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)

Report
250 Pages
January 2024
Region: Global
Fairfield Market Research
ID: 5934328

The publisher 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

This product will be delivered within 1-3 business days.

1. Executive Summary

1.1. Global Plant-based Milk Powder Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Plant-based Milk Powder Market Outlook, 2018 - 2031

3.1. Global Plant-based Milk Powder Market Outlook, by Type, Value (US$ Mn) and Volume 2018 - 2031
3.1.1. Key Highlights
3.1.1.1. Almond Milk Powder
3.1.1.2. Soy Milk Powder
3.1.1.3. Coconut Milk Powder
3.2. Global Plant-based Milk Powder Market Outlook, by Application, Value (US$ Mn) and Volume 2018 - 2031
3.2.1. Key Highlights
3.2.1.1. Bakery & Confectionary
3.2.1.2. Nutritional Food
3.2.1.3. Infant Formulas
3.3. Global Plant-based Milk Powder Market Outlook, by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
3.3.1. Key Highlights
3.3.1.1. Supermarkets/Hypermarkets
3.3.1.2. Specialized Stores
3.3.1.3. Convenience Stores
3.3.1.4. Retail Stores
3.4. Global Plant-based Milk Powder Market Outlook, by Region, Value (US$ Mn) and Volume 2018 - 2031
3.4.1. Key Highlights
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa

4. North America Plant-based Milk Powder Market Outlook, 2018 - 2031

4.1. North America Plant-based Milk Powder Market Outlook, by Type, Value (US$ Mn) and Volume 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. Almond Milk Powder
4.1.1.2. Soy Milk Powder
4.1.1.3. Coconut Milk Powder
4.2. North America Plant-based Milk Powder Market Outlook, by Application, Value (US$ Mn) and Volume 2018 - 2031
4.2.1. Key Highlights
4.2.1.1. Bakery & Confectionary
4.2.1.2. Nutritional Food
4.2.1.3. Infant Formulas
4.3. North America Plant-based Milk Powder Market Outlook, by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
4.3.1. Key Highlights
4.3.1.1. Supermarkets/Hypermarkets
4.3.1.2. Specialized Stores
4.3.1.3. Convenience Stores
4.3.1.4. Retail Stores
4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Plant-based Milk Powder Market Outlook, by Country, Value (US$ Mn) and Volume 2018 - 2031
4.4.1. Key Highlights
4.4.1.1. U.S. Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
4.4.1.2. U.S. Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
4.4.1.3. U.S. Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
4.4.1.4. Canada Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
4.4.1.5. Canada Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
4.4.1.6. Canada Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Plant-based Milk Powder Market Outlook, 2018 - 2031

5.1. Europe Plant-based Milk Powder Market Outlook, by Type, Value (US$ Mn) and Volume 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. Almond Milk Powder
5.1.1.2. Soy Milk Powder
5.1.1.3. Coconut Milk Powder
5.2. Europe Plant-based Milk Powder Market Outlook, by Application, Value (US$ Mn) and Volume 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Bakery & Confectionary
5.2.1.2. Nutritional Food
5.2.1.3. Infant Formulas
5.3. Europe Plant-based Milk Powder Market Outlook, by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
5.3.1. Key Highlights
5.3.1.1. Supermarkets/Hypermarkets
5.3.1.2. Specialized Stores
5.3.1.3. Convenience Stores
5.3.1.4. Retail Stores
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Plant-based Milk Powder Market Outlook, by Country, Value (US$ Mn) and Volume 2018 - 2031
5.4.1. Key Highlights
5.4.1.1. Germany Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.2. Germany Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.3. Germany Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.4. U.K. Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.5. U.K. Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.6. U.K. Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.7. France Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.8. France Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.9. France Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.10. Italy Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.11. Italy Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.12. Italy Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.13. Turkey Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.14. Turkey Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.15. Turkey Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.16. Russia Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.17. Russia Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.18. Russia Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.19. Rest of Europe Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.20. Rest of Europe Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
5.4.1.21. Rest of Europe Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Plant-based Milk Powder Market Outlook, 2018 - 2031

6.1. Asia Pacific Plant-based Milk Powder Market Outlook, by Type, Value (US$ Mn) and Volume 2018 - 2031
6.1.1. Key Highlights
6.1.1.1. Almond Milk Powder
6.1.1.2. Soy Milk Powder
6.1.1.3. Coconut Milk Powder
6.2. Asia Pacific Plant-based Milk Powder Market Outlook, by Application, Value (US$ Mn) and Volume 2018 - 2031
6.2.1. Key Highlights
6.2.1.1. Bakery & Confectionary
6.2.1.2. Nutritional Food
6.2.1.3. Infant Formulas
6.3. Asia Pacific Plant-based Milk Powder Market Outlook, by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
6.3.1. Key Highlights
6.3.1.1. Supermarkets/Hypermarkets
6.3.1.2. Specialized Stores
6.3.1.3. Convenience Stores
6.3.1.4. Retail Stores
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Plant-based Milk Powder Market Outlook, by Country, Value (US$ Mn) and Volume 2018 - 2031
6.4.1. Key Highlights
6.4.1.1. China Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.2. China Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.3. China Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.4. Japan Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.5. Japan Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.6. Japan Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.7. South Korea Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.8. South Korea Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.9. South Korea Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.10. India Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.11. India Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.12. India Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.13. Southeast Asia Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.14. Southeast Asia Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.15. Southeast Asia Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.16. Rest of Asia Pacific Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.17. Rest of Asia Pacific Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
6.4.1.18. Rest of Asia Pacific Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Plant-based Milk Powder Market Outlook, 2018 - 2031

7.1. Latin America Plant-based Milk Powder Market Outlook, by Type, Value (US$ Mn) and Volume 2018 - 2031
7.1.1. Key Highlights
7.1.1.1. Almond Milk Powder
7.1.1.2. Soy Milk Powder
7.1.1.3. Coconut Milk Powder
7.2. Latin America Plant-based Milk Powder Market Outlook, by Application, Value (US$ Mn) and Volume 2018 - 2031
7.2.1. Key Highlights
7.2.1.1. Bakery & Confectionary
7.2.1.2. Nutritional Food
7.2.1.3. Infant Formulas
7.3. Latin America Plant-based Milk Powder Market Outlook, by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
7.3.1. Key Highlights
7.3.1.1. Supermarkets/Hypermarkets
7.3.1.2. Specialized Stores
7.3.1.3. Convenience Stores
7.3.1.4. Retail Stores
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Plant-based Milk Powder Market Outlook, by Country, Value (US$ Mn) and Volume 2018 - 2031
7.4.1. Key Highlights
7.4.1.1. Brazil Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.2. Brazil Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.3. Brazil Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.4. Mexico Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.5. Mexico Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.6. Mexico Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.7. Argentina Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.8. Argentina Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.9. Argentina Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.10. Rest of Latin America Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.11. Rest of Latin America Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
7.4.1.12. Rest of Latin America Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Plant-based Milk Powder Market Outlook, 2018 - 2031

8.1. Middle East & Africa Plant-based Milk Powder Market Outlook, by Type, Value (US$ Mn) and Volume 2018 - 2031
8.1.1. Key Highlights
8.1.1.1. Almond Milk Powder
8.1.1.2. Soy Milk Powder
8.1.1.3. Coconut Milk Powder
8.2. Middle East & Africa Plant-based Milk Powder Market Outlook, by Application, Value (US$ Mn) and Volume 2018 - 2031
8.2.1. Key Highlights
8.2.1.1. Bakery & Confectionary
8.2.1.2. Nutritional Food
8.2.1.3. Infant Formulas
8.3. Middle East & Africa Plant-based Milk Powder Market Outlook, by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
8.3.1. Key Highlights
8.3.1.1. Supermarkets/Hypermarkets
8.3.1.2. Specialized Stores
8.3.1.3. Convenience Stores
8.3.1.4. Retail Stores
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Plant-based Milk Powder Market Outlook, by Country, Value (US$ Mn) and Volume 2018 - 2031
8.4.1. Key Highlights
8.4.1.1. GCC Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.2. GCC Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.3. GCC Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.4. South Africa Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.5. South Africa Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.6. South Africa Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.7. Egypt Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.8. Egypt Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.9. Egypt Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.10. Nigeria Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.11. Nigeria Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.12. Nigeria Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.13. Rest of Middle East & Africa Plant-based Milk Powder Market by Type, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.14. Rest of Middle East & Africa Plant-based Milk Powder Market by Application, Value (US$ Mn) and Volume 2018 - 2031
8.4.1.15. Rest of Middle East & Africa Plant-based Milk Powder Market by Distribution Channel, Value (US$ Mn) and Volume 2018 - 2031
8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Market Share Analysis, 2023
9.2. Competitive Dashboard
9.3. Company Profiles
9.3.1. Asahi Group Foods, Ltd.
9.3.1.1. Company Overview
9.3.1.2. Product Portfolio
9.3.1.3. Financial Overview
9.3.1.4. Business Strategies and Development
9.3.2. Bulk Barn Foods Limited
9.3.2.1. Company Overview
9.3.2.2. Product Portfolio
9.3.2.3. Financial Overview
9.3.3. BMS Organics
9.3.3.1. Company Overview
9.3.3.2. Product Portfolio
9.3.3.3. Financial Overview
9.3.3.4. Business Strategies and Development
9.3.4. NOW Foods
9.3.4.1. Company Overview
9.3.4.2. Product Portfolio
9.3.4.3. Financial Overview
9.3.4.4. Business Strategies and Development
9.3.5. Unisoy Foods
9.3.5.1. Company Overview
9.3.5.2. Product Portfolio
9.3.5.3. Financial Overview
9.3.5.4. Business Strategies and Development
9.3.6. Enfamil
9.3.6.1. Company Overview
9.3.6.2. Product Portfolio
9.3.6.3. Financial Overview
9.3.6.4. Business Strategies and Development
9.3.7. Urban Platter
9.3.7.1. Company Overview
9.3.7.2. Product Portfolio
9.3.7.3. Financial Overview
9.3.7.4. Business Strategies and Development
9.3.8. Bio Nutrients (India) Pvt. Ltd.
9.3.8.1. Company Overview
9.3.8.2. Product Portfolio
9.3.8.3. Financial Overview
9.3.8.4. Business Strategies and Development
9.3.9. Chocolate Alchemy
9.3.9.1. Company Overview
9.3.9.2. Product Portfolio
9.3.9.3. Financial Overview
9.3.9.4. Business Strategies and Development
9.3.10. Jaffe Bros., Inc.
9.3.10.1. Company Overview
9.3.10.2. Product Portfolio
9.3.10.3. Financial Overview
9.3.10.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Companies Mentioned

Asahi Group Foods, Ltd.
Bulk Barn Foods Limited
BMS Organics
NOW Foods
Unisoy Foods
Enfamil
Urban Platter
Bio Nutrients (India) Pvt. Ltd.
Chocolate Alchemy
Jaffe Bros., Inc.

Methodology

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Key Drivers Fueling Market Expansion

Region-Wise Analysis

Country-Wise Analysis

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:

By Application:

By Distribution Channel:

By Region:

Table of Contents

Companies Mentioned

Methodology

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