Plant Based Milk Market is estimated to rise at a steady CAGR of 4.5% during by 2030-end

Plant Based Milk Market is estimated to rise at a steady CAGR of 4.5% during by 2030-end

PR Newswire

NEW YORK, Sept. 8, 2020

NEW YORK, Sept. 8, 2020 /PRNewswire/ -- The global meat and dairy sector is currently going through an unprecedented level of competition and disruption, mainly driven by the growth of viable plant-based alternatives. Major plant-based products are evolving as the perfect substitutes for animal-based products, as they contain the relevant nutritional composition. Growing consumption of plant-based food has also led to the adoption of plant-based milk products. Additionally, increasing popularity of soy milk, almond milk, and coconut milk is also flourishing the demand for plant-based milks. In developed countries, consumption of animal products places a heavy burden on the environment. This has resulted in an exponential rise in the consumption of plant-based food products. Moreover, consumers are also becoming more concerned regarding the discontented impact of animal-based products on the environment. 

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For instance, leading international organizations such as the WHO (World Health Organization), FAO (Food and Agriculture Organization of the United Nations), and IPCC (Intergovernmental Panel on Climate Change) all urge for a global shift to plant-based diets.

The Global Plant-Based Milk Market Has Witnessed Substantial Growth Over The Past Few Years, And Is Estimated To Rise At A Steady CAGR Of 4.5% During The Forecast Period.

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Key Takeaways from Plant-based Milk Market Study

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"Manufactures in the plant-based milk market could gain extensive profits by offering their products to foodservice providers along with household/retail, due to the expected increase in the use of plant-based milk in the HoReCa sector and institutional catering. Moreover, increasing retail sales of plant-based milk is another growth factor aiding market growth. However, the growing impact of COVID-19 on various industries is expected to have a moderate impact on the plant-based milk market in the short term," says a PMR analyst.

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Plant-based Milk Market: Competitive Landscape

The plant-based milk market is fragmented in nature. Companies are offering plant-based milk products with diverse flavors and varieties to customers. With the utilization of advanced ingredients and state-of-the-art manufacturing techniques, companies are providing pioneering solutions in regards with plant-based milk.

Explore More Valuable Insights on Global Plant-based Milk Market

Persistence Market Research, in its new report, offers an impartial analysis of the global plant-based milk market, presenting historical data (2015-2019) and estimation statistics for the forecast period of 2020-2030. The study offers compelling insights on the plant-based milk market based type (soy, almond, coconut, rice, oat, and others), end use (food & beverage industry, retail/household, and foodservice industry), flavor (original/unflavored and flavored), and distribution channel (business to business and business to consumer), across five regions.

About Food & Beverage Division at Persistence Market Research

The Food and Beverages team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

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