Plant-Based Milk Market to Surpass $35.22 Billion by 2032 at 7.4% CAGR: Coherent Market Insights
Burlingame, CA, June 24, 2025 (GLOBE NEWSWIRE) -- The global Plant-based milk market is estimated to be valued at USD 21.35 Bn in 2025 and is expected to reach USD 35.22 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 7.4% from 2025 to 2032. The plant-based milk market is experiencing significant growth, driven by rising health consciousness among consumers and the increasing prevalence of lactose intolerance. Factors such as the expanding vegan population, environmental concerns related to traditional dairy production, and the growing variety of plant-based milk options are fueling market expansion. Additionally, heightened awareness of the nutritional advantages—such as lower cholesterol, fewer calories, and reduced fat content compared to animal-based milk—is further contributing to the rising demand.
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Global Plant-Based Milk Market Key Takeaways
According to Coherent Market Insights (CMI), the global plant-based milk market size is expected to total USD 21.35 Bn in 2025 and USD 35.22 Bn by 2032.
Global demand for plant-based milk products will likely increase at a CAGR of 7.4% between 2025 and 2032.
Based on product, almond milk category is anticipated to account for nearly one-fourth of the global plant-based milk market share in 2025.
By nature, organic plant-based milk segment is set to dominate the industry, holding a market share of more than three-fifths in 2025.
In terms of flavor, unflavored segment will likely account for 54.8% of the global plant-based milk market revenue share by 2025.
As per Coherent Market Insights’ new plant-based milk market analysis, North America is estimated to hold a global market share of over two-fifths in 2025.
Europe is anticipated to emerge as the happy hunting ground for plant-based milk manufacturers during the assessment period.
Increasing Prevalence of Lactose Intolerance Spurring Market Growth
Coherent Market Insights’ latest plant-based milk market report outlines major factors driving the industry’s growth. One such prominent growth factor is the rising incidence of lactose intolerance and dairy allergies.
A significant portion of the global population is lactose intolerant. According to the World Population Review’s report, about 65% of adults have lactose intolerance. This is prompting these people to opt for plant-based milk alternatives, thereby fueling market expansion.
Plant-based milk types, like almond milk, cashew milk, oat milk, and soy milk, are taking the food industry by storm. They are becoming the talk of the town with their healthy nutritional profile and dairy-free nature.
Plant-based milk provides a dairy-free alternative for individuals with lactose intolerance, milk protein allergies, or other sensitivities. As the number of lactose-intolerant individuals continues to grow, so will demand for plant-based milk alternatives.
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High Cost of Plant-Based Milk Limiting Market Growth
The prospective plant-based milk market outlook appears promising, considering the increasing popularity of veganism and rising prevalence of lactose intolerance. However, high cost of plant-based milk alternatives poses a significant challenge to wider market growth.
Plant-based milk alternatives, especially almond and macadamia milk, are more expensive than traditional dairy milk. This price disparity limits adoption, especially in low- and middle-income nations, leading to reduced plant-based milk market demand.
Rising Vegan and Flexitarian Population to Create Lucrative Growth Opportunities
The global vegan and flexitarian population is increasing significantly due to factors like growing awareness of animal welfare and environmental sustainability. This is expected to create lucrative opportunities for plant-based milk companies.
Plant-based milk aligns with ethical and ecological values of modern consumers. As more people adopt plant-based lifestyles, demand for plant-based milk is expected to rise significantly, fueling market growth.
Impact of AI Trend on the Plant-Based Milk Market
Artificial intelligence (AI) is becoming a powerful tool in the vegan milk market. Leading plant-based milk producers like Oatly and NotCo are turning to AI to enhance every aspect of the business, ranging from optimizing supply chains to reducing inventory waste.
Machine learning refines formulations to deliver smoother textures and closer-to-dairy taste using advanced ingredient optimization and emulsification techniques. Moreover, AI-driven predictive analytics are helping brands significantly cut packaging material waste, slash energy usage, and lower carbon emissions.
Innovations like NotCo’s AI ‘Giuseppe’ system exemplify how startups are leveraging AI to create plant-based milks that closely mimic dairy in taste and nutritional profile. Such innovations will play a key role in boosting the plant-based milk market growth.
Emerging Plant-Based Milk Market Trends
A notable trend in the plant-based milk market is fortification. Leading manufacturers of plant-based milk alternatives are fortifying their products with essential nutrients like vitamins, minerals, and prebiotics to expand their customer base.
Rising health and wellness trends are positively influencing the plant-based milk market value. Today, more and more people are choosing plant-based milk alternatives. This is because they are considered as healthier options due to their lower cholesterol, calorie, and saturated fat content compared to traditional dairy milk.
Ongoing product innovation is throwing a new life into the plant-based milk industry. Top companies are investing rigorously in research and development (R&D) to improve taste, texture, and nutritional profiles of their products. This will help them woo more and more customers.
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Analyst’s View
“The global plant-based milk industry is set to experience strong growth, owing to rising prevalence of lactose intolerance, growing vegan and flexitarian population, and increasing consumer awareness regarding the health and environmental benefits of plant-based alternatives,” said senior analyst Sakshi Suryawanshi.
Current Events and Their Impact on the Plant-Based Milk Market
| Event | Description and Impact |
| EU Green Deal & Sustainability Mandates |
|
| Technological Advancements in Plant-Based Milk Production |
|
| Celebrity & Influencer-Led Plant-Based Campaigns |
|
Competitor Insights
Key companies listed in the plant-based milk market research report
- Califia Farms, LLC
- Danone S.A.
- Elmhurst Milked Direct, LLC
- The Hain Celestial Group, Inc.
- Ripple Foods, PBC
- SunOpta Inc.
- Pacific Foods of Oregon, LLC
- Blue Diamond Growers
- Dohler GmbH
- Oatly AB
- Horizon Organic
- Daiya Foods Inc.
Key Developments
In June 2025, Giraf officially launched its macadamia milk in the United Kingdom, offering foodservice operators and retailers a smooth, flavorful dairy-free alternative.
In February 2024, Califia Farms officially launched Califia Farms Complete, a refrigerated plant-based milk designed to be nutritionally comparable to dairy.
Market Segmentation:
Product Insights (Revenue, USD Bn, 2020 - 2032)
- Almond Milk
- Oat Milk
- Soy Milk
- Coconut Milk
- Rice Milk
- Others
Nature Insights (Revenue, USD Bn, 2020 - 2032)
- Organic
- Conventional
Flavor Insights (Revenue, USD Bn, 2020 - 2032)
- Unflavored
- Flavored
Distribution Channel Insights (Revenue, USD Bn, 2020 - 2032)
- Offline
- Online
- Others
Regional Insights (Revenue, USD Bn, 2020 - 2032)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
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