Plant Milk Market to Reached Higher by 2027, Globally | CAGR: ~10% | Industry Overview by Top Players - Groupe Danone, Pacific Foods of Oregon, Inc., The Hain Celestial Group Inc., Turtle Mountain LLC, Vitasoy International Holdings Limited., Natura Foods

A comprehensive overview of the Plant Milk market is recently added by UnivDatos Market Insights to its humongous database. The Plant Milk report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Plant Milk market. The Plant Milk report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Plant Milk at the global and regional levels. The Plant Milk Market is expected to grow at a CAGR of around 10% from 2021-2027.

Market Overview
A surge in the end user's disposable, increasing lactose intolerance, allergy from animal milk allergy among consumers are some of the prominent factors due to which the demand for plant milk is on the rise. An estimated 75% of the world's population is intolerant to lactose, the sugar found in milk. Also, 2-3% of kids under the age of three are allergic to cow's milk. According to the U.S. National Library of Medicine, roughly two in three adults can't fully digest lactose & when lactose intolerant people consume products that contain this sugar, they experience a variety of uncomfortable symptoms. Therefore, consuming a lactose-free alternative enables them to keep dairy in their diet without causing their bodies distress.

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A rise in the GDP per capita is a factor that is impacting the demand for Plant Milk across the globe. For instance, as per the World Bank, GDP per capita worldwide increased from US$ 10,249 in 2015 to US$11,433 in 2019. A rise in GDP per capita signifies the increased standard of living. So, consumers in the developed and developing countries where per capita income is witnessing a rise can think of spending more on their health and diet, which is creating the demand for Plant Milk.

COVID-19 Impact
Earlier, the market was too restrictive, but due to this outbreak, regulations are relieved temporarily. The government of some countries did relaxation regulatory requirements placed on alternative proteins, mainly for plant-based protein products. For instance, the FDA has relaxed its guidelines for selling plant-based meat products in the market. Earlier, the FDA did not allow direct-to-consumer sales of Impossible's raw plant-based meat burgers, due to labeling concerns.

According to data released from PBFA and SPINS, the growth of U.S. retail sales of plant-based foods has outpaced the growth of total food sales during the pandemic, demonstrating that more consumers are turning to plant-based foods amid the crisis (PBFA 2020). In mid-March, plant-based foods were up 90% compared with sales last year. Throughout the four weeks following peak panic buying, total plant-based food sales grew 27%, which is 35% faster than total retail food.

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The Plant Milk Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Nature, the market is primarily bifurcated into
• Organic
• Conventional

The conventional Milk segment gathered a major market share of Plant Milk in 2020 and grabbed XX% market share. However, organic milk is expected to witness an exhibit growth during the forthcoming years proliferating owing to the Increased disposable income and rising awareness about health benefits. organic food has become a staple in local health food stores and most grocery stores. Almost all food stores now carry a special section of natural and organic food.

By Formulation, the market is primarily bifurcated into
• Regular
• Flavored

The flavored milk segment grabbed XX% market share. flavored milk receives the highest palatability rating among children. Children drink more flavored milk than plain milk and, when flavored milk is not available, children drink less plain milk and, consequently, less milk overall. Consumers of flavored milk have a higher total milk intake.

Plant Milk Market Geographical Segmentation Includes:
• North America
• Europe
• Asia-Pacific
• Rest of the World

Based on the estimation, the Asia-Pacific region grabbed a major market share in 2020. An increase in disposable income among consumers coupled with the rising awareness about the health benefits in the region is leading to the growth of the market. By 2030, China and India together will represent 66% of the global middle-class population and 59% of middle-class consumption.

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The major players targeting the market includes
• Groupe Danone
• Pacific Foods of Oregon, Inc.
• The Hain Celestial Group Inc.
• Turtle Mountain LLC
• Vitasoy International Holdings Limited.
• Natura Foods
• Freedom Foods Group Ltd.
• Earth's Own Food Company Inc.
• Mc Cormick & Co.
• The Hershey Co.

The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Plant Milk market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Plant Milk Market?
• Which factors are influencing the Plant Milk market over the forecast period?
• What are the global challenges, threats, and risks in the Plant Milk Market?
• Which factors are propelling and restraining the Plant Milk Market?
• What are the demanding global regions of the Plant Milk Market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

Contact
UnivDatos Market Insights
Pawnendra Pawan
Client Development Lead
Ph: +91-7838604911
Email: pawnendra@univdatos.com
Website: https://univdatos.com/

About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

This release was published on openPR.