A latest market forecast report published by Transparency Market Research on the plant-based milk market includes the global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the global plant-based milk market has been estimated to be valued at ~ US$ 14 Bn in 2019, and is projected to increase at a CAGR of ~ 8%, to reach ~ US$ 30 Bn by 2029.

Vegans & Vegetarians Demand Plant-based Milk and Milk Products

Consumers are becoming more sensitive and sympathetic towards animals, due to the conditions and environment in which they are raised and harvested. Animal welfare is one of the primary reasons for consumers opting for plant-based products, such as plant-based milk and other non-dairy alternatives.

Request Sample Copy: https://www.transparencymarketresearch.com/sample/sample.php?flag=S...

According to the People for the Ethical Treatment of Animals organization (PETA), cows undergo genetic manipulation, and are treated with antibiotics and bovine growth hormones (BGH) so that they produce more than 18,000 pounds of milk a year (National Agriculture Statistics Service, 2004 Feb 17, “Milk Production” - The U.S. Department of Agriculture). The hormones used to increase the productivity and efficiency of cows adversely affect their health and surge the rate of congenital disabilities in their offspring.

Consumers are choosing safer plant-based milk due to rising food safety concerns related to the usage of hormones and different types of antibiotics in dairy-based products. Also, the number of people suffering from food-borne allergies and intolerances has led to the shift of consumer preference towards plant-based alternatives.

Rising Prevalence of Dietary Restrictions Boosting Plant-based Milk Market

Today’s population is adopting a preventive diet that emphasizes on the greater consumption of plant-based products. While intolerance (e.g., lactose intolerance) or food allergies determines some of these diets, others such as flexitarian diets and the Paleo diet are chosen by consumers who aim to achieve superior well-being.

According to the National Center for Biotechnology Information (NCBI), in 2012, around 65% of the total human population was lactose intolerant, and in 2016, it reached 74%.

Increasing gastrointestinal Problems Have Increased the Demand for Plant-based Milk and Plant-derived Probiotics

Growing functional disorders and organic gastrointestinal diseases are resulting in an increasing population that is suffering from improper gut health. The ever-increasing necessity to improve gut health has resulted in the consumption of probiotics that promote gut health, along with the consumption of plant-based milk. Plant-based milk is increasing in popularity due to its digestive and immune benefits, which help in preventing urinary and vaginal infections, and obesity.

Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=E...

Consciousness and alertness regarding the consumption of food products are currently moving to the idea of deep-rooted clearness. With improving technology, consumers now have access to smart labels, with the help of which, they can trail the journey of a food product and check against its individual potential. Consumers are nowadays compelling the food companies to increase the clearness of their products, going beyond ingredients, free-from status, and nutritional value. This is determined by the buyer's continuously increasing demand to comprehend the product-related questions that they have in mind, such as from where and how the ingredients were obtained, till the end product.

In 2016, according to the International Food Information Council (IFIC), 38% of the American population named 'chemicals', as in, the presence of too much chemicals as their top food safety concern. This proves that, a majority of the North American people no longer believes in chemicals and uncommon sounding ingredients in their food.

According to Ingredion, a leading global ingredients solutions company, around 80% of consumers, globally, feel that it is important that they recognize all the ingredients listed on their food and drink packaging. A global survey conducted across 17 countries indicated that, consumers assume that, a brief and modest ingredient list is important; Chinese customers were ranked 4th most probable to read ingredient lists.

Health And Wellness Consciousness Driving Demand for Plant-based Milk

Consumers, irrespective of age, are seeing food and beverages as a primary path leading towards health and wellness. Plant-based beverages are rich in nutrients, and have no added flavor or additives, which helps in maintaining body weight, cholesterol, and blood pressure levels, and aids in preventing ailments such as cardiovascular diseases and obesity.

Big Names Investing in Smaller Plant-based Brands and Companies

The recent rush of big food companies obtaining or investing in smaller, independent brands is driving the push for the mainstream acceptance of plant-based milk. Danone, a leading food and beverage company, investing US$ 30 million in U.S. coconut water brand Harmless Harvest, and Coca-Cola Company acquiring Unilever’s AdeS plant-based beverage business, are examples of a few of the strategic moves that big companies have made to tap into the plant-based milk market.

Request Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=B...

Tedious Process of Regulatory Approval in the Plant-based Milk Market

Plant based products, including plant-based milk are facing legal and regulatory restraints, which may result in the declining popularity of plant-based milk products. Plant based milk is facing legal and regulatory inspection as industry associations prevent manufacturers from using labels and terms that consumers find more relative. For instance, in 2017, The European Court of Justice ruled that, plant-based milk and other plant-based items can't be described using dairy terms, like milk, even though their plant-based origins are marked.

In the same year, in the United States, a bill titled the 'Dairy Pride Act' was presented in the Senate, to prevent plant-based food manufacturers from using dairy names or terms. The Senate Committee has still not approved the bill. However, the dairy business is pushing hard to get the bill passed. Coming up with terms that resound with customers without aggravating trade groups will go far toward enabling the acceptance of plant-based foods.

Global Plant-based Milk Market: Segmentation

Plant-based Milk Market by Product

Soy Milk
Almond Milk
Coconut Milk
Rice Milk
Oat Milk
Others (Cashew and Hemp Seeds Milk)
Plant-based Milk Market by Nature

Organic
Conventional
Plant-based Milk Market by Formulation

Regular
Flavored
Plant-based Milk Market by Distribution Channel

Hypermarkets/Supermarkets
Convenience Stores
Independent Small Groceries
Specialty Stores
Online Retailing
Tracing the Evolution of the Plant-based Milk Industry

Humans first imbibed the idea of the consuming milk of other mammals following the domestication of animals during the Neolithic Revolution. The rise in urban population, and expansion of railway networks in the mid-19th century, further revolutionized milk production and supply. Over the last three decades of the 19th century, milk demand in most parts of the world surged significantly. Although milk held a legacy of strong market hold over centuries, the preference for plant-based milk has also been there over centuries, although not regarded as a substitute for dairy milk. Recipes from Levant, back in the 13th century, describe the first-ever plant-based milk—almond milk, whereas, soy milk was another plant-based milk consumed in China during the 14th century. Medieval England also marked the use of almond milk in several dishes.

Get covid 19 Analysis: https://www.transparencymarketresearch.com/sample/sample.php?flag=c...

Key Questions Answered in the Study

What revenue will the plant-based milk market hold in 2029?
Which factors and market dynamics are likely to influence the plant-based milk market over the forecast period?
What are key restraints that plant-based milk market competitors are likely to face during the course of the forecast period?
Which regions are contributing a greater share in the overall plant-based milk market revenue?
What are the key strategies adopted by leading plant-based milk market competitors?
More Trending Reports by TMR:

https://www.prnewswire.com/news-releases/butyric-acid-derivatives-m...

https://www.globenewswire.com/news-release/2022/05/05/2436678/0/en/...

About Us Section:

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information.

Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the unified market intelligence engine. Sign Up for a 7 day free trial!

Contact Us

Rohit Bhisey
Transparency Market Research,
90 State Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com/