Plant Milk Market Analysis By Source, By Sales Channel, By Formulation, By Packaging, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
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According to Global Market Insights, Plant Milk Market provides a comprehensive analysis of the market segments, including their dynamics, size, growth, regulatory requirements, technological trends, competitive landscape, and emerging opportunities of global industry. This report also provides market landscape and market share information in the Plant Milk industry.
2016 Market Size - USD 8 Billion
2025 Forecast Value - USD 21 billion+
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Growing vegan population resulting in high demand for dairy alternatives is driving plant milk market growth. Improved taste and flavor along with long shelf life is anticipated to fuel the business penetration. Initiatives for reduction of nitrous oxide and methane (greenhouse gas) produced by diary industry, deteriorating environment will stimulate plant milk market share from 2017 to 2024.
North America plant milk market accounted for over 25% share in 2016. Higher incidence of lactose intolerance in Hispanic and Asian-American populations in the U.S. is major driving force for the plant milk market growth. According to National Institute of Children's Health & Human Development, in the U.S. around 30-50 million people are lactose intolerant. Rise in the number of dairy alternative including soy, almond, coconut and rice will fuel the overall revenue generation. Ongoing launch and projects in pipeline for a range of enhanced blends and flavors of non-dairy beverages from different sources are among key factors driving industry growth of plant milk market.
Rising threats pertaining to saturated fat levels, hormone content, antibiotics used in dairy cows has diverted consumers preference to dairy alternatives. Growing health concerns regarding diabetes and allergies has encouraged the consumers to adopt dairy alternative products. According to International Diabetes Federation and the U.S. Census Data, in the U.S., 37 million people have diabetes and 1.26 million people have a milk allergy.
Key Highlights of this report:
Base Year: 2016
Growth Projections - 2017 to 2024
Historical data coverage: 2013 to 2016
Number of Pages - 300
Data Tables - 302
Coconut will witness significant growth at over 13% up to 2024. Increased demand for coconut milk owing to the health benefits provided by coconut compared to soy will drive the product demand. Presence of significant amount of lauric acid in coconut, which when converted to monolaurin provides antiviral, antifungal and antibacterial properties. These properties in turn help in destroying wide variety of disease causing organism enhancing product penetration.
Mainstream stores accounted nearly 80% of the industry share in 2016. Growing disposable income and numerous value-added services offered by the modern retail outlets, substituting the conventional unorganized retailers is driving the product demand. Convenient locations, one-stop shopping, extended hours of operation, variety of merchandise, grab-and-go service and fast transactions are some of the key factors stimulating industry growth.
Unsweetened formulation will witness gains exceeding 12.5% up to 2024. Increasing demand for dairy alternative product made from plain milk including desserts, yogurt and cheese drives the demand for unsweetened plant milk formulation. Convenience regarding addition of preferred quality and amount of sweetener owing to various health concerns by individuals will further propel the product demand.
Carton packaging accounted for over 65% of plant milk market share in 2016. Increased innovation in production of varied range of carton packaging offering barrier from UV radiations, moisture and harmful gases & odor will stimulate industry growth of plant milk market. Eco- friendly and recyclable properties exhibited by carton packaging will fuel product demand.
Companies Profiled based on Business Overview, Financial Data, Product Landscape, Strategic Outlook & SWOT Analysis:
1. Archer Daniels Midland Company
2. Danone
3. SunOpta
4. The Hain Celestial Group
5. Califia Farms
6. WhiteWave Foods
7. Ripple Foods
8. Daiya Foods Inc
9. Blue Diamond Growers
10. Freedom Foods Group Limited
11. Eden Foods, Inc.
12. MALK Organics
13. Earth's Own Food Company Inc.
14. The New Barn-Raising
15. DREAM
16. Nutriops SL
Plant milk market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Billion Liters and revenue in USD Million from 2013 to 2024, for the following segments:
Plant Milk Market, By Source
• Soy
• Almond
• Rice
• Coconut
• Others (Hemp, Oats)
Plant Milk Market, By Sales Channel
• Mainstream Stores
• Specialty Stores
• Others (online, natural food stores)
Plant Milk Market, By Formulation
• Unsweetened
• Sweetened
Plant Milk Market, By Packaging
• Carton Packaging
• Bottles
• Pouches
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Research Methodology:
At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
Definition and scope of research
Market dynamics, growth drivers and industry pitfalls
Regulatory and political guidelines for the industry
Demographics and statistical data
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Website: https://www.gminsights.com/industry-analysis/plant-milk-market
Source URL: https://marketersmedia.com/plant-milk-market-development-and-trends-forecasts-report-2019-2025/88915254
Source: MarketersMedia
Release ID: 88915254
