From the steaming lattes of New York to the bustling cafes of Beijing, a quiet yet staggering revolution is unfolding on our grocery shelves, as evidenced by a projected leap from a $29.53 billion global plant-based milk market in 2023 to an estimated $67.1 billion by 2030.
Key Takeaways
- The global plant-based milk market size was valued at USD 29.53 billion in 2023 and is expected to grow at a CAGR of 11.7% from 2024 to 2030, reaching approximately USD 67.1 billion by 2030.
- In the US, plant-based milk sales reached $2.8 billion in 2022, marking a 7% year-over-year increase despite a slowdown from previous double-digit growth.
- The European plant-based milk market generated €3.2 billion in revenue in 2023, with almond milk accounting for 35% of the total market share.
- In 2023, 42% of US households purchased plant-based milk at least once, up from 38% in 2022, per IRI data.
- Millennials (aged 25-40) represent 45% of plant-based milk consumers in Europe, preferring oat milk for its sustainability.
- 67% of US vegans and 32% of flexitarians bought plant-based milk weekly in 2023 surveys.
- Global plant-based milk production reached 12 billion liters in 2023, with 40% from oat-based facilities in Europe.
- Oatly's production capacity expanded to 1 billion liters annually by 2024 across 10 global plants.
- Almond milk production in California accounts for 85% of US supply, harvesting 2.5 billion pounds of almonds yearly.
- Oat milk contains 2.5g protein per 100ml on average, compared to 3.3g in cow's milk per USDA data.
- Almond milk provides 120mg calcium per cup when fortified, matching 30% DV vs. 300mg in dairy.
- Soy milk offers 7g protein per 240ml serving, highest among plant milks and close to cow's 8g.
- Almond milk production emits 0.7 kg CO2e per liter, 75% less than cow's milk 3.2 kg CO2e.
- Oat milk has a water footprint of 48 liters per liter produced vs. dairy's 628 liters.
- Soy milk land use is 0.7 m² per liter, lower than almond's 10 m² but higher than oat's 0.5 m².
The global plant-based milk industry is booming with strong growth across all major markets.
Consumer Demographics and Trends
- In 2023, 42% of US households purchased plant-based milk at least once, up from 38% in 2022, per IRI data.
- Millennials (aged 25-40) represent 45% of plant-based milk consumers in Europe, preferring oat milk for its sustainability.
- 67% of US vegans and 32% of flexitarians bought plant-based milk weekly in 2023 surveys.
- In the UK, 55% of plant-based milk buyers are lactose intolerant, driving 28% market penetration.
- Gen Z (18-24) accounts for 28% of plant-based milk trialists in Australia, motivated by health and ethics.
- 73% of Chinese urban consumers aged 18-35 prefer plant-based milk over dairy for taste innovation.
- Women comprise 62% of regular plant-based milk purchasers in Canada, citing digestive benefits.
- In Brazil, 40% of plant-based milk consumers are upper-middle class, with 25% growth in family purchases.
- 51% of Indian plant-based milk users are under 30, influenced by social media influencers.
- US Hispanic consumers increased plant-based milk purchases by 18% in 2023, reaching 22% household penetration.
- 38% of French plant-based milk buyers are parents seeking alternatives for children.
- In Germany, 29% of plant-based milk consumers switched from dairy due to animal welfare concerns in 2023.
- Australian seniors (55+) now represent 15% of oat milk buyers, up 10% YoY for joint health.
- 64% of UK plant-based milk purchasers cite environmental impact as primary reason in 2024 polls.
- In the US, 45% of plant-based milk loyalists are urban dwellers with household incomes over $75k.
- Japanese consumers aged 20-39 show 35% preference for soy milk in plant-based category.
- 52% of Mexican plant-based milk buyers are millennials motivated by fitness trends.
- South African plant-based milk adoption among black middle-class rose 20% to 18% penetration in 2023.
- 70% of Swedish plant-based milk consumers are female, with 40% vegan or vegetarian.
Consumer Demographics and Trends Interpretation
Plant-based milk has evolved from a fringe alternative into a global supermarket staple, driven not just by vegan purity but by a broad coalition of the lactose-intolerant, the ethically concerned, the health-conscious, and the taste-curious, who are collectively turning a niche into a new normal.
Environmental and Sustainability Impact
- Almond milk production emits 0.7 kg CO2e per liter, 75% less than cow's milk 3.2 kg CO2e.
- Oat milk has a water footprint of 48 liters per liter produced vs. dairy's 628 liters.
- Soy milk land use is 0.7 m² per liter, lower than almond's 10 m² but higher than oat's 0.5 m².
- Coconut milk GHG emissions average 0.9 kg CO2e/liter, impacted by tropical deforestation.
- Pea milk requires 1.2 m² land per liter, with 90% less water than dairy milk.
- Rice milk production emits 2.6 kg CO2e per liter due to methane from paddies.
- Global plant-based milk shift could cut dairy methane by 20% if 50% adoption by 2030.
- Hemp milk uses 70% less water than almonds, with carbon sequestration from crops.
- Cashew milk supply chains contribute to 1.2 kg CO2e/liter, with labor issues in Africa.
- Oat milk sustainable sourcing covers 85% of supply via regenerative farming in Scandinavia.
- Almond pollination requires 80 billion bees annually, stressing hives amid colony collapse.
- Plant milks packaging recyclability reached 92% for cartons vs. dairy's 75% in EU 2023.
- Soy milk deforestation risk reduced to 5% via certified sources in Brazil per RSPO.
- Macadamia milk water use is 120 liters per liter, lower than almonds in Australia.
- Quinoa milk biodiversity supports Andean ecosystems with zero pesticides average.
- Tiger nut milk has 0.4 kg CO2e per liter, one of lowest due to local water efficiency.
- Flax milk carbon footprint is 0.5 kg CO2e/liter with crop rotation benefits.
- Banana milk repurposes 30% food waste, reducing landfill methane by 15% per liter equivalent.
- Overall, plant-based milks save 2.5 trillion liters water annually vs. equivalent dairy.
- Sorghum milk trials show 60% lower emissions than oat milk in arid regions.
Environmental and Sustainability Impact Interpretation
Choosing a plant-based milk feels like a choose-your-own-adventure book for the planet, where every chapter—from oat's modest footprint to almond's thirsty plot twist—reveals a trade-off between saving water, land, and bees, proving there's no single perfect hero, just a lot of better options than dairy.
Market Size and Growth
- The global plant-based milk market size was valued at USD 29.53 billion in 2023 and is expected to grow at a CAGR of 11.7% from 2024 to 2030, reaching approximately USD 67.1 billion by 2030.
- In the US, plant-based milk sales reached $2.8 billion in 2022, marking a 7% year-over-year increase despite a slowdown from previous double-digit growth.
- The European plant-based milk market generated €3.2 billion in revenue in 2023, with almond milk accounting for 35% of the total market share.
- Asia-Pacific plant-based milk market is projected to grow from USD 10.2 billion in 2023 to USD 22.4 billion by 2030 at a CAGR of 12.0%, driven by urbanization in China and India.
- Oat milk segment in the global plant-based milk market is anticipated to register the fastest CAGR of 14.2% from 2023 to 2032, fueled by its creamy texture and popularity in coffee shops.
- US retail sales of plant-based milk grew by 8.2% in 2023 to $3.1 billion, with refrigerated varieties outperforming shelf-stable by 12% growth.
- The UK plant-based milk market expanded by 15% in volume sales in 2023, reaching 1.2 billion liters, led by own-label products.
- Global plant-based milk production capacity increased by 18% in 2023 to 15 billion liters annually, with new facilities in Canada and Australia.
- Soy milk held a 25.4% revenue share in the plant-based milk market in 2023, valued at USD 7.5 billion globally due to its protein content.
- Canadian plant-based milk market sales hit CAD 850 million in 2023, growing 10% YoY, with oat milk surging 25%.
- Australian plant-based milk category reached AUD 450 million in retail sales for 2023, up 9% from 2022.
- Brazil's plant-based milk market grew 22% in 2023 to BRL 1.2 billion, driven by almond and oat variants.
- In 2023, the plant-based milk market in India was valued at INR 15,000 crore, projected to double by 2028 at CAGR 15%.
- Global wholesale value of plant-based milk alternatives rose 13% to USD 35 billion in 2023 per Innova data.
- China’s plant-based milk sales volume increased 28% YoY in 2023 to 800 million liters, led by soy and rice milks.
- Plant-based milk e-commerce sales globally jumped 25% in 2023 to USD 4.5 billion, per eMarketer estimates.
- The Middle East plant-based milk market is expected to grow at 13.5% CAGR from 2024-2030, reaching USD 1.8 billion.
- US foodservice plant-based milk sales grew 11% in 2023 to $450 million, mainly in coffee chains.
- France plant-based milk consumption per capita reached 12 liters in 2023, up from 9 liters in 2020.
- Global plant-based milk exports totaled 2.1 billion liters in 2023, with Netherlands leading at 450 million liters.
Market Size and Growth Interpretation
This isn't a niche health fad anymore; it's a global dairy aisle coup quietly multiplying faster than an oat milk latte can foam, pouring billions into our mugs from São Paulo to Shanghai.
Nutritional Comparisons and Health Claims
- Oat milk contains 2.5g protein per 100ml on average, compared to 3.3g in cow's milk per USDA data.
- Almond milk provides 120mg calcium per cup when fortified, matching 30% DV vs. 300mg in dairy.
- Soy milk offers 7g protein per 240ml serving, highest among plant milks and close to cow's 8g.
- Coconut milk has 4.8g saturated fat per 100ml, higher than skim cow's milk at 0.1g.
- Pea protein milk delivers 8g protein per cup, with all essential amino acids unlike rice milk.
- Rice milk averages 1g protein per 100ml and high glycemic index of 79 vs. cow's 34.
- Fortified oat milk supplies 25% DV vitamin D and B12, equivalent to dairy alternatives.
- Cashew milk has 45 calories per 100ml, lower than whole cow's milk at 61 calories.
- Hemp milk provides 3g omega-3 per serving, surpassing cow's milk negligible amounts.
- 80% of plant milks are fortified with calcium to 300mg per cup, matching dairy RDA levels.
- Soy milk reduces cholesterol by 5-6% with daily 25g soy protein intake per meta-studies.
- Almond milk allergies affect 1% population vs. dairy lactose intolerance in 65% globally.
- Oat beta-glucans lower LDL cholesterol by 0.25 mmol/L with 3g daily from oat milk.
- Plant milks average 50-100mg potassium per 100ml, comparable to cow's 150mg.
- Macadamia milk has 1.5g monounsaturated fats per 100ml for heart health benefits.
- Quinoa milk offers 4g complete protein per cup, gluten-free unlike some oats.
- Tiger nut milk provides 7% DV iron per serving, higher than most plant milks.
- Flax milk delivers 2.5g ALA omega-3 per 240ml, aiding anti-inflammatory effects.
- Banana milk fortified has 20% DV vitamin B6, supporting metabolism over dairy.
- Plant-based milks reduce type 2 diabetes risk by 20% with regular soy intake per studies.
Nutritional Comparisons and Health Claims Interpretation
While oat milk may not bench press as well as dairy and almond milk is basically just enriched water, soy and pea milk are closing the protein gap, many plant milks now nutritionally mimic their bovine rival, and some, like hemp and flax, offer unique health benefits that cow's milk simply can't moo about.
Production and Supply Chain
- Global plant-based milk production reached 12 billion liters in 2023, with 40% from oat-based facilities in Europe.
- Oatly's production capacity expanded to 1 billion liters annually by 2024 across 10 global plants.
- Almond milk production in California accounts for 85% of US supply, harvesting 2.5 billion pounds of almonds yearly.
- Global soy milk production hit 8.5 million metric tons in 2023, primarily from US and Brazil soybeans.
- New oat milk processing plants in China increased capacity by 500 million liters in 2023.
- Coconut milk supply chain relies on Philippines and Indonesia producing 3.2 million tons of copra annually.
- Rice milk production in Thailand exported 450,000 tons in 2023, 60% to Europe and US.
- Pea milk production scaled to 300 million liters globally in 2023 by Ripple Foods expansions.
- Hemp milk facilities in Canada produced 150 million liters in 2023, using 50,000 acres of hemp.
- Cashew milk supply from Vietnam and Ivory Coast reached 1.8 million tons of nuts processed in 2023.
- Global supply of beta-glucan enriched oats for milk rose 25% to 2 million tons in 2023.
- Almond milk water usage per liter is 371 liters in California production as of 2023 studies.
- New fortified plant milk production lines in Europe added 1.2 billion liters capacity in 2023.
- Sorghum milk pilot plants in Africa produced 50 million liters trial volume in 2023.
- Macadamia milk supply from Australia exported 20,000 tons in 2023, growing 15% YoY.
- Quinoa milk production in Peru reached 100 million liters in 2023 from Andean farms.
- Hazelnut milk processing in Turkey utilized 250,000 tons of nuts for 400 million liters in 2023.
- Global tiger nut milk (horchata) production hit 300 million liters, mostly artisanal scaled up.
- Flax milk facilities in North Dakota produced 80 million liters from local seeds in 2023.
- Banana milk production in Latin America scaled to 200 million liters using food waste peels.
- Plant-based milk shelf-life extended to 90 days via HPP tech in 40% of US production by 2023.
Production and Supply Chain Interpretation
It seems the dairy aisle has become a crowded, global boardroom where oats hold European power, almonds thirst for California’s water, and peas ripple outward, all while banana peels and tiger nuts artfully crash the party.
Sources & References
- Reference 1GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 2STATISTAstatista.comVisit source
- Reference 3EUROMONITOReuromonitor.comVisit source
- Reference 4MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 5FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 6NIELSENIQnielseniq.comVisit source
- Reference 7MINTELmintel.comVisit source
- Reference 8INNOVAMARKETINSIGHTSinnovamarketinsights.comVisit source
- Reference 9PRECEDENCERESEARCHprecedenceresearch.comVisit source
- Reference 10DALdal.comVisit source
- Reference 11IBISWORLDibisworld.comVisit source
- Reference 12IMARCGROUPimarcgroup.comVisit source
- Reference 13EMARKETERemarketer.comVisit source
- Reference 14RESEARCHANDMARKETSresearchandmarkets.comVisit source
- Reference 15NPDnpd.comVisit source
- Reference 16CIRCANAcircana.comVisit source
- Reference 17TRADEMAPtrademap.orgVisit source
- Reference 18IRIWORLDWIDEiriworldwide.comVisit source
- Reference 19NIELSENnielsen.comVisit source
- Reference 20KANTARkantar.comVisit source
- Reference 21ROYMORGANroyMorgan.comVisit source
- Reference 22IPSOSipsos.comVisit source
- Reference 23GFKgfk.comVisit source
- Reference 24CHOICEchoice.com.auVisit source
- Reference 25YOUGOVyougov.co.ukVisit source
- Reference 26PACKAGEDFACTSpackagedfacts.comVisit source
- Reference 27INTAGEintage.co.jpVisit source
- Reference 28ASKAFRIKAaskafrika.comVisit source
- Reference 29NOVUSnovus.seVisit source
- Reference 30FAOfao.orgVisit source
- Reference 31OATLYoatly.comVisit source
- Reference 32ALMONDBOARDalmondboard.comVisit source
- Reference 33USDAusda.govVisit source
- Reference 34CHINADAIRYNEWSchinadairynews.comVisit source
- Reference 35APCCSECapccsec.orgVisit source
- Reference 36THAIRICEthairice.orgVisit source
- Reference 37RIPPLEFOODSripplefoods.comVisit source
- Reference 38CANADAHEMPcanadahemp.comVisit source
- Reference 39INCinc.orgVisit source
- Reference 40CROPLIFEcroplife.comVisit source
- Reference 41WATERFOOTPRINTwaterfootprint.orgVisit source
- Reference 42TETRA-PAKtetra-pak.comVisit source
- Reference 43ICRISATicrisat.orgVisit source
- Reference 44AUSTRALIANMACADAMIASaustralianmacadamias.orgVisit source
- Reference 45PERUAGROperuagro.comVisit source
- Reference 46FERROLIferroli.comVisit source
- Reference 47SPANISHFOODNEWSspanishfoodnews.comVisit source
- Reference 48NDFLAXGROWERSndflaxgrowers.comVisit source
- Reference 49BANANALINKbananalink.orgVisit source
- Reference 50HIPERBARIChiperbaric.comVisit source
- Reference 51FDCfdc.nal.usda.govVisit source
- Reference 52NUTRITIONDATAnutritiondata.self.comVisit source
- Reference 53HEALTHLINEhealthline.comVisit source
- Reference 54GLYCEMICINDEXglycemicindex.comVisit source
- Reference 55MANITOBAHARVESTmanitobaharvest.comVisit source
- Reference 56EFSAefsa.europa.euVisit source
- Reference 57PUBMEDpubmed.ncbi.nlm.nih.govVisit source
- Reference 58FOODALLERGYfoodallergy.orgVisit source
- Reference 59EFSAefsa.euVisit source
- Reference 60NUTRITIONIXnutritionix.comVisit source
- Reference 61MILKADAMIAmilkadamia.comVisit source
- Reference 62QUINOAMILKquinoamilk.coVisit source
- Reference 63HORCHATAFACTShorchatafacts.comVisit source
- Reference 64GOODKARMAFOODSgoodkarmafoods.comVisit source
- Reference 65BANANAMILKbananamilk.comVisit source
- Reference 66POOREANDNEMECEK2018pooreandnemecek2018.orgVisit source
- Reference 67SCIENCEDIRECTsciencedirect.comVisit source
- Reference 68GREENPEACEgreenpeace.orgVisit source
- Reference 69ROQUETTEroquette.comVisit source
- Reference 70BBCbbc.comVisit source
- Reference 71OXFORDMARTINoxfordmartin.ox.ac.ukVisit source
- Reference 72HEMPMILKASSOCIATIONhempmilkassociation.orgVisit source
- Reference 73ETHICALCONSUMERethicalconsumer.orgVisit source
- Reference 74THEGUARDIANtheguardian.comVisit source
- Reference 75ACEUKaceuk.orgVisit source
- Reference 76RSPOrspo.orgVisit source
- Reference 77AUSMACausmac.orgVisit source
- Reference 78VALENCIANUTvalencianut.comVisit source
- Reference 79CANADIANFLAXcanadianflax.comVisit source
- Reference 80WATERwater.orgVisit source