Plant-based Milk Market by Source (Soy Milk, Coconut Milk, Rice Milk, Almond Milk, Others), by Packaging (Bottles, Carton Packaging, Pouches), by Distribution Channel (Retail Stores, Online Channels, Specialty Stores, Others), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2024-2032
The Plant-based Milk Market size was valued at USD 3.12 USD Billion in 2023 and is projected to reach USD 5.11 USD Billion by 2032, exhibiting a CAGR of 7.3 % during the forecast period. Soy and almond milk are common plant-based milk and are liquids produced from plants such as nuts, seeds, grains, and legumes. Some of the most frequently used ones are almonds, soy, oats, rice, and coconut milk. Such options are useful for people who suffer from lactose intolerance, vegans, and those who want to reduce their impact on the environment. Almond milk comes out as lighter in texture and with a strong almond flavor while soy milk is rich in protein. Again, oat milk has gained popularity due to its rich texture which is suitable for coffee and smoothie preparations. As a result, rice milk does not have allergens, and coconut milk provides tropics. Plant-based milk can be used in baking, cooking, and as a beverage hence can replace dairy milk.
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 7.3% from 2018-2032 |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 7.3% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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