Plant-based Milk Market Size
| Study Period | 2020 - 2030 |
| Market Size (2025) | USD 21 Billion |
| Market Size (2030) | USD 29.78 Billion |
| CAGR (2025 - 2030) | 7.24% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Plant-based Milk Market Analysis
The Plant-based Milk Market size is estimated at USD 21.00 billion in 2025, and is expected to reach USD 29.78 billion by 2030, at a CAGR of 7.24% during the forecast period (2025-2030).
The rising trend of veganism bolstered the demand for plant-based milk, a trend set to continue during the forecast period. The increasing prevalence of lactose intolerance and dairy allergies in infants further fuels this surge. For instance, as of 2023, lactose intolerance was around 16% in Germany and 8% in the United Kingdom, according to the World Population Review. Factors such as the widespread occurrence of lactose intolerance, allergies to cow's milk, and an increasing emphasis on health and wellness are propelling the growth of the plant-based milk market. In addition to coconut and rice milk, various other non-dairy milk alternatives are gaining popularity. Notably, coconut milk serves versatile purposes, including cooking, baking, and enhancing food flavors.
Plant milk producers are pushing boundaries, innovating with sustainable ingredients. They craft products that cater to diverse consumer preferences, provide unique experiences, and meet the demand for flavorful 'milk' alternatives. This wave of innovation sees a diverse array of ingredients like soy, oat, rice, coconut, flax, hemp seeds, pea protein, upcycled barley, potato starch, cassava root, and hazelnuts being utilized. Furthermore, depending on the type, plant-based milk is fortified with essential nutrients such as calcium, vitamin D, and B vitamins. These nutrients are crucial for bone health, immune function, and well-being. For instance, in 2024, PLANTSTRONG Foods launched the cleanest, fortified, whole plant-based milks on the market. They are exclusively available in over 500 Whole Foods Market stores in United States.
Plant-based Milk Market Trends
Almond Milk Drives the Market
As the global population's lactose intolerance rises and consumer preferences pivot towards healthier options, the demand for plant-based milk, particularly almond milk, is surging worldwide. For instance, in 2023, a total of approximately 17% of participants in selected European countries stated that they consume plant-based milk four or more times a week, according to the Smart Protein Project. Almond milk has surged ahead, overtaking traditional dairy as the preferred choice among consumers. The escalating global production of almonds primarily fuels this shift. In 2022/23, the USDA's Foreign Agricultural Service reported a global almond production of approximately 1,467.64 metric tons. This uptrend in almond production is directly translating to a consistent rise in almond milk output. Notably, frequent product introductions play a pivotal role in bolstering almond milk sales worldwide.
For instance, in 2023, Califia Farms, a leading, premium plant-based beverage brand, expanded its line of dairy-free products with the launch of USDA-certified Organic Oatmilk. With just three simple ingredients- purified water, sea salt, almonds, and no oils or gums. They are available at Kroger Co., Whole Foods Market, Sprouts Farmers Market, and other retailers nationwide. Thus, innovations is one of the major strategy adopted driving the almond milk market.
Asia-Pacific is the Fastest-Growing Market
The region is expected to maintain its dominance throughout the forecast period due to the rising demand for lactose-free milk and low-fat dairy products, driven by healthier lifestyle choices in urban areas. India, China, Taiwan, and Singapore are key contributors to this market trend. The region is witnessing a notable surge in demand for dairy-free products, propelled by heightened consumer health awareness. This shift is underscored by a growing preference for plant-based alternatives, such as almond and oat milk, largely in response to mounting greenhouse gas emissions associated with traditional dairy production. Notably, consumers are increasingly gravitating towards almond milk, driven by a heightened focus on health and fitness. As of 2023, Japan boasted around 2.8 million fitness club members, as reported by the METI (Japan).
As the plant-based diet movement spreads across the world, an increasing number of foreign businesses are aiming to expand into the lucrative Asia-Pacific market. In 2023, Life Health Foods (India) Pvt. Ltd., a pioneer in the plant-based beverage segment, launched the new vegan drink So Good Oat Caramel beverage – a dairy-free, plant-based milk. The Oats have a unique Caramel flavour. Similarly, in August 2022, Simple Food, the maker of 137 Degrees almond milk in Thailand, launched two new plant-based milks: Traditional Chinese Almond Milk and Macadamia Milk.
Plant-based Milk Industry Overview
In the plant milk-based market, companies are focused on developing new marketing strategies and introducing new products based on value-added ingredients to compete in the market. Some major plant-based milk-producing companies include Groupe Danone, Alpina Foods, Blue Diamond Growers, Inc., Hain Celestial Group, Inc., Döhler GmbH, and Earth’s Own Food Company Inc. There is a wide range of private-label brands, particularly the supermarket/hypermarket chains in developed markets and traditional grocery stores/convenience stores/specialty retail stores/health stores in developing economies.
The growing demand from the Asia-Pacific region is expected to change the market dynamics in the coming years, as many private-label players are entering the region. Hence, the market studied is fragmented in nature. The players in the market have been using strategies like product innovations, mergers, and acquisitions to thrive in the market studied.
Plant-based Milk Market Leaders
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Groupe Danone
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Alpina Foods
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Blue Diamond Growers
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Hain Celestial Group, Inc.
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Döhler GmbH
- *Disclaimer: Major Players sorted in no particular order
Plant-based Milk Market News
- May 2024: Lactalis Canada, a subsidiary of the French dairy giant, introduced a new plant-based milk brand to the market. The six-strong lineup is unsweetened and high in protein and comprises oat, almond, and hazelnut milk.
- January 2024: Oatly Group AB has introduced two innovative beverages in the United States, Unsweetened Oatmilk and Super Basic Oatmilk. The Super Basic variant comprises four ingredients: water, oats, sea salt, and citrus zest fiber. The latter, an upcycled byproduct from the juice industry, offers excellent texturizing and stabilization properties.
- August 2023: An oat milk company named Oatley from Swidden built a new manufacturing plant in Idaho, US. This plant milk can produce about 120 million liters of oat milk annually. Such a move will strengthen Oatly's presence in the US market.
Plant-based Milk Industry Segmentation
Plant-based milks are non-dairy beverages made from a water-based plant extract for flavoring and aroma. Plant-based milk is consumed as an alternative to dairy milk. By product type, the market is segmented into Soy Milk, Coconut Milk, Almond Milk, Oat Milk, and Others. By formulation, it is segmented into flavored and plain/unflavored. By distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores/grocery stores, online retailing, and others. Also, by geography, the market is segmented into North America, Europe, South America, Asia-Pacific, the Middle East, and Africa. The market sizing has been done in value terms in USD for all the above-mentioned segments.
| Product Type | Soy Milk | ||
| Coconut Milk | |||
| Almond Milk | |||
| Oat Milk | |||
| Others | |||
| Formulation | Flavored | ||
| Plain/Unflavored | |||
| Distribution Channel | Hypermarkets/Supermarkets | ||
| Convenience stores/Grocery stores | |||
| Online retailing | |||
| Others | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Rest of North America | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Russia | |||
| Spain | |||
| Rest of Europe | |||
| Asia Pacific | India | ||
| China | |||
| Japan | |||
| Australia | |||
| Rest of Asia-Pacific | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle East | United Arab Emirates | ||
| Saudi Arabia | |||
| Rest of Middle East | |||
| Soy Milk |
| Coconut Milk |
| Almond Milk |
| Oat Milk |
| Others |
| Flavored |
| Plain/Unflavored |
| Hypermarkets/Supermarkets |
| Convenience stores/Grocery stores |
| Online retailing |
| Others |
| North America | United States |
| Canada | |
| Mexico | |
| Rest of North America | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Russia | |
| Spain | |
| Rest of Europe | |
| Asia Pacific | India |
| China | |
| Japan | |
| Australia | |
| Rest of Asia-Pacific | |
| South America | Brazil |
| Argentina | |
| Rest of South America | |
| Middle East | United Arab Emirates |
| Saudi Arabia | |
| Rest of Middle East |
Plant-based Milk Market Research FAQs
How big is the Plant-based Milk Market?
The Plant-based Milk Market size is expected to reach USD 21 billion in 2025 and grow at a CAGR of 7.24% to reach USD 29.78 billion by 2030.
What is the current Plant-based Milk Market size?
In 2025, the Plant-based Milk Market size is expected to reach USD 21 billion.
Who are the key players in Plant-based Milk Market?
Groupe Danone, Alpina Foods, Blue Diamond Growers, Hain Celestial Group, Inc. and Döhler GmbH are the major companies operating in the Plant-based Milk Market.
Which is the fastest growing region in Plant-based Milk Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Plant-based Milk Market?
In 2025, the Europe accounts for the largest market share in Plant-based Milk Market.
What years does this Plant-based Milk Market cover, and what was the market size in 2024?
In 2024, the Plant-based Milk Market size was estimated at USD 19.48 billion. The report covers the Plant-based Milk Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Plant-based Milk Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Plant-based Milk Industry Report
Statistics for the 2025 Plant-based Milk market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Plant-based Milk analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
