Liquid Vegetable Milk Market was valued at USD 10.5 Billion in 2022 and is projected to reach USD 18.2 Billion by 2030, growing at a CAGR of 7.8% from 2024 to 2030.
From 2018 to 2022, the market observed a steady increase in the variety of products available, with new flavors, formulations, and fortified options gaining traction. Almond milk held a significant market share due to its widespread availability and taste profile. However, oat milk began to surge in popularity, with brands such as Oatly and Silk contributing to its rapid expansion. The demand for organic and non-GMO options also surged, as health-conscious consumers sought out cleaner, more sustainable alternatives to traditional dairy milk.
Looking ahead to the forecast period of 2023 to 2033, the Liquid Vegetable Milk Market is expected to continue its upward trajectory. The global demand for plant-based beverages is expected to grow at a compound annual growth rate (CAGR) of 9.4% through 2033, driven by several key factors. Increased health awareness, dietary preferences, and sustainability concerns are likely to continue to shape consumer behavior in the coming years. Additionally, innovations in product formulations and the development of new plant-based milk varieties will expand the market even further, appealing to a broader demographic.
The Asia-Pacific region, particularly China and India, is anticipated to see significant growth in the coming years, as these markets are experiencing a rise in veganism and vegetarianism. The growing urbanization and increasing disposable income in these regions are also factors that will drive the demand for plant-based products, including liquid vegetable milk. This trend is not only relevant in developed countries but also gaining traction in developing regions, where consumers are becoming more open to plant-based diets.
Moreover, environmental concerns will continue to propel the liquid vegetable milk market forward, with consumers recognizing the significant reduction in carbon footprints and water usage associated with plant-based milk production compared to traditional dairy. This shift in consumer priorities is expected to amplify in the years to come, encouraging more brands to innovate and cater to this growing market.
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The Liquid Vegetable Milk Market from 2018 to 2022 experienced significant growth, driven by increasing consumer demand for dairy alternatives. With a growing awareness of the environmental impact of animal agriculture and a rise in lactose intolerance, liquid vegetable milk, such as almond, oat, and soy milk, became a popular choice for consumers worldwide. The global shift towards plant-based diets fueled a booming market, with companies rapidly expanding their product offerings to cater to an evolving consumer base. These trends were especially visible in Western markets like North America and Europe, where plant-based milk alternatives accounted for a significant portion of the dairy market.
Asahi Group Foods
Ltd.
Bulk Barn Foods Limited
BMS Organics
NOW Foods
Unisoy Foods
Enfamil
Urban Platter
Bio Nutrients (India) Pvt. Ltd.
Chocolate Alchemy
Jaffe Bros.. Inc.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Liquid Vegetable Milk Market
Application I
Application II
Application III
Application IV
Based on Types the Market is categorized into Below types that held the largest Liquid Vegetable Milk market share In 2023.
Soy Milk
Coconut Milk
Almond Milk
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Liquid Vegetable Milk Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Liquid Vegetable Milk Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Liquid Vegetable Milk Market, By Type
6. Global Liquid Vegetable Milk Market, By Application
7. Global Liquid Vegetable Milk Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Liquid Vegetable Milk Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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