Plant-based Milk Powder Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Plant-based Milk Powder Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Fairfield Market Research has unveiled its latest analysis report, revealing that the global Plant-based Milk Powder Market achieved sales of US$ 420 million in 2024. With a projected Compound Annual Growth Rate (CAGR) of 10.0% anticipated from 2024 to 2031, the market is poised to reach a valuation of US$ 800 million by the conclusion of the forecast period. Among the various types, Almond Milk Powder is expected to emerge as the highest revenue generator from 2024 to 2031.

Key Drivers Fueling Market Expansion

The global demand for plant-based milk powder has surged due to rising instances of milk allergies, especially among infants and young children. Milk allergies, affecting up to 10% of children under the age of one, have prompted consumers to seek alternatives to traditional dairy products, driving market growth.

Moreover, consumer demand for natural ingredients has led to an increasing shift towards natural dairy-derived flavors, as artificial ingredients pose health concerns. The plant-based milk powder market has also witnessed growth due to concerns about contamination in traditional dairy products, particularly among vegan consumers.

Region-Wise Analysis

North America: North America stands as a prominent market for Plant-based Milk Powder, with a market size of US$ 112 million in 2023, expected to reach US$ 119 million in 2024. The region is projected to achieve a market worth US$ 230 million by 2031. The growing demand for plant-based milk products, driven by lactose intolerance and milk allergies, has contributed to market expansion.

Country-Wise Analysis

United States: In the United States, the Plant-based Milk Powder Market is expected to experience substantial growth, with a strong upward trend predicted from 2024 to 2031. The United States, a leading almond producer, has witnessed a surge in almond milk-based products, contributing significantly to market expansion.

Germany: Germany's market is anticipated to see noteworthy growth, with a positive trajectory expected from 2024 to 2031. The rising popularity of almond milk as a plant-based alternative has been a driving force behind market expansion in the country.

China: China's Plant-based Milk Powder Market is projected to undergo substantial growth in the coming years, driven by increased investments and heightened awareness of plant-based milk products, particularly due to concerns related to lactose intolerance and milk allergies.

India: India's Plant-based Milk Powder Market is poised for significant expansion, driven by rising health consciousness among consumers and the growing availability of diverse plant-based milk alternatives.

United Kingdom: The United Kingdom's market is expected to experience considerable growth, with investments in almond-based products and a growing preference for premium baby formula products contributing to this expansion.

Competitive Analysis

Key players in the Plant-based Milk Powder Market include Asahi Group Foods, Ltd., Bulk Barn Foods Limited, BMS Organics, NOW Foods, Unisoy Foods, Enfamil, Urban Platter, Bio Nutrients (India) Pvt. Ltd., Chocolate Alchemy, and Jaffe Bros. Inc.

Segmentation of the Plant-based Milk Powder Market:

By Type:
• Almond Milk Powder
• Soy Milk Powder
• Coconut Milk Powder
• Other Types

By Application:
• Bakery & Confectionary
• Nutritional Food
• Infant Formulas

By Distribution Channel:
• Online Sales
• Supermarkets/Hypermarkets
• Specialized Stores
• Convenience Stores
• Retail Stores

By Region:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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