Most of the plant-based milks are made in the same process, by soaking the ingredients water for several hours and then the raw ingredients are blended. Lastly the blended mixture is filtered to separate the milk from it and then it is boiled to sterilise the milk as well as enhance the flavour of the milk. The plant-based milk is mostly extracted from almonds, soy, macadamia, coconut and from many beans, cereals and pulses. The milks contain high fibres, antioxidants, monounsaturated and polyunsaturated fats.
These plant-based milks contain less saturated fats than dairy, whereas only the coconut milk contain more saturated fats than others. The milks are also lower in calories than the dairy milk and these milks are fortified with extra minerals and vitamins to ensure healthy body. The production of these milks has grown with the exponentially following changes in the food consumption pattern. As the days are passing people are becoming more conscious about health and their eating habits. Because of this reason people have started consuming plant-based products, to secure their health.
According to the report published by Actual Market Research titled “Brazil Plant-Based Milk Market Research Report, 2027”, the country is forecasted to hold the highest CAGR of more than 9%. Though Brazil is very popular for its huge production for nuts like almond, cashews, macadamia nuts, and peanuts, but by the end of the forecasted year 2027, the oat milk is expected to grow with the highest CAGR. The plant-based milk market is recently on more demand because of its nutrition values present in it and works as an excellent substitute of animal-based milk. Most importantly these milks are introduced for people who can’t consume dairy milk and are allergic to cow milk.
Plant-based milk manufacturers are seeking to sell more exclusive flavours since they draw more customers. There is an increasing focus on launching diverse flavours to cater to the diverse requirements of consumers. Companies serving the plant-based milk market are focusing on flavoured formulations to entice consumers, particularly the younger generation. Although there is notable consumption of regular plant-based milk formulations by consumers, companies aim to differentiate themselves from their competitors by focusing on flavoured formulations. Companies that produce non-dairy milk are anticipating that demand will continue to rise based on their earnings figures over the last few years.
Consumers' busy and chaotic lifestyles, particularly in industrialised countries, leave them with little time to go to supermarkets or stores to buy the products they need on a daily basis. The role of online retailers is expanding the sales of food and beverage products. Distribution through online platforms is becoming a profitable strategy for companies, as online retailers have made it easy for companies to reach consumers. Furthermore, increased smartphone penetration further supports this aspect. Although food and beverage offerings are penetrating retail stores, companies continue to emphasise on permeating online retail platforms to cash in on the opportunities held by online retailers. However, online shopping gives consumers the convenience of being able to buy anything from an online shopping platform without having to leave their homes. Considering this, sales via e-commerce are expected to increase at an impressive rate in the coming years.
The COVID-19 pandemic has negatively impacted the world economy at large. Major economies were hit hard, resulting in a significant decline in GDP to a significant extent. The demand and supply chain disruption led to a noticeable decline in the plant-based milk market in 2020. With the tourism industry coming to a halt altogether, the plant-based milk market, being inversely related, suffered. However, the pandemic is now being seen as an advantage for plant-based food products, as consumers move towards healthy food eating habits. Consumers want to refrain from any animal-origin product due to the spread of diseases.
Considered in this report
• Geography: Brazil
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• Brazil plant-based milk market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Types of milk in the report
• Soy milk
• Almond milk
• Coconut milk
• Rice milk
• Oat milk
• Other milk (Cashew, hazelnut, other)
Type of milk by formulation:
• Plain milk
• Flavoured milk
By Sales Channel:
• Convenience Stores
• Others (Airports, gas stations, Cafes, Health shops)
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to plant based milk industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.