Plant-Based Milk Market Report: Trends, Forecast and Competitive Analysis to 2030

Plant-Based Milk Trends and Forecast

The future of the global plant-based milk market looks promising with opportunities in the retail/household, foodservices, and food & beverage markets. The global plant-based milk market is expected to reach an estimated $4.43 billion by 2030 with a CAGR of 9.8% from 2024 to 2030. The major drivers for this market are growing recognition of the health advantages and aspiration for healthier living options and surge in vegan population across the globe.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Plant-Based Milk by Segment

The study includes a forecast for the global plant-based milk by milk type, distribution channel, end use, and region.

Plant-Based Milk Market by Milk Type [Shipment Analysis by Value from 2018 to 2030]:

• Almond
• Soy
• Rice
• Oat
• Coconut
• Others

Plant-Based Milk Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]:

• Online
• Supermarket
• Convenience Stores

Plant-Based Milk Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Retail/Household
• Foodservices Industry
• Food & Beverage Industry
• Others

Plant-Based Milk Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Plant-Based Milk Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies plant-based milk companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the plant-based milk companies profiled in this report include-

• Pacific Foods of Oregon
• Hain Celestial
• Edward & Sons
• Earth's Own Food Company
• Goya Foods
• Mc Cormick
• SunOpta
• Chef's Choice Food Manufacturer Company
• Hershey Company
• Vitasoy

Global Plant-Based Milk Market Insights

Lucintel forecasts that soy will remain the largest segment over the forecast period due to increasing incidence of lactose intolerance and food sensitivities.

Within this market, retail/household will remain the largest segment due to growing consumer knowledge about health and wellness.

North America will remain the largest region over the forecast period due to increasing recognition of the health advantages in the region.

Features of the Global Plant-Based Milk Market

Market Size Estimates: Plant-based milk market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Plant-based milk market size by milk type, distribution channel, end use, and region in terms of value ($B).

Regional Analysis: Plant-based milk market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different milk types, distribution channels, end uses, and regions for the global plant-based milk market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global plant-based milk market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the global plant-based milk market size?

Answer: The global plant-based milk market is expected to reach an estimated $4.43 billion by 2030.

Q2. What is the growth forecast for plant-based milk market?

Answer: The global plant-based milk market is expected to grow with a CAGR of 9.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the plant-based milk market?

Answer: The major drivers for this market are growing recognition of the health advantages and aspiration for healthier living options and surge in vegan population across the globe.

Q4. What are the major segments for plant-based milk market?

Answer: The future of the global plant-based milk market looks promising with opportunities in the retail/household, foodservices, and food & beverage markets.

Q5. Who are the key plant-based milk market companies?

Answer: Some of the key plant-based milk companies are as follows:

• Pacific Foods of Oregon
• Hain Celestial
• Edward & Sons
• Earth's Own Food Company
• Goya Foods
• Mc Cormick
• SunOpta
• Chef's Choice Food Manufacturer Company
• Hershey Company
• Vitasoy

Q6. Which plant-based milk market segment will be the largest in future?

Answer: Lucintel forecasts that soy will remain the largest segment over the forecast period due to increasing incidence of lactose intolerance and food sensitivities.

Q7. In plant-based milk market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to increasing recognition of the health advantages in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the plant-based milk market by milk type (almond, soy, rice, oat, coconut, and others), distribution channel (online, supermarket, and convenience stores), end use (retail/household, foodservices industry, food & beverage industry, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?