Cibi e Bevande
Plant-Based Milk Market to Surpass Valuation of US$ 19.8 Bn in Asia Pacific By 2031; Focus on Nutritional Value & Palatability to Boost Acceptability to Drive Market, Says TMR
ALBANY, N.Y. , Oct. 7, 2021 /PRNewswire/ -- Efforts to increase the sensory acceptability and nutritional profile of oat milk, almond milk, and coconut milk will help propel the Asia Pacific plant-based milk market to reach US$ 19.8 Bn by 2031. Players are keenly leveraging new processing technologies to increase stability and preservation of the final product.
Plant-based nutritional beverages have gained popularity in various parts of the world, anchored on the growing preference for vegan diets and mounting calorie concerns in diets. In particular, several studies on global and regional estimates have found lactose malabsorption to be widespread in Asia .
The growth of the Asia Pacific plant-based milk market is stridently fueled by the demand for inexpensive, nutritional beverages, especially in economies where there exists significant demand-supply gap of cow's milk. Plant-based milk products have grown in demand among consumers to address the problems of allergies to cow milk and lactose intolerance. Furthermore, changing diet patterns are driving the evolution of the Asia Pacific plant-based milk market.
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China has witnessed extensive development of quality plant-based milk alternatives in the past few years. Changing taste and preferences of people, fueled by sheer pace of urbanization in the country, has led market growth in China . Producers targeting demand in the Asia Pacific plant-based milk products are leaning on expanding the products' range, mainly by adding new nutritional ingredients and introducing new flavors to attract consumers. China is projected to lead the regional market during the forecast period (2021-2031).
The competition landscape is enriched by the presence of several regional and global players in the Asia Pacific plant-based milk market. Some of the key players in the market are:
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