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Global Market Insights, Inc. has announced the launch of Plant Milk Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

Rising trend for consuming plant-based beverages as a protein source will drive product market growth. Increasing concern regarding lactose intolerance is one of the major drivers supporting product penetration. In addition, growing consumer consciousness regarding healthy diet will influence plant milk market.

Consumption of naturally lactose-free, low cholesterol dairy products along with sensitivity reactions to foods are key factors propelling product demand. Manufacturers are anticipated to launch innovative offerings in line with changing consumer trend that focuses on favorable aspects such as taste profile and nutritional value.

Almond source will observe growth over 11% up to 2024. Factors such as delicious taste and texture, high vitamin, mineral and no lactose content compared to other alternatives such as soy will propel product demand. Rising environmental concern and sustainability issues concerning traditional dairy production will also support industry growth. Specialty stores accounted for more than 10% industry share in 2016. Increasing consumer expectation for wider product selection, compelling shopping environment, and expert service will augment plant milk market from this distribution channel.

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Carton packaging accounted for over 65% of Plant Milk Market Share in 2016. Increased innovation in production of varied range of carton packaging offering barrier from UV radiations, moisture and harmful gases & odor will stimulate industry growth of plant milk market. Eco- friendly and recyclable properties exhibited by carton packaging will fuel product demand.

Global industry share is highly fragmented owing to presence various local and international vendors. Some of the key players include Ripple Foods, Danone, Archer-Daniels-Midland, WhiteWave Foods, Califia Farms, Hain Celestial Group, Daiya Foods and Freedom Foods. Key players are capitalizing in innovation with new flavors and natural sweeteners to support stronger growth of the plant milk market.

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North America plant milk market accounted for over 25% share in 2016. Changing dietary patterns and rising income level will propel industry growth. Consumer consciousness regarding health benefits associated with dairy alternative drinks consumption over traditional one has enhanced product demand.

Asia Pacific demand will witness a CAGR over 13% up to 2024. The regional growth attributed to rising lactose intolerance population. Increasing awareness among consumers about growth-related hormones and antibiotics found in the beverages processed by dairy industry is likely to influence regional demand.

Increasing commercialization and new product launches will provide a strong business outlook for manufacturers. Extensive communication campaign across TV, outdoor and digital services is likely to be the key strategy to accelerate plant milk market. For instance, Vitasoy added two new products to its plant-based product portfolio named Almond and Coconut Milky in 2017.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making.

These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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