The increasing demand for non-dairy milk has begun after people became vegan and shifted their food diets from animal-based milk to plant-based milk. Today plant-based milk is been consumed by many people, the popularity has just begun a few years back. The range of healthy and vegan products is now hugely becoming the alternatives for drinking, cooking, and baking. Every plant-based milk has its own unique nutritional value as they contain a wide range of protein, carbohydrates, fats, vitamins, minerals, and a high number of dietary fibers. If we compare to cow’s milk with plant-based milk, cow’s milk contains about 125mg of calcium per 100ml and plant-based milk contains roughly around 120mg of 100ml calcium.
Oat milk has been a popular dairy alternative nowadays, the milk is slightly sweet with a thin consistency of low-fat milk. The milk contains high dietary fibers, phytochemicals, and antioxidants, and even oats are known to be healthy food. It has been said that oats have cholesterol-lowering properties.The oat milk has a mild and creamy taste, that goes well with cereals and hot beverages. This milk is not suitable for people with celiac disease. The unflavoured oat milk has the highest number of calories and carbohydrates. Oat milk is made by extracting the milk from the oats by blending the soaked oats. The milk is free from lactose, nuts, and soy and gluten-free oat milk are available now.
According to the research report published by Actual Market Research titled “China Plant-Based Milk Market Research Report, 2027”, the market is expected to grow with a CAGR of more than 6% by end of the forecasted period of 2027. China holds the major market share in Asia-Pacific plant-based milk market. The plant-based market is divided into a variety of milk like soy milk, almond milk, rice milk, coconut, and oat milk. However, from all these milk the oat milk is growing with the highest CAGR in the market.
Almond milk is a plant-based dairy product that is rich in vitamin E and omega-3 fatty acids. An increasing number of health-conscious consumers, coupled with a rising inclination towards plant-based products, is anticipated to drive the market for almond milk over the forecast period. Rising cases of lactose intolerance and hypercholesterolemia are projected to fuel the market demand further. The product is devoid of cholesterol and lactose, thus making it a popular choice, especially among vegan consumers. Almond milk has varied applications in beverages, frozen desserts, and personal care products and is used as a major ingredient for manufacturing chocolates, cream liquor, and bakery products. Together with protein, the product is a rich source of zinc that helps to prevent hair greying and thus keeps the skin free from blemishes. Several cosmetic manufacturers use the formulation to produce face creams and hair care products, thereby driving the demand for almond milk in the industry.
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 to expand 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 products due to the spread of diseases.
Considered in this report
• Geography: China
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• China 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.