Liquid Vegetable Milk Market Revenue was valued at USD 2.5 Billion in 2024 and is estimated to reach USD 5.1 Billion by 2033, growing at a CAGR of 8.5% from 2026 to 2033.
The global liquid vegetable milk market was valued at approximately USD 15.3 billion in 2022, and it is expected to grow at a compound annual growth rate (CAGR) of 10.5% from 2023 to 2030. This significant growth can be attributed to the increasing demand for plant based beverages, driven by the rising health conscious population and the growing adoption of vegan diets. With a broad array of liquid vegetable milk alternatives available, such as almond, soy, oat, and coconut milk, the market is gaining momentum, especially among consumers seeking dairy free and lactose free options. The market is anticipated to reach a value of approximately USD 40.4 billion by 2030, with an increasing trend of innovation in flavors, nutritional profiles, and eco friendly packaging.
Regionally, North America dominated the liquid vegetable milk market in 2022, accounting for nearly 35% of the global market share, with the United States being a major contributor. The rapid growth of plant based milk alternatives in the region is propelled by a surge in awareness of health benefits and environmental concerns associated with dairy farming. The European market followed closely behind, with a market share of around 30%, due to a significant shift towards veganism and plant based lifestyles. Asia Pacific, particularly countries like China and India, is anticipated to witness the highest CAGR, projected to expand by 12.3% over the forecast period, driven by increasing urbanization, growing disposable incomes, and a shift in dietary preferences towards plant based alternatives. The Middle East and Africa, while smaller, are expected to show substantial growth, particularly in countries with rising health awareness.
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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. 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
Almond Milk
Soy Milk
Coconut Milk
Oat Milk
Rice Milk
Hemp Milk
Pea Protein Milk
Cashew Milk
Flax Milk
Walnut Milk
Original/Unsweetened
Vanilla
Chocolate
Strawberry
Caramel
Hazelnut
Matcha
Household
Food Service Sector
Commercial Use (Cafés, Restaurants)
Institutional Use (Hospitals, Schools)
Carton Packaging
Plastic Bottles
Glass Bottles
Pouches
Tetra Packs
High Protein
Low Calorie
Fortified (with vitamins and minerals)
Organic
Non-GMO
Gluten-Free
Low Sugar
US (United States, US 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
US
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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