Press release
Global Plant-Based Milk Market Outlook 2024-2031: Trends, Growth Drivers, and Opportunities | Meticulous Research®
The global plant-based milk market has been witnessing robust growth, driven by changing consumera preferences, health awareness, and sustainability considerations. Valued at $21.96 billion in 2023, the market is projected to reach $52.54 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.4% during the forecast period of 2024-2031. In terms of volume, the market is expected to expand to 18.26 billion liters by 2031, reflecting a CAGR of 9.2%. Rising concerns about lactose intolerance, allergies to cow milk, and growing health consciousness are the primary factors fueling this growth. Additionally, emerging economies are providing new opportunities for market expansion, although challenges such as fluctuating raw material prices and the persistent preference for animal-based milk remain.Download Sample Report Here: https://www.meticulousresearch.com/request-sample-report/cp_id=5304
Drivers of Growth
One of the most significant factors driving the plant-based milk market is the high prevalence of lactose intolerance and milk allergies. Lactose intolerance, the inability to digest lactose, affects a large portion of the global population, with East Asian populations seeing rates as high as 70-100%. Other populations, including Native American, African, Mediterranean, and Jewish groups, also report high incidences. In India, around 61% of people are lactose intolerant. These conditions have encouraged many consumers to shift away from cow milk toward plant-based alternatives, contributing significantly to the market's growth.
Alongside lactose intolerance, growing awareness about health and well-being has further strengthened demand for plant-based milk. Modern consumers are increasingly conscious of lifestyle-related health issues such as obesity, cardiovascular diseases, diabetes, and dermatological problems linked to dairy consumption. Plant-based milks generally contain lower levels of saturated fats and cholesterol, helping manage these conditions. In addition, these products are nutritionally fortified to provide essential vitamins and minerals, making them suitable for a wide range of consumers, from children to athletes.
Emerging Market Opportunities
Emerging markets in Asia-Pacific and Latin America represent key growth opportunities for the plant-based milk industry. Rising urbanization, increasing incomes, and a growing focus on health and sustainability have driven the adoption of plant-based diets in these regions. In countries like China, a significant portion of the population is embracing vegetarianism for health and environmental reasons, while governments in nations like Brazil and India are supporting sustainable agricultural practices that indirectly boost plant-based milk production. Latin American countries are also seeing increased investments and infrastructure expansion, indicating strong potential for long-term growth.
Browse in Depth: https://www.meticulousresearch.com/product/plant-based-milk-market-5304
Market Segmentation
The plant-based milk market can be segmented by type, formulation, and distribution channel. Almond milk currently holds the largest share, accounting for nearly 60% of the global market in 2024, due to its lactose-free nature, appealing taste, and lower environmental footprint compared to dairy milk. However, oat milk is projected to register the highest growth rate over the forecast period. Consumers increasingly prefer oat milk because it is soy-free, gluten-free, and nutritionally rich, with added vitamins and minerals that make it comparable to cow milk.
In terms of formulation, unflavored plant-based milk dominates the market with a share of around 64% in 2024. Consumers favor unflavored varieties for their natural taste and versatility in cooking. Flavored plant-based milk, however, is growing rapidly due to rising demand for ready-to-drink beverages and diverse taste preferences.
Distribution channels also influence market dynamics. Business-to-consumer (B2C) channels account for the majority of sales, driven by supermarkets, hypermarkets, specialty stores, and online retail platforms. The business-to-business (B2B) segment, serving restaurants, cafes, and foodservice providers, remains an important contributor to overall market volume.
Geographical Analysis
Asia-Pacific dominates the global plant-based milk market, accounting for nearly half of the market share in 2024. The region's large vegan and vegetarian population, combined with increasing health awareness and adoption of advanced food technologies, has fueled growth. The Asia-Pacific market is also expected to achieve the highest CAGR of 12.6% during the forecast period, reflecting expanding consumer interest and investments. Europe and North America follow in market size, with steady demand supported by high consumer awareness and disposable incomes. Emerging regions such as Latin America are gradually increasing their share due to urbanization, investments, and growing interest in sustainable diets.
Buy the Complete Report with an Impressive Discount: https://www.meticulousresearch.com/view-pricing/618
Market Outlook
The plant-based milk market is expected to continue its strong growth trajectory through 2031. Consumer demand will be driven by health-consciousness, environmental concerns, and the convenience of modern distribution channels. Emerging markets are likely to become central growth hubs, while established regions will see steady demand supported by innovation in flavors, nutritional fortification, and product variety.
Conclusion
The plant-based milk industry reflects a global shift toward healthier, more sustainable diets. With increasing lactose intolerance, rising health awareness, and growing investments in production and infrastructure, the market is well-positioned for continued expansion. Almond milk dominates the current market, while oat milk is emerging as the fastest-growing segment. Unflavored products remain popular, though flavored varieties are catching up, and retail channels are leading distribution. Overall, the market presents significant opportunities for both new entrants and existing players, offering a promising future in line with evolving consumer preferences for nutritious, environmentally responsible alternatives to dairy milk.
Key questions answered in the plant-based milk market report:
By how much is the plant-based milk market expected to grow by 2031 in terms of value?
What is the expected CAGR of the plant-based milk market between 2024 and 2031?
Why is lactose intolerance considered a major driver for the plant-based milk market?
Which populations are most affected by lactose intolerance?
Which type of plant-based milk holds the largest share in 2024?
Which type of plant-based milk is projected to grow the fastest from 2024-2031?
What distribution channel currently dominates the plant-based milk market?
Why is the B2B segment still important for plant-based milk manufacturers?
Which region currently holds the largest share of the global plant-based milk market?
Which region is expected to register the highest growth rate during the forecast period?
Related Reports:
Plant-based Food Market: https://www.meticulousresearch.com/product/plant-based-food-market-5108
Plant-based Meat Market: https://www.meticulousresearch.com/product/plant-based-meat-market-5581
Contact Us: Meticulous Market Research Pvt. Ltd. 1267 Willis St, Ste 200 Redding, California, 96001, U.S.
Email- sales@meticulousresearch.com
USA: +1-646-781-8004
Europe: +44-203-868-8738
APAC: +91 744-7780008
Visit Our Website: https://www.meticulousresearch.com/
For Latest Update Follow Us: LinkedIn- https://www.linkedin.com/company/meticulous-research
About Us: We are a trusted research partner for leading businesses worldwide, empowering Fortune 500 organizations and emerging enterprises with actionable market intelligence tailored to drive revenue transformation and strategic growth. Our insights reveal forward-looking revenue opportunities, providing our clients with a competitive edge through a diverse suite of research solutions-syndicated reports, custom research, and direct analyst engagement. Each year, we conduct over 300 syndicated studies and manage 60+ consulting engagements across eight key industry sectors and 20+ geographic markets. With a focus on solving the complex challenges facing global business leaders, our research enables informed decision-making that propels sustainable growth and operational excellence. We are dedicated to delivering high-impact solutions that transform business performance and fuel innovation in the competitive global marketplace.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Plant-Based Milk Market Outlook 2024-2031: Trends, Growth Drivers, and Opportunities | Meticulous Research® here
News-ID: 4292007 • Views: …
More Releases from Meticulous Research®
Global Algae Products Market: Growth Trends, Key Drivers, and Future Outlook| Me …
In the past few years, algae have moved from being a niche ingredient to something industries across the world take seriously. The global market for algae products was valued at a little over USD 3.28 billion in 2023, and it is on course to reach USD 6.01 billion by 2031. This anticipated growth reflects a shift in how consumers think about food, health, beauty and even energy. With a CAGR…
Digital Biomanufacturing Market Outlook 2025-2035: Growth, Trends, and Industry …
Digital Biomanufacturing Market Overview
The digital biomanufacturing market is entering a phase of rapid expansion, driven by a major shift in how biologics are produced and how biopharmaceutical companies manage their end-to-end operations. According to industry estimates, the market is set to reach USD 76.4 billion by 2035, rising from USD 23.4 billion in 2025 at a strong CAGR of 12.6 percent. This remarkable growth stems from the increasing demand for…
Microalgae Market 2025-2035: Global Size, Growth Outlook, and Key Opportunities
The global microalgae market is entering a period of strong and sustained growth, driven by rapid advancements in biotechnology, rising demand for natural ingredients, and increasing adoption of sustainable production practices. Valued at USD 1.37 billion in 2024, the market is projected to reach USD 1.48 billion in 2025 and expand further to USD 3.04 billion by 2035, growing at a CAGR of 8.4% during the forecast period. Microalgae, known…
Sterilization Equipment Market Outlook 2025-2035: Growth Dynamics, Trends, and F …
Introduction
The global sterilization equipment market has entered a phase of strong and sustained growth, driven by rising concerns over infection control, stricter healthcare standards, and expanding applications across diverse industries. Valued at USD 15.6 billion in 2024, the market is projected to reach USD 16.8 billion in 2025 and further climb to USD 34.2 billion by 2035. With a CAGR of 7.4% during the forecast period, this growth reflects the…
More Releases for America
Stabilit America Highlights Applications of Fiberglass Roof Panels with Stabilit …
Roofing materials are very important in the realm of modern construction, as they should be long lasting, economical and attractive. Fiberglass roof panels are a few of the numerous choices among several alternatives that have received a reputation of being versatile, long life, and adaptable in various sectors. They are favored by the architects, contractors, and property developers due to their lightweight construction, resistance to weather factors, and the ease…
Deodorants Market Report by Region (North America, EMEA, Latin America, Asia)
2025 - Pristine Market Insights, a leading market research firm, announced the release of its latest and comprehensive market research report on Deodorants market. The report spans over 500 pages and delivers 10-year market forecast in US dollars (or custom currencies upon request). It provides in-depth analysis of market dynamics (drivers, opportunities, restraints), PESTLE insights, latest industry trends, and demand factors. The report includes segmented market value, share (%), compound…
Sequestrant Market Report by Region (North America, EMEA, Latin America, Asia)
2025 - Pristine Market Insights, a leading market research firm, announced the release of its latest and comprehensive market research report on Sequestrant market. The report spans over 500 pages and delivers 10-year market forecast in US dollars (or custom currencies upon request). It provides in-depth analysis of market dynamics (drivers, opportunities, restraints), PESTLE insights, latest industry trends, and demand factors. The report includes segmented market value, share (%), compound…
Buttermilk Market Study by Region (North America, Latin America, Europe, Asia, M …
2025 - Pristine Market Insights, a leading market research firm, announced the release of its latest and comprehensive market research report on Buttermilk market. The report spans over 500 pages and delivers 10-year market forecast in US dollars (or custom currencies upon request). It provides in-depth analysis of market dynamics (drivers, opportunities, restraints), PESTLE insights, latest industry trends, and demand factors. The report includes segmented market value, share (%),…
Textiles Market Analysis Report, Regional Outlook - Europe, North America, South …
Adroit Market Research has announced the addition of the “Global Textiles Market Size Status and Forecast 2025”, The report classifies the global Textiles in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
This report studies the global Textiles Speaker market, analyzes and researches the Textiles Speaker development status and forecast in Europe, North America, Central America, South America, Asia Pacific…
Global Gaucher Disease Market 2018 Covering North America, South America, Europe
Gaucher Disease Market
Summary
The Global Gaucher Disease Market is defined by the presence of some of the leading competitors operating in the market, including the well-established players and new entrants, and the suppliers, vendors, and distributors. The key players are continuously focusing on expanding their geographic reach and broadening their customer base, in order to expand their product portfolio and come up with new advancements.
Gaucher Disease market size to maintain the average annual growth…
