The global Milk Substitutes market was valued at US$ 12940 million in 2022 and is projected to reach US$ 22800 million by 2029, at a CAGR of 8.4% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Milk Substitute Materials are extracts from sources such as soy, almonds, coconuts, oats, rice is a best alternative for dairy milk and other animal milk present in the market. Due to its high nutritional values and rich in vitamins, minerals, carbohydrates and proteins plant milk is widely accepted among consumers. It has various applications in food and beverage, dairy industry.
This report aims to provide a comprehensive presentation of the global market for Milk Substitutes, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Milk Substitutes. This report contains market size and forecasts of Milk Substitutes in global, including the following market information:
- Global Milk Substitutes Market Revenue, 2018-2023, 2024-2032, ($ millions)
- Global Milk Substitutes Market Sales, 2018-2023, 2024-2032, (MT)
- Global top five Milk Substitutes companies in 2022 (%)
Danone and Blue Diamond Growers are the top 2 manufacturers of milk substitute materials globally and account for over 20% of global market share in total. Geographically speaking, Asia-Pacific holds over 40% of global market share. In terms of raw material, soy and almond hold over half of total market share. In terms of end use, direct drink segment accounts for over 60% of total market share.
We has surveyed the Milk Substitutes manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Milk Substitutes Market, by Type, 2018-2023, 2024-2032 ($ Millions) & (MT)
Global Milk Substitutes Market Segment Percentages, by Type, 2022 (%)
- Coffee Creamers
- Coconut Milk
- Other
Global Milk Substitutes Market, by Application, 2018-2023, 2024-2032 ($ Millions) & (MT)
Global Milk Substitutes Market Segment Percentages, by Application, 2022 (%)
Global Milk Substitutes Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions) & (MT)
Global Milk Substitutes Market Segment Percentages, By Region and Country, 2022 (%)
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- The Middle East and Africa (Middle East, Africa)
- South and Central America (Brazil, Argentina, Rest of SCA)
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies Milk Substitutes revenues in global market, 2018-2023 (Estimated), ($ millions)
- Key companies Milk Substitutes revenues share in global market, 2022 (%)
- Key companies Milk Substitutes sales in global market, 2018-2023 (Estimated), (MT)
- Key companies Milk Substitutes sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
- FrieslandCampina
- DEK(Grandos)
- DMK(TURM-Sahne GmbH)
- Cocomi
- Caribbean
- Maggi
- Fiesta
- Renuka
- Cocos
- Qbb
- Thai-Choice
- Ayam
- Caprimo
- Super Group
- Yearrakarn
- Custom Food Group
- PT. Santos Premium Krimer
- PT Aloe Vera
- Suzhou Jiahe Foods Industry
- Wenhui Food
- Bigtree Group
- Zhucheng Dongxiao Biotechnology
- Jiangxi Weirbao Food Biotechnology
- Hubei Hong Yuan Food
- Fujian Jumbo Grand Food
- Shandong Tianmei Bio
- Amrut International
Outline of Major Chapters:
Chapter 1: Introduces the definition of Milk Substitutes, market overview.
Chapter 2: Global Milk Substitutes market size in revenue and volume.
Chapter 3: Detailed analysis of Milk Substitutes manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Milk Substitutes in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Milk Substitutes capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
