How big is the milk alternatives market?

The market size of milk alternatives reached USD 29.5 billion in 2024 and is set to grow at a 10.6% CAGR from 2025 to 2034, driven by rising health and wellness trends and increasing demand for sustainable and vegan options.

Why is the soy segment significant in the milk alternatives industry?

The soy segment was valued at over USD 8.7 billion in 2024 and is expected to expand at a CAGR of over 10% through 2034 due to its high protein content and wide acceptance as a traditional plant-based milk option.

How much is the U.S. milk alternatives market worth?

The U.S. market was valued at USD 10.3 billion in 2024 and is poised to witness 10.2% CAGR through 2034, fueled by increasing demand for plant-based, lactose-free, and vegan-friendly products.

Who are the major players in the milk alternatives industry?

The key players in the industry include Califia Farms, Danone, Freedom Foods, MALK Organics, New Barn, Inc., Pacific Foods, So Delicious, Tofutti Brands Inc., and Valsoia SpA.

Milk Alternatives Market Share

Report ID: GMI12709

Published Date: December 2024

Report Format: PDF

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Milk Alternatives Market Share

Milk Alternatives Market Company Share, 2024

Market players in the milk alternatives sector adopt various strategies to maintain competitiveness and drive growth. Key strategies include product innovation, with a focus on new flavors, fortified options, and diverse plant sources like oat, almond, and pea. Companies are expanding their distribution networks through partnerships with supermarkets, online retailers, and foodservice chains to increase accessibility.

Marketing campaigns highlighting sustainability, health benefits, and ethical sourcing resonate with eco-conscious consumers. Strategic acquisitions and collaborations, such as partnerships with dairy producers, are also common to enhance production capabilities. Additionally, players invest in clean-label products and environmental sustainability initiatives to align with consumer preferences.

Milk Alternatives Market Companies

Major players operating in the milk alternatives industry are:

Califia Farms
Danone
Freedom Foods
MALK Organics
New Barn, Inc.
Pacific Foods
So Delicious
Tofutti Brands Inc.
Valsoia SpA

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Question(FAQ) :

How big is the milk alternatives market?: The market size of milk alternatives reached USD 29.5 billion in 2024 and is set to grow at a 10.6% CAGR from 2025 to 2034, driven by rising health and wellness trends and increasing demand for sustainable and vegan options.
Why is the soy segment significant in the milk alternatives industry?: The soy segment was valued at over USD 8.7 billion in 2024 and is expected to expand at a CAGR of over 10% through 2034 due to its high protein content and wide acceptance as a traditional plant-based milk option.
How much is the U.S. milk alternatives market worth?: The U.S. market was valued at USD 10.3 billion in 2024 and is poised to witness 10.2% CAGR through 2034, fueled by increasing demand for plant-based, lactose-free, and vegan-friendly products.
Who are the major players in the milk alternatives industry?: The key players in the industry include Califia Farms, Danone, Freedom Foods, MALK Organics, New Barn, Inc., Pacific Foods, So Delicious, Tofutti Brands Inc., and Valsoia SpA.

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Authors: Kiran Pulidindi, Kunal Ahuja

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Premium Report Details

Base Year: 2024

Companies covered: 9

Tables & Figures: 165

Countries covered: 18

Pages: 235

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Milk Alternatives Market Share

Milk Alternatives Market Share

Milk Alternatives Market Companies

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