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Global Plant-based Milk Market Outlook, 2026

  • ID: 5521838
  • Report
  • December 2021
  • Region: Global
  • 179 Pages
  • Bonafide Research

FEATURED COMPANIES

  • Califia Farms
  • Daiya Foods Inc
  • Kerry Inc.
  • Kite Hill
  • Nestle
  • Ripple Foods Inc.
Plant based milk is an alternative to Dairy Milk, which is made from base ingredients like Soy, Almond, Oat, Rice, Coconut, Cashew, Hazelnut, Hemp, Pea and others. It is of two types, Plain Milk or Flavoured Milk. Flavoured plant milks come in varied flavours like Chocolate, Strawberry, Vanilla, and Coffee, Hazelnut, Mocha, Berry, Banana, Coconut and others. The global climatic changes, increasing deforestation, lactose intolerance, gastric problems, indigestion and animal cruelty has led to a push to the vegan or plant based food products. Given this reasons, increasingly people around the globe are turning vegetarian, vegan, or even flexitarian. The vegan trend is in the air, due to its large presence over various social media platforms over the internet. It plays a pivotal role in luring the young demographics to turn to plant based milk.

According to the research report 'Global Plant Based Milk Market Outlook, 2026', the plant based milk market is expanding speedily to attain revenue of USD 25 Billion by the end of forecast period. The global plant based milk market is three times more than plant based meat market, which is prudent that plant based milk market is a matured market. The Asia Pacific milk market has exorbitant percentage in the Global Plant Based Milk Market as it is an agricultural land. By value, the plant based milk market is 50% to 60% of the Global Dairy Alternative Market. Soy milk is one of the oldest plant based milk and so it is widely available and has massive acceptance globally. Whereas, Almond milk has recently captivated, vital reason being soy milks allergenic property. The report analyses influential trends that are currently determining the growth of the market. It further, interprets important dynamics, such as the drivers, restraints, and opportunities for key market players and also the new entrants with the manufacturing of the plant based milk market. The analyses also state the upholding of the future status of the plant based milk market over the forecast period. A detailed overview of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the plant based milk market, along with their product portfolios, enhances the reliability of this extensive research study.

Growing number of population is turning vegan and the 2020 statistics shows there are 5% vegans, 20% flexitarian and 11% vegetarians around the globe. People in the western countries are more inclined towards plant based milk than the developing countries. Widespread awareness of consuming plant based foods and its positive impacts on health are a major driver for this market. Obesity is on the rise, globally irrespective of varied food cultures in different regions of the world. Plant based milk provides more energy, improves health, balances body weight and adds flavour to milk.

Middle East & Africa plant based milk market is in its nascent stage and so is an emerging market during the forecast period. Oat milk has paved its way to become one of the fastest growing markets during the forecast period with a power to cross over 10% market share globally. The other types of milk like Cashew milk, Hazelnut milk are also gaining traction in the market, as consumers are always on a spur to taste new variants. The flavoured plant based milk market is expected to grow enormously, as manufacturers are bringing new flavours on the shelf like Berry, Hazelnut, Coffee, Mocha and Coconut. While, Chocolate, Vanilla and Strawberry are well established and have succeeded in capturing majority of the market share. Online sales of plant based milks is rapidly expanding as they offer discount schemes and free home delivery options. Today’s busy consumers want to enjoy the easy accessible shopping through their luxury home space. Many one-stop shops have put themselves on the web to ease the purchasing process for the consumers. Leading supermarket chains have their own online shopping apps which further paves the market to succeed.

The COVID-19 pandemic has negatively impacted the world economy at large. Major economies were hit hard resulting in decline of GDP to a significant extent. The demand and supply chain disruption led to a decline of plant based milk market in 2020 to a noticeable point. With the tourism industry coming to an halt altogether, the plant based milk market being inversely related suffered. However, the pandemic is now being seen as an advantage to plant based food products, as consumers moving towards healthy food eating habits. Consumers want to refrain from any animal origin product due to spread of diseases.

Major Companies present in the market


The Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium Health and Wellbeing Company (Australia), Danone (France), Freedom Foods Group (Australia), Earth’s Own Food Company (Canada), Triballat Noyal (France), Valsoia S.p.A (Italy), Panos Brands (US), Melt Organic (US), Oatly (Sweden), Living Harvest Foods (US), Ripple Foods (US), Kite Hill (US), Califia Farms (US), Hudson River Foods Inc. (US), Daiya Foods Inc. (Canada), Pureharvest (Australia), Yoconut Dairy Free (US), and Yumbutter (US)

Considered in this report

  • Geography: Global
  • Base year: 2020
  • Estimated year: 2021
  • Forecast year: 2026

Aspects covered in this report

  • Global plant based milk market with its value and forecast along with its segments
  • Region-wise plant based milk market analysis
  • Various drivers and challenges
  • On-going trends and developments
  • Top profiled companies
  • Strategic recommendation

Regions covered in the report

  • North America
  • Europe
  • Latin America
  • Asia-Pacific
  • Middle-East & Africa

Types of milk in the report

  • Soy milk
  • Almond milk
  • Coconut milk
  • Rice milk
  • Oat milk
  • Other milk (Cashew, hazelnut, other)

Type of milk by formulation:

  • Plain milk
  • Flavoured milk

Type of milk by flavour:

  • Chocolate
  • Vanilla
  • Strawberry
  • Berry
  • Hazelnut
  • Others (Coffee, coconut, mocha)

By Sales Channel

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Online
  • Others (Airports, gas station, Cafes, Health shops)

The approach of the report


This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience


This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to plant based milk industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

This report would help you answer the following questions

  • What is the impact of social media on the Plant Based Milk Market?
  • What are the labelling guidelines for the plant based milk products?
  • Is the demand for flavoured plant based milk market on the rise?
  • Veganism is boosting the plant based milk market?
  • Which is the largest market for plant based milk?
  • At what rate the global plant based milk market will grow in 2021?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Califia Farms
  • Daiya Foods Inc
  • Kerry Inc.
  • Kite Hill
  • Nestle
  • Ripple Foods Inc.

1. Executive Summary2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Global Plant Based Milk Market Outlook
4.1. Market Size By Value
4.2. Market Share
4.2.1. By Company
4.2.2. By Source
4.2.3. By Formulation
4.2.4. By Flavoured
4.2.5. By Sales Channel
4.2.6. By Region
4.2.7. By Country
5. North America Plant Based Milk Market Outlook
5.1. Market Size By Value
5.2. Market Share
5.2.1. By Source
5.2.2. By Formulation
5.2.3. By Flavoured
5.2.4. By Sales Channel
5.2.5. By Country
5.3. US Plant Based Milk Market Outlook
5.3.1. Market Size By Value
5.3.2. Market Share
5.3.2.1. By Source
5.3.2.2. By Formulation
5.4. Canada Plant Based Milk Market Outlook
5.4.1. Market Size By Value
5.4.2. Market Share
5.4.2.1. By Source
5.4.2.2. By Formulation
5.5. Mexico Plant Based Milk Market Outlook
5.5.1. Market Size By Value
5.5.2. Market Share
5.5.2.1. By Source
5.5.2.2. By Formulation
6. Europe Plant Based Milk Market Outlook
6.1. Market Size By Value
6.2. Market Share
6.2.1. By Source
6.2.2. By Formulation
6.2.3. By Flavoured
6.2.4. By Sales Channel
6.2.5. By Country
6.3. Germany Plant Based Milk Market Outlook
6.3.1. Market Size By Value
6.3.3. Market Share
6.3.3.1. By Source
6.3.3.2. By Formulation
6.4. UK Plant Based Milk Market Outlook
6.4.1. Market Size By Value
6.4.2. Market Share
6.4.2.1. By Source
6.4.2.2. By Formulation
6.5. France Plant Based Milk Market Outlook
6.5.1. Market Size By Value
6.5.2. Market Share
6.5.2.1. By Source
6.5.2.2. By Formulation
6.6. Italy Plant Based Milk Market Outlook
6.6.1. Market Size By Value
6.6.2. Market Share
6.6.2.1. By Source
6.6.2.2. By Formulation
6.7. Spain Plant Based Milk Market Outlook
6.7.1. Market Size By Value
6.7.2. Market Share
6.7.2.1. By Source
6.7.2.2. By Formulation
6.8. Russia Plant Based Milk Market Outlook
6.8.1. Market Size By Value
6.8.2. Market Share
6.8.2.1. By Source
6.8.2.2. By Formulation
7. Asia Pacific Plant Based Milk Market Outlook
7.1. Market Size By Value
7.2. Market Share
7.2.1. By Source
7.2.2. By Formulation
7.2.3. By Flavoured
7.2.4. By Sales Channel
7.2.5. By Country
7.3. China Plant Based Milk Market Outlook
7.3.1. Market Size By Value
7.3.2. Market Share
7.3.2.1. By Source
7.3.2.2. By Formulation
7.4. Japan Plant Based Milk Market Outlook
7.4.1. Market Size By Value
7.4.2. Market Share
7.4.2.1. By Source
7.4.2.2. By Formulation
7.5. India Plant Based Milk Market Outlook
7.5.1. Market Size By Value
7.5.2. Market Share
7.5.2.1. By Source
7.5.2.2. By Formulation
7.6. Australia Plant Based Milk Market Outlook
7.6.1. Market Size By Value
7.6.2. Market Share
7.6.2.1. By Source
7.6.2.2. By Formulation
8. Latin America Plant Based Milk Market Outlook
8.1. Market Size By Value
8.2. Market Share
8.2.1. By Source
8.2.2. By Formulation
8.2.3. By Flavoured
8.2.4. By Sales Channel
8.2.5. By Country
8.3. Brazil Plant Based Milk Market Outlook
8.3.1. Market Size By Value
8.3.2. Market Share
8.3.2.1. By Source
8.3.2.2. By Formulation
8.4. Argentina Plant Based Milk Market Outlook
8.4.1. Market Size By Value
8.4.2. Market Share
8.4.2.1. By Source
8.4.2.2. By Formulation
8.5. Columbia Plant Based Milk Market Outlook
8.5.1. Market Size By Value
8.5.2. Market Share
8.5.2.1. By Source
8.5.2.2. By Formulation
9. Middle East & South Africa Plant Based Milk Market Outlook
9.1. Market Size by Value
9.2. Market Share
9.2.1. By Source
9.2.2. By Formulation
9.2.3. By Flavoured
9.2.4. By Sales Channel
9.2.5. By Country
9.3. Saudi Arabia Plant Based Milk Market Outlook
9.3.1. Market Size By Value
9.3.2. Market Share
9.3.2.1. By Source
9.3.2.2. By Formulation
9.4. United Arab Emirates Plant Based Milk Market Outlook
9.4.1. Market Size By Value
9.4.2. Market Share
9.4.2.1. By Source
9.4.2.2. By Formulation
9.5. South Africa Plant Based Milk Market Outlook
9.5.1. Market Size by Value
9.5.2. Market Share
9.5.2.1. By Source
9.5.2.2. By Formulation
10. Market Dynamics
10.1. Key Drivers
10.2. Key Challenges
11. Market Trends and Developments
11.1. Consumers demand for more Protein Content
11.2. Product Fortification
11.3. Vegan trend
11.4. Young Demographics
12. Company Profiles
12.1. Danone SA
12.2. The Hain Celestial
12.3. Sunopta Inc.
12.4. Oatly
12.5. Sahmyook Foods
12.6. Ripple Foods Inc.
12.7. Nestle
12.8. Elmhurst Milked Direct LLC
12.9. Pacific Foods of Oregon, LLC
12.10. The Döhler Group
12.11. Califia Farms
12.12. Kerry Inc
12.13. Daiya Foods Inc
13. Strategic Recommendations14. Disclaimer
List of Figures
Figure 1: Global Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 2: Global Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 3: Global Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 4: Global Plant Based Milk Market Share - By Flavoured (2020)
Figure 5: North America Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 6: North America Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 7: North America Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 8: North America Plant Based Milk Market Share - By Flavoured (2020)
Figure 9: US Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 10: US Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 11: US Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 12: Canada Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 13: Canada Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 14: Canada Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 15: Mexico Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 16: Mexico Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 17: Mexico Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 18: Europe Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 19: Europe Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 20: Europe Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 21: Europe Plant Based Milk Market Share - By Flavoured (2020)
Figure 22: Germany Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 23: Germany Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 24: Germany Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 25: UK Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 26: UK Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 27: UK Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 28: France Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 29: France Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 30: France Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 31: Italy Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 32: Italy Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 33: Italy Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 34: Spain Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 35: Spain Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 36: Spain Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 37: Russia Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 38: Russia Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 39: Russia Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 40: Asia Pacific Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 41: Asia Pacific Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 42: Asia Pacific Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 43: Asia Pacific Plant Based Milk Market Share - By Flavoured (2020)
Figure 44: China Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 45: China Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 46: China Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 47: Japan Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 48: Japan Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 49: Japan Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 50: India Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 51: India Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 52: India Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 53: Australia Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 54: Australia Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 55: Australia Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 56: Latin America Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 57: Latin America Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 58: Latin America Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 59: Latin America Plant Based Milk Market Share - By Flavoured (2020)
Figure 60: Brazil Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 61: Brazil Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 62: Brazil Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 63: Argentina Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 64: Argentina Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 65: Argentina Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 66: Columbia Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 67: Columbia Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 68: Columbia Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 69: Middle East & South Africa Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 70: Middle East & Africa Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 71: Middle East & Africa Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 72: Middle East & Africa Plant Based Milk Market Share - By Flavoured (2020)
Figure 73: Saudi Arabia Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 74: Saudi Arabia Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 75: Saudi Arabia Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 76: United Arab Emirates Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 77: United Arab Emirates Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 78: United Arab Emirates Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
Figure 79: South Africa Plant Based Milk Market Size - By Value 2015-2026F (In USD Million)
Figure 80: South Africa Plant Based Milk Market Share - By Source (2015, 2020 & 2026F)
Figure 81: South Africa Plant Based Milk Market Share - By Formulation (2015, 2020 & 2026F)
List of Tables
Table 1: Global Plant Based Milk Market Share - By Company (2020)
Table 2: Global Plant Based Milk Market Share - By Sales Channel (2015, 2020 & 2026F)
Table 3: Global Plant Based Milk Market Share - By Sales Channel In Revenue (USD Million)
Table 4: Global Plant Based Milk Market Share - By Region (2015, 2020 & 2026F)
Table 5: Global Plant Based Milk Market Share - By Country (2015, 2020 & 2026F)
Table 6: North America Plant Based Milk Market Share - By Sales Channel (Market Share)
Table 7: North America Plant Based Milk Market Share - By Sales Channel In Revenue (USD Million)
Table 8: North America Plant Based Milk Market Share - By Sales Channel (CAGR)
Table 9: North America Plant Based Milk Market Share By Value By Country (2015, 2020 & 2026F)
Table 10: Europe Plant Based Milk Market Share - By Sales Channel (2015, 2020 & 2026F)
Table 11: Europe Plant Based Milk Market Share - By Sales Channel In Revenue (USD Million)
Table 12: Europe Plant Based Milk Market Share - By Sales Channel (CAGR)
Table 13: Europe Plant Based Milk Market Share By Value By Country (2015, 2020 & 2026F)
Table 14: Asia Pacific Plant Based Milk Market Share - By Sales Channel (2015, 2020 & 2026F)
Table 15: Asia Pacific Plant Based Milk Market Share - By Sales Channel In Revenue (USD Million)
Table 16: Asia Pacific Plant Based Milk Market Share - By Sales Channel (CAGR)
Table 17: Asia Pacific Plant Based Milk Market Share By Value By Country (2015, 2020 & 2026F)
Table 18: Latin America Plant Based Milk Market Share - By Sales Channel (2015, 2020 & 2026F)
Table 19: Latin America Plant Based Milk Market Share - By Sales Channel (CAGR)
Table 20: Latin America Plant Based Milk Market Share - By Sales Channel In Revenue (USD Million)
Table 21: Latin America Plant Based Milk Market Share By Value By Country (2015, 2020 & 2026F)
Table 22: Middle East & Africa Plant Based Milk Market Share - By Sales Channel (2015, 2020 & 2026F)
Table 23: Middle East & Africa Plant Based Milk Market Share - By Sales Channel (CAGR)
Table 24: Middle East & Africa Plant Based Milk Market Share - By Sales Channel In Revenue (USD Million)
Table 25: Middle East & Africa Plant Based Milk Market Share By Value By Country (2015, 2020 & 2026F)
Table 26: Key Facts of Danone SA
Table 27: Key Facts of The Hain Celestial
Table 28: Key Facts of Sunopta Inc.
Table 29: Key Facts of Oatly
Table 30: Key Facts of Sahmyook Foods
Table 31: Key Facts of Nestle
Table 32: Key Facts of Elmhurst Milked Direct LLC
Table 33: Key Facts of Pacific Foods of Oregon, LLC
Table 34: Key Facts of The Dohler Group
Table 35: Key Facts of Califia Farms
Table 36: Key Facts of The Hain Celestial
Table 37: Key Facts of Daiya Foods Inc.
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Kerry Inc.
  • Califia Farms
  • Kite Hill
  • Ripple Foods Inc.
  • Nestle
  • Elmhurst Milked Direct LLC
  • Pacific Foods of Orego. LLC
  • The Döhler Group
  • SunOpta Inc.
  • The WhiteWave Foods Company
  • The Hain Celestial
  • Daiya Foods Inc
Note: Product cover images may vary from those shown