APAC Plant-Based Milk Market - Industry Trends and Forecast to 2030

APAC Plant-Based Milk Market - Industry Trends and Forecast to 2030

Asia-Pacific Plant-Based Milk Market, By Type (Almond Milk, Coconut Milk, Cashew Milk, Walnut Milk, Hazelnut Milk, Soy Milk, Oat Milk, Rice Milk, Flax Milk, and Others), Product Type (Refrigerated Milk and Shelf Stable Milk), Category (Organic and Conventional), Formulation (Sweetened and Unsweetened), Flavor (Original/Unflavored, Vanilla, Chocolate, Honey, Coconut Blend, Hazelnut Blend, Caramel, Maple, Coffee, and Others), Fortification (Regular and Fortified), Nature (GMO and Non-GMO), Claim (Regular, Gluten Free, Nut Free, Soy Free, Artificial Preservatives & Color Free, and Others), Packaging Size (Less than 100 ml, 110 ml, 250 ml, 500 ml, 1000 ml, and More than 1000 ml), Packaging Type (Tetra Packs, Bottles, and Can), Distribution Channel (Store Based Retailers and Non-Store Based Retailers) Country (Japan, China, South Korea, India, Australia, New Zealand, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2030

Market Definition

Plant-based milk is a beverage made from plants that resemble milk in appearance. Plant milk is a non-dairy beverage flavored and scented with water-based plant extracts. Plant-based milk is consumed as a vegan alternative to dairy milk. Plant-based milk has a creamy texture if compared with dairy milk. For the production of plant milk, various plants are used. Among the most popular plant milk globally is almond, oat, soy, and cashew nut milk. Since ancient times, people have drank beverages made from plants.

Moreover, plant-based milk is the best alternative for consumers who are unable or do not want to consume typical dairy milk derived from cows, sheep, or goats. In addition, some people switch to plant-based milk due to an allergy or intolerance to animal-based milk, particularly lactose intolerance. As no animal products are utilized in their production, these dairy substitutes can be included in a vegan diet.

Market Segmentation

The Asia-Pacific plant-based milk market is segmented into eleven notable segments based on type, product type, category, formulation, flavor, fortification, nature, claim, packaging size, packaging type, and distribution channel.
• On the basis of type, the Asia-Pacific plant-based milk market is segmented into almond milk, coconut milk, cashew milk, walnut milk, hazelnut milk, soy milk, oat milk, rice milk, flax milk, and others.
• On the basis of product type, the Asia-Pacific plant-based milk market is segmented into organic and conventional
• On the basis of category, the Asia-Pacific plant-based milk market is segmented into refrigerated milk and shelf stable milk
• On the basis of formulation, the Asia-Pacific plant-based milk market is segmented into sweetened and unsweetened.
• On the basis of flavor, the Asia-Pacific plant-based milk market is segmented into original/unflavored, vanilla, chocolate, honey, coconut blend, hazelnut blend, caramel, maple, coffee, and others
• On the basis of fortification, the Asia-Pacific plant-based milk market is segmented into regular and fortified.
• On the basis of nature, the Asia-Pacific plant-based milk market is segmented into GMO and Non-GMO
• On the basis of claim, the Asia-Pacific plant-based milk market is segmented into regular, gluten free, nut free, soy free, artificial preservatives, color free, and others
• On the basis of packaging size, the Asia-Pacific plant-based milk market is segmented into less than 100 ml, 110 ml, 250 ml, 500 ml, 1000 ml, and more than 1000 ml
• On the basis of packaging type, the Asia-Pacific plant-based milk market is segmented into tetra packs, bottles, and cans
• On the basis of distribution channel, the Asia-Pacific plant-based milk market is segmented into store based retailers and non-store based retailers

Market Players

Some key market players operating in the Asia-Pacific plant-based milk market are listed below:
• Sanitarium
• Alpro
• RUDE HEALTH
• Plenish
• Provamel organic-bio
• THE HAIN CELESTIAL GROUP, INC.
• SUNOPTA GRAINS AND FOODS INC.
• Califia Farms, LLC
• NotCo
• Valsoia S.p.A
• YEO HIAP SENG LTD.
• Simple FOODS
• natur-a
• Australia's Own
• Oatly Inc.
• Elmhurst Milked Direct LLC
• Hershey India Private Limited
• Life Health Foods
• Manitoba Milling Company
• HP Hood LLC.

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