The Business Research Company’s Milk Substitutes (Nondairy Milk) Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON , UK, April 21, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Non-dairy milk producing companies are increasingly focusing on improving the shelf life of their products. Companies are trying to decrease the rate of bacterial formation in non-dairy milk through bacterial clarification using separators intended to remove bacterial spores. Ultra-pasteurization involves heating milk to a temperature of more than 280°F for at least 2 seconds that will kill harmful bacteria and increases shelf life to up to 120 days. For instance, soymilk produced by SunOpta is processed using ultra-pasteurization and has an extended shelf life of 12 months. Also, ultra-pasteurized almond milk by Pacific Foods has a shelf life of about a year. This is a major trend in the dairy alternatives market.
The non-dairy milk substitutes market covered in this report is segmented by type into soy milk, almond milk, rice milk, others. The plant-based milk market is also segmented by application into food, beverages, by distribution channel into supermarkets, hypermarkets, convenience stores, specialty stores, online retail stores, others, and by formulation into plain-sweetened, plain-unsweetened, flavored-sweetened, others.
The global milk substitutes market is expected to grow from $19.93 billion in 2020 to $21.44 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The non-dairy milk market is expected to reach $31.28 billion in 2025 at a CAGR of 9.9%.
Major players in the milk substitutes (non-dairy milk) industry are Hain Celestial Group, WhiteWave Foods, ADM, Nutriops S.L and Blue Diamond Growers.
Milk Substitutes (Nondairy Milk) Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides milk substitutes market overview, forecast milk substitutes market size and growth for the whole market, milk substitutes market segments, and geographies, milk substitutes market trends, milk substitutes market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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