide as opposed to dairy milk has led to an escalating demand for the former among health-conscious consumers, on the grounds of which numerous companies have shifted their principal product portfolio from dairy milk to plant milk. For instance, Elmhurst, a former dairy company, known for producing cow milk since nine decades, in 2017, decided to encompass a plant-based product range, and has launched four new vegan drinks based on cashew, walnut, oat, and peanut. Supposedly free from carrageenan, artificial flavors, gums, and other emulsifiers, these products are vegan, non-GMO, gluten-free, and kosher. Driven by the rising efforts of companies such as Elmhurst, that have ditched dairy to go plant-based, plant milk market is sure to attain further momentum in the years ahead.

Related Report:

United States Plant Milk Market Report 2018

In this report, the United States Plant Milk market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

https://www.marketstudyreport.com/reports/united-states-plant-milk-market-report-2018

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