Alternative milks like cashew milk, soy milk, almond milk have been doing the rounds since the last few years. However, this category, i.e. plant-based milk is witnessing exponentiation now and the scenario is expected to remain unchanged even in the forecast period. The market is, in fact, expected to witness a double-digit CAGR (~10%) between 2021 and 2031.
The basic advantage of plant-based milk is that it’s free of lactose. So, those allergic to lactose can have a good time with plant-based milk.
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Existing Plant-based Milk (s)
These days, plant-based milk is available in the blended form. They could be potato milk, oat milk, hemp milk, hazelnut milk, sesame milk, banana milk, pistachio milk, flaxseed milk, or macadamia milk.
Potatoes are peeled, boiled, and blended with maple syrup, almonds, and water to form potato milk. 3 grams of protein with 2.6 grams of fiber are obtained, that too, for merely 92 calories. This organic plant-based milk is likely to create ripples in the upcoming period. This milk does serve as a feasible coffee creamer. The new-fangled barista milk is an oat milk designed for creating foaming effect. This milk does create a good base for lattes/tea. This milk contains 3 grams of protein, 160 grams of calories, and 2 gram of fiber. A cup of hemp milk contains 3-4 grams of protein, 130-140 calories, and up to 2 grams of fiber. This too works well for coffee. Hazelnut milk contains 30-90 calories, 1 gram of fibre, and 1-2 grams of protein. It does well as creamy addition to the baked products. Those whose systems don’t accept nuts could try sesame milk out. It contains 8 grams of protein, 90 calories, and less than a gram of fiber. Banana milk could help with 60-80 calories/cup. Also, it is abreast with a gram of fiber and protein. Pistachio milk is conducive for diabetic patients. It is usually a blend of almonds and pistachios. A cup of this milk contains 100 calories, 2 grams of fiber, and 4 grams of protein. Flaxseed milk is good for the ones allergic to lactose and nuts alike. A cup provides 70-120 calories, 3 grams of fiber, and 2 grams of protein. Macadamia milk does pave the way for healthy fits and fats in Keto diet. Rice milk makes way for >65 calories.
The Competitors say…
Plant-based milk benefits (as mentioned above) have prompted the key participants to handsomely invest in various permutations and combinations herein. Plant-based protein powder is also being made available for long-term use. Along these lines, Costa Coffee has its almond milk for meeting demand for vegan things. Califa Farms has its Ubermilk. It’s amongst the nutritious lines of oat milk beverages packed with essential nutrients and protein. Blue Diamond Growers, Inc. has its almond milk Mexican hot chocolate comprising cinnamon, red pepper, and allspice, under the category of “Almond Breeze”. Vitasoy International Holdings Ltd. is into providing soy milk of premium quality. The other players include Ripple Foods, DREAM, Daiya Foods, Danone, Malk Organic, Archer Daniels Midland, The New Barn, and likewise.
North America holds the largest market share due to speedy expansion of the market for dairy alternatives in the US. Europe stands second on this count with an increasing demand for rice and soy milk. Germany, Italy, and France rule the roost. These two regions are bound to take the plant-based milk market by storm in the near future.
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