Plant Milk Market Is Expected to Expand Significant CAGR from 2017 to 2024

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Plant Milk Market is estimated to surpass USD 21
billion by 2025
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Key Insights from Plant Milk Market

• Plant Milk Market size is estimated to exceed USD
  21 billion by 2024 according to a new research
  report by Global Market Insights.
• 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.
• 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.
• 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.

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Continued...

• Increasing health issues owing to the use of
  bovine growth hormone into cattle to boost milk
  production has significantly hampered dairy
  industry. This has resulted in its ban from
  countries including Canada, the European Union,
  Australia, New Zealand, Japan, and Israel, hence
  fueling dairy alternative market.
• 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
• Global industry share is highly fragmented owing
  to presence various local and international
  vendors. Some of the key players include Ripple
  Foods, Danone, Archer-Daniels-Midland, WhiteWave
  Foods, Califia Farms, Hain Celestial Group, Daiya
  Foods and Freedom Foods.

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U.S. Plant Milk Market, By Source, 2016 2024
(Million Litres)

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