Milk Substitutes (Non Dairy Milk) Global Market Sees Growth Rate Of 14% Through 2022

The global milk substitutes market size is expected to grow from $26.29 billion in 2021 to $30.03 billion in 2022 at a compound annual growth rate (CAGR) of 14.2%. The global non-dairy milk market size is expected to grow to $50.78 billion in 2026 at a CAGR of 14.0%.

What is the Global Milk Substitutes (Non Dairy Milk) Market?

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.

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What drives the Global Milk Substitutes (Non Dairy Milk) Market?

The increasing consumers’ preference for vegan food is driving the milk substitutes market. Consumers are increasingly becoming aware about animal abuse at dairy farms and are avoiding animal-based products. Vegan milk is cholesterol-free, rich in vitamin D and proteins and provides more calcium than animal milk. According to a report by Mintel, sales of non-dairy milk in the USA grew 61% over the last five years. The rising shift towards veganism and health consciousness is driving the milk substitutes market.

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Global Milk Substitutes (Non Dairy Milk) Market Segments
The global milk substitutes market is 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 regions covered in the milk substitutes (non dairy milk) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Milk Substitutes (Non Dairy Milk) Global Market Report 2022provides market size and growth forecasts for the global milk substitutes (non dairy milk) market, global milk substitutes market share, milk substitutes market segments and geographies, milk substitutes market competitive landscape including leading competitors’ revenues, profiles and market shares. The milk substitutes market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Milk Substitutes (Non Dairy Milk) Industry Playersinclude Hain Celestial Group, WhiteWave Foods, ADM, Nutriops S.L and Blue Diamond Growers. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.