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Plant-based Milk Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F
Segmented By Type (Soy Milk, Coconut Milk, Almond Milk, Rice Milk, Others (Oat Milk, etc.), By Category (Flavored Vs Non-Flavored), By Packaging (Cartons, Pouches, Bottles), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online and Grocery Stores), By Region, Competition

Plant-based Milk Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Soy Milk, Coconut Milk, Almond Milk, Rice Milk, Others (Oat Milk, etc.), By Category (Flavored Vs Non-Flavored), By Packaging (Cartons, Pouches, Bottles), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online and Grocery Stores), By Region, Competition

The global plant-based milk market is anticipated to project robust growth in the forecast period because of increasing lactose intolerance among people, innovative offerings by market players globally, etc. Vegan milk is a type of plant-based milk that is free of dairy components. It can be produced from soy, rice, almond, hemp, coconut milk, etc. Vegan milk, as opposed to conventional cow's milk, typically contains less fat and less cholesterol.
Moreover, plant-based alternative companies are partnering with various artificial intelligence companies to bring innovations into their products. For instance, in 2020, Danone North America partnered with Brightseed, a biomedical artificial intelligence company, to explore the health benefits of plants. Also, companies are taking initiatives to spread awareness regarding these products among consumers. For instance, Danone has planned to allocate USD15 million over the next seven years to partner with retailers on healthy eating education and USD7 million to improve access to nutritious foods through community-based programs. These initiatives will further encourage consumers to purchase these products. Also, according to the Plant Based Foods Association, plant-based milk accounts for around 16% of all retail milk sales in the United States.
Rising Health Consciousness Fueling the Market Growth
The growing health consciousness among individuals, particularly after the COVID-19 pandemic situation, is prompting consumers to shift to plant-based milk as well as plant-based milk products since they offer various advantages such as they are rich in vitamins and minerals, low in fat, they do not contain cholesterol and are perfect for people with the low digestive system. Also, another main reason prompting people to shift to vegan milk is the increasing lactose intolerance. Approximately 65% of the adult human population has some lactose intolerance, which causes abdominal pain and other gastrointestinal consequences after consuming dairy products. According to the National Institutes of Health (NIH), approximately 70 and 100% of adults of East Asian descent have lactose intolerance. Hence, this factor is anticipated to further fuel the market growth of plant-based milk worldwide.
New Product Launches Offerings Aiding the Market Growth
Various companies are focusing on launching new products and expanding their product portfolios to cater to the growing demand for plant-based milk from consumers. For instance, in 2021, Alt foods, an Indian plant-based dairy startup, launched plant-based milk made with ingredients such as sprouted sorghum, sprouted finger millets, amaranth, and oats. Additionally, several FMCG companies are offering products containing plant-based milk to customers. For instance, in 2021, Dunkin' launched coconut milk on its menu. The coffee company introduced two new coconut milk-based beverages: the Dunkin' Coconut Refreshers and the Coconut milk Iced Latte.
Similarly, in 2021, Starbucks launched plant-based oat milk bottled coffee beverages. It is a ready-to-drink version of a vegan drink. Moreover, several market players focus on investing and reformulating their products to expand their consumer base. For instance, in 2022, Danone North America announced it would invest USD22 million in new health and wellness initiatives, including reformulating 70% of its plant-based milk alternatives with healthier ingredients.
Ease of Availability Boosting the Market Growth
The accessibility of procuring raw materials such as coconut, soy, almonds, etc., particularly in emerging countries, is anticipated to contribute to the growing demand of this market. According to the FAO (Food and Agriculture Organization), Indonesia is the world's largest coconut producer. These products are readily available to consumers as well. Various plant-based milk companies are offering their products online, making it convenient for consumers to purchase these products.

Market Segmentation
The global plant-based milk market is segmented based on type, category, packaging, distribution channel, region, and competitional landscape. Based on type, the market is further fragmented into soy milk, coconut milk, almond milk, rice milk, others (oat milk, etc.) It is also segmented on the basis of category, in terms of flavored vs non flavored milk. Based on packaging, it is segmented into cartons, pouches and bottles. Based on distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online and grocery stores. The market analysis also studies the regional segmentation to devise regional
Market Segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Company Profiles
Danone S.A., Plamil Foods Ltd, Hain Celestial Group, Inc., Australian Health and Nutrition Association Ltd, Earth’s Own Food Company Inc., Campbell Soup Company, SunOpta Grains and Foods Inc, Sahmyook Foods, Blue Diamond Growers, and Califia Farms, LLC are among the major market players in the global platform that lead the market growth of the global Plant-based Milks market. Various companies are offering a wide variety of Plant-based Milks in different flavors such as chocolate, strawberry, etc.

Report Scope:
In this report, the global plant-based milk market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
•Plant-based Milk Market, By Type:
oSoy Milk
oCoconut Milk
oAlmond Milk
oRice Milk
oOthers
•Plant-based Milk Market, By Category:
oFlavored
oNon-Flavored
•Plant-based Milk Market, By Packaging:
oCartons
oPouches
oBottles
•Plant-based Milk Market, By Distribution Channel:
oSupermarkets/Hypermarkets
oConvenience Stores
oSpecialty Stores
oOnline
oGrocery Stores
•Plant-based Milk Market, By Region:
oNorth America
The United States
Canada
Mexico
oEurope
France
Germany
United Kingdom
Italy
Spain
oAsia-Pacific
China
India
Japan
South Korea
Australia
oMiddle East & Africa
Saudi Arabia
South Africa
UAE
Turkey
oSouth America
Brazil
Argentina
Colombia
Competitive Landscape

Competitive Landscape Detailed analysis of the major companies present in the global plant-based milk market.

Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
•Detailed analysis and profiling of additional market players (up to five).
Table of Contents

1.Introduction
1.Table of Contents

1.Product Overview
1.2.Key Highlights of the Report
1.3.Market Coverage
1.4.Market Segments Covered
1.5.Research Tenure Considered
2.Research Methodology
2.1.Objective of the Study
2.2.Baseline Methodology
2.3.Key Industry Partners
2.4.Major Association and Secondary Sources
2.5.Forecasting Methodology
2.6.Data Triangulation & Validation
2.7.Assumptions and Limitations
3.Executive Summary
3.1.Market Overview
3.2.Market Forecast
3.3.Key Regions
3.4.Key Segments
4.Voice of Customer Analysis (B2C Model Analysis)
4.1.Sample Size Determination
4.1.1.Respondent Demographics
4.1.2.By Gender
4.1.3.By Age
4.1.4.By Occupation
4.2.Brand Awareness
4.3.Frequency of Purchase
4.4.Factors Influencing Purchase Decision
4.5.Brand Satisfaction
4.6.Customer Satisfaction
4.7.Challenges Faced Post Purchase
5.Global Plant-based Milk Market Outlook
5.1.Market Size & Forecast
5.1.1.By Value
5.2.Market Share & Forecast
5.2.1.By Type Market Share Analysis (Soy Milk, Coconut Milk, Almond Milk, Rice Milk, Others (Oat milk, etc.)
5.2.2.By Category Market Share Analysis (Flavored Vs Non-flavored)
5.2.3.By Packaging Market Share Analysis (Cartons, Pouches, Bottles)
5.2.4.By Distribution Channel Market Share Analysis (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online and Grocery Stores)
5.2.5.By Regional Market Share Analysis
5.2.5.1.North America Market Analysis
5.2.5.2.South America Market Analysis
5.2.5.3.Middle East & Africa Market Analysis
5.2.5.4.Europe Market Analysis
5.2.5.5.Asia -Pacific Market Analysis
5.2.6.By Company Market Share Analysis
5.3.Global Plant-based Milk Market Mapping & Opportunity Assessment
5.3.1.By Type Market Mapping & Opportunity Assessment
5.3.2.By Category Market Mapping & Opportunity Assessment
5.3.3.By Packaging Market Mapping & Opportunity Assessment
5.3.4.By Distribution Channel Market Mapping & Opportunity Assessment
5.3.5.By Regional Market Mapping & Opportunity Assessment
6.North America Plant-based Milk Market Outlook
6.1.Market Size & Forecast
6.1.1.By Value
6.2.Market Share & Forecast
6.2.1.By Type Market Share Analysis
6.2.2.By Category Market Share Analysis
6.2.3.By Packaging Market Share Analysis
6.2.4.By Distribution Channel Market Share Analysis
6.2.5.By Country
6.2.5.1.United States Plant-based Milk Market Outlook
6.2.5.1.1.Market Size & Forecast
6.2.5.1.1.1.By Value
6.2.5.1.2.Market Share & Forecast
6.2.5.1.2.1.By Type Market Share Analysis
6.2.5.1.2.2.By Packaging Market Share Analysis
6.2.5.1.2.3.By Distribution Channel Market Share Analysis
6.2.5.2.Canada Plant-based Milk Market Outlook
6.2.5.2.1.Market Size & Forecast
6.2.5.2.1.1.By Value
6.2.5.2.2.Market Share & Forecast
6.2.5.2.2.1.By Type Market Share Analysis
6.2.5.2.2.2.By Packaging Market Share Analysis
6.2.5.2.2.3.By Distribution Channel Market Share Analysis
6.2.5.3.Mexico Plant-based Milk Market Outlook
6.2.5.3.1.Market Size & Forecast
6.2.5.3.1.1.By Value
6.2.5.3.2.Market Share & Forecast
6.2.5.3.2.1.By Type Market Share Analysis
6.2.5.3.2.2.By Packaging Market Share Analysis
6.2.5.3.2.3.By Distribution Channel Market Share Analysis
7.Europe Plant-based Milk Market Outlook
7.1.Market Size & Forecast
7.1.1.By Value
7.2.Market Share & Forecast
7.2.1.By Type Market Share Analysis
7.2.2.By Category Market Share Analysis
7.2.3.By Packaging Market Share Analysis
7.2.4.By Distribution Channel Market Share Analysis
7.2.5.By Country
7.2.5.1.France Plant-based Milk Market Outlook
7.2.5.1.1.Market Size & Forecast
7.2.5.1.1.1.By Value
7.2.5.1.2.Market Share & Forecast
7.2.5.1.2.1.By Type Market Share Analysis
7.2.5.1.2.2.By Packaging Market Share Analysis
7.2.5.1.2.3.By Distribution Channel Market Share Analysis
7.2.5.2.Germany Plant-based Milk Market Outlook
7.2.5.2.1.Market Size & Forecast
7.2.5.2.1.1.By Value
7.2.5.2.2.Market Share & Forecast
7.2.5.2.2.1.By Type Market Share Analysis
7.2.5.2.2.2.By Packaging Market Share Analysis
7.2.5.2.2.3.By Distribution Channel Market Share Analysis
7.2.5.3.United Kingdom Plant-based Milk Market Outlook
7.2.5.3.1.Market Size & Forecast
7.2.5.3.1.1.By Value
7.2.5.3.2.Market Share & Forecast
7.2.5.3.2.1.By Type Market Share Analysis
7.2.5.3.2.2.By Packaging Market Share Analysis
7.2.5.3.2.3.By Distribution Channel Market Share Analysis
7.2.5.4.Italy Plant-based Milk Market Outlook
7.2.5.4.1.Market Size & Forecast
7.2.5.4.1.1.By Value
7.2.5.4.2.Market Share & Forecast
7.2.5.4.2.1.By Type Market Share Analysis
7.2.5.4.2.2.By Packaging Market Share Analysis
7.2.5.4.2.3.By Distribution Channel Market Share Analysis
7.2.5.5.Spain Kingdom Plant-based Milk Market Outlook
7.2.5.5.1.Market Size & Forecast
7.2.5.5.1.1.By Value
7.2.5.5.2.Market Share & Forecast
7.2.5.5.2.1.By Type Market Share Analysis
7.2.5.5.2.2.By Packaging Market Share Analysis
7.2.5.5.2.3.By Distribution Channel Market Share Analysis
8.Asia-Pacific Plant-based Milk Market Outlook
8.1.Market Size & Forecast
8.1.1.By Value
8.2.Market Share & Forecast
8.2.1.By Type Market Share Analysis
8.2.2.By Category Market Share Analysis
8.2.3.By Packaging Market Share Analysis
8.2.4.By Distribution Channel Market Share Analysis
8.2.5.By Country
8.2.5.1.China Plant-based Milk Market Outlook
8.2.5.1.1.Market Size & Forecast
8.2.5.1.1.1.By Value
8.2.5.1.2.Market Share & Forecast
8.2.5.1.2.1.By Type Market Share Analysis
8.2.5.1.2.2.By Packaging Market Share Analysis
8.2.5.1.2.3.By Distribution Channel Market Share Analysis
8.2.5.2.India Plant-based Milk Market Outlook
8.2.5.2.1.Market Size & Forecast
8.2.5.2.1.1.By Value
8.2.5.2.2.Market Share & Forecast
8.2.5.2.2.1.By Type Market Share Analysis
8.2.5.2.2.2.By Packaging Market Share Analysis
8.2.5.2.2.3.By Distribution Channel Market Share Analysis
8.2.5.3.Japan Plant-based Milk Market Outlook
8.2.5.3.1.Market Size & Forecast
8.2.5.3.1.1.By Value
8.2.5.3.2.Market Share & Forecast
8.2.5.3.2.1.By Type Market Share Analysis
8.2.5.3.2.2.By Packaging Market Share Analysis
8.2.5.3.2.3.By Distribution Channel Market Share Analysis
8.2.5.4.South Korea Plant-based Milk Market Outlook
8.2.5.4.1.Market Size & Forecast
8.2.5.4.1.1.By Value
8.2.5.4.2.Market Share & Forecast
8.2.5.4.2.1.By Type Market Share Analysis
8.2.5.4.2.2.By Packaging Market Share Analysis
8.2.5.4.2.3.By Distribution Channel Market Share Analysis
8.2.5.5.Australia Plant-based Milk Market Outlook
8.2.5.5.1.Market Size & Forecast
8.2.5.5.1.1.By Value
8.2.5.5.2.Market Share & Forecast
8.2.5.5.2.1.By Type Market Share Analysis
8.2.5.5.2.2.By Packaging Market Share Analysis
8.2.5.5.2.3.By Distribution Channel Market Share Analysis
9.Middle East & Africa Plant-based Milk Market Outlook
9.1.Market Size & Forecast
9.1.1.By Value
9.2.Market Share & Forecast
9.2.1.By Type Market Share Analysis
9.2.2.By Category Market Share Analysis
9.2.3.By Packaging Market Share Analysis
9.2.4.By Distribution Channel Market Share Analysis
9.2.5.By Country
9.2.5.1.Saudi Arabia Plant-based Milk Market Outlook
9.2.5.1.1.Market Size & Forecast
9.2.5.1.1.1.By Value
9.2.5.1.2.Market Share & Forecast
9.2.5.1.2.1.By Type Market Share Analysis
9.2.5.1.2.2.By Packaging Market Share Analysis
9.2.5.1.2.3.By Distribution Channel Market Share Analysis
9.2.5.2.South Africa Plant-based Milk Market Outlook
9.2.5.2.1.Market Size & Forecast
9.2.5.2.1.1.By Value
9.2.5.2.2.Market Share & Forecast
9.2.5.2.2.1.By Type Market Share Analysis
9.2.5.2.2.2.By Packaging Market Share Analysis
9.2.5.2.2.3.By Distribution Channel Market Share Analysis
9.2.5.3.UAE Plant-based Milk Market Outlook
9.2.5.3.1.Market Size & Forecast
9.2.5.3.1.1.By Value
9.2.5.3.2.Market Share & Forecast
9.2.5.3.2.1.By Type Market Share Analysis
9.2.5.3.2.2.By Packaging Market Share Analysis
9.2.5.3.2.3.By Distribution Channel Market Share Analysis
9.2.5.4.Turkey Plant-based Milk Market Outlook
9.2.5.4.1.Market Size & Forecast
9.2.5.4.1.1.By Value
9.2.5.4.2.Market Share & Forecast
9.2.5.4.2.1.By Type Market Share Analysis
9.2.5.4.2.2.By Packaging Market Share Analysis
9.2.5.4.2.3.By Distribution Channel Market Share Analysis
10. South America Plant-based Milk Market Outlook
10.1.Market Size & Forecast
10.1.1.By Value
10.2.Market Share & Forecast
10.2.1.By Type Market Share Analysis
10.2.2.By Category Market Share Analysis
10.2.3.By Packaging Market Share Analysis
10.2.4.By Distribution Channel Market Share Analysis
10.2.5.By Country
10.2.5.1.Brazil Plant-based Milk Market Outlook
10.2.5.1.1.Market Size & Forecast
10.2.5.1.1.1.By Value
10.2.5.1.2.Market Share & Forecast
10.2.5.1.2.1.By Type Market Share Analysis
10.2.5.1.2.2.By Packaging Market Share Analysis
10.2.5.1.2.3.By Distribution Channel Market Share Analysis
10.2.5.2.Argentina Plant-based Milk Market Outlook
10.2.5.2.1.Market Size & Forecast
10.2.5.2.1.1.By Value
10.2.5.2.2.Market Share & Forecast
10.2.5.2.2.1.By Type Market Share Analysis
10.2.5.2.2.2.By Packaging Market Share Analysis
10.2.5.2.2.3.By Distribution Channel Market Share Analysis
10.2.5.3.Colombia Plant-based Milk Market Outlook
10.2.5.3.1.Market Size & Forecast
10.2.5.3.1.1.By Value
10.2.5.3.2.Market Share & Forecast
10.2.5.3.2.1.By Type Market Share Analysis
10.2.5.3.2.2.By Packaging Market Share Analysis
10.2.5.3.2.3.By Distribution Channel Market Share Analysis
11.Market Dynamics
11.1.Drivers
11.1.1.1.Rising Health Consciousness
11.1.1.2.New Product Launches Offerings by Market Players
11.1.1.3.Ease of Availability Boosting the Market Growth
11.2.Challenges
11.2.1.High Price of the Product
11.2.2.Stringent Legal Inspections
12.Impact of COVID-19 on Global Plant-based Milks Market
12.1.Impact Assessment Model
12.1.1.Key Segments Impacted
12.1.2.Key Regions Impacted
12.1.3.Key Countries Impacted
12.1.4.Key Distribution Channel Impacted
13.Market Trends & Developments
13.1.Change in Tastes and Preferences
13.2.Growing Distribution Channels
13.3.Increasing Campaigns and Marketing Strategies
13.4.Ease of Availability Growing Vegan Population
13.5.Rising Awareness of Lactose Intolerance
14.Import & Export Analysis
14.1.Top 5 Exporting Countries
14.1.1.By Value
14.2.Top 5 Importing Countries
14.2.1.By Value
15.SWOT Analysis
15.1.Strength
15.2.Weakness
15.3.Opportunities
15.4.Threats
16.Porter’s Five Forces Model
16.1.Competition Landscape
16.2.Buyer Power
16.3.Supplier Power
16.4.Threat of New Entrants
16.5.Threat of Substitutes
17.Competitive Landscape
17.1.Competition Outlook
17.2.Company Profiles
17.2.1.Danone S.A.
17.2.1.1.Company Details
17.2.1.2.Product & Services
17.2.1.3.Financials (As Reported)
17.2.1.4.Key Market Focus & Geographical Presence
17.2.1.5.Recent Developments
17.2.1.6.Key Management Personnel
17.2.2.Plamil Foods Ltd
17.2.2.1.Company Details
17.2.2.2.Product & Services
17.2.2.3.Financials (As Reported)
17.2.2.4.Key Market Focus & Geographical Presence
17.2.2.5.Recent Developments
17.2.2.6.Key Management Personnel
17.2.3.Hain Celestial Group, Inc.
17.2.3.1.Company Details
17.2.3.2.Product & Services
17.2.3.3.Financials (As Reported)
17.2.3.4.Key Market Focus & Geographical Presence
17.2.3.5.Recent Developments
17.2.3.6.Key Management Personnel
17.2.4.Australian Health and Nutrition Association Ltd
17.2.4.1.Company Details
17.2.4.2.Product & Services
17.2.4.3.Financials (As Reported)
17.2.4.4.Key Market Focus & Geographical Presence
17.2.4.5.Recent Developments
17.2.4.6.Key Management Personnel
17.2.5.Earth’s Own Food Company Inc.
17.2.5.1.Company Details
17.2.5.2.Product & Services
17.2.5.3.Financials (As Reported)
17.2.5.4.Key Market Focus & Geographical Presence
17.2.5.5.Recent Developments
17.2.5.6.Key Management Personnel
17.2.6.Campbell Soup Company
17.2.6.1.Company Details
17.2.6.2.Product & Services
17.2.6.3.Financials (As Reported)
17.2.6.4.Key Market Focus & Geographical Presence
17.2.6.5.Recent Developments
17.2.6.6.Key Management Personnel
17.2.7.SunOpta Grains and Foods Inc
17.2.7.1.Company Details
17.2.7.2.Product & Services
17.2.7.3.Financials (As Reported)
17.2.7.4.Key Market Focus & Geographical Presence
17.2.7.5.Recent Developments
17.2.7.6.Key Management Personnel
17.2.8.Sahmyook Foods
17.2.8.1.Company Details
17.2.8.2.Product & Services
17.2.8.3.Financials (As Reported)
17.2.8.4.Key Market Focus & Geographical Presence
17.2.8.5.Recent Developments
17.2.8.6.Key Management Personnel
17.2.9.Blue Diamond Growers
17.2.9.1.Company Details
17.2.9.2.Product & Services
17.2.9.3.Financials (As Reported)
17.2.9.4.Key Market Focus & Geographical Presence
17.2.9.5.Recent Developments
17.2.9.6.Key Management Personnel
17.2.10.Califia Farms, LLC
17.2.10.1.Company Details
17.2.10.2.Product & Services
17.2.10.3.Financials (As Reported)
17.2.10.4.Key Market Focus & Geographical Presence
17.2.10.5.Recent Developments
17.2.10.6.Key Management Personnel
18.Strategic Recommendations/Action Plan
18.1.Key Focus Areas
18.2.Target Regions & Countries
18.3.Target Type
18.4.Target Distribution Channel
19.About Us & Disclaimer
(Note: The companies list can be customized based on the client requirements.)

Report Title: Plant-based Milk Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Soy Milk, Coconut Milk, Almond Milk, Rice Milk, Others (Oat Milk, etc.), By Category (Flavored Vs Non-Flavored), By Packaging (Cartons, Pouches, Bottles), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online and Grocery Stores), By Region, Competition


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