Plant Milk Market Worth USD 32.25 Billion By 2028 With CAGR 11.2% - Exclusive Report By Introspective Market Research

Market Overview:

Global Plant Milk Market was valued at USD 13.79 Billion in 2021 and is expected to reach USD 32.25 Billion by the year 2028, at a CAGR of 11.2%.

Plant milk is a type of liquid obtained from various plants/trees such as almonds, coconut, hemp, rice, cereals, nuts, and soybean which provides several health benefits as compared to dairy milk. They are widely used in beverages, milk, cheese, and ice cream and provide nutrients like protein, fat, vitamins, and carbohydrates. Plant milk is affordable, convenient, desirable, nutritious, and sustainable for the consumer which boosts the plant milk market.

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Market Dynamics:

Driver:
The increasing incidence of chronic lifestyle illnesses and intolerance to animal protein are two major factors influencing market expansion. Additionally, the global acceptance of vegan eating practices is fostering market expansion. There is a movement in people's preferences for plant-based milk products worldwide due to increased consumer knowledge of animal health and the increase in people who are lactose intolerant globally. The market's outlook has improved as a result. Nowadays Demand for organic food and beverages increasing, and vegan food, and clean labeling food and beverages have been attracting consumers globally, resulting in demand for organic and plant-produced milk. This drive the demand in the market.

Opportunities:
One of the most recent market prospects is lactose intolerance. The vast majority of people on the planet will continue to be lactose intolerant. This group of people will always need a lactose-free substitute, which the plant-based milk sector can offer. The sustainable living movement, which supports animal-safe milk and the environment, is another option. The global market is paying particular attention to a fantastic opportunity for the market for plant-based milk as consumers become more ecologically conscious in an effort to lower their home carbon footprint. This is the opportunity for the future of the Plant Milk Market.

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Market Segmentation

By Type
• Coconut
• Soy
• Almond
• Rice
• Oat
• Others

By Application
• Food & Beverage Industry
• Household
• Hotels and Restaurants
• Others

By Nature
• Organic
• Conventional
• Others

By Distribution Channels
• Specialty Store
• Supermarket/Hypermarket
• Online
• Others

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Regional Analysis:
Asia pacific dominates the plant milk market, owing to availability of raw material, an increasing demand for lactose free milk, high population and preference for veganism. In addition, rising the awareness about organic and plant-based food also helps to growth in this region after pandemic.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Plant Milk Market are:
• Pacific Foods and Oregon
• SunOpta
• Earths Danone
• Hain Celestial
• Vitasoy
• Freedom Nutritional Products
• McCormick and Company
• Goya Foods
• Blue Diamonds Growers
• Chefs Choice Foods Co. Ltd.
• Oishi
• Earth's Own Food Company
• Oatly AB
• Califia Farms
• Ripple Foods
• Elmhurst Milked Direct LLC And Other Major Players.

Key Industry Developments

In November 2020, SunOpta declared its investment into Minnesota based oat processing unit with around USD 26 million. This will help to meet the growing demand for oat milk in the US. The Minnesota unit would produce an oat base milk, ice-cream, and yogurts.

In October 2019, Blue Diamond Growers added its Breeze products with leading Latin American beverage, Almond Breeze Almond Milk Mexican Chocolate. The new product is best option for consumer for dairy product substitutes.

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Table Of Content: -
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Application
 3.3 By Nature
 3.4 By Distribution Channels

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Plant Milk Market by Type
 5.1 Plant Milk Market Overview Snapshot and Growth Engine
 5.2 Plant Milk Market Overview
 5.3 Coconut
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Coconut: Grographic Segmentation
 5.4 Soy
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Soy: Grographic Segmentation
 5.5 Almond
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Almond: Grographic Segmentation
 5.6 Rice
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size (2016-2028F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Rice: Grographic Segmentation
 5.7 Oat
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size (2016-2028F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Oat: Grographic Segmentation
 5.8 Others
  5.8.1 Introduction and Market Overview
  5.8.2 Historic and Forecasted Market Size (2016-2028F)
  5.8.3 Key Market Trends, Growth Factors and Opportunities
  5.8.4 Others: Grographic Segmentation

Chapter 6: Plant Milk Market by Application
To Be Continue…

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