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Plant-based Milk Market Size to Boost US$ 1.49 Bn by 2025| CAGR 5.9% | Sunopta Inc, Goya Foods, Blue Diamond Growers, Inc
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From 2016 to 2020, the plant-based milk market grew at a CAGR of 7.2%. Sales of plant-based milk are influenced by a number of variables, including rising consumer health consciousness and the ongoing popularity of non-dairy and plant-based beverages. An growing subcategory of functional beverages is plant-based milk.
Due to rising lactose intolerance, calorie concerns, and the high frequency of hypercholesterolemia among consumers, plant-based milk is also recognised as the ideal milk substitute for dairy beverages. Additionally, a growing inclination for vegan diets is driving customers to select alternatives to cow milk. To draw in more customers, food and beverage producers are also developing novel and unique items using elements from plants.
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Country-wise Insights
Why is Germany a Leading Market for Plant-based Milk in the European Region?
The plant-based milk market is set to witness significant growth in Germany at a value CAGR 8.2%. Demand for plant-based milk in Europe is increasing at a significant rate, which provides a favourable growth opportunity for plant-based milk product manufacturers.
Which Country is Propelling the East Asia Market for Plant-based Milk?
China holds a high share in the East Asian plant-based milk market. This is mainly because of the high health and nutritional benefits of plant-based milk. Also, rising demand for convenient foods and high presence of plant-based milk products with high nutrition in the food & beverage industry will have a positive impact on market growth in China, which is predicted to surge at a CAGR of 10.7% through 2031.
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Plant-based Milk Market Industry Research by Category
Plant-based Milk Market by Type:
Soy Milk
Almond Milk
Coconut Milk
Rice Milk
Oat Milk
Others
Plant-based Milk Market by End Use:
Food & Beverage Industry
Bakery & Confectionery
Dairy & Desserts
Infant Formula
Retail/Household
Foodservice Industry
Plant-based Milk Market by Distribution Channel:
Business to Business Sales of Plant-based Milk
Business to Consumer Sales of Plant-based Milk
Hypermarkets/Supermarkets
Convenience Stores
Specialty Stores
Online Retail
Plant-based Milk Market by Region:
North America Plant-based Milk Market
Latin America Plant-based Milk Market
Europe Plant-based Milk Market
East Asia Plant-based Milk Market
South Asia Plant-based Milk Market
Oceania Plant-based Milk Market
Middle East & Africa Plant-based Milk Market
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About Food & Beverage Division at Persistence Market Research
The Food & Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfil the unique business intelligence needs of clients worldwide. With a catalogue of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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