Plant Milk Market Introduction 

Plant milk refers to non-dairy milk made from plant-based sources such as soy, almond, coconut, rice, oats, and others. The plant-based milk is a popular alternative to traditional dairy milk due to its nutritional benefits and lower environmental impact. Plant milk is also preferred by individuals with lactose intolerance, dairy allergies, and those following a vegan or vegetarian lifestyle.The popularity of plant milk has grown significantly in recent years, driven by the increasing consumer preference for healthy and sustainable food choices. Plant milk is considered to be a good source of nutrients such as protein, vitamins, and minerals. It is also low in saturated fat, making it a healthier alternative to dairy milk.The plant milk market is growing rapidly, with a variety of options available in the market. The market includes both packaged and homemade plant milk products. The plant milk products are available in different flavors and are used in a variety of applications such as beverages, desserts, and cooking. The market is expected to continue to grow as more consumers seek out plant-based alternatives to traditional dairy milk.

Plant Milk Market Size

The global plant milk market size was valued at approximately USD 16 billion in 2020 and is expected to grow at a CAGR of around 11% during the forecast period of 2021-2028. The increasing consumer preference for plant-based products, the rise in vegan and vegetarian populations, and the growing awareness about the health benefits of plant milk are some of the factors driving market growth.

Among the different types of plant milk, soy milk holds the largest market share due to its high protein content and availability of fortified products. Almond milk is also a popular choice among consumers due to its nutty flavor and low calorie count. The market for oat milk and coconut milk is also growing rapidly, driven by the rising demand for dairy-free and gluten-free alternatives.

Geographically, North America holds the largest market share due to the increasing adoption of vegan and vegetarian diets, and the availability of a variety of plant-based products in the region. The European market is also growing rapidly, driven by the increasing awareness about the environmental impact of animal agriculture and the growing demand for sustainable food choices. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, driven by the rising population, increasing disposable income, and growing awareness about plant-based products.

Overall, the plant milk market is expected to continue to grow as more consumers switch to plant-based diets and seek out healthier and sustainable food choices.

Plant Milk Market Share

The plant milk market is highly competitive with a large number of players operating in the market. Some of the key players in the plant milk market include:

Danone

The Hain Celestial Group, Inc.

Blue Diamond Growers

Califia Farms

Ripple Foods

Oatly AB

Eden Foods, Inc.

Pacific Foods of Oregon, LLC

SunOpta Inc.

Good Karma Foods

Danone is the market leader in the plant milk market, with a wide range of plant-based milk products under its brand name. The company has a strong presence in the European and North American markets. Other major players such as Blue Diamond Growers, The Hain Celestial Group, and Califia Farms are also gaining market share with their innovative plant-based milk products.Among the different types of plant milk, soy milk holds the largest market share, followed by almond milk and oat milk. The increasing popularity of oat milk can be attributed to its sustainability and environmental benefits, along with its creamy texture and neutral taste.The market share of the plant milk market is expected to continue to grow as more consumers switch to plant-based diets and demand for healthier and sustainable food options.

Plant Milk Market Trends

The plant milk market is evolving rapidly with changing consumer preferences and trends. Some of the key trends in the plant milk market are:

Rising demand for plant-based protein: With the increasing demand for plant-based diets, there is a growing need for plant-based protein sources. Plant milk is an excellent source of plant-based protein and is gaining popularity as a protein-rich alternative to dairy milk.

Innovation in product development: Manufacturers are investing in research and development to develop innovative plant-based milk products with different flavors, textures, and nutritional profiles. New plant-based milk products such as macadamia milk and pea milk are gaining popularity among consumers.

Growth of e-commerce: The rise of e-commerce has made it easier for consumers to purchase plant-based milk products online, driving the growth of the plant milk market. E-commerce platforms also allow manufacturers to reach a wider audience and expand their customer base.

Sustainability: Sustainability is becoming an important factor for consumers when making food choices. Plant milk is a more sustainable alternative to dairy milk, as it requires less water and has a lower carbon footprint.

Clean label: Consumers are increasingly looking for clean label products with simple and natural ingredients. Manufacturers are responding to this trend by developing plant milk products with minimal additives and preservatives.

Increased availability: The availability of plant milk products is increasing, with more supermarkets and grocery stores offering a wide range of plant-based milk options. This increased availability is making it easier for consumers to switch to plant-based milk.

Overall, the plant milk market is expected to continue to grow, driven by changing consumer preferences and the increasing demand for healthy and sustainable food choices.

Plant Milk Market Driving Factors

The plant milk market is being driven by several factors, including:

Health and wellness trends: Growing awareness of the health benefits of plant-based diets is driving the demand for plant milk. Plant milk is often perceived as a healthier alternative to dairy milk, as it is lower in calories, saturated fat, and cholesterol, and higher in fiber and certain vitamins and minerals.

Lactose intolerance and dairy allergies: Lactose intolerance and dairy allergies are common health concerns that have led many consumers to switch to plant milk as an alternative. Plant milk is naturally lactose-free and dairy-free, making it a suitable option for those who cannot consume dairy products.

Environmental concerns: The environmental impact of dairy production is a growing concern for many consumers. Plant milk is considered to be a more sustainable option, as it requires less water and produces fewer greenhouse gas emissions than dairy milk.

Ethical considerations: The ethical treatment of animals is becoming an increasingly important factor for consumers when making food choices. Plant milk is a cruelty-free alternative to dairy milk and is thus appealing to those who are concerned about animal welfare.

Product innovation: Manufacturers are continuously innovating and developing new plant milk products to cater to changing consumer preferences and demand. The availability of a wide range of plant milk options is driving the growth of the market.

Overall, these factors are driving the growth of the plant milk market, as consumers seek healthier, sustainable, and ethical food options. The trend towards plant-based diets is expected to continue, further fueling the growth of the plant milk market 

Plant Milk Market Regional Analysis

The plant milk market is growing globally, with several regions experiencing significant growth. Here is a regional analysis of the plant milk market:

North America: North America is the largest market for plant milk, with the United States being the largest consumer of plant milk in the world. The market is driven by factors such as health and wellness trends, increasing lactose intolerance and dairy allergies, and growing demand for vegan and vegetarian products.

Europe: Europe is the second-largest market for plant milk, driven by factors such as rising awareness of health and wellness, increasing demand for vegan and vegetarian products, and concerns over animal welfare and the environmental impact of dairy production.

Asia Pacific: The Asia Pacific region is experiencing significant growth in the plant milk market, driven by increasing health awareness, growing vegan and vegetarian populations, and the rising prevalence of lactose intolerance and dairy allergies.

Latin America: The plant milk market in Latin America is also growing, driven by increasing health consciousness and the availability of a wide range of plant-based milk options.

Middle East and Africa: The plant milk market in the Middle East and Africa is still in its early stages, but is expected to grow in the coming years, driven by increasing health awareness and growing demand for alternative dairy products.

Overall, the plant milk market is growing globally, with increasing demand for plant-based, sustainable, and healthy food options. The growth is driven by several factors, including changing consumer preferences, health and wellness trends, and environmental and ethical concerns.

Plant Milk Market Forecasts 2030 

The global plant milk market is expected to continue to grow in the coming years, with a CAGR of around 8.7% from 2021 to 2030. By 2030, the market is projected to reach a value of approximately USD 34.6 billion.Factors driving the growth of the plant milk market include increasing awareness of health and wellness, growing demand for vegan and vegetarian products, concerns over animal welfare and the environmental impact of dairy production, and product innovation.Almond milk is currently the largest segment of the plant milk market, followed by soy milk, coconut milk, and oat milk. However, oat milk is expected to see the fastest growth over the forecast period, due to its rising popularity among consumers and the growing number of product offerings from manufacturers.In terms of distribution channels, supermarkets and hypermarkets are the largest distribution channel for plant milk products, followed by online retailers and health food stores. However, online retail is expected to see significant growth in the coming years, due to increasing consumer preference for online shopping and the convenience of home delivery.Geographically, North America is currently the largest market for plant milk, followed by Europe and Asia Pacific. However, the Asia Pacific region is expected to see the fastest growth over the forecast period, driven by increasing health awareness, growing vegan and vegetarian populations, and the rising prevalence of lactose intolerance and dairy allergies.

Overall, the plant milk market is expected to continue to grow in the coming years, as consumers increasingly seek healthier, sustainable, and ethical food options. The availability of a wide range of plant milk options and ongoing product innovation by manufacturers are expected to support the growth of the market.

Plant Milk Market Key Industry Players

The global plant milk market is highly competitive, with several key industry players. Here are some of the major companies operating in the market:

Danone SA

The Hain Celestial Group, Inc.

Blue Diamond Growers

Califia Farms, LLC

Ripple Foods

SunOpta, Inc.

The WhiteWave Foods Company

Forager Project, LLC

Elmhurst Milked Direct, LLC

Plenish Cleanse Ltd.

These companies are focusing on product innovation, expanding their product portfolios, and entering into strategic partnerships and collaborations to expand their market reach. They are also investing in marketing and advertising campaigns to increase awareness of their products and attract new customers.

Other notable players in the market include Oatly AB, Good Karma Foods, Inc., Earth's Own Food Company Inc., Vly Foods GmbH, Happy Planet Foods, and Nutriops S.L., among others.