Plant-based Milk Market, Projected to Reach $52.54 Billion by 2031

Plant-based Milk Market, Projected to Reach $52.54 Billion by 2031

Plant-based Milk Market 2024-2031 Meticulous Research , a leading global market research company, has released a new study titled Plant-based Milk Market Size, Share, Forecast, & Trends Analysis by Type (Almond Milk, Soy Milk, Coconut Milk, Oat Milk, Rice Milk), Formulation (Flavored), Distribution Channel (B2B, B2C [Modern Groceries, Convenience Store]) - Global Forecast to 2031. Download Sample Report Here @ https://www.meticulousresearch.com/download- sample-report/cp_id=5304 According to this latest report, the plant-based milk market is projected to grow to $52.54 billion by 2031, with a CAGR of 11.4% from 2024 to 2031. This robust growth is primarily driven by the increasing prevalence of lactose intolerance and allergies to cow milk, a growing focus on health and well-being, changing dietary habits, a consumer shift towards sustainability, and rising investments and governmental support for the plant-based sector. Nevertheless, the market faces challenges from the strong preference for animal-based milk products and the rising demand for soy-free and gluten-free products. Growth Opportunities and Market Dynamics The report highlights that emerging economies in the Asia-Pacific and Latin American regions present significant growth opportunities for market participants. However, the volatility of raw material prices remains a key challenge for stakeholders. Competitive Landscape The plant-based milk market is moderately competitive, featuring numerous global, regional, and local players. Key market participants include: Hain Celestial Group, Inc. (U.S.) SunOpta Inc. (Canada) Sanitarium Health and Wellbeing Company (Australia) Axiom Foods, Inc. (U.S.) Earth's Own Food Company, Inc. (Canada) Sunrise Soya Foods (Canada) Campbell Soup Company (U.S.) Danone S.A. (France) Plamil Foods Ltd. (U.K.) Sahmyook Foods (South Korea) Nestl S.A. (Switzerland) Natura Foods (Canada) Blue Diamond Growers (U.S.) Oatly Group AB (Sweden) Market Segmentation The report provides detailed segmentation of the plant-based milk market: By Type: Almond Milk, Soy Milk, Coconut Milk, Oat Milk, Rice Milk, and Other Plant-based Milks. Almond milk is anticipated to hold the largest market share at Page 1 of 2 Meticulous Research| sales@meticulousresearch.com

Plant-based Milk Market 2024-2031 59.9% in 2024 due to its popularity among consumers seeking nut-based lactose-free alternatives. By Formulation: Unflavored and Flavored. The unflavored segment is projected to dominate with a 64.4% market share in 2024, driven by consumer preference for naturally dairy-free and sugar-free products. By Distribution Channel: Business-to-Business (B2B) and Business-to-Consumer (B2C). The B2C segment is expected to lead, capturing 67.4% of the market in 2024, supported by increasing retail sales and consumer acceptance of plant-based dairy alternatives. Quick Buy @ https://www.meticulousresearch.com/Checkout/36205082 Geographical Analysis The report analyzes major geographic regions, including North America, Europe, Asia- Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to dominate the market with a 49.7% share, followed by Europe and North America. The region's large market share is attributed to growing health consciousness, advancements in food and beverage technology, and a significant vegan and vegetarian population. About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value- driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous- research Page 2 of 2 Meticulous Research| sales@meticulousresearch.com