Global Milk Substitutes (Non-Dairy Milk) Market Overview And Prospects
Learn about the global milk substitutes (non-dairy milk) market through The Business Research Company, which provides information on milk substitutes (non-dairy milk) market size, milk substitutes (non-dairy milk) market drivers and restraints, milk substitutes (non-dairy milk) market players, the COVID-19 impact on the milk substitutes (non-dairy milk) market, and more.
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The global milk substitutes (non-dairy milk) market is expected to grow from $19.93 billion in 2020 to $21.44 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The non-dairy milk market is expected to reach $31.28 billion in 2025 at a CAGR of 9.9%.
The increasing consumers’ preference for vegan food is expected to drive innovation in milk substitutes (non-dairy milk) manufacturing, thus driving the market during the forecast period.
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The milk substitutes (non-dairy milk) market consists of sales of milk substitutes. This industry includes establishments that produce milk substitutes such as soy milk, almond milk and rice milk.
Global milk substitutes (non-dairy milk) market segments include:
By Type: Soy Milk, Almond Milk, Rice Milk, Others
By Application: Food, Beverages
By Distribution Channel: Supermarkets, Hypermarkets, Convenience Stores, Specialty Stores, Online Retail Stores, Others
By Formulation: Plain-Sweetened, Plain-Unsweetened, Flavoured-Sweetened, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Non-dairy milk producing companies are increasingly focusing on improving the shelf life of their products. Companies are trying to decrease the rate of bacterial formation in non-dairy milk through bacterial clarification using separators intended to remove bacterial spores. Ultra-pasteurization involves heating milk to a temperature of more than 280°F for at least 2 seconds that will kill harmful bacteria and increases shelf life to up to 120 days.
TBRC’s milk substitutes (non-dairy milk) market report covers:
Major Market Players: Hain Celestial Group, WhiteWave Foods, ADM, Nutriops S.L and Blue Diamond Growers.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Milk Substitutes (Non-Dairy Milk) Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides milk substitutes (non-dairy milk) market overviews, analyzes and forecasts market size, share, milk substitutes (non-dairy milk) market players, milk substitutes (non-dairy milk) market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s milk substitutes (non-dairy milk) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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