Plant-based Milk Market, By Product (Almond Milk, Oat Milk, Soy Milk, Coconut Milk, Rice Milk, and Others), By Nature (Organic and Conventional), By Flavor (Unflavored and Flavored), By Distribution Channel (Offline, Online, and Others), By Geography (Nor

Plant-based Milk Market, By Product (Almond Milk, Oat Milk, Soy Milk, Coconut Milk, Rice Milk, and Others), By Nature (Organic and Conventional), By Flavor (Unflavored and Flavored), By Distribution Channel (Offline, Online, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Rising demand for plant-based milk globally due to growing health and environment consciousness among consumers can drive the market growth. Rising lactose intolerance, veganism, and preferences for sustainable food options can also drive the plant-based milk market growth. Compared to dairy milk, plant-based milk varieties are lower in saturated fats and cholesterol and higher in vitamins, minerals, and antioxidants. These are perceived as healthier options by many people and appeal to large consumer base seeking milk substitutes. Moreover, plant-based milk production requires less water and emits lower greenhouse gases than dairy farming. With millennial population embracing sustainable lifestyle changes, the market can expand in the near future.

Market Dynamics

Global plant-based milk market growth is primarily driven by rising health awareness and changing dietary preferences of consumers. As consumers become more concerned about risks of heart diseases, obesity, and diabetes associated with dairy milk consumption, there will be huge demand for healthier plant-based alternatives. Growing lactose intolerance globally and larger vegan consumer base also boosts sales of non-dairy milk. Environmental and ethical concerns regarding dairy farming prompt many people to switch to plant-based varieties. However, the market growth can be hampered by premium prices of plant-based products and consumers' preference for taste of dairy milk. Influx of new market entrants with varied product ranges and investments in innovation provide huge growth opportunities to existing players.

Key features of the study

• This report provides in-depth analysis of the global plant-based milk market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global plant-based milk market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Danone S.A., Blue Diamond Growers, The Hain Celestial Group, Inc., Califia Farms, LLC, SunOpta Inc., Ripple Foods, PBC, Elmhurst Milked Direct, LLC, Pacific Foods of Oregon, LLC, Oatly AB, Daiya Foods Inc., Dohler GmbH, and Horizon Organic
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global plant-based milk market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global plant-based milk market

Market Segmentation

• Product Insights (Revenue, USD Bn, 2019 - 2031)
• Almond Milk
• Oat Milk
• Soy Milk
• Coconut Milk
• Rice Milk
• Others
• Nature Insights (Revenue, USD Bn, 2019 - 2031)
• Organic
• Conventional
• Flavor Insights (Revenue, USD Bn, 2019 - 2031)
• Unflavored
• Flavored
• Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
• Offline
• Online
• Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC Countries
• Israel
• Rest of Middle East
• Africa
• South Africa
• North Africa
• Central Africa
• Key Players Insights
• Danone S.A.
• Blue Diamond Growers
• The Hain Celestial Group, Inc.
• Califia Farms, LLC
• SunOpta Inc.
• Ripple Foods, PBC
• Elmhurst Milked Direct, LLC
• Pacific Foods of Oregon, LLC
• Oatly AB
• Daiya Foods Inc.
• Dohler GmbH
• Horizon Organic