Outlook on the Milk Substitutes (Non-Dairy Milk) Market: Major Segments, Strategic Developments, and Leading Companies

The global market for milk substitutes, commonly known as non-dairy milk, is rapidly evolving as consumers increasingly seek plant-based alternatives. Driven by a combination of health, environmental, and dietary preferences, this sector is set for substantial expansion in the coming years. Let's explore the current outlook, key market players, and segmentation details shaping this dynamic industry.

Projected Growth Trajectory of the Milk Substitutes Market Through 2030
The milk substitutes (non dairy milk) market is poised for remarkable growth over the next several years. By 2030, its market size is expected to reach $90.17 billion, growing at a compound annual growth rate (CAGR) of 15.3%. This surge is largely fueled by escalating demand for sustainable plant-based beverages, continuous innovation in alternative protein sources, and the widening use of non-dairy products in foodservice sectors. Additionally, investments aimed at functional fortification and the global shift towards plant-based nutrition are further propelling this market expansion. Key trends anticipated during this period include a heightened appetite for plant-based dairy alternatives, growing popularity of oat and almond milk, increased consumer focus on lactose-free and vegan diets, the rise of fortified non-dairy beverages, and a stronger emphasis on clean-label ingredients.

Download a free sample of the milk substitutes (non dairy milk) market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2531&type=smp&utm_source=OpenPR&utm_medium=Paid&utm_campaign=Feb_PR

Significant Market Players Influencing the Milk Substitutes Industry
The milk substitutes market features a range of influential companies shaping its direction and innovation. Leading players include Hain Celestial Group Inc., Blue Diamond Growers Inc., SunOpta Inc., Chobani LLC, Vitasoy International Holdings Limited, Oatly AB, Freedom Foods Group Limited, Sanitarium Health and Wellbeing Company, Valsoia S.p.A., Califia Farms LLC, Eden Foods Inc., Earth's Own Food Company, Ripple Foods Inc., Good Karma Foods LLC, Elmhurst 1920 Inc., Pacific Foods of Oregon LLC, Silk North America LLC, Alpro (UK) Limited, So Delicious Dairy Free, Forager Project LLC, Milkadamia Inc., Mooala Brands LLC, Rude Health Inc., and Sproud Limited.

In a notable industry development, October 2023 saw Finland-based Oddlygood Global Oy acquire Planti, another Finnish plant-based food company, for an undisclosed sum. This strategic move aims to enhance Oddlygood's footprint in the plant-based dairy alternatives market by diversifying its offerings and entering new subcategories such as spoonable snacks and cooking-friendly dairy-free products. Planti is recognized for its focus on non-dairy milks, yogurt-like products, and cooking-oriented dairy alternatives.

View the full milk substitutes (non dairy milk) market report:
https://www.thebusinessresearchcompany.com/report/milk-substitutes-non-dairy-milk-global-market-report?utm_source=OpenPR&utm_medium=Paid&utm_campaign=Feb_PR

Market Segmentation Overview for Milk Substitutes (Non Dairy Milk)
This market is segmented based on various factors to cater to diverse consumer preferences and distribution methods.
1) By Type: Includes Soy Milk, Almond Milk, Rice Milk, and Other Types such as Coconut Milk, Oat Milk, Hemp Milk, Cashew Milk, and Pea Milk.
2) By Formulation: Divided into Plain-Sweetened, Plain-Unsweetened, Flavored-Sweetened, and other formulation types.
3) By Distribution Channel: Encompasses Supermarkets, Hypermarkets, Convenience Stores, Specialty Stores, Online Retail Stores, and other channels.
4) By Application: Primarily categorized into Food and Beverages sectors.

Further subcategories detail specific variants such as Unsweetened, Sweetened, and Flavored options within Soy, Almond, and Rice Milk groups, as well as the inclusion of organic rice milk under Rice Milk types.

Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.