Plant-based Milk Market Size, Trends and Insights By Type (Soy Milk, Oat Milk, Coconut Milk, Almond Milk, Rice Milk, Others), By Form (Liquid, Powder), By Flavor (Unflavored, Flavored), By End-use (Infant Formula, Dairy Products, Bakery & Confectionary, Others), By Distribution Channel (Direct, Indirect), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | North America |
| Largest Market: | Asia-Pacific |
Major Players
- Groupe Danone.
- The Hain Celestial Group Inc.
- Pacific Foods of Oregon, Inc.
- Vitasoy International Holdings Limited.
- Turtle Mountain LLC.
- Others
Reports Description
According to Custom Market Insights (CMI), The Global Plant-based Milk Market was estimated at USD 13 billion in 2021 and is expected to reach USD 15 billion in 2022 and is anticipated to reach around USD 30 billion by 2030, growing at a CAGR of roughly 9% between 2022 and 2030.
Our research report offers a 360-degree view of the Plant-based Milk market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Plant-based Milk market.
- “Plant-based milk” is a beverage obtained from plants that look like milk. Water-based plant extracts are used to flavor and fragrance beverages made from non-dairy sources called “plant-based milk.” Plant-based milk typically has a creamy flavor when used as a substitute. There are around 17 different plant milk varieties; soy, almond, coconut, and oat are the most often consumed worldwide. Plant-based beverages have been referred to as “milk-like plant liquids” since the 13th century.
- These days, they are commonly referred to as non-dairy milk, vegan milk, alternative milk, or plant-based milk. For commercial purposes, plant-based beverages are frequently packaged in comparable and more affordable containers than those used for dairy milk; nevertheless, in the EU, they are not allowed to use the term “milk.” Across many civilizations, plant milk has been utilized as a beverage and a flavouring agent in both sweet and savoury meals, such as the use of coconut plant milk in curries.
- In addition, soy yoghurt, plant cream, vegan cheese, and ice cream alternatives are all made with plant milk. Before the commercial creation of “milk” made from legumes, beans, and nuts, plant-based combinations that resembled milk had been around for decades. In the northeastern United States, various Native American tribal groups made milk and infant formula from nuts.
- Although plant milk is frequently utilized as a substitute in Western countries, it has historically been consumed worldwide, particularly in areas where lactose sensitivity is more common. Many plant milk products try to match the proteins, vitamins, and lipids found in milk from nursing mammals. Because plant milk is produced using processed plant extracts and has a lower nutrient value than dairy milk, it is frequently fortified during manufacture to add precise doses of minerals, usually calcium and Vitamins A & D. Additionally, several countries have laws requiring the addition of specific nutrients, most frequently the vitamins A and D, to milk products.
Report Scope
The study’s focus is on Plant-based Milk Market analysis on a global scale, and market sizing includes the income generated by these products provided by different market players. In order to support the market projections and growth rates over the anticipated period of 2022-2030, the study additionally monitors important market factors, underlying growth influencers, and significant vendors active in the sector. The study also examines how COVID-19 has affected the ecology generally. The scope of the study includes market sizing and forecast for segmentation by type, form, flavor, end-use, distribution channel, and geography.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 13 Billion |
| Projected Market Size in 2030 | USD 30 Billion |
| Market Size in 2022 | USD 15 Billion |
| CAGR Growth Rate | 9% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Groupe Danone., The Hain Celestial Group Inc., Pacific Foods of Oregon Inc., Vitasoy International Holdings Limited. , Turtle Mountain LLC., Natura Foods, Sunopta Inc., Alpina Foods., Freedom Foods Group Ltd., Mc Cormick & Co., Goya Foods., Earth’s Own Food Company Inc., The Hershey Company., The Bridge s.r.l. Kaslink Foods Oy Ltd., Edward & Sons., Blue Diamond Growers Inc., Chef’s Choice Food Manufacturer Company Limited., Liwayway Holdings Company Limited, and Others |
| Key Segment | By Type, Form, Flavor, End-use, Distribution Channel, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Key Market Dynamics
- The increasing incidence of chronic lifestyle illnesses and intolerance to animal protein are two major factors influencing market expansion. Additionally, the global acceptance of vegan eating practices is fostering market expansion. There is a movement in people’s preferences for plant-based milk products worldwide due to increased consumer knowledge of animal health and the increase in people who are lactose intolerant globally. The market’s outlook has improved as a result.
- Additionally, creating innovative products like milk, eggs, and meat made from plants encourages growth. These foods taste almost identical to their equivalents made from animals and are rich in critical nutrients. Additional reasons are anticipated to fuel the industry even more, including extensive celebrity and athlete marketing campaigns to promote vegetarianism as a healthy lifestyle choice and the simplicity of product accessibility through an abundance of online retail channels.
- Demand for plant-based goods and dairy substitutes is rising as vegan diets, which fully forbid dairy foods or beverages, become more and more popular among young people and sports. Another issue keeping consumers away from animal-based products is their growing awareness of animal welfare.
- Such shifting patterns in consumer food consumption encourage the demand for plant-based foods and dairy substitutes. As a result, people who strictly adhere to vegan, gluten-free, or dairy-free diets have a very good option available to them, which in turn helps the market for plant-based milk grow. Therefore, the market expansion is being driven by these consumers’ demand for plant-based milk.
Soy Milk Segment to Witness Tremendous CAGR in the Plant-based Milk Market
- More and more lactose-intolerant persons and health-conscious consumers are driving the demand for soy milk and other plant-based dairy product varieties. Concerns over the harmful effects of drinking natural and non-dairy milk are emerging.
- The second-largest market share is predicted to belong to the coconut milk industry. Coconut dairy substitutes are frequently used in the bread, confectionery, and beverage industries because of their creamy, tropical flavor. The oil is frequently used in medicinal, cosmetic, and functional food products due to its antioxidant properties, which aid the body in fending off free radicals. These factors are projected to boost the sector into the global market during the study. In order to keep up with the current trend, both well-established companies and fresh start-ups are introducing new plant-based milk products.
Competitive Landscape
Product releases have become the dominant tactic used by market players. The market for plant-based milk is projected to see more product introductions as a result of the intense rivalry that is expected to arise.
This report includes a thorough study of the company profiles, including business segments, product portfolios, insights into key brands and growth strategies, SWOT and strategy analyses of the firms, as well as financial analysis and analyst insights on the major players in this market.
- 2021: Alpro, a Danone-owned company, revealed its newest investment for its UK production in Kettering. The company wants to improve its sustainability credentials while increasing the production capacity of its plant-based products for UK consumers.
- 2021: For a total estimated value of US$ 33 Mn, SunOpta announced that it had purchased the non-dairy beverage brands from the Hain Celestial Group in North America. The purchase of two plant-based beverage brands, Dream and WestSoy, was part of this acquisition.
List of the prominent players in the global Plant-based Milk market:
- Groupe Danone.
- The Hain Celestial Group Inc.
- Pacific Foods of Oregon, Inc.
- Vitasoy International Holdings Limited.
- Turtle Mountain LLC.
- Natura Foods, Sunopta Inc.
- Alpina Foods.
- Freedom Foods Group Ltd.
- Mc Cormick & Co., Goya Foods.
- Earth’s Own Food Company Inc.
- The Hershey Company.
- The Bridge s.r.l. Kaslink Foods Oy Ltd.
- Edward & Sons.
- Blue Diamond Growers, Inc.
- Chef’s Choice Food Manufacturer Company Limited.
- Liwayway Holdings Company Limited.
- Others
The global Plant-based Milk market is segmented as follows:
By Type
- Soy Milk
- Almond Milk
- Coconut Milk
- Cashew Milk
- Hemp Seed Milk
- Rice Milk
- Oat Milk
- Peanut Milk
- Pea Milk
- Hazelnut Milk
- Macadamia Milk
- Other Product Types (Spelt Milk, Banana)
By Form
- Liquid
- Powder
- By Category:
- Organic
- Conventional
By Flavor
- Original/Unflavored
- Flavored
- Chocolate
- Vanilla
- Strawberry
- Coconut
- Mocha
- Berry
- Hazelnut
- Other Flavors
By End-use
- Infant Formula
- Dairy Products
- Milk
- Cheese
- Yogurt
- Butter
- Spreads
- Ice Cream
- Frozen Dessert
- Bakery & Confectionary
- Milk & Milk-based Beverages
- Retail Sales
By Distribution Channel
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Store
- Departmental Store
- Traditional Store
- Specialty Store
- Online Retailers
- Other Sales Channel
By Region
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Plant-based Milk Market, (2022 – 2030) (USD Billion)
- 2.2 Global Plant-based Milk Market : snapshot
- Chapter 3. Global Plant-based Milk Market – Industry Analysis
- 3.1 Plant-based Milk Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rise in response to the increasing focus on health and wellness among consumers
- 3.2.2 Rising demand for milk derived from plant-based sources.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Type
- 3.7.2 Market attractiveness analysis By Form
- 3.7.3 Market attractiveness analysis By Flavor
- 3.7.4 Market attractiveness analysis By End-use
- 3.7.5 Market attractiveness analysis By Distribution Channel
- Chapter 4. Global Plant-based Milk Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Plant-based Milk Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Plant-based Milk Market – Type Analysis
- 5.1 Global Plant-based Milk Market overview: By Type
- 5.1.1 Global Plant-based Milk Market share, By Type, 2021 and 2030
- 5.2 Soy Milk
- 5.2.1 Global Plant-based Milk Market by Soy Milk, 2022 – 2030 (USD Billion)
- 5.3 Oat Milk
- 5.3.1 Global Plant-based Milk Market by Oat Milk, 2022 – 2030 (USD Billion)
- 5.4 Coconut Milk
- 5.4.1 Global Plant-based Milk Market by Coconut Milk, 2022 – 2030 (USD Billion)
- 5.5 Almond Milk
- 5.5.1 Global Plant-based Milk Market by Almond Milk, 2022 – 2030 (USD Billion)
- 5.6 Rice Milk
- 5.6.1 Global Plant-based Milk Market by Rice Milk, 2022 – 2030 (USD Billion)
- 5.7 Others
- 5.7.1 Global Plant-based Milk Market by Others, 2022 – 2030 (USD Billion)
- 5.1 Global Plant-based Milk Market overview: By Type
- Chapter 6. Global Plant-based Milk Market – Form Analysis
- 6.1 Global Plant-based Milk Market overview: By Form
- 6.1.1 Global Plant-based Milk Market share, By Form, 2021 and 2030
- 6.2 Liquid
- 6.2.1 Global Plant-based Milk Market by Liquid , 2022 – 2030 (USD Billion)
- 6.3 Powder
- 6.3.1 Global Plant-based Milk Market by Powder, 2022 – 2030 (USD Billion)
- 6.1 Global Plant-based Milk Market overview: By Form
- Chapter 7. Global Plant-based Milk Market – Flavor Analysis
- 7.1 Global Plant-based Milk Market overview: By Flavor
- 7.1.1 Global Plant-based Milk Market share, By Flavor, 2021 and 2030
- 7.2 Unflavored
- 7.2.1 Global Plant-based Milk Market by Unflavored, 2022 – 2030 (USD Billion)
- 7.3 Flavored
- 7.3.1 Global Plant-based Milk Market by Flavored, 2022 – 2030 (USD Billion)
- 7.1 Global Plant-based Milk Market overview: By Flavor
- Chapter 8. Global Plant-based Milk Market – End-use Analysis
- 8.1 Global Plant-based Milk Market overview: By End-use
- 8.1.1 Global Plant-based Milk Market share, By End-use, 2021 and 2030
- 8.2 Infant Formula
- 8.2.1 Global Plant-based Milk Market by Infant Formula, 2022 – 2030 (USD Billion)
- 8.3 Dairy Products
- 8.3.1 Global Plant-based Milk Market by Dairy Products, 2022 – 2030 (USD Billion)
- 8.4 Bakery & Confectionary
- 8.4.1 Global Plant-based Milk Market by Bakery & Confectionary, 2022 – 2030 (USD Billion)
- 8.5 Others
- 8.5.1 Global Plant-based Milk Market by Others, 2022 – 2030 (USD Billion)
- 8.1 Global Plant-based Milk Market overview: By End-use
- Chapter 9. Global Plant-based Milk Market – Distribution Channel Analysis
- 9.1 Global Plant-based Milk Market overview: By Distribution Channel
- 9.1.1 Global Plant-based Milk Market share, By Distribution Channel, 2021 and 2030
- 9.2 Direct
- 9.2.1 Global Plant-based Milk Market by Direct, 2022 – 2030 (USD Billion)
- 9.3 Indirect
- 9.3.1 Global Plant-based Milk Market by Indirect, 2022 – 2030 (USD Billion)
- 9.1 Global Plant-based Milk Market overview: By Distribution Channel
- Chapter 10. Plant-based Milk Industry – Regional Analysis
- 10.1 Global Plant-based Milk Industry Regional Overview
- 10.2 Global Plant-based Milk Industry Share, by Region, 2021 & 2030 (USD Billion)
- 10.3. North America
- 10.3.1 North America Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.3.1.1 North America Plant-based Milk Industry, by Country, 2022 – 2030 (USD Billion)
- 10.3.1 North America Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.4 North America Plant-based Milk Industry, by Type, 2022 – 2030
- 10.4.1 North America Plant-based Milk Industry, by Type, 2022 – 2030 (USD Billion)
- 10.5 North America Plant-based Milk Industry, by Form, 2022 – 2030
- 10.5.1 North America Plant-based Milk Industry, by Form, 2022 – 2030 (USD Billion)
- 10.6 North America Plant-based Milk Industry, by Flavor, 2022 – 2030
- 10.6.1 North America Plant-based Milk Industry, by Flavor, 2022 – 2030 (USD Billion)
- 10.7 North America Plant-based Milk Industry, by End-use, 2022 – 2030
- 10.7.1 North America Plant-based Milk Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.8 North America Plant-based Milk Industry, by Distribution Channel, 2022 – 2030
- 10.8.1 North America Plant-based Milk Industry, by Distribution Channel, 2022 – 2030 (USD Billion)
- 10.9. Europe
- 10.9.1 Europe Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.9.1.1 Europe Plant-based Milk Industry, by Country, 2022 – 2030 (USD Billion)
- 10.9.1 Europe Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.10 Europe Plant-based Milk Industry, by Type, 2022 – 2030
- 10.10.1 Europe Plant-based Milk Industry, by Type, 2022 – 2030 (USD Billion)
- 10.11 Europe Plant-based Milk Industry, by Form, 2022 – 2030
- 10.11.1 Europe Plant-based Milk Industry, by Form, 2022 – 2030 (USD Billion)
- 10.12 Europe Plant-based Milk Industry, by Flavor, 2022 – 2030
- 10.12.1 Europe Plant-based Milk Industry, by Flavor, 2022 – 2030 (USD Billion)
- 10.13 Europe Plant-based Milk Industry, by End-use, 2022 – 2030
- 10.13.1 Europe Plant-based Milk Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.14 Europe Plant-based Milk Industry, by Distribution Channel, 2022 – 2030
- 10.14.1 Europe Plant-based Milk Industry, by Distribution Channel, 2022 – 2030 (USD Billion)
- 10.15. Asia Pacific
- 10.15.1 Asia Pacific Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.15.1.1 Asia Pacific Plant-based Milk Industry, by Country, 2022 – 2030 (USD Billion)
- 10.15.1 Asia Pacific Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.16 Asia Pacific Plant-based Milk Industry, by Type, 2022 – 2030
- 10.16.1 Asia Pacific Plant-based Milk Industry, by Type, 2022 – 2030 (USD Billion)
- 10.17 Asia Pacific Plant-based Milk Industry, by Form, 2022 – 2030
- 10.17.1 Asia Pacific Plant-based Milk Industry, by Form, 2022 – 2030 (USD Billion)
- 10.18 Asia Pacific Plant-based Milk Industry, by Flavor, 2022 – 2030
- 10.18.1 Asia Pacific Plant-based Milk Industry, by Flavor, 2022 – 2030 (USD Billion)
- 10.19 Asia Pacific Plant-based Milk Industry, by End-use, 2022 – 2030
- 10.19.1 Asia Pacific Plant-based Milk Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.20 Asia Pacific Plant-based Milk Industry, by Distribution Channel, 2022 – 2030
- 10.20.1 Asia Pacific Plant-based Milk Industry, by Distribution Channel, 2022 – 2030 (USD Billion)
- 10.21. Latin America
- 10.21.1 Latin America Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.21.1.1 Latin America Plant-based Milk Industry, by Country, 2022 – 2030 (USD Billion)
- 10.21.1 Latin America Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.22 Latin America Plant-based Milk Industry, by Type, 2022 – 2030
- 10.22.1 Latin America Plant-based Milk Industry, by Type, 2022 – 2030 (USD Billion)
- 10.23 Latin America Plant-based Milk Industry, by Form, 2022 – 2030
- 10.23.1 Latin America Plant-based Milk Industry, by Form, 2022 – 2030 (USD Billion)
- 10.24 Latin America Plant-based Milk Industry, by Flavor, 2022 – 2030
- 10.24.1 Latin America Plant-based Milk Industry, by Flavor, 2022 – 2030 (USD Billion)
- 10.25 Latin America Plant-based Milk Industry, by End-use, 2022 – 2030
- 10.25.1 Latin America Plant-based Milk Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.26 Latin America Plant-based Milk Industry, by Distribution Channel, 2022 – 2030
- 10.26.1 Latin America Plant-based Milk Industry, by Distribution Channel, 2022 – 2030 (USD Billion)
- 10.27. The Middle-East and Africa
- 10.27.1 The Middle-East and Africa Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.27.1.1 The Middle-East and Africa Plant-based Milk Industry, by Country, 2022 – 2030 (USD Billion)
- 10.27.1 The Middle-East and Africa Plant-based Milk Industry, 2022 – 2030 (USD Billion)
- 10.28 The Middle-East and Africa Plant-based Milk Industry, by Type, 2022 – 2030
- 10.28.1 The Middle-East and Africa Plant-based Milk Industry, by Type, 2022 – 2030 (USD Billion)
- 10.29 The Middle-East and Africa Plant-based Milk Industry, by Form, 2022 – 2030
- 10.29.1 The Middle-East and Africa Plant-based Milk Industry, by Form, 2022 – 2030 (USD Billion)
- 10.30 The Middle-East and Africa Plant-based Milk Industry, by Flavor, 2022 – 2030
- 10.30.1 The Middle-East and Africa Plant-based Milk Industry, by Flavor, 2022 – 2030 (USD Billion)
- 10.31 The Middle-East and Africa Plant-based Milk Industry, by End-use, 2022 – 2030
- 10.31.1 The Middle-East and Africa Plant-based Milk Industry, by End-use, 2022 – 2030 (USD Billion)
- 10.32 The Middle-East and Africa Plant-based Milk Industry, by Distribution Channel, 2022 – 2030
- 10.32.1 The Middle-East and Africa Plant-based Milk Industry, by Distribution Channel, 2022 – 2030 (USD Billion)
- Chapter 11. Company Profiles
- 11.1 Groupe Danone.
- 11.1.1 Overview
- 11.1.2 Financials
- 11.1.3 Product Portfolio
- 11.1.4 Business Strategy
- 11.1.5 Recent Developments
- 11.2 The Hain Celestial Group Inc.
- 11.2.1 Overview
- 11.2.2 Financials
- 11.2.3 Product Portfolio
- 11.2.4 Business Strategy
- 11.2.5 Recent Developments
- 11.3 Pacific Foods of Oregon Inc.
- 11.3.1 Overview
- 11.3.2 Financials
- 11.3.3 Product Portfolio
- 11.3.4 Business Strategy
- 11.3.5 Recent Developments
- 11.4 Vitasoy International Holdings Limited.
- 11.4.1 Overview
- 11.4.2 Financials
- 11.4.3 Product Portfolio
- 11.4.4 Business Strategy
- 11.4.5 Recent Developments
- 11.5 Turtle Mountain LLC.
- 11.5.1 Overview
- 11.5.2 Financials
- 11.5.3 Product Portfolio
- 11.5.4 Business Strategy
- 11.5.5 Recent Developments
- 11.6 Natura Foods
- 11.6.1 Overview
- 11.6.2 Financials
- 11.6.3 Product Portfolio
- 11.6.4 Business Strategy
- 11.6.5 Recent Developments
- 11.7 Sunopta Inc.
- 11.7.1 Overview
- 11.7.2 Financials
- 11.7.3 Product Portfolio
- 11.7.4 Business Strategy
- 11.7.5 Recent Developments
- 11.8 Alpina Foods.
- 11.8.1 Overview
- 11.8.2 Financials
- 11.8.3 Product Portfolio
- 11.8.4 Business Strategy
- 11.8.5 Recent Developments
- 11.9 Freedom Foods Group Ltd.
- 11.9.1 Overview
- 11.9.2 Financials
- 11.9.3 Product Portfolio
- 11.9.4 Business Strategy
- 11.9.5 Recent Developments
- 11.10 Mc Cormick & Co.
- 11.10.1 Overview
- 11.10.2 Financials
- 11.10.3 Product Portfolio
- 11.10.4 Business Strategy
- 11.10.5 Recent Developments
- 11.11 Goya Foods.
- 11.11.1 Overview
- 11.11.2 Financials
- 11.11.3 Product Portfolio
- 11.11.4 Business Strategy
- 11.11.5 Recent Developments
- 11.12 Earth’s Own Food Company Inc.
- 11.12.1 Overview
- 11.12.2 Financials
- 11.12.3 Product Portfolio
- 11.12.4 Business Strategy
- 11.12.5 Recent Developments
- 11.13 The Hershey Company.
- 11.13.1 Overview
- 11.13.2 Financials
- 11.13.3 Product Portfolio
- 11.13.4 Business Strategy
- 11.13.5 Recent Developments
- 11.14 The Bridge s.r.l. Kaslink Foods Oy Ltd.
- 11.14.1 Overview
- 11.14.2 Financials
- 11.14.3 Product Portfolio
- 11.14.4 Business Strategy
- 11.14.5 Recent Developments
- 11.15 Edward & Sons.
- 11.15.1 Overview
- 11.15.2 Financials
- 11.15.3 Product Portfolio
- 11.15.4 Business Strategy
- 11.15.5 Recent Developments
- 11.16 Blue Diamond Growers Inc.
- 11.16.1 Overview
- 11.16.2 Financials
- 11.16.3 Product Portfolio
- 11.16.4 Business Strategy
- 11.16.5 Recent Developments
- 11.17 Chef’s Choice Food Manufacturer Company Limited.
- 11.17.1 Overview
- 11.17.2 Financials
- 11.17.3 Product Portfolio
- 11.17.4 Business Strategy
- 11.17.5 Recent Developments
- 11.18 Liwayway Holdings Company Limited.
- 11.18.1 Overview
- 11.18.2 Financials
- 11.18.3 Product Portfolio
- 11.18.4 Business Strategy
- 11.18.5 Recent Developments
- 11.1 Groupe Danone.
List Of Figures
Figures No 1 to 36
List Of Tables
Tables No 1 to 127
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
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| Demand-side |
|
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|
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- Groupe Danone.
- The Hain Celestial Group Inc.
- Pacific Foods of Oregon, Inc.
- Vitasoy International Holdings Limited.
- Turtle Mountain LLC.
- Natura Foods, Sunopta Inc.
- Alpina Foods.
- Freedom Foods Group Ltd.
- Mc Cormick & Co., Goya Foods.
- Earth’s Own Food Company Inc.
- The Hershey Company.
- The Bridge s.r.l. Kaslink Foods Oy Ltd.
- Edward & Sons.
- Blue Diamond Growers, Inc.
- Chef’s Choice Food Manufacturer Company Limited.
- Liwayway Holdings Company Limited.
- Others
FAQs
“North American” region will lead the global Plant-based Milk market during the forecast period 2022 to 2030.
The key factors driving the market are rise in response to the increasing focus on health and wellness among consumers and rising demand for milk derived from plant-based sources.
The key players operating in the Plant-based Milk market are Groupe Danone., The Hain Celestial Group Inc., Pacific Foods of Oregon Inc., Vitasoy International Holdings Limited. , Turtle Mountain LLC., Natura Foods, Sunopta Inc., Alpina Foods., Freedom Foods Group Ltd., Mc Cormick & Co., Goya Foods., Earth’s Own Food Company Inc., The Hershey Company., The Bridge s.r.l. Kaslink Foods Oy Ltd., Edward & Sons., Blue Diamond Growers Inc., Chef’s Choice Food Manufacturer Company Limited., Liwayway Holdings Company Limited.
The global Plant-based Milk market is expanding growth with a CAGR of approximately 9% during the forecast period (2022 to 2030).
The global Plant-based Milk market size was valued at USD 13 Billion in 2021 and it is projected to reach around USD 30 billion by 2030.
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