Plant-Based Milk Market 2024 Forecast: Industry Scope, Growth Opportunities through 2031 - Mc Cormick & Co., Goya Foods, and The Hershey Company.

Plant-Based Milk Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Plant-Based Milk market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Plant-Based Milk market from 2024 to 2031, and what is the market value expected to change by 2031?

Global Plant-based Milk Market reached USD 18.6 billion in 2022 and is expected to reach USD 38.4 billion by 2030 growing with a CAGR of 9.5% during the forecast period 2024-2031.

What is Plant-Based Milk Market?

Plant-based milk refers to non-dairy beverages made from various plant sources, including nuts, seeds, grains, and legumes. Common types include almond, soy, oat, coconut, and rice milk. These alternatives are often fortified with vitamins and minerals to enhance their nutritional profile, making them suitable substitutes for cow's milk. The rise in demand for plant-based milk is driven by factors such as lactose intolerance, vegan diets, and health consciousness, with consumers seeking alternatives that are lower in calories and fat compared to traditional dairy products. The market continues to grow, with innovations in flavors and formulations catering to diverse consumer preferences.

Key Players:

Profiles of some of the major players in the global Plant-Based Milk market, which include:

Groupe Danone, Pacific Foods of Oregon, Inc., The Hain Celestial Group Inc., Turtle Mountain LLC, Vitasoy International Holdings Limited, Natura Foods, Sunopta Inc., Freedom Foods Group Ltd., Earth's Own Food Company Inc., Mc Cormick & Co., Goya Foods, and The Hershey Company.

Industry Development:

In February 2023, Silk Nextmilk launched a fresh campaign aimed at inspiring the next generation of milk drinkers and plant-based enthusiasts. This innovative beverage is designed to taste like traditional milk while being made entirely from plants and containing 75% less sugar. The campaign highlights Silk's commitment to providing delicious and healthier alternatives to dairy, appealing to both existing plant-based consumers and those looking to reduce their sugar intake. By focusing on taste and nutritional benefits, Silk Nextmilk positions itself as a leader in the plant-based milk market.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Plant-Based Milk market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Source: Soy Milk, Almond Milk, Coconut Milk, Rice Milk, Other.

By Packaging: Bottles, Carton Packaging, Pouches.

By Distribution Channel: Retail Stores, Online Sales, Specialty Stores, Other.

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features:

➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

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