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Plant Milk Market Trends

  • Report ID: GMI2250
  • Published Date: Jun 2024
  • Report Format: PDF

Plant Milk Market Trends

The introduction of environmentally friendly production methods is emerging as a crucial market trend. As consumer awareness of environmental sustainability grows, manufacturers are increasingly focused on reducing their carbon footprint and minimizing environmental impact during production. This trend includes various initiatives such as sourcing raw materials from sustainable agriculture, optimizing water and energy use during production, using renewable energy sources, and implementing efficient packaging solutions that reduce waste.
 

Companies are also researching innovative technologies and investing in certifications that confirm their commitment to environmentally friendly practices. The goal is to attract environmentally conscious consumers and improve brand image. By prioritizing sustainability in production, the plant-based dairy industry not only meets regulatory requirements but also adapts to changing consumer preferences for products that contribute positively to environmental protection.
 

For instance, In April 2024, Califia announced that all its bottles in the United States and Canada will transition to 100% recycled plastic (rPET), a significant milestone in its sustainability journey. This shift could cut greenhouse gas emissions by at least 19 percent and reduce energy usage by half, underscoring Califia's commitment to environmental responsibility in the beverage industry. 
 

Investment in marketing and branding is another significant trend in the plant milk market. Companies are devoting more resources to building brand awareness, educating consumers about the benefits of plant-based milk, and differentiating their products from the competition in the market. This trend includes targeted advertising campaigns across various media channels, sponsorship of health and sustainability events, and collaborations with influencers and nutritionists to endorse their products. By making marketing activities more effective, companies aim to expand their market area, attract new consumers, and strengthen brand loyalty in an increasingly healthy and environmentally conscious consumer base.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of plant milk reached USD 15.9 billion in 2023 and will witness 11.6% CAGR between 2024 and 2032, owing to the increasing consumer demand for plant-based diets.

The soy segment in the plant milk industry was valued at USD 7.3 billion in 2023 and will grow at 11.7% CAGR during 2024-2032 due to its high protein content and nutritional value.

North America market generated a revenue of USD 4.1 billion in 2023 and will expand at 11.3% CAGR between 2024-2032, driven by high consumer awareness and the strong preference for plant-based diets.

Blue Diamond Growers, Califia Farms, Danone, Elmhurst 1925, Mooala, Nestlé, Oatly AB, Pacific Foods, Plenish, Ripple Foods, SunOpta Inc., The Hain Celestial Group, and WhiteWave Foods among others.

Plant Milk Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 245
  • Countries covered: 22
  • Pages: 180
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