Milk Substitutes (Non dairy milk) Global Market Report 2024

The milk substitutes (non dairy milk) market size has grown rapidly in recent years. It will grow from $34.24 billion in 2023 to $39.15 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The expansion observed during the historical period can be credited to several factors, including the prevalence of health and wellness trends, increased awareness regarding lactose intolerance, the growing adoption of vegan and plant-based lifestyles, a wide range of product options available in the market, and rising concerns about environmental impact and ethical considerations.

The milk substitutes (non dairy milk) market size is expected to see rapid growth in the next few years. It will grow to $68.34 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. Forecasted growth is driven by rising plant-based protein demand, innovative product formulations, expanded distribution, culinary trends, and government regulations. Emerging trends include blended varieties, customization, wider distribution, health focus, and demand for premium barista-grade options.

The milk substitute market is experiencing growth due to an increasing consumer preference for vegan food. Awareness of animal abuse in dairy farms has led consumers to avoid animal-based products, driving the demand for vegan milk. Vegan milk, being cholesterol-free, rich in vitamin D and proteins, and providing more calcium than animal milk, has gained popularity. Sales of non-dairy milk in the USA have seen a substantial 61% growth over the last five years, according to a report by Mintel. The rising shift towards veganism and a growing emphasis on health consciousness are significant drivers for the milk substitute market.

The growth of the milk substitutes (non-dairy milk) market is further propelled by the increasing incidence of lactose intolerance. Lactose intolerance, a digestive condition causing difficulty in digesting lactose found in milk and dairy products, has driven the demand for milk substitutes among affected individuals. Approximately 30 million adult Americans are expected to be lactose intolerant to varying degrees in 2022, according to MedlinePlus, a US-based provider of consumer health information. The need for alternatives that meet individual preferences and nutritional needs supports the growth of milk substitutes.

The presence of highly toxic arsenic compounds in rice milk acts as a restraint on the milk substitute market. Rice milk, made from rice with elevated levels of arsenic, poses health risks, including the potential to cause cancer. Studies indicate that the mean value of arsenic in rice milk is 63%, highlighting the dangers associated with this milk substitute and creating concerns among consumers.

Non-dairy milk manufacturers are increasingly focusing on extending the longevity of their products, employing methods such as bacterial clarification to reduce bacterial growth. One effective technique is ultra-pasteurization, subjecting the milk to temperatures exceeding 280°F for at least 2 seconds, eliminating harmful bacteria and extending the shelf life to around 120 days. Companies such as SunOpta use ultra-pasteurization for soymilk, resulting in an extended shelf life of 12 months, while Pacific Foods applies the same technique for almond milk, offering a shelf life of about one year.

These non-dairy milk producers are subject to various regulations governing product quality, labeling, and other aspects. For example, in the EU, Regulation (EU) No 1169/2011 mandates providing nutritional information about food products to consumers. The regulation outlines protocols for nutritional labeling, presentation, advertising, and requires printed information to meet minimum font size standards. Additionally, allergens such as soy, nuts, gluten, and lactose must be clearly indicated for prepacked foods. Non-dairy products, such as milk substitutes, are required to clearly mention substitute ingredients.

In December 2022, Butterfly Equity, a US-based private food company, completed the acquisition of Milk Specialties Global for an undisclosed amount. This strategic move aims to expand, diversify, and enhance Butterfly's product portfolio by incorporating science-based nutritional dairy products and dairy protein ingredients, including non-dairy milk products. Milk Specialties Global, the acquired company, is a US-based manufacturer known for its production of milk replacers.

Major companies operating in the milk substitutes (non dairy milk) market report are Archer Daniels Midland Company, Nutriops S.L., WhiteWave Foods Company, Hain Celestial Group Inc., Blue Diamond Growers Inc., CP Kelco ApS, Organic Valley Cooperative, SunOpta Inc., Chobani LLC, Vitasoy International Holdings Limited, Oatly AB, Freedom Foods Group Limited, Sanitarium Health and Wellbeing Company, Valsoia S.p.A., Califia Farms LLC, Eden Foods Inc., Earth's Own Food Company, Daiya Foods Inc., Ripple Foods Inc., Miyoko's Creamery, Mariani Nut Co. Inc., Dohler GmbH, Panos Brands LLC, NadaMoo! LLC, Triballat Noyal SAS, Malk Organics Inc., Violife Foods Inc., Good Karma Foods LLC, Yofix Probiotics Inc., Elmhurst 1920 Inc., Pacific Foods of Oregon LLC, Silk North America LLC, So Delicious Dairy Free, Alpro (UK) Limited, Coconut Dream Inc., Dream Products LLC, Forager Project LLC, Happy Planet Foods Inc., Kite Hill Foods LLC, Milkadamia Inc., Mooala Brands LLC, Nutpods LLC, Rude Health Inc., Sproud Limited. North America was the largest region in the milk substitutes (nondairy milk) market in 2023. Western Europe was the second largest region in the global milk substitutes (nondairy milk) market share. The regions covered in the milk substitutes (non dairy milk) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

This market report categorizes the milk substitutes (non-dairy milk) industry into segments based on different types, including soy, almond, rice milk, and other variants. Furthermore, it is divided by applications, such as usage in food and beverages, and distribution channels encompassing supermarkets, hypermarkets, convenience stores, specialty stores, online retail, and others. Additionally, segmentation is done based on formulations, distinguishing between plain-sweetened, plain-unsweetened, flavored-sweetened, and other formulations.

The milk substitutes (non dairy milk) market research report is one of a series of new reports that provides milk substitutes (non dairy milk) market statistics, including milk substitutes (non dairy milk) industry global market size, regional shares, competitors with milk substitutes (non dairy milk) market share, detailed milk substitutes (non dairy milk) market segments, market trends and opportunities, and any further data you may need to thrive in the milk substitutes (non dairy milk) industry. This milk substitutes (non-dairy milk) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The countries covered in the milk substitutes (non dairy milk) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The milk substitutes (non-dairy milk) market consists of sales of soy milk, nut milk, oat milk, rice milk. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.