Rockville, March 26, 2024 (GLOBE NEWSWIRE) -- The global Plant-based Milk Powder Market is projected to reach US$ 425.3 million in 2024 and further increase at a CAGR of 7.7% through 2034, as per a new study by Fact.MR.
Growing presence of plant-based milk powders across retail stores, supermarkets, and online platforms is essential for expanding consumer reach and boosting market expansion. The proliferation of e-commerce platforms has further democratized access to a wide array of milk powder products, allowing consumers from diverse regions, including remote areas, to acquire premium brands.
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Highlighting the health advantages such as lactose-free content and low levels of cholesterol and saturated fats, along with its nutritional richness, can appeal to health-conscious consumers. Implementing successful marketing initiatives that emphasize taste, versatility, and brand integrity can enhance recognition and credibility, ultimately driving higher sales.
Key Segments of Plant-based Milk Powder Market Research Report
| By Type | By Application | By Distribution Channel | By Region |
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Key Takeaways from Market Study:
- Sales of plant-based milk powder are expected to reach US$ 425.3 million in 2024.
- The market is forecasted to touch US$ 896.5 million by the end of 2034.
- Sales of plant-based milk powder in the United States are estimated to reach US$ 69.2 million in 2024.
- The United States holds 72.1% market share in North America in 2024.
- Sales of plant-based milk powder in China are forecasted to touch US$ 163.6 million by the end of 2034.
- The East Asia market is forecasted to expand at a CAGR of 8% over the next 10 years.
“Almond and soy milk powder account for 50% of the plant-based milk powder market. This is driven by the nutty taste, low-calorie content, and abundance of vitamin E in almonds and protein in soy,” says a Fact.MR analyst.
Rising Preference for Almond Milk Powder Driven by Low Calorie Content
Almond milk powder offers a subtly sweet taste that enhances a variety of recipes and beverages, making it adaptable for both sweet and savory dishes, and appealing to diverse consumers. Free from lactose and dairy, almond milk powder serves as a convenient alternative for individuals with lactose intolerance or dairy allergies. With fewer calories compared to dairy milk, almond milk powder is favored by those aiming to regulate their calorie intake or sustain a healthy weight.
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| Report Attribute | Details |
| Value Projection (2034) | US$ 896.5 Million |
| Growth Rate (2024-2034) | 7.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the plant-based milk powder market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the plant-based milk powder market study based on type (almond milk powder, soy milk powder, coconut milk powder), application (bakery & confectionery, nutritional food, infant formula), and distribution channel (online sales, supermarkets/hypermarkets, specialized stores, convenience stores, retail stores), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Enriched Milk Powder Market: Worldwide consumption of enriched milk powder is anticipated to rise at a CAGR of 5.9% through 2032. At present, the global enriched milk powder market accounts for a revenue of US$ 8.63 billion and is expected to surge to a valuation of US$ 15.38 billion by the end of the forecast period (2022-2032).
Pea Milk Market: The global pea milk market is estimated at US$ 51.55 billion in 2023 and is projected to expand at a robust CAGR of 13.1% to reach US$ 176.54 billion by 2033.
Plant-based Emulsifiers Market: The global plant-based emulsifiers market was valued at US$ 1.21 billion in 2022, with worldwide demand for plant-based emulsifiers accelerating at a CAGR of 7.6% from 2018 to 2022. The global market is forecasted to expand at 7.2% CAGR and reach US$ 2.60 billion by 2033-end.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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