Apr 17, 2019 (Heraldkeeper via COMTEX) -- Plant Milk Market is estimated to exceed USD 21 billion by 2024.Growing vegan population resulting in high demand for dairy alternatives is driving plant milk market growth. Improved taste and flavor along with long shelf life is anticipated to fuel the business penetration. Initiatives for reduction of nitrous oxide and methane (greenhouse gas) produced by diary industry, deteriorating environment will stimulate plant milk market share from 2017 to 2024.
2016 Market Size -USD 10 billion
2024 Forecast Value - USD 21 Billion +
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Companies Profiled based on Business Overview, Financial Data, Product Landscape, Strategic Outlook & SWOT Analysis:
-- Archer Daniels Midland Company
-- Daiya Foods Inc
-- The Hain Celestial Group
-- WhiteWave Foods
-- Blue Diamond Growers
-- Freedom Foods Group Limited
-- Eden Foods, Inc.
-- Earth’s Own Food Company Inc
-- New Barn
-- Califia Farms
-- MALK Organics
-- Ripple Foods
North America plant milk market accounted for over 25% share in 2016. Higher incidence of lactose intolerance in Hispanic and Asian-American populations in the U.S. is major driving force for the plant milk market growth. According to National Institute of Children’s Health & Human Development, in the U.S. around 30-50 million people are lactose intolerant. Rise in the number of dairy alternative including soy, almond, coconut and rice will fuel the overall revenue generation. Ongoing launch and projects in pipeline for a range of enhanced blends and flavors of non-dairy beverages from different sources are among key factors driving industry growth of plant milk market.
Key Highlights of report:
Base Year: 2016
Growth Projections - 2017-2024
Historical data coverage: 2013 to 2016
Number of Pages - 300
Data Tables - 302