Growing Lactose Intolerant Population Boosts Sales Avenues in Plant-based Milk Market, Notes TMR

Growing Lactose Intolerant Population Boosts Sales Avenues in Plant-based Milk Market, Notes TMR

PR Newswire

ALBANY, N.Y., Feb. 17, 2021

- The global plant-based milk market is projected to expand at promising pace on the back of shift in consumption patterns and increased inclination among major worldwide population toward organic, sustainable, and plant-based foods.

- On regional front, Asia Pacific plant-based milk market will demonstrate prodigious expansion avenues in the years ahead.

ALBANY, N.Y., Feb. 17, 2021 /PRNewswire/ -- Plant-based milk can be manufactured using almonds, soy, oats, coconut, rice, cashew nuts, and hemp. This product is gaining immense impetus across the globe owing to high nutritional contents in it. Moving forward, growing trend of veganism is likely to generate high demand for plant-based products, and thereby boosting the sales of the global plant-based milk market throughout the assessment period 2019–2029.

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According to analysts at TMR, the global plant-based milk market will expand at CAGR of 8% during the assessment period 2019-2029. The market was accounted for ~ US$ 14 Bn in 2019.

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Plant-based Milk Market: Major Takeaways

Key enterprises in the global plant-based milk market are growing focus toward innovating their products. For this purpose, they are increasing investments in research activities. Many players are offering their products in a wide range of flavors. These efforts are helping stakeholders in boosting their sales number.

In recent few years, there is considerable growth in the number of people dealing with lactose intolerance issue. Thus, this consumer base is inclined toward use of substitutes to dairy products. As a result, the players in the global plant-based milk market are experiencing lucrative avenues from this consumer base from all across the globe.

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Plant-based Milk Market: Growth Boosters

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Plant-based Milk Market: Well-Established Participants

Some of the key players profiled in this study on the plant-based milk market are:

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