What is Plant Based Milk Market?
Plant based milk is referred to the manufactured, non-dairy beverages which are made from a water-based plant extract for flavouring and aroma. These are vegan beverages that are consumed as plant-based alternatives to dairy milk, and provide a creamy mouthfeel. The plant-based milk is packed in the containers which are similar to the those used for animal lactations. Further, it is used to make ice cream, plant cream, vegan cheese, and yogurt, such as soy yogurt. In addition, it is a flavourful ingredient in sweet and savoury dishes, such as the use of coconut milk in curries.
The market study is being classified and major geographies with country level break-up.
Archer Daniels Midland (ADM) (United States), Danone (France), Daiya Foods (Canada), Hain Celestial Group (United States), WhiteWave Foods (United States), Blue Diamond Growers Foods (United States), SunOpta (Canada), Freedom Foods (Australia), Eden Foods (United States) and Nutriops SL (Spain) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Earths Own Food Company (Canada), The New Barn (United States), Ripple Foods (United States) and Dream (Canada).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Plant Based Milk market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Plant Based Milk market by Type, Application and Region.
On the basis of geography, the market of Plant Based Milk has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand for Milk Alternatives
- Nutritional Benefits of Plant-Based Alternatives
- Increasing Consumer Preference for Vegan Food Products
- Fluctuating Raw Material Prices
- Rising Cases of Lactose Intolerance and Milk Allergies
- Growing Online Distribution Channels
- Lack of Awareness Among the People
On September 2020, Lavva which is a plant-based brand is expanding into the non-dairy milk and creamer industry. Lavva Plant Milks and Creamers will launch nationwide in September and October of this year exclusively at Whole Foods Market.
Key Target AudienceManufacturers, Raw material suppliers, Government associations, Research organizations and Others
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