Market Research Report
North America Plant-Based Milk Market Outlook, 2026
|North America Plant-Based Milk Market Outlook, 2026|
Published: December 30, 2021
Bonafide Research & Marketing Pvt. Ltd.
Content info: 68 Pages
Delivery time: 1-2 business days
North Americans are an epitome to the developing economies of the world, as their way of life is imitated by the populace around the world. Similarly, the Vegan diet trend is followed all over the world. A study conducted in 2020, has revealed that the number of Americans following plant based diets is increased by nearly 9.6 million over the last 15 years. This is nearly 3% of the population in the United States. The most prominent vegan states are Oregon, Vermont, Washington, and California and the states which are most reluctant to seek out vegan trends are Mississippi, followed by South Dakota, Alabama and North Dakota. However, the states that are seeing biggest change in adoption of the plant based food include Nevada and New Hampshire. Plant based diets have become more established foods but the change is very imbalanced. In recent years, it has achieved more acceptance and new varieties have been introduced in response to increasing demand.
According to the research report "North America Plant Based Milk Market Outlook, 2026" published by Bonafide Research, the plant based milk market is expected to grow at a CAGR of 8.62% during the forecast period. The global plant based milk market is three times more than plant based meat market, which is prudent that plant based milk market is a matured market. North America includes USA, Canada, Mexico and Rest of America, out of which USA, Canada and Mexico holds the majority capture of plant based milk market. While, the smaller countries like Jamaica, Dominica, Cuba, Costa Rica, Bahamas and others have a very mere populace adopting to plant based milk. The vegan food trend is more exemplified in larger and prominent countries of North America than the less developed smaller ones. With the presence of leading manufacturer Blue Diamond Growers, of Almond milk based in California, the almond milk is widely consumed in North America. Almond milk is fast replacing the traditional soy milk as it is low in calorie and the new versions come fortified with calcium. Also, the plenty of money spent on marketing of these plant based milks has proven to be successful. Americans became weary of the fact that, too much soy can lead to hormone disruption, thyroid problems, and possibly an increased risk for breast cancer for certain women. People were turned off by soy, and looking out for an alternative; at the exact same time, the almond milk miraculously appeared in the dairy case.
Oat milk market in this region grew by 2.42% during the period 2019-2020, and has paved its way to become one of the fastest growing markets during the forecast period with a power to cross over 10% market share globally. Rice milk and coconut milk are gaining traction in the plant based milk market of North America, as consumers want to try out different types of milk. The other types of milk like Cashew milk, Hazelnut milk are being introduced in the market, with manufacturers experimenting with new nut milks. The flavoured plant based milk market is expected to grow enormously, as manufacturers are bringing new flavours on the shelf like Berry, Hazelnut, Coffee, Mocha and Coconut. While, Chocolate, Vanilla and Strawberry are well established and have succeeded in capturing majority of the market share. The majority of sales of plant based milks is enjoyed by supermarkets/ hypermarkets as they have a very well developed supply chains and distribution channels. While, online sales of plant based milks is rapidly expanding as they offer discount schemes and free home delivery options. Today's busy consumers want to enjoy the easy accessible shopping through their luxury home space. Many one-stop shops have put themselves on the web to ease the purchasing process for the consumers. Leading supermarket chains have their own online shopping apps which further paves the market to succeed.
Soy milk is one of the oldest plant based milk and so it is widely available and has massive acceptance globally. Whereas, Almond milk has recently captivated, vital reason being soy milks allergenic property. The report analyses influential trends that are currently determining the growth of the market. It further, interprets important dynamics, such as the drivers, restraints, and opportunities for key market players and also the new entrants with the manufacturing of the plant based milk market. The analyses also state the upholding of the future status of the plant based milk market over the forecast period. A detailed overview of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the plant based milk market, along with their product portfolios, enhances the reliability of this extensive research study.
Growing number of population is turning vegan and the 2020 statistics shows there are 5% vegans, 20% flexitarian and 11% vegetarians around the globe. People in the western countries are more inclined towards plant based milk than the developing countries. Widespread awareness of consuming plant based foods and its positive impacts on health are a major driver for this market. Obesity is on the rise, globally irrespective of varied food cultures in different regions of the world. Plant based milk provides more energy, improves health, balances body weight and adds flavour to milk.
The COVID-19 pandemic has negatively impacted the world economy at large. Major economies were hit hard resulting in decline of GDP to a significant extent. The demand and supply chain disruption led to a decline of plant based milk market in 2020 to a noticeable point. With the tourism industry coming to an halt altogether, the plant based milk market being inversely related suffered. However, the pandemic is now being seen as an advantage to plant based food products, as consumers moving towards healthy food eating habits. Consumers want to refrain from any animal origin product due to spread of diseases.
The Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium Health and Wellbeing Company (Australia), Danone (France), Freedom Foods Group (Australia), Earth's Own Food Company (Canada), Triballat Noyal (France), Valsoia S.p.A (Italy), Panos Brands (US), Melt Organic (US), Oatly (Sweden), Living Harvest Foods (US), Ripple Foods (US), Kite Hill (US), Califia Farms (US), Hudson River Foods Inc. (US), Daiya Foods Inc. (Canada), Pureharvest (Australia), Yoconut Dairy Free (US), and Yumbutter (US)
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to plant based milk industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Keywords: Global, North America, South America, Europe, Middle East, Africa, Asia, Asia-Pacific, India, Japan, USA, Canada, Mexico, UK, Italy, France, soy milk, almond milk, obesity, coconut milk, oat milk, vegan milk, vegan, hemp milk, cashew milk, quinoa milk, hazelnut milk, chocolate milk, coffee milk, nut milk, berry milk, flavoured milk, plain milk, vanilla milk, strawberry milk, alternative milk, soy, pea, lactose, allergy, legumes, organic milk.
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