Plant-based Milk Powder Market

Plant-based Milk Powder Market Study by Almond, Soy, and Coconut Milk Powder for Bakery & Confectionery, Nutritional Food, and Infant Formula from 2024 to 2034

Analysis of Plant-based Milk Powder Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Plant-based Milk Powder Market Outlook (2024 to 2034)

Expanding at a CAGR of 7.7%, the global plant-based milk powder market is projected to increase from a valuation of US$ 425.3 million in 2024 to US$ 896.5 million by the end of 2034. However, several other alternatives such as almond, soy, coconut, oat, and rice milk are also attracting consumers’ interest.

Advancements in plant-based milk powder formulations, such as improved taste, texture, and nutritional profiles, are key factors driving market growth. Manufacturers are investing in research and development to enhance the quality and variety of the plant-based milk powders that they produce.

The increasing availability of enriched milk powders in retail outlets, supermarkets, and online platforms is playing a crucial role is driving the sales of plant-based milk powder. E-commerce platforms have improved the accessibility of many milk powder products, enabling consumers from all regions, even remote areas, to purchase products from high-end brands.

Key Market Growth Drivers

  • Consumers are becoming conscious of their health and wellness, which is driving sales of plant-based products. Plant-based milk powders are perceived as healthier options due to their lower cholesterol and saturated fat content compared to dairy milk.
  • With the increasing prevalence of lactose intolerance and dairy allergies, demand for alternatives like almond, soy, and coconut milk powders is rising. This provides viable options for those unable to consume dairy products.
  • The increasing vegan and vegetarian population worldwide drives plant-based food products, including flavored milk alternatives. Plant-based milk powders align with the dietary preferences of individuals following vegan or vegetarian lifestyles.
  • Rising concerns about animal welfare and the environmental impact of traditional dairy farming practices prompt consumers to seek sustainable alternatives.
  • Plant-based milk powders require fewer resources and have a lower carbon footprint compared to dairy milk production, addressing these concerns.
  • Expansion of distribution channels and partnerships with retailers are facilitating market penetration and driving consumption of plant-based milk powder.
Report Attributes Details
Plant-based Milk Powder Market Size (2024E) US$ 425.3 Million
Forecasted Market Value (2034F) US$ 896.5 Million
Global Market Growth Rate (2024 to 2034) 7.7% CAGR
North America Market Value (2024E) US$ 95.9 Million
East Asia Market Value (2024E) US$ 105 Million
Sales of Almond Milk Powder (2024E) US$ 152 Million
Key Companies Profiled
  • Urban Platter
  • Bio Nutrients (India) Pvt. Ltd.
  • Chocolate Alchemy
  • Jaffe Bros. Inc
  • The Hershey Company
  • The Bridge S.r.l. Kaslink Foods Oy Ltd.
  • Edward & Sons
  • Blue Diamond Growers, Inc.
  • Chef’s Choice Food Manufacturer Company Limited
  • Liwayway Holdings Company Limited

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What are the Key Factors Increasing Sales of Plant-based Milk Powder?

“Lactose-Free Composition and Low Saturated Fat Levels Associated with Plant-based Milk”

Diversifying product offerings and innovating with formulations, flavors, and packaging broadens the appeal and increases sales of plant-based milk powder. Emphasizing health benefits, like being lactose-free and low in cholesterol and saturated fats, as well as being rich in essential nutrients is setting plant-based milk powder trends to attract health-conscious consumers. Effective marketing campaigns that highlight taste, versatility, and brand values can boost awareness and trust, leading to increased sales.

“Rising Consciousness Regarding Environmental Sustainability and Animal Welfare”

Increased awareness of environmental sustainability and animal welfare concerns linked to dairy farming has driven consumers towards plant-based alternatives. Plant-based milk powders entail a reduced environmental impact compared to dairy production, rendering them a more sustainable option.

Extensive retail distribution and strategic partnerships ensure widespread product availability while educating consumers about environmental and health advantages builds loyalty. Competitive pricing, promotions, and packaging options appeal to budget-conscious shoppers. Meeting taste and texture expectations through product development and consumer feedback leads to repeat purchases and consumer satisfaction.

What are the Hindrances to Sales Growth of Plant-based Milk Powder?

“Price Sensitivity Challenges and Limited Visibility in Retail Spaces”

Challenges to the sales of plant-based milk powder include consumer dissatisfaction with taste and texture, potential price sensitivity due to higher costs compared to dairy milk, limited visibility in retail spaces, intense competition within the plant-based milk market, difficulties in securing reliable ingredient sources and managing the supply chain, navigating complex regulatory requirements and labeling standards, and the need for increased consumer education and awareness regarding the nutritional and environmental benefits of plant-based options.

Overcoming these hurdles requires improvements in product development, pricing strategies, retail partnerships, differentiation tactics, supply chain management, regulatory compliance, and educational initiatives targeting consumers.

“Misconceptions or Lack of Knowledge about Benefits of Plant-Based Milk Powder”

Enhancing formulations is essential to address taste and texture concerns among consumers regarding plant-based milk powders, which hinder repeat purchases and overall market acceptance. Although there is a growing interest in plant-based diets, misunderstandings or limited awareness regarding the nutritional benefits and environmental advantages of plant-based milk powders may persist. Utilizing targeted marketing efforts and informative labeling can effectively mitigate these challenges and drive the consumption of plant-based milk powder.

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Country-wise Insights

Why is the United States a Lucrative Market for Plant-based Milk Powder Producers?

“Reduced Normal Milk Consumption Due to Evolving Consumer Tastes”

Attribute United States
Market Value (2024E) US$ 69.2 Million
Growth Rate (2024 to 2034) 7.3% CAGR
Projected Value (2034F) US$ 140.1 Million

Plant-based milk powders are now more readily accessible in various retail outlets across the United States, including mainstream grocery stores, specialty health food stores, and online retailers. This increased availability facilitates consumers' integration of plant-based alternatives into their dietary choices.

The dairy sector in the United States is encountering difficulties like reduced milk consumption and evolving consumer tastes. Consequently, demand for plant-based substitutes, including milk powders, is increasing, as they provide a feasible choice for individuals looking for dairy-free options.

Why is the Plant-based Milk Powder Market Size in China Expanding Substantially?

“High Demand for Infant Formula and Milk Powder Products”

Attribute China
Market Value (2024E) US$ 75.5 Million
Growth Rate (2024 to 2034) 8% CAGR
Projected Value (2034F) US$ 163.6 Million

China holds a significant plant-based milk powder market share due to urbanization which has transformed lifestyles and dietary preferences, prompting more urban dwellers in the country to choose convenient and nutritious alternatives such as milk powder. Increased awareness of health and nutrition, especially among young parents, has stimulated demand for premium-quality milk powder enriched with essential vitamins, minerals, and nutritional additives. Chinese consumers demonstrate a preference for international milk powder brands, perceiving them as safer and of superior quality, particularly in light of past safety incidents in the domestic milk powder industry.

Government efforts to enhance food safety regulations and oversee the milk powder industry have played a crucial role in rebuilding consumer confidence and trust in the market. Both domestic and international milk powder companies have leveraged strong brand reputations and effective marketing campaigns to target specific consumer demographics, contributing to sustained plant-based milk powder market growth. Despite the relaxation of the one-child policy, China's birth rates are steadily rising, resulting in heightened demand for infant formula and milk powder products.

Category-wise Insights

Why is Use of Plant-based Milk Powder Increasing in Bakery & Confectionery Items?

“Plant-based Milk Powder Improving Moisture Retention in Baked Goods”

Attribute Bakery & Confectionery
Market Value (2024E) US$ 214 Million
Market Share (2024E) 50.23%
Projected Value (2034F) US$ 481 Million

Plant-based milk powders improve the texture and moisture retention of baked goods and confectionery items, thereby enhancing the overall quality and mouthfeel of products, which increases their attractiveness to consumers. Plant-based milk powders are devoid of common allergens like dairy, lactose, and gluten, rendering them appropriate for individuals with dietary limitations or allergies. They also cater to various dietary inclinations such as vegetarian, flexitarian, and plant-based diets, broadening their appeal to consumers.

Why Does Almond Powder Account for a Significant Share of the Market?

“Rising Population of Individuals with Lactose Intolerance and Dairy Allergies”

Attribute Almond Milk Powder
Market Value (2024E) US$ 152 Million
Market Share (2024E) 35.69%
Projected Value (2034F) US$ 347 Million

Almond milk powder, a plant-derived milk alternative produced by blending blanched almonds with water to achieve a creamy liquid, subsequently dehydrated into powder form, is experiencing heightened interest from consumers around the world. The rise in demand stems from various factors such as the escalating population of individuals with lactose intolerance, dairy allergies, and diverse dietary constraints, along with the expanding adoption of plant-centric diets and lifestyles.

Almond milk powder, characterized by its nutty taste, low-calorie content, and abundant nutritional benefits including ample vitamin E, is increasingly sought after. The gentle, subtly sweet taste of almond milk powder enhances a diverse array of recipes and beverages. Its neutral flavor profile renders it adaptable for inclusion in both sweet and savory dishes, appealing to a broad spectrum of consumers.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Competitive Landscape

Key players in the plant-based milk powder industry are Urban Platter, Bio Nutrients (India) Pvt. Ltd, Chocolate Alchemy, Jaffe Bros. Inc, The Hershey Company, The Bridge s.r.l. Kaslink Foods Oy Ltd., Edward & Sons, Blue Diamond Growers, Inc., Chef’s Choice Food Manufacturer Company Limited, and Liwayway Holdings Company Limited. The brands need to offer unique value propositions and employ effective marketing tactics to excel in this competitive environment.

  • In October 2023, Nestlé introduced a new instant milk powder in Central and West Africa that combines dairy and plant-based components, branding the product as both cost-effective and nutritious.
  • In 2022, Danone unveiled its Dairy & Plants Blend infant formula, addressing the demand from parents seeking feeding options compatible with vegetarian, flexitarian, and plant-based diets while fulfilling their baby's nutritional needs.

Key Segments of Plant-based Milk Powder Market Research

  • By Type :

    • Almond Milk Powder
    • Soy Milk Powder
    • Coconut Milk Powder
  • By Application :

    • Bakery & Confectionery
    • Nutritional Food
    • Infant Formula
  • By Distribution Channel :

    • Online Sales
    • Supermarkets/Hypermarkets
    • Specialized Stores
    • Convenience Stores
    • Retail Stores
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa (MEA)

- FAQs -

How big is the plant-based milk powder market?

The global plant-based milk powder market is valued at US$ 425.3 million in 2024.

What are the estimated sales for plant-based milk powder in China?

Sales of plant-based milk powder in China are set to reach US$ 75.5 million in 2024.

What portion of the East Asia market does Japan account for?

Japan occupies a market share of 21.5% in 2024 in East Asia.

What is the demand projection for plant-based milk powder in the United States?

The market in the United States is forecasted to reach US$ 140.1 million by the end of 2034.

Which type of plant-based milk powder accounts for higher sales?

Almond milk powder is projected to account for 38.7% of overall product sales by 2034.

- Also of Interest -

Flavored Milk Market

Flavored Milk Market By Flavor (Chocolate, Coffee, Rose, Vanilla, Strawberry), By Packaging (Cartons, Glass Bottles, PET Bottles, Tins & Cans), By Sales Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialist Stores, Online) & By Region - Global Insights 2023 to 2033

Plant-based Cheese Market

Plant-based Cheese Market Analysis By Source (Soy, Coconuts, Cashews, Almonds), By Form (Blocks & Wedges, Slices, Spreads, Shreds), By Buyer Type (Households, HoReCa, Food Processors), By Sales Channel (Retail Sales, Direct Sales) - Global Market Insights 2023 to 2033

Enriched Milk Powder Market

Enriched Milk Powder Market Analysis By Flavor (Regular, Chocolate, Vanilla & Caramel Enriched Milk Powder) By Application (Yogurt, Bakery, Ice Cream, Confectionery, Nutrition, Infant Formula, Processed Cheese & Others) By Distribution Channel & Region – Global Insights 2022 to 2032

Plant-based Milk Powder Market

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