Global Milk Substitutes (Non-Dairy Milk) Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
26 Nov, 2021
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The milk substitutes (non-dairy milk) market consists of sales of milk substitutes. This industry includes establishments that produce milk substitutes such as soy milk, almond milk and rice milk.
Global Milk Substitutes (Non-Dairy Milk) Market Size And Drivers:
The global milk substitutes market is expected to grow from $19.93 billion in 2020 to $21.44 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The non-dairy milk market is expected to reach $31.28 billion in 2025 at a CAGR of 9.9%. The increasing consumers’ preference for vegan food is driving the milk substitutes market.
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Trends In The Global Milk Substitutes (Non-Dairy Milk) Market
Non-dairy milk producing companies are increasingly focusing on improving the shelf life of their products. Companies are trying to decrease the rate of bacterial formation in non-dairy milk through bacterial clarification using separators intended to remove bacterial spores. Ultra-pasteurization involves heating milk to a temperature of more than 280°F for at least 2 seconds that will kill harmful bacteria and increases shelf life to up to 120 days. For instance, soymilk produced by SunOpta is processed using ultra-pasteurization and has an extended shelf life of 12 months. Also, ultra-pasteurized almond milk by Pacific Foods has a shelf life of about a year.
Global Milk Substitutes (Non-Dairy Milk) Market Segments:
The global milk substitute market is further segmented –
By Type: Soy Milk, Almond Milk, Rice Milk, Others
By Application: Food, Beverages
By Distribution Channel: Supermarkets, Hypermarkets, Convenience Stores, Specialty Stores, Online Retail Stores, Others
By Formulation: Plain-Sweetened, Plain-Unsweetened, Flavored-Sweetened, Others
By Geography: The global nondairy milk market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/milk-substitutes-non-dairy-milk-global-market-reportMilk Substitutes (Non Dairy Milk) Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides milk substitutes (non-dairy milk) market overviews, analyzes and forecasts market size and growth for the global milk substitutes market, milk substitutes market share, milk substitutes (non-dairy milk) market players, milk substitutes (non-dairy milk) market segments and geographies, milk substitutes (non-dairy milk) market’s leading competitors’ revenues, profiles and market shares. The milk substitutes (non-dairy milk) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.