Europe Plant-Based Milk Market

Introduction of the Europe Plant-Based Milk Market Report

Plant-Based milk is a non-dairy beverage that is made from water-based plant extract and is used for flavoring and aroma. Plant-based milk is mostly preferred by people suffering from lactose intolerance and has various flavors such as Almond milk, Coconut milk, Soy milk, Oat milk, and Cashew milk. It provides various nutrients such as an ample amount of calcium, Omerga-3 fatty acid, and essential minerals. Almond milk consists of calcium, vitamin D, E, and B12 and is considered a perfect breakfast substitute for individuals around the world.

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Market Dynamic

Key Drivers and Emerging Trends

The increasing awareness regarding the health benefits offered by plant-based milk is one of the biggest factors that is contributing to the growth of the Europe Plant based milk market share. With the emerging trend of the vegan diet, consumers are increasingly opting for plant milk, which is extracted from different sources such as soy, almond, coconuts, rice, and oats. Plant-based milk is also rich in minerals, vitamins, carbohydrates, and proteins. It has wide application in the food and beverage industry as it is mostly used for flavoring and aroma in several products. Moreover, the increasing incidences of overweight and diabetes is encouraging the patients to consume plant-based milk rather than dairy products. According to the World Health Organization analysis, an average of 20.4% of children is overweight, which includes 9.4% of children that are considered obese and 2.4% severely obese. In addition to this, 1 person in 4 consumes fruit and vegetables less than once a day. All these factors are opening new doors for the growth in the demand of the plant based milk market share in terms of revenue.

The rising awareness related to the harmful impacts of sugar-based products, such as causes weight gain, increases risk of heart diseases, bad for the skin, and leads to diabetes, has shifted consumers’ preference towards healthy food plant-based milk products. Furthermore, plant-based milk helps in eliminating the possibilities of greenhouse gas emissions and maintains ecological food-chain. As per the GMI Research analysis, UK is one of the leading countries in alternative dairy market and is expected to reach GBP 565 million GBP by 2025. The rising popularity of vegan, vegetarian, and flexitarian diet patterns are moving the consumers towards dairy alternatives such as soy milk, almond milk, and other types of plant-based milk products.

The outbreak of the COVID-19 pandemic has positively influenced the growth of the market. With the spreading of coronavirus, people are now focusing on their health and are actively looking for food products that will help in boosting their immune systems. This factor has pulled them towards the plant-based milk market, particularly in Spain, Italy, France, and the UK.

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Product Type – Segment Analysis

Based on the Product Type, the almond milk segment is anticipated to lead the market during the forecast period. The strong demand for almond milk as it provides various exceptional benefits such as low calories, high calcium level, cholesterol-free, and is easily blended into different condiments, which is a major factor that is supporting the growth of the segment in the market. Furthermore, the increasing cases of lactose intolerance and hypercholesterolemia are further motivating the consumers towards the adoption of almond milk instead of consuming dairy products.

Category – Segment Analysis

On the basis of the category, the Refrigerated segment is projected to grow at a higher CAGR during the forecast period. This is attributed to the strong demand for refrigerated milk, particularly in Spain, Italy, and the UK. The refrigerated plant-based milk is pasteurized by the process of high-temperature processing technique and is considered a cost-effective solution.

Formulation – Segment Analysis:

Based on the Formulation, the flavoured plant-based milk segment is expected to dominate the market over the coming years. The emerging trend of consuming flavored milk due to its outstanding taste is a significant factor that is surging the growth of the segment in the market. The flavoured plant-based milk is being increasingly opted by children under the age of 18 years as the parent’s are focusing on improving their children’s health.

Packaging – Segment Analysis:

Based on the Packaging, the gallon segment is expected to experience faster CAGR during the forecast period. The accelerating adoption of gallon-packed plant-based milk as it eliminates the chances of spoilage, is easy to store, and have longer shelf-life, is one of the biggest factor that is surging the demand of the segment in the market.

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Countries – Segment Analysis:

Based on the countries, UK is predicted to dominate the Europe Plant-based milk market over the forecast period. The increasing popularity of vegan and vegetarian diet pattern is increasing the consumption of plant-based milk alternatives in the country. The pant-based milk is entering the mainstream as these products are more readily available in the supermarket shelves. In the United Kingdom, the plant-based milk market is driven by the surge in the sales of oat milk, which amounted to more than 70%, followed by the increasing sales of coconut milk, which rose by 16% and almond milk which boosted by 10% in 2019. 

Segments covered in the Report:

The Europe 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. 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 Europe Plant-Based Milk market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Europe Plant-Based Milk market? What will be the impact of drivers and restraints in the future?
  • Which packaging generated maximum revenues in 2019 and identify the most promising packaging during the forecast period?
  • What are the various formulations of Europe 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	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By product, By category, By formulation, By method, By packaging, By end-user, By Countries
Regional Coverage	Europe
Companies Profiled	Profiles of Top 10 Major Companies Operating in “Europe Plant-Based Milk Market”
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

Europe Plant-Based Milk Market by Product

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

Europe Plant-Based Milk Market by Category

• • Refrigerated
  • Shelf stable

Europe Plant-Based Milk Market by Formulation

• • Regular
  • Flavoured

Europe Plant-Based Milk Market by Method

• • Dry process
  • Wet process

Europe Plant-Based Milk Market by Packaging

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

Europe Plant-Based Milk Market by Packaging

• • Online Stores
  • Offline Stores

Europe Plant-Based Milk Market by Countries

• • UK Plant-Based Milk Market All-Up (Option 1: As a part of the free 25% customization)
  • Germany Plant-Based Milk Market All-Up (Option 2: As a part of the free 25% customization)
  • France Plant-Based Milk Market All-Up (Option 3: As a part of the free 25% customization)
  • Spain Plant-Based Milk Market All-Up (Option 4: As a part of the free 25% customization)
  • Rest of Plant-Based Milk Market All-Up (Option 5: As a part of the free 25% customization)