Plant-based milk is a beverage made from plants that resemble milk in appearance. Plant milk is a non-dairy beverage flavored and scented with water-based plant extracts. Plant-based milk is consumed as a vegan alternative to dairy milk. Plant-based milk has a creamy texture if compared with dairy milk. For the production of plant milk, various plants are used. Moreover, plant-based milk is the best alternative for consumers who are unable or do not want to consume typical dairy milk derived from cows, sheep, or goats. In addition, some people switch to plant-based milk due to an allergy or intolerance to animal-based milk, particularly lactose intolerance.
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Data Bridge Market Research analyzes that the North America Plant-Based Milk Market is expected to reach USD 10,821.40 million by 2030 from USD 4,389.67 million in 2022, growing at a CAGR of 12.0% in the forecast period of 2023 to 2030. The increase in the vegan population around North America is expected to grow the market.
Key Findings of the Study
Increasing Vegan Population around North America is Expected to Drive the Market Growth Rate
The vegan market has exponentially increased over the past ten years, making more people turn to plant-based diets each year. The increased health awareness has augmented the demand for natural and organic food. This has driven a major part of the population to change their lifestyle and diet drastically. The vegan community concentrates on eating foods that have ingredients or other components that come from plants. The risk of several diseases, such as heart disease, type 2 diabetes, hypertension, certain types of cancer, and obesity, is decreased by properly planned vegan diets, according to the Academy of Nutrition and Dietetics. As a result, some of these vegetarian or vegan customers have begun to pay attention to plant-based milk in their daily diet.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Type (Almond Milk, Coconut Milk, Cashew Nut Milk, Walnut Milk, Hazelnut Milk, Soy Milk, Oat Milk, Rice Milk, Flax Milk, and Others), Product Type (Refrigerated Milk and Shelf Stable Milk), Category (Organic and Conventional), Formulation (Sweetened and Unsweetened), Flavor (Original/Unflavored, Vanilla, Chocolate, Honey, Coconut Blend, Hazelnut Blend, Caramel, Maple, Coffee, and Others), Fortification (Regular and Fortified), Nature (GMO and Non-GMO), Claim (Regular, Gluten Free, Nut Free, Soy Free, Artificial Preservatives & Color Free, and Others), Packaging Size (Less than 100 ml, 110 ml, 250 ml, 500 ml, 1000 ml, and More than 1000 ml), Packaging Type (Tetra Packs, Bottles, and Can), Distribution Channel (Store based Retailers and Non-Store Based Retailers)
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Regions Covered
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U.S., Canada, and Mexico
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Market Players Covered
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WhiteWave Services, Inc. (U.S.), Alpro (Belgium), THE HAIN CELESTIAL GROUP, INC. (U.S.), SUNOPTA (U.S.), Califia Farms, LLC (U.S.), NotCo (Chile), YEO HIAP SENG LTD. (China), Natura Foods (Canada), Oatly AB (Sweden), Elmhurst Milked Direct LLC (U.S.), Manitoba Milling Company (U.S.), HP Hood LLC. (U.S.) and among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis
The North America plant-based milk market is segmented into eleven notable segments based on type, product type, category, formulation, flavor, fortification, nature, claim, packaging size, packaging type, and distribution channel.
- On the basis of type, the market is segmented into almond milk, coconut milk, cashew milk, walnut milk, hazelnut milk, soy milk, oat milk, rice milk, flax milk, and others
In 2023, the almond milk segment is expected to dominate the North America plant-based milk market
In 2023, the almond milk segment is expected to dominate the market with a 38.30% market share as it makes various baking and confectionery products, including chocolates, sweets, and muffins.
- On the basis of product type, the market is segmented into refrigerated milk and shelf stable milk
In 2023, the refreigerated milk segment is expected to dominate the North America plant-based milk market
In 2023, the refrigerated milk segment is expected to dominate the market with a 86.75% market share due to increasing demand for convenience food and technological advancements in the cold chain market.
- On the basis of category, the market is segmented into organic and conventional. In 2023, the conventional segment is expected to dominate the market with a 71.79% market share
- On the basis of formulation, the market is segmented into sweetened and unsweetened. In 2023, the unsweetened segment is expected to dominate the market with a 74.37% market share
- On the basis of flavor, the market is segmented into original/unflavored, vanilla, chocolate, honey, coconut blend, hazelnut blend, caramel, maple, coffee, and others. In 2023, the original/unflavored segment is expected to dominate the market with a 45.00% market share
- On the basis of fortification, the market is segmented into regular and fortified. In 2023, the regular segment is expected to dominate the market with an 83.00% market share
- On the basis of nature, the market is segmented into GMO and non-GMO. In 2023, the non-GMO segment is expected to dominate the market with a 97.92% market share
- On the basis of claim, the market is segmented into regular, gluten free, nut free, soy free, artificial preservatives & color free, and others. In 2023, the regular segment is expected to dominate the market with a 50.34% market share
- On the basis of packaging size, the market is segmented into less than 100 ml, 110 ml, 250 ml, 500 ml, 1000 ml, and more than 1000 ml. In 2023, the 1000 ml segment is expected to dominate the market with a 52.16% market share
- On the basis of packaging type, the market is segmented into tetra packs, bottles, and can. In 2023, the tetra packs segment is expected to dominate the market with an 87.32% market share
- On the basis of distribution channel, the market is segmented into store based retailers and non-store based retailers. In 2023, the non-store retailers segment is expected to dominate the market with a 75.57% market share
Major Players
Data Bridge Market Research analyzes THE HAIN CELESTIAL GROUP, INC. (U.S.), Alpro (Belgium), Oatly AB (Sweden), Califia Farms, LLC (U.S), and Natura Foods (Canada) as the major market players in North America plant-based milk market.
Market Development
- In January 2023, Califia Farms expanded its award-winning dairy-free product range by introducing USDA-certified Organic oats and Almond milk. The company's newest products were created to satisfy the demands of customers looking for products with fewer ingredients and are available at Kroger Co., Whole Foods Market, Sprouts Farmers Market, and other retailers nationwide
- In November 2022, the company declared that the following September conferences would see participation from the Company: Barclays Global Consumer Staples Conference in Boston & Piper Sandler Growth Frontiers Conference in Nashville. This participation helped the company to attract the attention of a new consumer base
- In April 2022, Califia Farms introduced three new plant milks: Original Oat Milk, Vanilla Oat Milk, and Unsweetened Almond Barista Mix. The brand-new plant milk from Califia is fortified with calcium and vitamin D and has no added sugar. In addition, oat milk contains dietary fiber crucial for digestive health
- In January 2022, Oatly AB’s freshly reformulated line of Oatgurts, a variety of delicious non-dairy yogurt substitutes offered in five enticing flavors, will be the first of the brand's goods in North America to bear the introduction of climate footprint labeling, according to a press release from Oatly AB The initiative to calculate climate footprints, which are meant to be the best estimates of a product's climate impact, directly reflects Oatly's stance that consumer choice and education play a crucial part in determining the future of our food system. This new announcement and the product line will help the company to get a brand image in the North American region
- In October 2022, NotCo announced NotMilk Chocolate, a plant-based alternative that tastes, feels, cooks, and functions similarly to its animal-based counterpart. This new variety has a rich and creamy chocolate flavor with less sugar than other chocolate milk
Regional Analysis
Geographically the countries covered in this market are U.S., Canada, and Mexico.
As per Data Bridge Market Research analysis:
The U.S. is expected to dominate and to be fastest growing country in North America plant-based milk market
The U.S. is expected to dominate and to be fastest growing country in market due to large production, easy availability of products, and increased customers.
For more detailed information about the North America plant-based milk market report, click here – https://www.databridgemarketresearch.com/reports/north-america-plant-based-milk-market
