Plant Milk Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

With more than 60% of the world’s population estimated to be lactose intolerant, plant-based milk is the ideal alternative. Moreover, the key benefits related to plant milk such as low land requirement, no impact on climate change, etc. are leading to the growing market.  As per FAO, the livestock sector is a significant contributor to climate change. The sector is responsible for about 16% of all anthropogenic greenhouse gas (GHG) emissions, with cattle producing 62 percent of livestock sector emissions. almond milk, with 0.7 kg CO2eq per liter, has the lowest greenhouse gas emissions, followed by oat milk, with 0.9 kg CO2eq, and soya milk, with 1 kg CO2eq. Moreover, dairy milk requires 4.2 times more land per half-gallon produced than plant-based alternatives do.

The Global Plant-Based Protein Market is burgeoning owing to the rising awareness of proteins benefits, increasing demand for protein-rich diet, snowballing consumers’ focus on meat alternatives, growing health & wellness trends. Moreover, the rising shift towards a vegan diet and emerging economics provide significant growth opportunities for plant-based protein manufacturers. As per Veganbits, 7.53 billion vegan people are living worldwide, out of which, 1.2 billion people are living in Africa.

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According to UnivDatos Market Insights (UMI)’ research report “Global Plant Milk Market Analysis, 2020”, a surge in the end user's disposable income is one of the leading factors that is contributing to the growing market of Plant Milk, globally. Rising purchasing power in developing countries such as Australia, EU, Mexico, Brazil, India, Thailand, and China is projected to allow consumers to spend more on their health products including Plant Milks. As per OCED, the household spending in Canada, China, Denmark, European Union, France and Germany reached to 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 US$ million, respectively.

Based on the source, the soy plant milk segment acquired the major market share and dominated the global Plant Milk Market in 2020. Soya milk is the most popular plant milk, belongs to the legume-based category. It is the only milk alternative that naturally contains the same amount of protein as cow’s milk, with about 3 g per 100 ml.

Based on the sales channel, The specialty stores segment grabbed X% market share and dominated the market in 2020.  The advantages of specialty stores such as product demonstrations, a wide range of product categories, the assistance of skilled staff, and the immediate shipping of products are leading to the growing share. Moreover, specialty stores provide training to their employees to assist customers and a few of them also offer price-matching guarantees.

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Asia-Pacific to Grab Lion’s Share, But Europe to witness Explicit Growth

Based on the Region, the Asia-Pacific region dominated the global Plant Milk market in 2020., stated in UnivDatos Market Insights (UMI)’ research report “Global Plant Milk Market Analysis, 2020”. The market is propelled by increasing inclination toward vegan diets, the cost competitiveness offered by plant-based products, and their rising use in a wide variety of dairy products categories. The rising prevalence of obesity in the region also intensifies market growth. As per the ADB, in the Asia and Pacific region, two out of every five adults in the region are either overweight or obese. Furthermore, the presence of a large number of Buddhists and Hindus influencing vegetarianism in the Asia Pacific region is the key driver for the market growth. 

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Plant Milk Market are Groupe Danone, Pacific Foods of Oregon, Inc., The Hain Celestial Group Inc., Turtle Mountain LLC, Vitasoy International Holdings Limited., Natura Foods, Freedom Foods Group Ltd., Earth’s Own Food Company Inc., Mc Cormick & Co., The Hershey Co., etc, The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.  

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“Global Plant Milk Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the Plant Milk Market across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.  

 Market Segmentation:

1. By Source (Almond, Soy, Coconut, Rice, Others)
2. By Formulation (Regular, Flavored)
3. By Nature (Organic, Conventional)
4. By Sales Channel (Supermarket/hypermarket, Online Stores, Specialty Stores, Convenience Store, Others)
5. By Region (North America, Europe, Asia-Pacific, Rest of the World)
6. By Company (Groupe Danone, Pacific Foods of Oregon, Inc., The Hain Celestial Group Inc., Turtle Mountain LLC, Vitasoy International Holdings Limited., Natura Foods, Freedom Foods Group Ltd., Earth’s Own Food Company Inc., Mc Cormick & Co., The Hershey Co)

Key questions answered in the study:

1. What are the current and future trends of the global Plant Milk market industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Plant Milk market industry?
5. What are the customer orientation, purchase behavior, and expectations from the Plant Milk market firms across various regions?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL PLANT MILK MARKET COVID-19 IMPACT

6 GLOBAL PLANT MILK MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY SOURCE

8 MARKET INSIGHTS BY FORMULATION

9 MARKET INSIGHTS BY SALES CHANNEL

10 MARKET INSIGHTS BY NATURE

11 MARKET INSIGHTS BY REGION

12 PLANT MILK MARKET DYNAMICS

13 PLANT MILK MARKET OPPORTUNITIES

14 PLANT MILK MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

20 DISCLAIMER 

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