Global Plant Based Milk Market (Soy Milk, Almond Milk and Rice Milk): Insights, Trends and Forecast (2020-2024)

The Plant Based Milk Market is Expected to Reach US$21.52 Billion in 2024, Growing at a CAGR of 10.18%, for the Duration Spanning 2020-2024

The plant-based milk market is expected to reach US$21.52 billion in 2024, growing at a CAGR of 10.18%, for the duration spanning 2020-2024. The factors such as the expansion of the beverage industry, growing obese populace, increasing diabetic population, rapid urbanization, and increasing disposable income are expected to drive the market. However, the growth of the market would be challenged by concerns regarding beverage additives and lack of awareness among people about plant-based beverages. A few notable trends include increasing e-commerce retail sales, increasing rate of youth population and growing demand for Ready-to-Drink (RTD) tea and coffee.

The plant-based milk market is highly concentrated with soy and almond milk. Both the plant-based milk are preferably used by a lot of customers, who face problems regarding lactose intolerance. In addition, almond milk and soy milk exhibit amazing health benefits, which is why they are becoming popular among people, particularly fitness enthusiasts. The increasing popularity and admiration are raising the market demand for plant-based milk on a global scale.

The fastest-growing regional market in the Asia Pacific, due to the increased production as well as consumption of milk alternatives. China, being the largest sub-regional market in the Asia Pacific, accounted for the increased consumption of wide variants of plant-based milk. The availability of a range of flavors is also helping the Asia Pacific market to increase its market volume at significant rates over the years. Further, North America has also accounted for a considerable share in the global plant-based milk market, owing to the increased prevalence of lactose intolerance and the vegan population.

Scope of the report:

The report provides a comprehensive analysis of the global plant-based milk market.
The major regional markets (Asia Pacific, North America, and Europe), further segmented into China, the U.S., and Canada have also been analyzed.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (the Coca-Cola Company, PepsiCo. Keurig Dr. Pepper, Hain Celestial, SunOpta and Blue Diamond) are also presented in detail.

Key Target Audience:

Plant-based Milk Manufacturers
Raw Material Suppliers
End Users (Food & Beverage industry, Catering industry, Direct Users, etc.)
Industrial Consultants
Investment Banks
Government Bodies & Regulating Authorities

1. Overview

1.1 Introduction
1.2 Common Types of Plant-Based Milk
1.3 Nutritional Comparison of Plant-Based Milk with Dairy Milk
1.4 Physiochemical Properties of Plant-Based Milk
1.5 Processing of Plant-Based Milk

2. Global Market Analysis

2.1 Global Plant-Based Milk Market by Value
2.2 Global Plant-Based Milk Market Forecast by Value
2.3 Global Plant-Based Milk Market by Product Type
2.3.1 Global Soy Milk Market by Value
2.3.2 Global Soy Milk Market Forecast by Value
2.3.3 Global Almond Milk Market by Value
2.3.4 Global Almond Milk Market Forecast by Value
2.3.5 Global Rice Milk Market by Value
2.3.6 Global Rice Milk Market Forecast by Value
2.4 Global Plant-Based Milk Market Value by Region
2.5 Global Plant-Based Milk Market by Volume
2.6 Global Plant-Based Milk Market Forecast by Volume
2.7 Global Plant-Based Milk Market Volume by Region

3. Regional Market Analysis

3.1 Asia Pacific
3.1.1 Asia-Pacific Plant-Based Milk Market by Value
3.1.2 Asia-Pacific Plant-Based Milk Market Forecast by Value
3.1.3 Asia-Pacific Plant-Based Milk Market Value by Regions
3.1.4 China Plant-Based Milk Market Forecast by Value
3.1.5 Asia-Pacific Plant-Based Milk Market by Volume
3.1.6 Asia-Pacific Plant-Based Milk Market Forecast by Volume
3.1.7 Asia-Pacific Plant-Based Milk Market Volume by Regions
3.1.8 China Plant-Based Milk Market Forecast by Volume
3.2 North America
3.2.1 North America Plant-Based Milk Market by Value
3.2.2 North America Plant-Based Milk Market Forecast by Value
3.2.3 North America Plant-Based Milk Market Value by Region
3.2.4 The U.S. Plant-Based Milk Market by Value
3.2.5 The U.S. Plant-Based Milk Market Forecast by Value
3.2.6 The U.S. Plant-Based Milk Market Value by Product Type
3.2.7 The U.S. Almond Milk Market by Value
3.2.8 The U.S. Almond Milk Market Forecast by Value
3.2.9 The U.S. Soy Milk Market by Value
3.2.10 The U.S. Soy Milk Market Forecast by Value
3.2.11 Canada Plant-Based Milk Market by Value
3.2.12 Canada Plant-Based Milk Market Forecast by Value
3.2.13 North America Plant-Based Milk Market by Volume
3.2.14 North America Plant-Based Milk Market Forecast by Volume
3.2.15 North America Plant-Based Milk Market Volume by Region
3.2.16 The U.S. Plant-Based Milk Market Forecast by Volume
3.3 Europe
3.3.1 Europe Plant-Based Milk Market by Value
3.3.2 Europe Plant-Based Milk Market Forecast by Value
3.3.3 Europe Plant-Based Milk Market by Volume
3.3.4 Europe Plant-Based Milk Market Forecast by Volume
3.4 ROW
3.4.1 ROW Plant-Based Milk Market by Value
3.4.2 ROW Plant-Based Milk Market Forecast by Value
3.4.3 ROW Plant-Based Milk Market by Volume
3.4.4 ROW Plant-Based Milk Market Forecast by Volume

4. Market Dynamics

4.1 Growth Drivers
4.1.1 Expansion of Beverage Industry
4.1.2 Growing Obese Populace
4.1.3 Increasing Diabetic Population
4.1.4 Rapid Urbanization
4.1.5 Increasing Disposable Income
4.1.6 Availability of Wide Range of Variants and Flavors
4.2 Key Trends and Developments
4.2.1 Increasing E-Commerce Retail Sales
4.2.2 Increasing Rate of the youth population
4.2.3 Growing Demand for RTD (Ready to Drink) Tea and Coffee
4.2.4 Consumers are shifting towards Low-Calorie Drinks
4.2.5 Increasing Product Innovations
4.3 Challenges
4.3.1 Concerns Regarding Beverage Additives
4.3.2 Lack of Awareness among People about Plant-Based Beverages

5. Competitive Landscape

5.1 Global Market
5.1.1 Key Players – Revenue Comparison
5.1.2 Key Players – Market Capitalization Comparison

6. Company Profiles

6.1 PepsiCo
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategies
6.2 The Coca-Cola Company
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategies
6.3 Keurig Dr. Pepper
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 Business Strategies
6.4 Hain Celestial Group
6.4.1 Business Overview
6.4.2 Financial Overview
6.4.3 Business Strategies
6.5 SunOpta
6.5.1 Business Overview
6.5.2 Financial Overview
6.5.3 Business Strategies
6.6 Blue Diamond Growers
6.6.1 Business Overview
6.6.2 Financial Overview
6.6.3 Business Strategies

List of Figures