PLANT-BASED MILK MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In June 2024, Califia Brand, a company that is known for its dairy-free products, introduced 'Complete Kids,' a nutritious alternative to dairy milk aimed at children. This product combines peas, chickpeas, and fava beans, providing 8g of protein, Omega-3, calcium, choline, and prebiotics. It contains 50% less sugar than traditional milk and offers a smooth, creamy flavor. Califia Brand has made the milk accessible through online platforms and U.S. grocery stores.
• In May 2024, Lactalis Canada, a subsidiary of the France-based dairy company- Lactalis, launched a new plant-based milk brand called "Enjoy" in Canada, targeting health-conscious consumers. The brand product portfolio includes six varieties of plant-based milk: plain oat, almond, and hazelnut milks, as well as vanilla-flavored oat and almond options, and a hazelnut-oat blend. These milks are non-GMO, gluten-free, and free from artificial colors, preservatives, and flavors.
• In April 2024, PLANTSTRONG Foods introduced a line of fortified whole plant-based milks in the U.S. The milk comes in four varieties: Unsweetened Almond, Unsweetened Oat, Oat & Almond, and Oat & Walnut, all packaged in 32-ounce containers that require no refrigeration until opened. These products are exclusively offered in over 500 whole foods market locations nationwide and can also be purchased directly from the company's website.
• In April 2024, Yeo Hiap Seng, a Singapore-based brand, introduced Yeo’s Immuno Soy Milk fortified with vitamin B6 and zinc. It is designed to bolster the immune system. Endorsed as a Healthier Choice in Singapore and Malaysia, it provides a lactose-free and nutritious alternative to traditional breakfast beverages. This soy milk range is rich in protein and calcium, available in original and chocolate flavors, with additional variations expected in the future.