SELBYVILLE, Del., Nov. 1, 2020 /PRNewswire/ — Global plant milk market value is expected to cross USD 21 billion by 2026, According to a new research report by Global Market Insights, Inc. An increasing vegan population and changing lifestyles, and also significant developments in the dairy industry, is likely to boost the industry landscape.
Asia-Pacific accounted for the largest share in the plant milk industry of over 50% in 2019, owing to lactose intolerance, diet consciousness and increasing adoption of a vegan diet in the food sector; the market is projected to witness significant gain over the forecast period. Increasing disposal income and purchasing power, the rapid growth of the middle-class population, an increase in consumer awareness about health & fitness, and consumer demand for nutritional & healthy products provide promising prospects to the market players for growth and diversification in the region’s food sector.
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Some major findings of the global plant milk market report include:
Browse key industry insights spread across 150 pages with 302 market data tables and 11 figures & charts from the report, “Plant Milk Market Forecasts By Sales Channel (Mainstream Stores, Specialty Stores), Source (Almond, Soy, Coconut, Rice), Formulation (Unsweetened, Sweetened), Packaging (Carton Packaging, Bottles, Pouches), Industry Analysis Report, Regional, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/plant-milk-market
Sweetened plant milk market is likely to register more than an 11% CAGR over the projected time frame, owing to the rising demand from health-conscious and lactose intolerant Millennials looking for flavoured alternatives to dairy products.
Major manufactures are increasingly adopting strategic expansion measures by mergers and acquisitions to take advantage of well-established distribution networks. Furthermore, industry players are also entering into long term contracts with suppliers to reduce supplier power equilibrium during COVID-19 epidemic and to maintain their position in competitive market scenario, thus boosting market share.
Access the Toc of this report @ https://www.gminsights.com/toc/detail/plant-milk-market
Browse Related Report:
Plant-Based Ingredients Market Analysis By Product (Soy {By Application [Food & Beverages, Dietary Supplements, Infant Foods, Bakery & Confectionery, Meat Substitutes, Animal Feed]}, Rice {By Application [Food & Beverages, Sports & Energy Nutrition, Dairy Alternatives, Bakery & Confectionery, Meat Substitutes, Animal Feed, Cosmetics]}, Pea {By Application [Food & Beverages, Dietary Supplements, Sports Nutrition, Meat Substitutes, Animal Feed]}, Canola {By Application [Food & Beverages, Dietary Supplement, Bakery & Confectionery, Animal Feed]}, Wheat [By Application {Food & Beverages, Dietary Supplements, Bakery & Snacks, Animal Feed, Meat Substitutes]}, Potato [By Application {Food & Beverages, Sports Nutrition, Snacks & Bar, Animal Feed]}, Corn [By Application {Food & Beverages, Sports Nutrition, Snacks, Animal Feed]}, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/plant-based-ingredients-market
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Plant Milk Industry Forecasts 2020-2026
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