Plant-Based Milk Market to Showcase Sky Rocking Growth at a CAGR of 15.5% from 2022 to 2029 | Bayer AG (Germany), Abbott (U.S.), DSM (Netherlands), DuPont. (U.S.), Amway (U.S.), The Nature's Bounty Co. (U.S.)

Data Bridge Market research has recently released expansive research titled "Global Plant-Based Milk Market" guarantees you will remain better informed than your competition. This study provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. Plant-Based Milk market research report is composed of myriad of factors that have an influence on the market and include industry insight and critical success factors (CSFs), market segmentation and value chain analysis, industry dynamics, market drivers, market restraints, key opportunities, technology and application outlook, country-level and regional analysis, competitive landscape, company market share analysis and key company profiles. In addition, businesses can gain insights into profit growth and sustainability programme with this report. Business intelligence is an essential aspect when it comes to accomplish thorough and wide-ranging market insights and the same is applied for producing Plant-Based Milk market report.

Data Bridge Market Research analyses that the plant-based milk market was valued at USD 38.90 billion and is expected to reach the value of USD 123.20 billion by 2029, at a CAGR of 15.5% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Market Analysis and Size

Dairy consumption in some categories has declined over the last two decades, as consumers respond to concerns about hormone usage, allergens, and the perceived unhealthy profile of some dairy offerings, which was once regarded as an essential component of a balanced diet in several cultures. This has altered the global landscape for dairy producers, as they strive to keep up with changing consumption attitudes and regional differences in consumer attitudes, while capitalising on potential opportunities in dairy product consumption. Plant-based milk, for example, has a perceived health halo among consumers, capturing the attention of dairy product providers.

Plant-based milk is made from almond, hemp, coconut, rice, cereals, nuts, and soy plants and provides several health benefits to consumers when 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-Based Milk Market Dynamics

Drivers

Rising prevalence of chronic lifestyle diseases and intolerance to dairy milk
One of the key factors driving market growth is the rising prevalence of chronic lifestyle diseases and intolerance to animal protein. Furthermore, the widespread adoption of vegan eating habits around the world is propelling market growth. With rising consumer awareness of animal health and the rise in lactose intolerants around the world, there is a shift in global preference for plant-based milk products. As a result, the market has a more positive outlook.

Rise in social media marketing

Furthermore, developing novel products, such as plant-based milk, eggs, and meat, stimulates growth. These products are high in essential nutrients and taste almost identical to their animal-derived counterparts. Other factors, such as extensive promotional activities by celebrities and athletes to encourage the consumption of vegetarian products in order to maintain a healthy lifestyle and the ease of product availability via proliferating online retail channels, are expected to drive the market even further.

Opportunity

Lactose intolerance is one of the most recent opportunities for a global market. The vast majority of the world's population will remain lactose intolerant. This segment of the global population will always require a lactose-free alternative, which the plant-based milk industry can provide. Another possibility is the sustainable living movement, which advocates for climate and animal safe milk. As people make more environmentally conscious choices to reduce their domestic carbon footprint, the global market is paying close attention to an excellent opportunity for plant-based milk market.

Key Market Players mentioned in this report:

Bayer AG (Germany)
Abbott (U.S.)
DSM (Netherlands)
DuPont. (U.S.)
Amway (U.S.)
The Nature's Bounty Co. (U.S.)
GlaxoSmithKline plc. (U.K.)
Nestlé SA (Switzerland)
RiceBran Technologies (U.S.)
Mead Johnson & Company, LLC. (U.S.)
Premier Nutrition Corporation (U.S.)
U.S. Spice Mills, Inc. (U.S.)
Health Milk Manufacturers' Association (U.K.)
Glanbia PLC (Ireland)
Herbalife International of America, Inc. (U.S.)
Bionova (India)

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