Soaring number of people opting for plant based milk has been attributed to lactose intolerance and cow’s milk allergy. Besides, plant-based milk market has been able to tap regions where mammal milk has been expensive or scarce. These insights are according to the intelligence, report, titled, "Plant-based Milk Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2029," which has been freshly added to Market Research Hub’s (MRH) ever-expanding repository.
Soy Milk Continues Its Dominance
With spiraling consumer demand for alternatives to dairy, a myriad of plant-based milk products have forayed in the market. Over the decades, soy milk has garnered unparalleled attention for the amount of isoflavones they contain. Similarly, soy milk is one of the top three genetically modified organisms (GMOs) in the U.S.
Even though soy milk continues its dominance in North America, flourishing alternative products such as almond, oat, hemp, coconut and pea have dented the growth of soy milk. Meanwhile, oat milk could be an ideal option for people with seed and nut allergies. Nevertheless, the market for plant-based milk is expected to witness a bullish growth and is set to expand at a CAGR of ~8% by 2029-end.
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Pertinent Players Invest in Small Companies
Leading players are investing in small companies to seize the opportunity in plant-based milk market. Venture arm of Danone Danone Manifesto Ventures led a US$ 30 million investment in 2018 to establish a stake in Harmless Harvest, producer of Organic and Fair for Life Coconut Water and Coconut Probiotics in the U.S.
Plant-based Milk Market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the plant-based milk market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the plant-based milk market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on plant-based milk.
An insightful and deep-dive assessment of the competitive assessment of the plant-based milk market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the plant-based milk market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
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Plant-based Milk Market: Research Methodology
Primary sources and secondary sources propel intelligence report on plant-based milk market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on plant-based milk market further acknowledges secondary sources-namely-Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.
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