Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) --
The plant milk market valuation is estimated to reach USD 41 billion by 2032, as reported in a research study by Global Market Insights Inc.
The market is witnessing growth owing to the global awareness regarding sustainability and health-conscious lifestyles. There is increasing adoption of vegan diet among the population. With the cognizance of lactose intolerance and concerns about animal welfare, the demand for plant milk will surge. For instance, in pursuit of its mission to offer a healthier and cruelty-free alternative to traditional dairy products, Dancing Cow unveiled its latest product, Oatish oat milk, in March 2023. This launch marked a significant step for the company in contributing to the reduction of greenhouse gas emissions and supporting animal welfare.
Moreover, advancements in food technology have led to the development of a diverse range of plant-based milk products that closely mimic the taste and texture of dairy milk, appealing to a broader consumer base. The growing availability of plant milk options in retail outlets and the foodservice industry is also contributing to market demand.
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The plant milk market from the almond milk segment is predicted to witness substantial growth through 2032, due to its widespread popularity and nutritional benefits. Almond milk offers a creamy texture and a mild, nutty flavor, appealing to consumers seeking dairy alternatives. Rich in vitamins, minerals, and antioxidants, it is perceived as a nutritious dairy alternative. Its versatility in various culinary applications further enhances its appeal, boosting the segment revenue.
The pouches segment is poised for record a notable demand over 2023-2032, credited to the convenience and portability, allowing on-the-go consumption and single-serve options. The pouch packaging is lightweight and space-efficient, reducing transportation costs and environmental impact compared to traditional rigid packaging formats. It offers excellent barrier properties, ensuring product freshness and extending shelf-life without the need for preservatives, thus appealing to health-conscious consumers. Furthermore, pouch packaging offers versatility in branding and design, allowing companies to differentiate their products and engage with consumers effectively.
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Europe plant milk market size will expand significantly till 2032, attributed to the region's strong emphasis on sustainability, coupled with a growing health-conscious population. The government initiatives promoting environment-friendly products with the focus on reducing carbon emissions further favor product uptake. Additionally, the presence of established players and a robust distribution network contribute to the availability of plant milk products in supermarkets, health food stores, and online platforms, thereby augmenting the industry growth graph in Europe.
The notable companies operating in the global plant milk market are Plenish, Good Karma Foods, Rude Health, WestSoy (Silk), Eden Foods, Elmhurst 1922, Ripple Foods, So Delicious Dairy Free, Califia Farms, Oatly, and Danone among others.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
1.3.1 Data collection
1.4 Forecast parameters
1.5 Data validation
1.6 Data sources
1.6.1 Primary
1.6.2 Secondary
1.6.2.1 Paid sources
1.6.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Plant milk market 3600 synopsis, 2018 – 2032
2.2 Business trends
2.3 Source trends
2.4 Distribution channel trends
2.5 Formulation trends
2.6 Packaging trends
2.7 Regional trends
Chapter 3 Plant Milk Market Insights
3.1 Industry ecosystem analysis
3.1.1 Raw material analysis
3.1.2 Manufacturers
3.1.3 Distribution channel analysis
3.1.4 Profit margin analysis
3.1.5 Effect of COVID-19 on industry value chain
3.1.6 Vendor matrix
3.2 Raw material analysis
3.3 Technology landscape
3.4 Regulatory landscape
3.4.1 North America
3.4.2 Europe
3.4.3 APAC
3.4.4 Latin America
3.4.5 MEA
3.5 Pricing analysis
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East & Africa
3.5.6 Cost structure analysis, 2022
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Increasing demand for base and precious metals
3.6.1.2 Declining ore grades
3.6.1.3 Advancements in flotation technologies
3.6.2 Industry pitfalls & challenges
3.6.2.1 Volatile prices of raw materials
3.7 Innovation & sustainability
3.8 Growth potential analysis, 2022
3.9 Porters Analysis
3.9.1 Industry rivalry
3.9.2 Buyer power
3.9.3 Supplier power
3.9.4 Threat of new entrants
3.9.5 Threat of substitutes
3.10 PESTEL analysis
3.11 Impact of the Russia-Ukraine war on Plant Milk Market
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
