A report on “Plant-Based Milk Market” has been appended into the market research report database of Reports and Insights, in recent times, that promises to offer a complete analysis to its readers on the growth forecasts and development prospects of the market, together with the potential business opportunities in the industry. The study, which emphasizes the most recent business dynamics, trends, growth drivers and opportunities that are impacting the market growth, also comprises the market size and the compounded average growth rate (CAGR) for the projected period 2022 and 2030. The report on Plant-Based Milk Market also incorporates an in-depth assessment on both the macro- and micro-environmental factors that are likely to impact the market growth over the forecast period. In addition to that, analytical tools such as Porter’s five forces analysis and PESTEL analysis are utilized to reckon and gather the factors that are playing the role of the driving force for the growth of the market.
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Plant-Based Milk Introduction
Plant based milk can be understood as a kind of plant beverage with a color similar to that of milk. Plant based milks are basically non-dairy beverages developed from a water-based plant extract for aroma and flavoring. Plant based milks are consumed as replacements to milk, and by and large offer a milky and buttery mouthfeel. There are roughly around 17 various kinds of plant milks; among which oat, almond, coconut, and soy are the biggest-selling all around the world. It is significant to note that plant-based beverages have been used up for centuries, with the name “milk-like plant juices”, since the 13th century. In present times, they are oftentimes pertained to as alternative milk, plant-based milk, non-dairy milk or vegan milk.
Attributing to its higher nutritional values and rich in minerals, vitamins, proteins and carbohydrates, plant based milk is broadly recognized among consumers. It has several different applications in the dairy industry, food and beverage, and cosmetic industry. By virtue of rising awareness with regard to plant milk and its nutritional values among the consumers, the global plant based milk market is projected to grow significantly in the following years.
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Plant-Based Milk Market Segmentation
The global plant-based milk market is segmented on the basis of category, form, source, product type, flavor type, end use, and region.
By Category
Organic
Conventional
By Form
Liquid
Powder
By Source
Fruits
Rice
Nuts
Soy
Others
By Product Type
Soy Milk
Almond Milk
Coconut milk
Cashew Milk
Hemp Seed Milk
Rice Milk
Oat Milk
Peanut Milk
Pea Milk
Hazelnut Milk
Macadamia Milk
Flax Milk
Walnut
Other Product Types (Spelt Milk, Banana, etc.)
By Flavor Type
Original/Unflavored
Flavoured
Chocolate
Vanilla
Strawberry
Coconut
Mocha
Berry
Hazelnut
Other
By End-Use
Infant Formula
Dairy Products
Milk
Cheese
Yogurt
Butter
Spreads
Ice Cream
Frozen Dessert
Bakery & Confectionary
Milk & Milk-based Beverages
Retail Sales
By Sales Channel
Direct Sales
Indirect Sales
Modern Trade
Convenience Store
Departmental Store
Traditional Store
Specialty Store
Online Retailers
Other Sales Channel
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Plant-Based Milk Market Key Players
Some of the key participating players in global Plant-Based Milk market are:
Groupe Danone
Alpina Foods
Blue Diamond Growers, Inc.
Döhler GmbH
Earth’s Own Food Company Inc
Elden Foods Inc
Freedom Foods Group Ltd
Goya Foods
Hain Celestial Group, Inc
Kaslink Foods Oy Ltd
Living Harvest Foods Inc
Liwayway Holdings Company Limited
Mc Cormick & Co.
Natura Foods
Nutriops SL
Organic Valley.
Pacific Foods of Oregon, Inc.
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