China Plant Based Milk Market Overview, 2029

Soy milk has been a mainstay of the Chinese cuisine for millennia. Almond, oat, and coconut milk are just a few of the possibilities available in today's plant-based milk industry. A growing number of people are becoming lactose intolerant, environmental awareness, and health-related issues are driving this trend. Plant-based diets started to become popular in the early 2000s, which is when China's market for plant-based milk started to develop. At first, soy milk ruled the market, but as interest in health and wellness increased throughout the world, additional plant-based milk substitutes started to appear. These items have become more widely available and have a greater range in the last ten years. Businesses, both domestic and foreign, have made R&D investments to produce plant-based milks that satisfy Chinese dietary requirements. Technological developments in food processing have also helped the industry by enhancing the flavour and nutritional value of plant-based milks. The demand for plant-based milk has increased even more due to the surge in vegan and vegetarian lifestyles, which are influenced by both traditional Chinese Buddhist traditions and international trends. Plant-based milks are becoming more widely available to the general public thanks to marketing campaigns and the goods' placement in large retail chains. According to the research report "China Plant Based Milk Market Overview, 2027" published by Bonafide Research, it is expected that the Plant Based Milk Market will grow rapidly over the forecast period. A number of important factors are driving the substantial expansion of the plant-based milk industry in China. Growing consumer health consciousness and worries about allergies and lactose intolerance have increased demand for plant-based substitutes. There are several opportunities in the Chinese market, particularly given the growing e-commerce platforms and retail infrastructure that make plant-based milk products more accessible. To gain traction in the market, product formulations that innovate to replicate the flavour and texture of traditional dairy milk are essential. China's plant-based milk industry is expected to increase significantly due to changing consumer tastes and supporting legislative frameworks that encourage sustainable food practices, as a growing number of people choose vegan and vegetarian diets.

Based on its origins, plant-based milk is available in a variety of forms, each with unique flavors, textures, and nutritional profiles to suit a range of dietary requirements and customer preferences. Soy milk is one of the oldest and most widely used plant-based milk substitutes in the world. It comes from soybeans and is well-known for having a high protein content and creamy texture, which makes it a top choice for people seeking a dairy-free protein source. Almond milk has a little sweet taste and a nutty, light flavour. It is created from powdered almonds and water. To improve its nutritional value, almond milk is frequently fortified with calcium, vitamin D, and vitamin E. The chopped flesh of fully grown coconuts is used to make coconut milk. It tastes lightly like coconut and has a thick, creamy texture. Compared to other plant-based milks, coconut milk has more calories and fat, but it also has a distinct flavour that complements both savoury and sweet foods. Water is combined with milled white or brown rice to make rice milk. Its flavour is moderate and somewhat sweet, which makes it a good choice for people who are lactose intolerant or allergic to nuts. Soaking oats in water, mixing, and filtering the solids are the steps involved in making oat milk. It tastes like cow's milk—it's somewhat sweet and has a creamy texture. Other plant-based sources that can be used to make plant-based milk include hemp, flaxseed, quinoa, and pea protein. All of these substitutes satisfy varying dietary needs and customer preferences while providing unique tastes and nutritional advantages. Formulations in the plant-based milk industry may be broadly divided into two categories: plain and flavoured varieties. Plain plant-based milks have a taste that is similar to that of regular dairy milk and are usually unflavored and unsweetened. Ingredients including soy, almond, oat, coconut, rice, or hemp are frequently used to make them. Customers searching for a flexible milk substitute that can be used for baking, cooking, and as a dairy substitute in drinks are drawn to simple formulas. Sweeteners (such cane sugar, agave syrup, or stevia) and artificial or natural flavours (including matcha, chocolate, strawberry, or vanilla) are added to enhance the flavour of plant-based milks. These formulations are intended for consumers who want to add diversity to their drinks and cereal or who are searching for ready-to-drink solutions that approximate flavoured dairy milk. Plant-based milks with flavours are frequently sold as stand-alone drinks that may be consumed cold or heated, as well as in smoothies and desserts. The market for plant-based milk offers both plain and flavoured formulations to accommodate a range of customer preferences, including dietary constraints, health-consciousness, and flavour preferences. As the demand for plant-based dairy substitutes rises, the market is expected to continue rising due to developments in ingredients and formulations. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Manmayi Raval

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Aspects covered in this report • Plant-based Milk market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Source • Soy • Almond • Coconut • Rice • Oat Milk • Other Sources (Cashews, Hazelnuts, Others) By Formulation • Plain • Flavored

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The approach of the report: This report consists of a combined approach to primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.