Plant Based Milk Market Report 2025 (Global Edition)

Global Plant Based Milk Market Report 2025 Market Size Split by Product Type (Soy Milk , Almond Milk , Coconut Milk , Cashew Milk , Hemp Seed Milk , Rice Milk , Oat Milk , Peanut Milk , Pea Mi...

Plant Based Milk Market Report Description

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Competitive Landscape of the Plant-Based Milk market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge materials, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Plant-Based Milk Industry News 

In January 2024, Garden Veggie™ Snacks launched kid-loved and Parent-Approved Flavor Burst™ Tortilla Chips. The exciting new snack rivals others in the tortilla chip aisle by bringing irresistible flavor and unmistakable crunch to each bite while staying true to the brand's commitment to providing better-for-you snack options the whole family can enjoy.

(Source:  https://www.prnewswire.com/news-releases/garden-veggie-snacks-launches-kid-loved-and-parent-approved-flavor-burst-tortilla-chips-302046843.html/)

In January 2024, the First KitKat, which used cocoa from the Nestlé Income Accelerator, launched in Europe. 

(Source: https://www.nestle.com/media/pressreleases/allpressreleases/kitkat-cocoa-farming-traceability-income-accelerator)

Top Companies Market Share in Plant Based Milk Industry: (In no particular order of Rank)

• Hain Celestial Group Inc. (U.S.)
• SunOpta Inc. (Canada)
• Sanitarium Health and Wellbeing Company (Australia)
• Axiom Foods
• Inc. (U.S.)
• Earth's Own Food Company Inc. (Canada)
• Sunrise Soya Foods (Canada)
• Campbell Soup Company (U.S.)
• Danone S.A. (France)
• Plamil Foods Ltd (U.K.)
• Sahmyook Foods (South Korea)
• Nestlé S.A. (Switzerland)
• Natura Foods (Canada)
• Blue Diamond Growers (U.S.)
• Oatly Group AB (Sweden). 
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Plant Based Milk Market

Which Region will dominate the Plant Based Milk Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. This region's leading position was propelled by a combination of factors, including widespread consumer adoption of plant-based diets, robust demand for dairy alternatives driven by health and sustainability concerns, and a mature market landscape conducive to product innovation and market expansion. With a diverse array of plant-based milk options readily available in supermarkets, specialty stores, and online platforms, North American consumers have embraced plant-based alternatives as staples in their diets, contributing to the region's significant market share.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region is witnessing an increase in milk production. This increase can be attributed to several factors, including changing dietary preferences, rising health consciousness, and growing concerns about environmental sustainability. With a large and diverse population, countries across the Asia Pacific are witnessing a shift towards plant-based diets driven by cultural influences, health trends, and ethical considerations. Additionally, the region's expanding middle class and increasing disposable incomes are enabling more consumers to explore and adopt plant-based alternatives to dairy milk. As a result, both domestic and international manufacturers are capitalizing on this growing demand by introducing a wide range of plant-based milk products tailored to local tastes and preferences.

The current report Scope analyzes Plant Based Milk Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Plant Based Milk Market

According to Cognitive Market Research, the global Plant Milk market size was estimated at USD 3151.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1260.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031. In North America, the soy milk segment emerged as the dominant force in the plant-based milk market, holding the largest market share. This can be attributed to several factors, including soy milk's established presence in the market, widespread consumer acceptance, and its well-documented health benefits. Soy milk is rich in protein, essential amino acids, and other nutrients, making it a popular choice among health-conscious consumers seeking alternatives to dairy milk. Additionally, soy milk's versatility and ability to mimic the taste and texture of traditional dairy milk have contributed to its enduring popularity.

• According to Cognitive Market Research, the U.S. had a major share in the Plant-Based Milk market, with a market size of USD 994.52 million in 2024, and is projected to grow at a CAGR of 9.0% during the forecast period. This growth is driven by several factors, including increasing consumer awareness of health and environmental concerns associated with dairy milk consumption, changing dietary preferences, and the availability of a wide range of plant-based milk alternatives catering to different tastes and dietary needs. 
• The Canada Plant Based Milk market had a market share of USD 151.26 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. This projected growth reflects the increasing adoption of plant-based milk alternatives among Canadian consumers, driven by factors such as health consciousness, environmental sustainability concerns, and dietary preferences.
• The Mexico plant-based milk market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 114.70 million in 2024.

Europe Plant Based Milk Market

According to Cognitive Market Research, with a market value of USD 3151.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 945.36 million. The Soy Milk segment emerged as the dominant force in the Plant Based Milk market, holding the largest market share. This can be attributed to several factors, including soy milk's established presence in the market, widespread consumer acceptance, and its well-documented health benefits. Soy milk is rich in protein, essential amino acids, and other nutrients, making it a popular choice among health-conscious consumers seeking alternatives to dairy milk. Additionally, soy milk's versatility and ability to mimic the taste and texture of traditional dairy milk have contributed to its enduring popularity.

• The United Kingdom Plant Based Milk market had a market share of USD 158.82 million in 2024 and is projected to grow at a CAGR of 10.3% during the forecast period. This robust growth projection underscores the increasing popularity of plant-based milk alternatives among U.K. consumers, driven by factors such as health awareness, environmental sustainability concerns, and dietary preferences. 
• The French plant-based milk market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 86.97 million in 2024.
• According to Cognitive Market Research, the Germany Plant-Based Milk market was valued at USD 187.18 million in 2024 and is projected to grow at a CAGR of 9.7% during the forecast period. This growth projection reflects the rising adoption of plant-based milk alternatives among German consumers, driven by factors such as health consciousness, sustainability concerns, and changing dietary habits. 
• The Italy Plant-Based Milk market is projected to grow at a CAGR of 8.9% during the forecast period, reaching a market size of USD 81.30 million in 2024.
• The Russia plant-based milk market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 146.53 million in 2024.
• The Spain plant-based milk market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 77.52 million in 2024.
• The Luxembourg Plant-Based Milk market is projected to grow at a CAGR of 9.6% during the forecast period, reaching a market size of USD 29.31 million in 2024.
• The Portugal plant-based milk market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 19.85 million in 2024.
• The Greece plant-based milk market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 11.34 million in 2024.
• The rest of Europe's Plant-Based Milk market is projected to grow at a CAGR of 8.2% during the forecast period, reaching a market size of USD 146.53 million in 2024.

Asia Pacific Plant Based Milk Market

According to Cognitive Market Research, the global Plant Milk market size was estimated at USD 3151.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 724.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.0% from 2024 to 2031. The Asia Pacific region is experiencing growth in Milk, driven by its established presence, widespread consumption, and versatile applications in various food and beverage products. Despite the increasing popularity of plant-based milk alternatives, traditional dairy milk maintains a strong foothold in the market due to factors such as its nutritional value, familiarity, and cultural significance in many regions. Dairy milk is valued for its high protein content, calcium, and other essential nutrients, making it a staple in many diets. Additionally, the dairy industry's extensive distribution networks and marketing efforts contribute to maintaining its market dominance. While plant-based milk alternatives are gaining traction, dairy milk's enduring popularity ensures its continued prominence in the market for the foreseeable future.

• According to Cognitive Market Research, the China Plant Based Milk market size was valued at USD 326.15 million in 2024 and is projected to grow at a CAGR of 12.5% during the forecast period. This significant growth projection underscores the increasing adoption of plant-based milk alternatives among Chinese consumers, driven by factors such as health awareness, dietary preferences, and environmental sustainability concerns.
• The Japan plant-based milk market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 100.02 million in 2024.
• The India Plant Based Milk market had a market share of USD 86.97 million in 2024 and is projected to grow at a CAGR of 14.8% during the forecast period. This substantial growth projection reflects the increasing adoption of plant-based milk alternatives among Indian consumers, driven by factors such as health consciousness, lactose intolerance, and environmental sustainability concerns.
• The South Korea plant-based milk market is projected to witness growth at a CAGR of 12.1% during the forecast period, with a market size of USD 72.48 million in 2024.
• The Australia Plant Based Milk market is projected to witness growth at a CAGR of 12.7% during the forecast period with a market size of USD 37.69 million in 2024.
• The South East Asia Plant Based Milk market is projected to witness growth at a CAGR of 14.0% during the forecast period, with a market size of USD 50.01 million in 2024.
• The Rest of the Asia Pacific Plant-Based Milk market is projected to grow at a CAGR of 12.8% during the forecast period, reaching a market size of USD 51.46 million in 2024.

South America Plant Based Milk Market

According to Cognitive Market Research, the global Plant Milk market size was estimated at USD 3151.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 157.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031. Milk in Latin America is experiencing growth, driven by its established presence, widespread consumption, and versatile applications in various food and beverage products. Despite the increasing popularity of plant-based milk alternatives, traditional dairy milk maintains a strong foothold in the market due to factors such as its nutritional value, familiarity, and cultural significance in many regions. Dairy milk is valued for its high protein content, calcium, and other essential nutrients, making it a staple in many diets. Additionally, the dairy industry's extensive distribution networks and marketing efforts contribute to maintaining its market dominance. While plant-based milk alternatives are gaining traction, dairy milk's enduring popularity ensures its continued prominence in the market for the foreseeable future.

• According to Cognitive Market Research, the Brazil Plant-Based Milk market was valued at USD 67.44 million in 2024 and is projected to grow at a CAGR of 11.0% during the forecast period. The country's large population, changing dietary habits, and rising disposable incomes contribute to the growing demand for plant-based milk alternatives.
• The Argentina Plant Based Milk market had a market share of USD 26.47 million in 2024 and is projected to grow at a CAGR of 11.3% during the forecast period. Continued investments in product development, marketing strategies, and distribution networks are likely to further boost market growth, catering to the evolving preferences of Argentine consumers for healthier and more environmentally friendly food and beverage choices.
• The Colombia plant-based milk market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 14.02 million in 2024.
• The plant-based milk market is projected to witness growth at a CAGR of 10.6% during the forecast period, with a market size of USD 12.92 million in 2024.
• The Chile Plant Based Milk market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 11.34 million in 2024.
• The Rest of Latin America's Plant-Based Milk market is projected to grow at a CAGR of 9.5% during the forecast period, reaching a market size of USD 25.37 million in 2024.

Middle East Plant Based Milk Market

According to Cognitive Market Research, the global Plant Based Milk market size was estimated at USD 3151.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 63.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031. Liquid holds a prominent market share in the plant-based milk industry, driven by its versatility, convenience, and diverse applications across various industries. In the food and beverage sector, liquid products encompass a wide range of offerings, including beverages like juices, soft drinks, and dairy alternatives such as plant-based milk. These products cater to different consumer preferences, dietary requirements, and occasions, making them popular choices in the market. Moreover, the growing emphasis on health and wellness has spurred the demand for functional and nutritious liquid beverages, further driving market growth.

• According to Cognitive Market Research, the GCC Countries Plant Milk market size was valued at USD 26.97 million in 2024 and is projected to grow at a CAGR of 11.5% during the forecast period. Factors such as the growing expatriate population, rising disposable incomes, and changing consumer lifestyles contribute to the increasing popularity of plant-based milk alternatives in the region.
• The Egypt plant-based milk market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 6.62 million in 2024.
• The South Africa Plant Based Milk market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 9.96 million in 2024. This growth projection reflects the increasing adoption of plant-based milk alternatives among South African consumers, driven by factors such as health consciousness, dietary preferences, and lactose intolerance concerns.
• The Turkey Plant-Based Milk market is projected to grow at a CAGR of 10.2% during the forecast period, reaching a market size of USD 5.42 million in 2024.
• The Nigeria Plant-Based Milk market is projected to witness growth at a CAGR of 9.8% during the forecast period, reaching a market size of USD 6.62 million in 2024.
• The Rest of the MEA Plant-Based Milk market is projected to grow at a CAGR of 9.7% during the forecast period, reaching a market size of USD 7.44 million in 2024.

Plant Based Milk Market Analysis

Plant Based Milk Product Type Segment Analysis

According to Cognitive Market Research, Soy Milk held the major market share over the forecast period. This can be attributed to several factors, including soy milk's established presence in the market, widespread consumer acceptance, and its well-documented health benefits. Soy milk is rich in protein, essential amino acids, and other nutrients, making it a popular choice among health-conscious consumers seeking alternatives to dairy milk. Additionally, soy milk's versatility and ability to mimic the taste and texture of traditional dairy milk have contributed to its enduring popularity.

Almond Milk is the fastest-growing category over the forecast period. This accelerated growth can be attributed to several factors, including increasing consumer awareness of almond milk's health benefits, such as being low in calories and rich in vitamin E. Almond milk's popularity has also been fueled by its smooth texture and nutty flavor profile, appealing to consumers seeking dairy alternatives with a pleasant taste experience. Furthermore, the rise in lactose intolerance and dairy allergies has propelled the demand for almond milk, as it is naturally free from lactose and dairy proteins.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Plant Based Milk Industry. Request a Free Sample PDF!

Plant Based Milk End-Use Segment Analysis

According to Cognitive Market Research, Milk holds a prominent market share, driven by its established presence, widespread consumption, and versatile applications in various food and beverage products. Despite the increasing popularity of plant-based milk alternatives, traditional dairy milk maintains a strong foothold in the market due to factors such as its nutritional value, familiarity, and cultural significance in many regions. Dairy milk is valued for its high protein content, calcium, and other essential nutrients, making it a staple in many diets. Additionally, the dairy industry's extensive distribution networks and marketing efforts contribute to maintaining its market dominance.

Cheese is the fastest-growing category over the forecast period, driven by shifting consumer preferences towards plant-based alternatives and increasing demand for dairy-free options. This growth is fueled by factors such as rising health consciousness, lactose intolerance, and environmental sustainability concerns. Plant-based cheese alternatives are gaining popularity for their ability to closely mimic the taste, texture, and melting properties of traditional dairy cheese while offering additional health benefits such as being cholesterol-free and lower in saturated fat.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Plant Based Milk Form Segment Analysis

According to Cognitive Market Research, Liquid holds a prominent market share, driven by its versatility, convenience, and diverse applications across various industries. In the food and beverage sector, liquid products encompass a wide range of offerings, including beverages like juices, soft drinks, and dairy alternatives such as plant-based milk. These products cater to different consumer preferences, dietary requirements, and occasions, making them popular choices in the market. Moreover, the growing emphasis on health and wellness has spurred the demand for functional and nutritious liquid beverages, further driving market growth.

Powder is the fastest-growing category over the forecast period, driven by its convenience, versatility, and increasing demand across various industries. In the food and beverage sector, powdered products offer several advantages, including longer shelf life, ease of storage and transportation, and reduced packaging waste. Additionally, powdered products often provide convenient solutions for on-the-go consumption and portion control. The growing popularity of powdered beverages, such as protein shakes, meal replacement powders, and powdered coffee mixes, reflects evolving consumer preferences for convenient and functional products.

• Liquid 
• Powder 

Plant Based Milk Category Segment Analysis

According to Cognitive Market Research, Organic holds a prominent market share, driven by increasing consumer awareness of health and environmental sustainability. The demand for organic food and beverages has surged as consumers prioritize products free from synthetic pesticides, herbicides, and genetically modified organisms (GMOs). Organic agriculture practices promote soil health, biodiversity, and animal welfare, resonating with consumers seeking ethically produced and environmentally friendly options. Moreover, organic certification assures consumers of product quality and adherence to stringent organic standards.

Conventional is the fastest-growing category over the forecast period, driven by their widespread availability, affordability, and familiarity among consumers. While organic and specialty products continue to gain traction, conventional offerings maintain a strong presence in the market due to their competitive pricing and accessibility. Additionally, the convenience and consistency associated with conventional products appeal to a broad spectrum of consumers, driving their rapid growth.

• Organic 
• Conventional 

Plant Based Milk Flavor Segment Analysis

According to Cognitive Market Research, Original/Unflavored holds a prominent market share, driven by its versatility and appeal to a wide range of consumers. These products serve as the foundation for various culinary applications and dietary preferences, providing a neutral base that can be customized according to individual tastes. Original or unflavored offerings also cater to consumers seeking simplicity and authenticity in their food choices, as they often contain minimal ingredients and are perceived as more natural. Moreover, original or unflavored products are favored by those with specific dietary restrictions or preferences, such as individuals following a plain or unprocessed diet.

Flavored is the fastest-growing category over the forecast period, fueled by evolving consumer preferences for exciting taste experiences and innovative flavor combinations. The demand for flavored products spans across various industries, including food, beverages, and personal care, as consumers seek novel and indulgent options. Flavored offerings provide a unique sensory experience, enticing consumers with a wide range of flavors, from traditional favorites to exotic and adventurous blends

• Original/Unflavored 
• Flavored 
• Chocolate 
• Vanilla 
• Strawberry 
• Coconut 
• Mocha 
• Berry 
• Hazelnut 
• Other Flavors 

Plant Based Milk Sales Segment Analysis

According to Cognitive Market Research, Direct Sales holds a prominent market share, driven by their effectiveness in reaching consumers directly and offering personalized experiences. This sales channel allows companies to establish direct relationships with customers, enabling tailored product recommendations, promotions, and customer service interactions. Direct sales encompass various approaches, including e-commerce platforms, company-owned retail stores, and direct selling models such as door-to-door sales or multi-level marketing.

Indirect Sales is the fastest-growing category over the forecast period, driven by the expansion of distribution networks, strategic partnerships, and technological advancements. This sales channel encompasses a wide range of intermediaries, including wholesalers, distributors, retailers, and online marketplaces, that facilitate the distribution and sale of products to end consumers. Indirect sales offer companies broader market reach, access to diverse customer segments, and increased scalability. Additionally, the rise of e-commerce platforms and digital marketplaces has further fueled the growth of indirect sales by providing convenient and efficient channels for product distribution.

• Direct Sales 
• Indirect Sales 
• Modern Trade 
• Convenience Store 
• Departmental Store 
• Traditional Store 
• Specialty Store 
• Online Retailers 
• Other Sales Channel 

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

LinkedIn

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I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

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