The market for plant-based milk is poised for expansion, driven by an increasing consumer preference for non-dairy and plant-based beverages. This emerging segment within the functional beverages category is gaining significant traction due to a variety of health and ethical considerations.The plant-based milk market is set for substantial growth, with projections indicating a rise from $16.27 billion in 2024 to $31.77 billion by 2031, driven by a robust CAGR of 10.00%.
Food and beverage manufacturers are responding to this trend by innovating and introducing new products made from plant-based ingredients. The demand for plant-based milk is particularly strong in East Asia and Europe, where well-established production facilities and organized supply chain systems contribute to market growth.
This trend is evident in the growing variety of plant-based milk products available on the market, including oat milk, almond milk, and soy milk. These products are perceived as safe, healthy, and environmentally friendly alternatives to traditional dairy milk, driving their popularity among modern consumers.
For example, companies such as Vitasoy International Holdings Limited and Arla Foods have launched new plant-based milk products to meet the rising demand for vegan alternatives. These innovations are helping manufacturers diversify their product portfolios and cater to the evolving preferences of health-conscious consumers.
Producers are expanding their offerings to include a wider range of plant-based milk varieties, and the growing demand for lactose-free beverages is expected to drive further sales of these products. As more consumers seek out alternatives to dairy milk, the market for plant-based milk is likely to continue its upward trajectory.
According to health organizations, a significant portion of the population in East Asia and other regions shows lactose intolerance, leading to a higher demand for plant-based milk. This trend is particularly strong in developed countries, where digestive issues are on the rise.
Plant-based dairy alternatives such as almond milk, oat milk, and soy milk are becoming more popular as consumers focus on sustainable diets. These products are rich in protein, vitamins, fiber, and other essential nutrients, making them attractive options for those looking to reduce their environmental impact.
The trend toward sustainability is also reflected in the growing number of consumers who prioritize ethically sourced raw materials. As a result, the sale of plant-based milk is gaining momentum, driven by the desire to embrace sustainability and animal welfare.
For instance, studies indicate that a significant portion of the population in countries like Germany is either vegetarian or actively reducing their meat consumption. This shift towards plant-based diets is likely to continue, providing further opportunities for growth in the plant-based milk market.
The perception that plant-based milk lacks flavor compared to dairy milk, along with challenges related to shelf-life and heat stability, poses significant hurdles for manufacturers. These issues need to be addressed to encourage broader acceptance of plant-based milk products.
Moreover, animal milk is often viewed as more nutritious than its plant-based counterparts, leading to a negative perception of plant-based milk. This dilemma, combined with the challenges of educating consumers about the benefits of plant-based milk, may hinder the growth of the market.
The demand for convenient foods and beverages in China is also contributing to the growth of the plant-based milk market. As consumers continue to seek out healthier alternatives to traditional dairy products, the market for plant-based milk is likely to expand further.
This product will be delivered within 1-3 business days.
Plant-based Milk Consumption Analysis Vs. Market Estimations
The global plant-based milk market has shown substantial growth in recent years. Consumer health consciousness, coupled with the growing trend toward non-dairy alternatives, has been a major driving force behind this expansion. Plant-based milk is recognized as an ideal alternative to dairy beverages, particularly for those concerned with calorie intake, lactose intolerance, and cholesterol levels. The rise in preference for vegan diets further influences the shift towards plant-based milk as an alternative to cow's milk.Food and beverage manufacturers are responding to this trend by innovating and introducing new products made from plant-based ingredients. The demand for plant-based milk is particularly strong in East Asia and Europe, where well-established production facilities and organized supply chain systems contribute to market growth.
Key Trends in the Plant-Based Milk Market
Growing Demand for Dairy Alternatives Fueling Product Sales
Consumers are increasingly focused on reducing their intake of animal-based foods for health, sustainability, and ethical reasons. This awareness has contributed to a positive growth outlook for plant-based milk products. The rising health consciousness, coupled with a growing inclination toward dairy alternatives and changing dietary patterns, has amplified the importance of plant-based options in the food industry.This trend is evident in the growing variety of plant-based milk products available on the market, including oat milk, almond milk, and soy milk. These products are perceived as safe, healthy, and environmentally friendly alternatives to traditional dairy milk, driving their popularity among modern consumers.
For example, companies such as Vitasoy International Holdings Limited and Arla Foods have launched new plant-based milk products to meet the rising demand for vegan alternatives. These innovations are helping manufacturers diversify their product portfolios and cater to the evolving preferences of health-conscious consumers.
Growing Consumption of Lactose-free Milk
The increasing prevalence of lactose intolerance and digestive disorders has led to a surge in demand for lactose-free milk alternatives. Plant-based milk varieties such as oat milk, coconut milk, and almond milk are ideal substitutes for animal milk, offering vitamins, protein, fiber, and other essential nutrients.Producers are expanding their offerings to include a wider range of plant-based milk varieties, and the growing demand for lactose-free beverages is expected to drive further sales of these products. As more consumers seek out alternatives to dairy milk, the market for plant-based milk is likely to continue its upward trajectory.
According to health organizations, a significant portion of the population in East Asia and other regions shows lactose intolerance, leading to a higher demand for plant-based milk. This trend is particularly strong in developed countries, where digestive issues are on the rise.
Growing Inclination Toward Sustainable Vegan Diets
Veganism and plant-based diets have seen substantial growth over the past decade, driven by concerns about health, animal welfare, and sustainability. This shift in consumer behavior has led to a preference for vegan products, particularly in developed countries, where ethical sourcing and sustainability are increasingly important to consumers.Plant-based dairy alternatives such as almond milk, oat milk, and soy milk are becoming more popular as consumers focus on sustainable diets. These products are rich in protein, vitamins, fiber, and other essential nutrients, making them attractive options for those looking to reduce their environmental impact.
The trend toward sustainability is also reflected in the growing number of consumers who prioritize ethically sourced raw materials. As a result, the sale of plant-based milk is gaining momentum, driven by the desire to embrace sustainability and animal welfare.
For instance, studies indicate that a significant portion of the population in countries like Germany is either vegetarian or actively reducing their meat consumption. This shift towards plant-based diets is likely to continue, providing further opportunities for growth in the plant-based milk market.
Challenges Facing the Plant-Based Milk Market
Dilemma Regarding Nutrient Profile of Plant-based Milk Hindering Product Acceptance
Despite the growing popularity of plant-based milk, some consumers remain hesitant to adopt these products due to concerns about their nutrient profile. There is a lack of understanding and awareness about the nutritional benefits of plant-based beverages, particularly in regions where animal milk is a traditional dietary staple.The perception that plant-based milk lacks flavor compared to dairy milk, along with challenges related to shelf-life and heat stability, poses significant hurdles for manufacturers. These issues need to be addressed to encourage broader acceptance of plant-based milk products.
Moreover, animal milk is often viewed as more nutritious than its plant-based counterparts, leading to a negative perception of plant-based milk. This dilemma, combined with the challenges of educating consumers about the benefits of plant-based milk, may hinder the growth of the market.
Country-wise Insights
Value Share Held by U.S. for the Plant-based Milk Market
The U.S. is witnessing significant growth in the plant-based milk market, driven by rising consumer demand for dairy alternatives. The European market is also experiencing substantial growth, with Germany leading the way. The demand for plant-based milk in Europe is increasing at a notable rate, creating opportunities for manufacturers to expand their presence in this region.Largest Share in the East Asia Market
China holds a dominant share in the East Asian market for plant-based milk. The increasing awareness of the health and nutritional benefits of plant-based milk among consumers is driving demand in this region. The presence of plant-based milk products with high nutritional value in the food and beverage industry is expected to have a positive impact on the market.The demand for convenient foods and beverages in China is also contributing to the growth of the plant-based milk market. As consumers continue to seek out healthier alternatives to traditional dairy products, the market for plant-based milk is likely to expand further.
Category-wise Insights
Most Demanded Type of Plant-based Milk
Among the various types of plant-based milk available, soy-based milk is the most demanded and consumed globally. The soy segment holds the largest market share, driven by its popularity among consumers and the convenience it offers. Soy-based milk is also known for its numerous health benefits, making it a preferred choice for many consumers.Distribution Channels Offering New Growth Opportunities
The demand for plant-based milk is increasing due to its easy availability through various distribution channels. The business-to-business distribution channel category is expected to offer significant growth opportunities for the global plant-based milk market. As more retailers and foodservice providers embrace plant-based milk products, the market is likely to experience continued growth.Competitive Dashboard
The global plant-based milk market is characterized by intense competition, with key players focusing on research and development to create new flavors and improve the quality of their products. Manufacturers are also investing heavily in expanding their production capacities and enhancing their sustainability credentials.Key companies profiled
- Groupe Danone
- The Hain Celestial Group Inc.
- Vitasoy International Holdings Lim/ited
- McCormick & Company
- SunOpta Inc.
- Pacific Foods of Oregon, Inc.
- Goya Foods
- Blue Diamond Growers, Inc.
- Califia Farms
- Ripple Foods
- Oatly
- Sanitarium
- Ecomil
- Hiland Dairy
- Natura Foods
- Earth’s Own Food Company Inc.
- Edward & Sons
- Chef’s Choice Food Manufacturer Company Limited
- Liwayway Holdings Company Limited
- The Bridge s.r.l.
Plant-based Milk Industry Research by Category
By Type:
- Food & Beverage Industry
- Bakery & Confectionery
- Dairy & Desserts
- Infant Formula
- Retail/Household
- Foodservice Industry
By Distribution Channel:
- Business to Business
- Business to Consumer
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
By Type:
- Soy
- Almond
- Coconut
- Rice
- Oat
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. Market Overview
3. Production Output and Trade Statistics, 2019-2023
4. Price Analysis, 2019-2023
5. Global Plant Based Milk Market Outlook, 2019-2031
6. North America Plant Based Milk Market Outlook, 2019-2031
7. Europe Plant Based Milk Market Outlook, 2019-2031
8. Asia Pacific Plant Based Milk Market Outlook, 2019-2031
9. Latin America Plant Based Milk Market Outlook, 2019-2031
10. Middle East & Africa Plant Based Milk Market Outlook, 2019-2031
11. Competitive Landscape
12. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- McCormick & Co.
- Sunopta Inc
- Goya Foods
- Blue Diamond Growers, Inc.
- Califia Farms
- Ripple Foods
- Oatly
- Sanitarium
- Ecomil
- Hiland Dairy
- Natura Foods
- Earth’s Own Food Company Inc
- Edward & Sons
- Chef’s Choice Food Manufacturer Company Limited
- Liwayway Holdings Company Limited
Methodology
LOADING...
