New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Milk Substitutes (Non dairy milk) Global Market Report 2023" - https://www.reportlinker.com/p06284592/?utm_source=GNW
Major players in the milk substitutes (non dairy milk) market are Hain Celestial Group, WhiteWave Foods, ADM, Nutriops S.L and Blue Diamond Growers.
The global milk substitutes (non dairy milk) market will grow from $30.03 billion in 2022 to $34.27 billion in 2023 at a compound annual growth rate (CAGR) of 14.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The milk substitutes (non dairy milk) market is expected to grow to $58.6 billion in 2027 at a CAGR of 14.4%.
The milk substitutes (non-dairy milk) market consists of sales of soy milk, nut milk, oat milk, rice milk.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The milk substitutes (non dairy milk) market covered in this report is segmented by type into soy milk, almond milk, rice milk, and others. It is also segmented by application into food and beverages; by distribution channel into supermarkets, hypermarkets, convenience stores, specialty stores, online retail stores, and others; and by formulation into plain-sweetened, plain-unsweetened, flavored-sweetened, and others.
North America was the largest region in the milk substitutes (non dairy milk) market in 2022.Western Europe was the second largest region in the milk substitutes (non dairy milk) market.
The regions covered in the milk substitutes (non dairy milk) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing consumer’s preference for vegan food is driving the milk substitute market.Consumers are increasingly becoming aware of animal abuse at dairy farms and are avoiding animal-based products.
Vegan milk is cholesterol-free, rich in vitamin D and proteins and provides more calcium than animal milk.According to a report by Mintel, sales of non-dairy milk in the USA grew 61% over the last five years.
The rising shift towards veganism and health consciousness is driving the milk substitute market.
The presence of highly toxic arsenic compounds in rice milk is acting as a restraint on the milk substitute market.Rice milk is made from rice that carries huge levels of arsenic, a highly toxic chemical that is dangerous for human health and may cause cancer.
According to a journal on food additives and contaminants, the arsenic proportion in rice milk has a mean value of 63%, which is dangerous for human health.
Non-dairy milk producing companies are increasingly focusing on improving the shelf life of their products.Companies are trying to decrease the rate of bacterial formation in non-dairy milk through bacterial clarification using separators intended to remove bacterial spores.
Ultra-pasteurization involves heating milk to a temperature of more than 280°F for at least 2 seconds that will kill harmful bacteria and increases shelf life to up to 120 days.For instance, soymilk produced by SunOpta is processed using ultra-pasteurization and has an extended shelf life of 12 months.
Also, ultra-pasteurized almond milk by Pacific Foods has a shelf life of about a year.
Non-dairy milk producers are governed by various regulations related to product quality, labelling, and others.For instance, in the EU, Regulation (EU) No 1169/2011 was introduced to provide nutritional information about food products to consumers.
According to the regulation, non-dairy milk producing companies have to adhere to different protocols pertaining to nutritional labelling, presentation, advertising of foodstuffs and the printed information must be of a minimum font size. The allergens (e.g. soy, nuts, gluten, and lactose) for prepacked foods should be clearly mentioned. For non-dairy products like milk substitutes, an indication of substitute ingredient should be clearly mentioned.
The countries covered in the milk substitutes (non dairy milk) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($)
unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The milk substitutes (non dairy milk) research report is one of a series of new reports that provides milk substitutes (non dairy milk) statistics, including milk substitutes (non dairy milk) industry global market size, regional shares, competitors with milk substitutes (non dairy milk) share, detailed milk substitutes (non dairy milk) segments, market trends and opportunities, and any further data you may need to thrive in the milk substitutes (non dairy milk) industry. This milk substitutes (non-dairy milk) research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Read the full report: https://www.reportlinker.com/p06284592/?utm_source=GNW
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