Plant Milk Market: Global Industry Analysis and Opportunity Assessment 2017-2024 GMI Estimate - PowerPoint PPT Presentation

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Plant Milk Market: Global Industry Analysis and Opportunity Assessment 2017-2024 GMI Estimate


Plant Milk Market Size By Source (Soy, Almond, Rice, Coconut), By Sales Channel (Mainstream Stores, Specialty Stores), By Formulation (Unsweetened, Sweetened), By Packaging (Carton Packaging, Bottles, Pouches), Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024 – PowerPoint PPT presentation

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Title: Plant Milk Market: Global Industry Analysis and Opportunity Assessment 2017-2024 GMI Estimate

Plant Milk Market to exceed 21 bn by 2024
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. 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
  • 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.
  • 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.

  • 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
  • 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.

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


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