The Plant-based Milk Market expected to reach $47.55 Billion by 2030, reveals Meticulous Research®
In a comprehensive report released by Meticulous Research®, the Plant-based Milk Market is forecasted to soar to $47.55 billion by 2030, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 11.7% from 2023.
The escalating growth of this market can be attributed to various factors:
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• Rising Health Awareness: A surge in lactose intolerance and allergies to cow milk has propelled consumers towards healthier alternatives.
• Changing Consumer Habits: Evolving dietary preferences and a drive towards sustainable consumption have led to a notable shift towards plant-based milk.
• Government Support: Increasing investments and government initiatives supporting plant-based industries further fuel this market's expansion.
Despite the market's promising growth trajectory, challenges persist, including the continued preference for animal-based milk products and the growing demand for soy-free and gluten-free alternatives.
This market landscape hosts several key players making substantial contributions:
1. Danone S.A. (France): Operating across three segments, Danone offers an extensive range of international and local brands, including Alpro and Silk, contributing to its robust global presence.
2. Blue Diamond Growers (U.S.): Renowned for its almond-based products, Blue Diamond operates globally and specializes in almond processing and marketing through the Almond Breeze brand.
3. Campbell Soup Company (U.S.): Offering plant-based milk under the Pacific Foods brand, Campbell caters to various dietary preferences, including coconut, almond, cashew, hemp, oats, and soy-based products.
4. Hain Celestial Group (U.S.): With a focus on diverse alternatives, Hain Celestial provides an array of plant-based milk under brand names Joya and Natumi across multiple segments.
5. Oatly Group AB (Sweden): Known for oat-based dairy substitutes, Oatly operates globally, catering to different segments, including on-the-go, chilled drinks, ice cream, and more.
6. Nestlé S.A. (Switzerland): Nestlé's diverse portfolio extends into the plant-based market, offering alternatives across various categories, such as dairy, meat, seafood, and confectionery.
7. SunOpta Inc. (Canada): Specializing in organic and non-GMO foods, SunOpta provides plant-based milk through its beverage and ingredient segments.
8. Sahmyook Foods (South Korea): Focused on vegetarian and vegan products, Sahmyook offers soy milk, meat substitutes, noodles, and drinks with advanced automated production facilities.
9. Earth’s Own Food Company, Inc. (Canada): Catering to nutritional food and beverage markets, Earth’s Own produces brands like So Good and Almond Fresh, targeting diverse consumer preferences.
10. Sanitarium Health and Wellbeing Company (Australia): Renowned for brands like Weet-Bix and Up & Go, Sanitarium offers plant-based milk alternatives through its So Good and Up & Go lines.
The report compiled by Meticulous Research® offers a detailed analysis of these companies, encompassing:
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Recent financial performance
• Key product insights
• Strategic initiatives
• Partnerships and acquisitions
For more comprehensive insights into the Plant-based Milk Market, explore Meticulous Research®'s authoritative report, "Global Opportunity Analysis and Industry Forecast (2023-2030)."

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