Global Plant Based Milk Market Size Likely to Grow at a CAGR of 7.5% By 2035

Market Size and Growth

The market size of global plant-based milk will be estimated at USD 22.5 billion in 2025 and is expected to grow to between USD 24.2 billion in 2026 and about USD 46.4 billion by 2035, with a current CAGR (compound annual growth rate) of 7.5% during the period of 2026 to 2035.

Plant Based Milk Market Revenue and Trends

Plant-based milk is a non-dairy milk alternative, which is generally produced by extracting nutrients from nuts, seeds, grains, or legumes and then adding them to pure water to create a milk-like product, which is similar to dairy milk regardless of flavor, taste, colloid chemistry, and functional characteristics. It has very many advantages over dairy milk, such as being non-dairy, non-farm, non-perishable, low cost, vegan, modern-lifestyle and health-conscious, low cholesterol, and environmentally friendly.

The global development trend of the plant-based milk industry is driven by a multispectrum of health-related, environment-related, and economics-related factors, such as a significant consumer-induced concern over the intolerances of lactose and allergies to milk protein, thus bringing more awareness of health promotion in low-cholesterol vegetable-originated products. Although there are some issues, such as high prices, limitations by regulations on patch-up labels, and stiff competition with dairy milk.

What are the Factors That Have a Significant Contribution to the Growth of the Plant Based Milk Market?

The prevalence of diabetes is a major factor contributing to the growth of the market for plant-based milk products. This is mainly due to the increasing demand for low-sugar, low-fat, and cholesterol-free products. According to the International Diabetes Federation (IDF), there are approximately 537 million adults living with diabetes worldwide. This number is expected to increase to 643 million by 2030 and 783 million by 2045. This shows the ever-increasing number of patients worldwide. Government statistics based on data provided by the Centers for Disease Control and Prevention (CDC) show that there are more than 37 million people living with diabetes in the USA.

Moreover, there are another 96 million adults living with prediabetes. According to the World Health Organization (WHO), diabetes is one of the main contributors to deaths worldwide. This is especially seen in low- and middle-income countries. This shows the impact of diabetes on human lives. Moreover, there are many people dying due to heart attacks and strokes, mainly due to high-fat and high-sugar content in milk products. This has led many people to turn towards plant-based milk products. Thus, due to all these factors, the market for plant-based milk products is growing.

Also, the expansion of retail and e-commerce channels is an important factor in the growth of the plant-based milk market, as it has a direct impact on consumers. The rapid expansion of organized retail channels such as supermarkets, hypermarkets, and convenience stores has provided plant-based milk manufacturers with more opportunities to gain more visibility for their products, as well as separate sections for dairy alternatives, thereby making it more convenient for consumers to explore and compare products.

The expansion of digital channels such as e-commerce, which include platforms such as Amazon and BigBasket, has greatly increased the reach of plant-based milk products, as consumers can now access and purchase various types of plant-based milk products from home. The expansion of quick commerce and D2C has greatly increased the rate of consumption of plant-based milk products, as it provides consumers with more options to purchase products quickly.

The expansion of e-commerce has also provided plant-based milk manufacturers with opportunities to launch niche products such as organic, unsweetened, and fortified plant-based milk products. The expansion of digital channels has also increased consumer awareness through various campaigns, thereby providing plant-based milk manufacturers with opportunities to drive more sales. The expansion of offline retail channels, combined with the expansion of e-commerce channels, has greatly increased the rate of consumption of plant-based milk products, thereby providing manufacturers with opportunities to drive more sales.

Regional Insights

The Asia Pacific held the highest market share in 2025. One of the major growth factors is the widespread occurrence of lactose intolerance among many countries, especially in China, India, and Southeast Asian countries, where the consumption of dairy products is naturally low, increasing consumption of plant derivatives. Moreover, there's an existing culture of drinking plant derivatives such as soy milk, which has been widely used over the years, making it easier for the newer drinks to be quickly accepted in the countries.

Besides, the European market is expected to grow at the highest CAGR during the forecast period. The growth is mainly fueled by the rise of vegan and flexitarian eating habits in countries like Germany, the UK, and France. One of the major growth drivers is the increased emphasis on sustainability by consumers in Europe as they pay a lot of attention to the carbon footprint of dairy production and the amount of resources used to produce different dairy products.

Report Scope

Recent Developments

• In April 2025, Maïzly is joining the plant-based milk category with the debut of its corn-based milk in the United States. The milk is offered in original and chocolate flavors. The corn-based milk is dairy-free and gluten-free. (https://www.foodbusinessnews.net/articles/27634-maizly-launches-plant-based-milk-in-us )

List of the prominent players in the Plant Based Milk Market:

• Alpro (Danone)
• Blue Diamond Growers
• Califia Farms LLC
• Daiya Foods Inc.
• Danone S.A.
• Earth's Own Food Company Inc.
• Eden Foods Inc.
• Elmhurst Milked Direct LLC
• Forager Project
• Freedom Foods Group Limited
• Good Karma Foods
• MALK Organics
• Oatly AB
• Pacific Foods of Oregon LLC
• Plenish
• Ripple Foods
• Others