Plant Milk Market Forecast 2025 to 2035 Shows Surging Demand for Dairy-Free Alternatives
The valuation of the global plant milk market stood at USD 21.23 Billion in 2024 and is expected to grow at a CAGR of approximately 7.93% CAGR throughout the forecast period from 2025 to 2035 rising to USD 49.15 Billion by 2035. Plant milk is any non-dairy drink derived from soy, almond, oat, rice, coconut, hemp and other sources. These beverages are substitutes to the traditional dairy products and support the emerging consumers of vegan population, lactose intolerant consumers, and health conscious consumers. Promoting sustainable consumption, decreasing reliance on animal-based dairy and offering nutrient-rich, free of allergens options are the key pursuits of the market. With increasing awareness on environmental issues and ethical eating trends, the avenues for plant based milk substitutes are constantly expanding in the home as well as in the foodservice arena.
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Drivers of the Key Market
Plant milk market is fuelled by a surge in lactose intolerance cases and progressive tendencies to veganism across the globe. At around 65% of the world population suffers from some form of lactose intolerance and therefore plant milk is an essential alternative. In addition, a survey conducted by The Good Food Institute in 2023 has shown that one out of every three consumers across the world prefer plant-based beverages over animal-based dairy in terms of sustainability and health benefits. Such consumption patterns shifts combined with clean-label favoring is fueling the growing demand for non-dairy milk products.
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Flavored Plant Milk Segment Analysis
In product types, flavored plant milk has become a rising high demand category, as a result of innovation in taste profiles and variety of products. Manufacturers are introducing fascinating choices such as chocolate almond milk, vanilla oat milk and berry coconut milk to lure health-minded buyers who want nutrition and indulgence. The presence of fortified and low-sugar flavored alternatives help make this segment popular amongst children and young adults seeking all the benefits of dairy-free but without giving up on taste.
Hemp-Based Plant Milk Segment Growth
The hemp based milk is gaining momentum as a promising source segment, for the foods high protein content, omega-3 fatty acids and its sustainable foil production. The rising awareness of hemp’s nutritional content and the cultivation of hemp under the law is fueling the growth of hemp milk in both North America and parts of Europe. Its creamy texture and nutty flavor make it a competing substitute for almond and soya milk.
Outlook for North America Plant Milk Market
North America, with a strong shift towards health conscious consumption, increasing vegan population and wide spread availability of plant based products across the retail chains, is dominating the global market. The innovation is directed by America at the expense of high investments from food tech companies and growing preference of consumers to organic plant milk and no dairy products in the form of protein drinks. Education charms on vegan milk alternatives that are friendly to the environment and health are also advancing the regional growth.
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Worldwide competition
The plant milk industry suffers from high-levels of competition across the world and major players include Danone SA (Alpro), Blue Diamond Growers, The Hain Celestial Group, Califia Farms, Oatly Group AB, and Ripple Foods. These companies use strategies including clean labeling, sustainability certifications and innovations of packaging alongside shelf life. Serving more products such as unsweetened plant milk, barista-grade oat milk, and cardiometabolic health product, blends, product diversification is also enabling companies to capture bigger market shares. Another significant strategy in the competitive environment is the expansion in developing countries by e-commerce and strategic partnerships.
