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Fast-Paced Growth in End-use Adoption to Propel Plant-based Milk Market Revenue Growth

The global meat and dairy sector is currently going through an unprecedented level of competition and disruption, mainly driven by the growth of viable plant-based alternatives. Major plant-based products are evolving as the perfect substitutes for animal-based products, as they contain the relevant nutritional composition. Growing consumption of plant-based food has also led to the adoption of plant-based milk products. Additionally, increasing popularity of soy milk, almond milk, and coconut milk is also flourishing the demand for plant-based milks. In developed countries, consumption of animal products places a heavy burden on the environment. This has resulted in an exponential rise in the consumption of plant-based food products. Moreover, consumers are also becoming more concerned regarding the discontented impact of animal-based products on the environment.

  • For instance, leading international organizations such as the WHO (World Health Organization), FAO (Food and Agriculture Organization of the United Nations), and IPCC (Intergovernmental Panel on Climate Change) all urge for a global shift to plant-based diets.

The global plant-based milk market has witnessed substantial growth over the past few years, and is estimated to rise at a steady CAGR of 4.5% during the forecast period.

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Key Takeaways from Plant-based Milk Market Study

  • By type, almond milk is projected to witness significant growth in the global plant-based milk market. The main reason is that it contains high fiber, calcium, vitamin, and other nutritional properties, which makes almond milk a premium health beneficial plant-based milk.
  • By flavor, the chocolate segment is acquiring a higher market value share among all the segments, attributable to the higher consumption and popularity of chocolate flavor.
  • Under the food & beverage industry segment of end use, the dairy & desserts sub-segment is witnessing a high market value share, owing to the high applicability of milk in dairy products.
  • Retail sales of plant-based milk products are expected to experience substantial growth over the forecast period. Rising health-consciousness along with growing consumer shift toward plant-based diets are some of the key factors that are positively impacting this growth.

“Manufactures in the plant-based milk market could gain extensive profits by offering their products to foodservice providers along with household/retail, due to the expected increase in the use of plant-based milk in the HoReCa sector and institutional catering. Moreover, increasing retail sales of plant-based milk is another growth factor aiding market growth. However, the growing impact of COVID-19 on various industries is expected to have a moderate impact on the plant-based milk market in the short term,” says a PMR analyst.

Plant-based Milk Market: Competitive Landscape

The plant-based milk market is fragmented in nature. Companies are offering plant-based milk products with diverse flavors and varieties to customers. With the utilization of advanced ingredients and state-of-the-art manufacturing techniques, companies are providing pioneering solutions in regards with plant-based milk.

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Explore More Valuable Insights on Global Plant-based Milk Market

Persistence Market Research, in its new report, offers an impartial analysis of the global plant-based milk market, presenting historical data (20152019) and estimation statistics for the forecast period of 20202030. The study offers compelling insights on the plant-based milk market based type (soy, almond, coconut, rice, oat, and others), end use (food & beverage industry, retail/household, and foodservice industry), flavor (original/unflavored and flavored), and distribution channel (business to business and business to consumer), across five regions.

About Food & Beverage Division at Persistence Market Research

The Food and Beverages team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

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Impact of COVID-19 on Plant-based Milk Market : Implications on Business

A latest market forecast report published by Transparency Market Research on the plant-based milk market includes the global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the global plant-based milk market has been estimated to be valued at ~ US$ 14 Bn in 2019, and is projected to increase at a CAGR of ~ 8%, to reach ~ US$ 30 Bn by 2029.

 

global plant based milk market segmentation

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Vegans & Vegetarians Demand Plant-based Milk and Milk Products

Consumers are becoming more sensitive and sympathetic towards animals, due to the conditions and environment in which they are raised and harvested. Animal welfare is one of the primary reasons for consumers opting for plant-based products, such as plant-based milk and other non-dairy alternatives.

  • According to the People for the Ethical Treatment of Animals organization (PETA), cows undergo genetic manipulation, and are treated with antibiotics and bovine growth hormones (BGH) so that they produce more than 18,000 pounds of milk a year (National Agriculture Statistics Service, 2004 Feb 17, “Milk Production” – The U.S. Department of Agriculture). The hormones used to increase the productivity and efficiency of cows adversely affect their health and surge the rate of congenital disabilities in their offspring.

Consumers are choosing safer plant-based milk due to rising food safety concerns related to the usage of hormones and different types of antibiotics in dairy-based products. Also, the number of people suffering from food-borne allergies and intolerances has led to the shift of consumer preference towards plant-based alternatives.

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Increasing gastrointestinal Problems Have Increased the Demand for Plant-based Milk and Plant-derived Probiotics

Growing functional disorders and organic gastrointestinal diseases are resulting in an increasing population that is suffering from improper gut health. The ever-increasing necessity to improve gut health has resulted in the consumption of probiotics that promote gut health, along with the consumption of plant-based milk. Plant-based milk is increasing in popularity due to its digestive and immune benefits, which help in preventing urinary and vaginal infections, and obesity.

Consciousness and alertness regarding the consumption of food products are currently moving to the idea of deep-rooted clearness. With improving technology, consumers now have access to smart labels, with the help of which, they can trail the journey of a food product and check against its individual potential. Consumers are nowadays compelling the food companies to increase the clearness of their products, going beyond ingredients, free-from status, and nutritional value. This is determined by the buyer’s continuously increasing demand to comprehend the product-related questions that they have in mind, such as from where and how the ingredients were obtained, till the end product.

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Big Names Investing in Smaller Plant-based Brands and Companies

The recent rush of big food companies obtaining or investing in smaller, independent brands is driving the push for the mainstream acceptance of plant-based milk. Danone, a leading food and beverage company, investing US$ 30 million in U.S. coconut water brand Harmless Harvest, and Coca-Cola Company acquiring Unilever’s AdeS plant-based beverage business, are examples of a few of the strategic moves that big companies have made to tap into the plant-based milk market.

Tedious Process of Regulatory Approval in the Plant-based Milk Market

Plant based products, including plant-based milk are facing legal and regulatory restraints, which may result in the declining popularity of plant-based milk products. Plant based milk is facing legal and regulatory inspection as industry associations prevent manufacturers from using labels and terms that consumers find more relative. For instance, in 2017, The European Court of Justice ruled that, plant-based milk and other plant-based items can’t be described using dairy terms, like milk, even though their plant-based origins are marked. In the same year, in the United States, a bill titled the ‘Dairy Pride Act’ was presented in the Senate, to prevent plant-based food manufacturers from using dairy names or terms. The Senate Committee has still not approved the bill. However, the dairy business is pushing hard to get the bill passed. Coming up with terms that resound with customers without aggravating trade groups will go far toward enabling the acceptance of plant-based foods.

Global Plant-based Milk Market: Segmentation

Plant-based Milk Market by Product

  • Soy Milk
  • Almond Milk
  • Coconut Milk
  • Rice Milk
  • Oat Milk
  • Others (Cashew and Hemp Seeds Milk)

Plant-based Milk Market by Nature

  • Organic
  • Conventional

Plant-based Milk Market by Formulation

  • Regular
  • Flavored

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Trending News Corona impact on Plant Based Milk Market Business Opportunities, Size, Growth, Trends and Manufacture Development Analysis, Current Trends and Growth Forecasts by 2025| Archer Daniels Midland, Nestle, WhiteWave Foods, Hain Celestial Group

width=350 Plant Based Milk Market 2020 – Updated for the impact of COVID-19
Chicago, United States,- Report Hive Research announces the release of the report Plant Based Milk Market Research Report by Top Keyplayers, by Type, by Application, – Global Forecast to 2025 – Cumulative Impact of COVID-19

Latest update on Plant Based Milk Market Analysis report published with extensive market research, Plant Based Milk Market growth analysis, and forecast by 2025. This report is highly predictive as it holds the overall market analysis of topmost companies into the Plant Based Milk industry. With the classified Plant Based Milk market research based on various growing regions, this report provides leading players portfolio along with sales, growth, market share, and so on.

The report highlights several significant features of the global Plant Based Milk market encompassing competitive landscape, segmentation analysis, and industry environment. It shows the scope of the market and a brief overview of the definition and description of the product or service. The potential factors that can bring the market to the upward direction have been mentioned in the report. With this report, companies, as well as individuals interested in this report, will get proven valuable guidelines and direction so that they consolidate their position in the market. The report assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the Plant Based Milk industry. Growth of the overall Plant Based Milk market has also been forecasted for the period 2020-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

 Plant Based Milk Market competition by top Manufacturers:<>

 
Archer Daniels Midland
Nestle
WhiteWave Foods
Hain Celestial Group
Daiya Foods

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The report provides insights on the following pointers:

  1. Plant Based Milk Market Penetration: Provides comprehensive information on the market offered by the key players
  2. Plant Based Milk Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets
  3. Plant Based Milk Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
  4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players
  5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments

NOTE:  Our team is studying Covid-19 impact analysis on various industry verticals and Country Level impact for a better analysis of markets and industries. The 2020 latest edition of this report is entitled to provide additional commentary on latest scenario, economic slowdown and COVID-19 impact on overall industry. Further it will also provide qualitative information about when industry could come back on track and what possible measures industry players are taking to deal with current situation.

Plant Based Milk Market Report covers the manufacturers’ data, including shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including Plant Based Milk market size, volume and value, as well as price data.
According to Research study, over the next five years the Plant Based Milkmarket will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2026, from US$ xx million in 2020. In particular, this report presents the global market share (sales and revenue) of key companies in Plant Based Milkbusiness.
Plant Based Milk market development trend, sales volume and sales value (million USD) forecast in regional market, the main regions are China, USA, Europe, India, Japan, Korea, South America, Southeast Asia.
Sales forecast by type/application from 2021-2026
Industry chain, downstream and upstream information is also included.
World trade was already slowing in 2019 before COVID 19 outbreak, weighed down by trade tensions and slowing economic growth, such as uncertainty generated from Brexit, the U.S.-China trade war, the Japan-South Korea trade war.
Trade is expected to fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the world, according to the study of WTO. The decline in exports has been mainly due to the ongoing global slowdown, which got aggravated due to the current Covid-19 crisis. The latter resulted in large scale disruptions in supply chains and demand resulting in cancellation of orders.
Researcher’s analysis shows that as China started reopening its economy, world exports initially recovered across the board. But estimates of the expected recovery in 2021 are uncertain, with outcomes depending largely on the duration of the outbreak and the effectiveness of the policy responses.

Plant Based Milk Market Classification by Types:

Legumes
Cereals
Nuts
Seeds
Other

Plant Based Milk Market Size by End-user Application:

Supermarkets and Hypermarkets
Specialist Retailers
Online Retailers
Other

Regional Analysis:
The report comprises of regional development status, covering all the major regions of the world. This regional status shows the size (in terms of value and volume), and price data for the global Plant Based Milk market. The development of the industry is assessed with information on the current status of the industry in various regions. Data type assessed concerning various regions includes capacity, production, market share, price, revenue, cost, gross, gross margin, growth rate, consumption, import, export, etc.

Regional coverage: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Some Main Reasons For Purchasing This Report:

Readers of this report will receive in-depth knowledge about the market.

Updated statistics offered on the global Plant Based Milk market report.

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It will help you to find prospective partners and suppliers.

It will assist and strengthen your company’s decision-making processes.

The research report of the Plant Based Milk market is predicted to accrue a significant remuneration portfolio by the end of the predicted time period. It includes parameters with respect to the Plant Based Milk market dynamics – incorporating varied driving forces affecting the commercialization graph of this business vertical and risks prevailing in the sphere. In addition, it also speaks about the Plant Based Milk Market growth opportunities in the industry.

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Major Highlights from Table of contents are listed below for quick lookup into Plant Based Milk Market report

  1. Executive summary
  2. Assumptions and Acronyms Used
  3. Research Methodology
  4. Market Overview
  5. Global Market Analysis and Forecast, by Types
  6. Global Market Analysis and Forecast, by Applications
  7. Global Market Analysis and Forecast, by Regions
  8. North America Market Analysis and Forecast
  9. Latin America Market Analysis and Forecast
  10. Europe Market Analysis and Forecast
  11. Asia Pacific Market Analysis and Forecast
  12. Middle East & Africa Market Analysis and Forecast
  13. Competition Landscape

In this report, Leading players of the global Plant Based Milk Market are analyzed taking into account their market share, recent developments, new product launches, partnerships, mergers or acquisitions, and markets served. We also provide an exhaustive analysis of their product portfolios to explore the products and applications they concentrate on when operating in the global Plant Based Milk Market. Furthermore, the report offers two separate market forecasts – one for the production side and another for the consumption side of the global Plant Based Milk Market. It also provides useful recommendations for new as well as established players of the global Plant Based Milk Market.

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