North America Plant-Based Milk Market

Plant-Based milk refers to the non-dairy beverages made from water-based plant extract mainly used for flavouring and aroma. The Plant-based milk is highly suitable for patients having lactose intolerance and is widely available in different flavours such as Almond milk, Soy milk, Coconut milk, Oat milk and Cashew milk. It offers numerous nutrients including high level of calcium, essential minerals and Omerga-3 fatty acid. The most widely adopted plant-based milk is the Almond milk which contains calcium, vitamin D, E and B12 and acts as an ideal breakfast substitute for customers across all over the world.

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North America Plant-Based Milk market is primarily driven by rise in the number of patients having lactose intolerance and the growing cases of adulteration in the milk industry across the U.S. and Canada. The most commonly used adulterants include acid and formalin which mainly helps in increasing the shelf life of milk. With the growing environmental awareness, the customers are significantly shifting towards plant-based lifestyle and strictly following the vegan diet pattern. This changing demand of the customers towards more healthy diet patterns will positively influence the growth of the North America Plant-based Milk market over the coming years. The sale of dairy milk was decreased by USD 1.1 billion in 2018 due to the growing sales of the plant-based milk industry in the United States. Moreover, the nutritional benefits offered by the plant-based milk will attract a large number of customers towards plant-based milk during the forecast period.

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Based on Product type, the North America Plant-Based Milk market is segmented into Almond Milk, Soy Milk, Coconut Milk, Oat Milk, Cashew Milk and Others. Almond ilk dominated the plant based milk market in 2018 and Almond milk is anticipated to lead the market during the forecast period owing to the growing demand for almond milk among consumers. The Almond milk offers remarkable benefits such as low calories, cholesterol free, high calcium level and easily blends with different condiments. Moreover, the almond milk is devoid of cholesterol and lactose, thereby attracting the vegan consumers towards the adoption of Almond milk in North America.

Based on Category, the North America Plant-Based Milk market is segmented into Refrigerated and Shelf Stable. The Refrigerated segment is expected to grow at the highest CAGR during the forecast period due to the rising demand for refrigerated milk by the local population. The Refrigerated Plant-based milk is pasteurized using high temperature processing technique and is highly cost-effective.

Based on Formulations, the North America Plant-Based Milk market is segmented into Regular and Flavoured. The Flavoured Plant-based milk is anticipated to lead the market during the forecast period owing to the significant shift in the consumer’s taste pattern towards flavoured milk. The flavoured plant-based milk is highly preferred by children under the age of 18 years due to its unique taste along with the nutritional benefits provided to the body.

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Based on Processing Method, the North America Plant-Based Milk market is segmented into Dry Process, Wet Process and Fortification. The Wet Process segment is expected to grow at the highest CAGR during the forecast period due to the increasing demand for a longer shelf-life, cost-effective plant-based milk across the North America. The Wet process mainly involves soaking and grinding of cereals, legumes, nuts and seeds which helps in adding a smooth texture to the milk while maintain a low cost and improves its lifespan.

Based on Packaging type, the North America Plant-Based Milk market is segmented into Pouches, Can, Bottle, Tetra Pack and Gallon. The Gallon packaging is anticipated to lead the market during the forecast period owing to the growing adoption of the Gallon packed Plant-based milk among the end-users across the U.S. and Canada. The Gallon packaging minimizes the risk of spoilage, is easy to store and helps in maintaining longer shelf-life in different temperature range.

Based on Distribution Channel, the North America Plant-Based Milk market is segmented into Online Stores and Offline Stores. The Offline stores is expected to grow at the highest CAGR during the forecast period due to the easy availability of a wide range of products at attractive discount offers. The offline stores provide a proper shelf display of the products along with a detailed information about the ingredients used in the products.

Various notable players operating in the market include Blue Diamond Growers, Earth’s Own Food Company, Danone S.A., Califia Farms, Oatly AB, Elmhurst Milked Direct LLC, Organic Valley, Campbell Soup Company, Hain Celestial Group Inc., Ripple Foods among others.

Key Developments:

• • In 2019, Earth’s Own Food Company Inc. successfully expanded its plant-based beverage line-up to a new delicious flavour, Chocolate Oat. The product is readily available across retailers in order to meet the changing demand of the consumers.
  • In 2019, Blue Diamond Growers collaborated with Grupo Lala S.A.B. da C.V., with an objective to expand the sales and distribution channels of almond-based beverages in Mexico.
    In April 2017, Danone successfully merged with WhiteWave, aiming to operate a new strategic business unit known as “Danone Wave”

The North America Plant-based Milk Market has been segmented based on product, category, formulation, method, packaging and end-user. Based on product, the market is segmented into almond milk, soy milk, coconut milk, oat milk, cashew milk and others. Based on category, the market is segmented into refrigerated and shelf stable. Based on formulation, the market is segmented regular and flavoured. Based on method, the market is segmented into dry process, wet process and fortification. Based on packaging, the market is segmented into pouches, can, bottle, tetra pack and gallon. Based on end user, the market is segmented into online stores and offline stores.

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Key questions answered in this research report:

• • At what pace is the North America Plant-Based Milk market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the North America Plant-Based Milk market? What will be the impact of drivers and restraints in the future?
  • What are the various category areas of the North America Plant-Based Milk market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2018
Market Forecast Period	2019-2026
Market Revenues Currency	USD Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By product, By category, By formulation, By method, By packaging, By end-user
Regional Coverage	North America
Companies Profiled	Blue Diamond Growers, Earth’s Own Food Company, Danone S.A., Califia Farms, Oatly AB, Elmhurst Milked Direct LLC, Organic Valley, Campbell Soup Company, Hain Celestial Group Inc., Ripple Foods
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

North America Plant-Based Milk Market by Product

• • Almond milk
  • Soy milk
  • Coconut milk
  • Oat milk
  • Cashew milk
  • Others

North America Plant-Based Milk Market by Category

• • Refrigerated
  • Shelf stable

North America Plant-Based Milk Market by Formulation

• • Regular
  • Flavoured

North America Plant-Based Milk Market by Method

• • Dry process
  • Wet process
  • Fortification

North America Plant-Based Milk Market by Packaging

• • Pouches
  • Can
  • Bottle
  • Tetra pack
  • Gallon

North America Plant-Based Milk Market by Packaging

• • Online Stores
  • Offline Stores

North America Plant-Based Milk Leading market players (Option 5: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Blue Diamond Growers
  • Earth’s Own Food Company
  • Danone S.A.
  • Califia Farms
  • Oatly AB
  • Elmhurst Milked Direct LLC
  • Organic Valley
  • Campbell Soup Company
  • Hain Celestial Group Inc.
  • Ripple Foods