Plant Milk Market Size - By Source (Soy, Almond, Oat, Rice, Coconut), Distribution channel (Mainstream Stores, Specialty Stores), Formulation (Unsweetened & Sweetened), Packaging (Carton Packaging, Bottles, Pouches) & Forecast, 2024

Description

Global Plant Milk Market will record over 11.6% CAGR from 2024 to 2032, boosted by amplifying health consciousness. As people become aware of the health benefits linked to plant-based diets, such as lower cholesterol levels and a reduced risk of chronic diseases, they are opting for plant milk over traditional dairy. This shift is fueled by growing knowledge of the nutritional advantages of plant milk, including its potential to improve overall well-being. Against this backdrop, in January 2024, Oatly launched two new oat milk varieties in the US: Unsweetened Oatmilk with 0g sugar and Super Basic Oatmilk with a minimalist recipe. Both products aim to enhance various uses while maintaining Oatly's signature taste and quality.

The overall plant milk market is categorized based on source, distribution channel, formulation, packaging, and region.

The almond milk segment will register a notable CAGR through 2032, owing to its appealing taste and versatile uses. Almond milk is low in calories and often enriched with vitamins and minerals, making it an attractive option for health-conscious consumers. Its nutty flavor and creamy texture are popular in various recipes and beverages. The increased consumer awareness of sustainable farming practices, as almonds require less water compared to other plant-based options, aligning with Eco-friendly consumer preferences, is driving the segment growth.

The specialty stores segment will clutch a considerable plant milk market share by 2032, due to these retailers' focus on niche and high-quality products. Specialty stores often offer a curated selection of plant milks with unique flavors, organic options, and artisanal brands that appeal to discerning consumers. These stores cater to health-focused and environmentally-conscious shoppers who seek out premium or innovative plant milk options. Additionally, specialty stores frequently provide detailed product information and personalized customer service, enhancing the shopping experience for those looking to explore diverse and high-quality products.

Europe plant milk market will exhibit a commendable CAGR during the forecast period, driven by cultural shifts and regulatory support. European consumers are increasingly embracing plant-based diets due to heightened awareness of animal welfare and environmental sustainability. Additionally, there are government policies and subsidies that support plant-based products. The rise in vegan and vegetarian lifestyles, coupled with innovative plant milk options and favorable labeling regulations, boosts consumer interest. Further, a proliferation of plant-based cafes and restaurants, enhancing the accessibility and appeal of plant milk, will augment the regional market growth.

Product Code: 2250

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Key manufacturers
- 3.1.2 Distributors
- 3.1.3 Profit margins across the industry
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Vast population suffering from milk allergy and lactose intolerance
  - 3.2.1.2 High nutritional value and functionality profile of plant-based dairy alternatives
- 3.2.2 Market challenges
  - 3.2.2.1 Plant milk is more expensive as compared to traditional milk
- 3.2.3 Market opportunity
  - 3.2.3.1 New opportunities
  - 3.2.3.2 Growth potential analysis
3.3 Raw material landscape
- 3.3.1 Manufacturing trends
- 3.3.2 Technology evolution
  - 3.3.2.1 Sustainable manufacturing
    - 3.3.2.1.1 Green practices
    - 3.3.2.1.2 Decarbonization
- 3.3.3 Sustainability in raw materials
- 3.3.4 Pricing trends (USD/Ton)
  - 3.3.4.1 North America
  - 3.3.4.2 Europe
  - 3.3.4.3 Asia Pacific
  - 3.3.4.4 Latin America
  - 3.3.4.5 Middle East & Africa
3.4 Regulations & market impact
3.5 Porter's analysis
3.6 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Size and Forecast, By Source, 2021-2032 (USD Million, Kilo Tons)

5.1 Key trends
5.2 Soy
5.3 Almond
5.4 Oat
5.5 Rice
5.6 Coconut
5.7 Others

Chapter 6 Market Size and Forecast, By Distribution Channel, 2021-2032 (USD Million, Kilo Tons)

6.1 Key trends
6.2 Mainstream stores
6.3 Specialty stores
6.4 Others (online, natural food stores)

Chapter 7 Market Size and Forecast, By Formulation, 2021-2032 (USD Million, Kilo Tons)

7.1 Key trends
7.2 Unsweetened
7.3 Sweetened

Chapter 8 Market Size and Forecast, By Packaging, 2021-2032 (USD Million, Kilo Tons)

8.1 Key trends
8.2 Carton packaging
8.3 Bottles
8.4 Pouches

Chapter 9 Market Size and Forecast, By Region, 2021-2032 (USD Million, Kilo Tons)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 MEA
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 South Africa
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Hain Celestial Group Inc.
10.2 WhiteWave Foods
10.3 Blue Diamond Growers
10.4 Mooala
10.5 Plenish
10.6 SunOpta, Inc.
10.7 Alpro
10.8 Eden Foods, Inc.
10.9 Pacific Foods
10.10 Earths Own Food Company
10.11 New Barn Organics
10.12 Califia Farms
10.13 Malk Organic
10.14 Ripple Foods
10.15 Dream

Plant Milk Market Size - By Source (Soy, Almond, Oat, Rice, Coconut), Distribution channel (Mainstream Stores, Specialty Stores), Formulation (Unsweetened & Sweetened), Packaging (Carton Packaging, Bottles, Pouches) & Forecast, 2024 - 2032