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Plant milk is extracted from sources such as soy, almonds, coconuts, oats, rice is a best alternative for dairy milk and other animal milk present in the market. Owing to its high nutritional values and rich in vitamins, minerals, carbohydrates and proteins plant milk is extensively accepted among consumers. It has several applications in food and beverage, dairy industry and cosmetic industry. Due to, growing awareness towards plant milk and its nutritional values, the market is likely to propel during forecast period.
Plant base milk is popular among consumers, due to, growing health and wellness concern, awareness about overweight and diabetic diseases, which will further encourage the acceptance of non-dairy substitutes over dairy products. Furthermore, most of the population are shifting to vegan diet pattern, as it controls heart diseases, promote weight loss, lowering the chances of cancer and manage diabetes by lowering A1C levels which is likely to boost the Asia Pacific plant based milk market demand.
The report analyses Asia Pacific plant-based milk market based on source, distribution channel, formulation, packaging, end user and geography.
The various sources through which plant-based milk is produced are soy, almond, rice, coconut and others. Among these sources, almond is being predicted to have higher volume share. The main reason is that it contains high fiber, calcium, vitamin, and other nutritional properties, which makes almond milk a premium health beneficial plant-based milk.
Plant based milk can be presented in two forms, namely sweetened and unsweetened. Global plant milk market from unsweetened formulation is likely to held lion’s share of the market. Unsweetened plant milk has a super clean taste and smooth texture that blends seamlessly with various food and beverages. Consumers prefer dairy-free, gluten free, and naturally sugar free also it has 50% more calcium than regular dairy milk which will propel the market share of unsweetened-based plant milk market.
Households, food industry and HoReCa (Hotel, Restaurant, Café) are the major end users of Plant Based Milk industry covered in the report. The Plant Based Milk products are principally consumed by the household and HoReCa sectors owing to its easy accessibility and at a minimal cost. Under the food & beverage industry segment of end use, the dairy & desserts sub-segment is witnessing a high market value share, owing to the high applicability of milk in dairy products.
Carton packaging, bottles and poches are the various types of packaging through which plant-based milk is sold.
Retail stores, specialty store and online retail are the distribution channel through which Plant Based Milk products are made available. High consumer reliability along with growth in retail industry has enhanced the industry demand. Improved convenience for shopping accompanied by promotional strategies are the key factors driving product demand. Rising number of mainstream stores around the Asia Pacific along with growing disposable income will propel business demand.
Geographically, the Asia Pacific plant-based milk market is studied across the countries of India, China, Japan, and Rest of APAC. India and China leading the Asia Pacific plant-based milk market, owing to rapid urbanization, growing disposal income and diabetic population among consumers is likely to boost product demand. Also increase in cardiac diseases, diabetes, obesity and vitamins deficiency, are the important factors to lead the market demand among consumers.
The major players involved in this market are Archer-Daniels-Midland, Danone, Daiya Foods, Hain Celestial Group, WhiteWave Foods, Blue Diamond Growers, SunOpta, Freedom Foods, Eden Foods, Earths Own Food Company, The New Barn, Califia Farms and Malk Organics among others.
The report analyses Asia Pacific plant-based milk market based on source, distribution channel, formulation, packaging, end user and geography. The various sources through which plant-based milk is produced are soy, almond, rice, coconut and others. Among these sources, soy is being predicted to have higher volume share owing to its growing popularity among its consumers. Plant based milk can be presented in two forms, namely sweetened and unsweetened. Growing health awareness among consumers along with availability of healthy product replacements in plain form will push product demand. Households, food industry and HoReCa (Hotel, Restaurant, Café) are the major end users of Plant Based Milk industry covered in the report. Retail stores, specialty store and online retail are the distribution channel through which Plant Based Milk products are sold. High consumer reliability along with growth in retail industry has enhanced the industry demand. Geographically, the Asia Pacific plant-based milk market is studied across the countries of India, China, Japan, and Rest of APAC.
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