Dublin, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The "Plant Milk Market - Size & Forecasting to 2030" report has been added to ResearchAndMarkets.com's offering.
The global plant milk market in the COVID-19 period has been estimated to value USD 8,978.7 million in 2021, and is projected to reach USD 22,293.4 million by 2030 at a CAGR of 10.6%.
However, without the COVID-19 impact, plant milk market was estimated to value at USD 8,856.3 million in 2021 and reach USD 20,685.3 million by 2030 at a CAGR of 9.9% during the forecast period. Increasing customer awareness regarding vegan diet, and health benefits related with them is increasing the plant milk market growth.
Plant milk is extracted from sources like almonds, soy, oats, and coconut and rice is the best substitute for dairy milk and other animal milk present in the market. Due to plant milk, high nutritional values, and is rich in minerals and vitamins, carbohydrates, proteins plant milk is broadly accepted among customers. Plant milk has various applications in the dairy industry, food and beverage, and cosmetic industry. Due to increasing awareness towards plant milk and its nutritional values is possible to increase the plant milk market demand during the predicted period.
Due to the presence of various major plant milk manufacturers in North America, Europe, Asia Pacific, and Rest of the World the plant milk demand will increase. The major manufacturers of plant milk are Blue Diamond Growers (U.S.), Elmhurst Milked Direct LLC (U.S.), Ripple Foods (U.S.), Danone S.A. (France), and others.
Plant milk is expensive than dairy milk this factor will restrain the plant milk market growth during the forecast period. On the other hand, some of the plant based milk products contain less amount to calcium which is crucial for health.
Organic food and beverages have the potential to transform the business landscape in the complete dairy substitute market. Changing customer preferences have been oriented toward healthy food and beverages; this is attributed to an increase in awareness about the functional health advantages in the consumption of organic food products. Clean label food and beverages have been captivating customers worldwide, resulting in an increase in demand for organic ingredients.
COVID-19 continues to be a remarkable challenge for all businesses across the world. Plant based foods are now widely accepted by people from all around the globe. It provides a range of flavors in addition to being a good source of protein. As a result, most food firms have changed their production and marketing strategies to encourage it more than other conventional healthy foods. Due to various health and environmental concerns, the COVID-19 pandemic has encouraged many consumers to make shifting from animal based food to plant based food.
Plant based milk can be substituted for dairy milk in any beverage and cuisine. As a result, the need for plant based milk is growing around different sectors within the coffee shops from bakeries to the food industry. All these aforementioned factors drive the plant milk market growth.
The plant milk market has been segmented based on source, sales channel, formulation, packaging, category, form, end use, and region.
Key Topics Covered:
1. Market Abstract
2. Market Introduction
3. Research Practice
4. Key Related Data
4.1. Key Industry Trends
4.2. Technological Advancements
4.3. Guidelines & Regulations
4.4. Covid- 19 Impact on Plant Milk Market
5. Impact Factor Analysis
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Rise in Cases of Lactose Intolerance and Milk Allergies
5.1.1.1. Growth in Consumer Preference for a Vegan Diet
5.1.2. Restraints
5.1.2.1. High Cost Compared to Dairy Milk
5.1.3. Opportunities
5.1.3.1. Growing Demand for Additive Free, Chemical Free, and Non-Gmo Milk
5.1.4. Challenges
5.1.4.1. Stringent Regulatory Policy and Labeling
5.2. Porter's Five Forces Model
5.2.1. Threat of New Entrants: (Low)
5.2.2. Bargaining Power of Suppliers: (Low)
5.2.3. Intensity of Rivalry: (High)
5.2.4. Bargaining Power of Buyers: (High)
5.2.5. Threat of Substitute: (Low)
6. Market Development Analysis
6.1. Overview
6.2. New Product Development (2015-2021)
6.3. Expansion (2015-2021)
6.4. Mergers & Acquisitions (2015-2021)
7. Plant Milk Market, by Source
7.1. Introduction
7.2. Soy
7.3. Almond
7.4. Rice
7.5. Coconut
7.6. Others
8. Plant Milk Market, by Sales Channel
8.1. Introduction
8.2. Mainstream Stores
8.3. Speciality Stores
8.4. Others
9. Plant Milk Market, by Formulation
9.1. Introduction
9.2. Unsweetened
9.3. Sweetened
9.3.1. Chocolate
9.3.2. Vanilla
9.3.3. Strawberry
9.3.4. Coconut
9.3.5. Mocha
9.3.6. Berry
9.3.7. Hazelnut
9.3.8. Others
10. Plant Milk Market, by Packaging
10.1. Introduction
10.2. Carton Packaging
10.3. Bottles
10.4. Pouches
11. Plant Milk Market, by Category
11.1. Introduction
11.2. Organic
11.3. Conventional
12. Plant Milk Market, by Form
12.1. Introduction
12.2. Liquid
12.3. Powder
13. Plant Milk Market, by End Use
13.1. Introduction
13.2. Infant Formula
13.3. Dairy Products
13.3.1. Cheese
13.3.2. Yogurt
13.3.3. Butter
13.3.4. Spreads
13.3.5. Ice Cream
13.3.6. Frozen Dessert
13.4. Bakery & Confectionery
14. Plant Milk Market, Regional Analysis
15. Competitive Intelligence
15.1. Competitive Positioning
15.1.1. By Source
15.1.2. By Sales Channel
15.1.3. By Formulation
15.1.4. By Packaging
15.1.5. By Category
15.1.6. By Form
15.1.7. By End Use
15.1.8. Regional Reach Positioning
15.2. Major Investments in Last Five Years by Global Players
15.3. Competitor Benchmarking
15.4. Vendor Matrix
15.5. Competitive Leadership Outlook
16. Company Profiles
16.1. Blue Diamond Growers
16.1.1. Company Overview
16.1.2. Blue Diamond Growers: Financial Overview
16.1.3. Blue Diamond Growers: Product Overview
16.1.4. Blue Diamond Growers: SWOT Analysis
16.1.5. Blue Diamond Growers: Key Development
16.2. Natura Foods
16.2.1. Company Overview
16.2.2. Natura Foods: Product Overview
16.2.3. Natura Foods: SWOT Analysis
16.3. Elmhurst Milked Direct LLC
16.3.1. Company Overview
16.3.2. Elmhurst Milked Direct LLC: Product Overview
16.3.3. Elmhurst Milked Direct LLC: SWOT Analysis
16.3.4. Elmhurst Milked Direct LLC: Key Development
16.4. Ripple Foods
16.4.1. Company Overview
16.4.2. United Natural Foods, Inc.: Financial Overview
16.4.3. Ripple Foods: Product Overview
16.4.4. Ripple Foods: SWOT Analysis
16.4.5. Ripple Foods: Key Development
16.5. Danone S.A.
16.5.1. Company Overview
16.5.2. Danone S.A.: Financial Overview
16.5.3. Danone S.A.: Product Overview
16.5.4. Danone S.A.: SWOT Analysis
16.5.5. Danone S.A.: Key Development
16.6. Goodmylk Co.
16.6.1. Company Overview
16.6.2. Goodmylk Co.: Product Overview
16.6.3. Goodmylk Co.: SWOT Analysis
16.7. Earth's Own Food Company
16.7.1. Company Overview
16.7.2. Earth's Own Food Company: Product Overview
16.7.3. Earth's Own Food Company: SWOT Analysis
16.8. Califia Farms, LLC
16.8.1. Company Overview
16.8.2. Califia Farms, LLC: Product Overview
16.8.3. Califia Farms, LLC: SWOT Analysis
16.8.4. Califia Farms, LLC: Key Developments
16.9. Oatly Inc
16.9.1. Company Overview
16.9.2. Oatly Inc: Financial Overview
16.9.3. Oatly Inc: Product Overview
16.9.4. Oatly Inc: SWOT Analysis
16.9.5. Oatly Inc: Key Developments
16.10. Campbell Soup Company
16.10.1. Company Overview
16.10.2. Campbell Soup Company: Financial Overview
16.10.3. Campbell Soup Company: Product Overview
16.10.4. Campbell Soup Company: SWOT Analysis
16.10.5. Campbell Soup Company: Key Developments
16.11. Hain Celestial
16.11.1. Company Overview
16.11.2. Hain Celestial: Financial Overview
16.11.3. Hain Celestial: Product Overview
16.11.4. Hain Celestial: SWOT Analysis
16.12. Adm
16.12.1. Company Overview
16.12.2. Adm: Financial Overview
16.12.3. Adm: Product Overview
16.12.4. Adm: SWOT Analysis
16.12.5. Adm: Key Developments
17. Appendix
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