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Plant-based Milk Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F

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New York, Dec. 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Plant-based Milk Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” – https://www.reportlinker.com/p06370191/?utm_source=GNW

The global plant-based milk market is anticipated to project robust growth in the forecast period because of increasing lactose intolerance among people, innovative offerings by market players globally, etc.Vegan milk is a type of plant-based milk that is free of dairy components.

It can be produced from soy, rice, almond, hemp, coconut milk, etc. Vegan milk, as opposed to conventional cow’s milk, typically contains less fat and less cholesterol.
Moreover, plant-based alternative companies are partnering with various artificial intelligence companies to bring innovations into their products.For instance, in 2020, Danone North America partnered with Brightseed, a biomedical artificial intelligence company, to explore the health benefits of plants.

Also, companies are taking initiatives to spread awareness regarding these products among consumers.For instance, Danone has planned to allocate USD15 million over the next seven years to partner with retailers on healthy eating education and USD7 million to improve access to nutritious foods through community-based programs.

These initiatives will further encourage consumers to purchase these products. Also, according to the Plant Based Foods Association, plant-based milk accounts for around 16% of all retail milk sales in the United States.
Rising Health Consciousness Fueling the Market Growth
The growing health consciousness among individuals, particularly after the COVID-19 pandemic situation, is prompting consumers to shift to plant-based milk as well as plant-based milk products since they offer various advantages such as they are rich in vitamins and minerals, low in fat, they do not contain cholesterol and are perfect for people with the low digestive system.Also, another main reason prompting people to shift to vegan milk is the increasing lactose intolerance.

Approximately 65% of the adult human population has some lactose intolerance, which causes abdominal pain and other gastrointestinal consequences after consuming dairy products.According to the National Institutes of Health (NIH), approximately 70 and 100% of adults of East Asian descent have lactose intolerance.

Hence, this factor is anticipated to further fuel the market growth of plant-based milk worldwide.
New Product Launches Offerings Aiding the Market Growth
Various companies are focusing on launching new products and expanding their product portfolios to cater to the growing demand for plant-based milk from consumers.For instance, in 2021, Alt foods, an Indian plant-based dairy startup, launched plant-based milk made with ingredients such as sprouted sorghum, sprouted finger millets, amaranth, and oats.

Additionally, several FMCG companies are offering products containing plant-based milk to customers.For instance, in 2021, Dunkin’ launched coconut milk on its menu.

The coffee company introduced two new coconut milk-based beverages: the Dunkin’ Coconut Refreshers and the Coconut milk Iced Latte.
Similarly, in 2021, Starbucks launched plant-based oat milk bottled coffee beverages.It is a ready-to-drink version of a vegan drink.

Moreover, several market players focus on investing and reformulating their products to expand their consumer base. For instance, in 2022, Danone North America announced it would invest USD22 million in new health and wellness initiatives, including reformulating 70% of its plant-based milk alternatives with healthier ingredients.
Ease of Availability Boosting the Market Growth
The accessibility of procuring raw materials such as coconut, soy, almonds, etc., particularly in emerging countries, is anticipated to contribute to the growing demand of this market. According to the FAO (Food and Agriculture Organization), Indonesia is the world’s largest coconut producer. These products are readily available to consumers as well. Various plant-based milk companies are offering their products online, making it convenient for consumers to purchase these products.
Market Segmentation
The global plant-based milk market is segmented based on type, category, packaging, distribution channel, region, and competitional landscape. Based on type, the market is further fragmented into soy milk, coconut milk, almond milk, rice milk, others (oat milk, etc.) It is also segmented on the basis of category, in terms of flavored vs non flavored milk. Based on packaging, it is segmented into cartons, pouches and bottles. Based on distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online and grocery stores. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Company Profiles
Danone S.A., Plamil Foods Ltd, Hain Celestial Group, Inc., Australian Health and Nutrition Association Ltd, Earth’s Own Food Company Inc., Campbell Soup Company, SunOpta Grains and Foods Inc, Sahmyook Foods, Blue Diamond Growers, and Califia Farms, LLC are among the major market players in the global platform that lead the market growth of the global Plant-based Milks market. Various companies are offering a wide variety of Plant-based Milks in different flavors such as chocolate, strawberry, etc.

Report Scope:

In this report, the global plant-based milk market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Plant-based Milk Market, By Type:
o Soy Milk
o Coconut Milk
o Almond Milk
o Rice Milk
o Others
• Plant-based Milk Market, By Category:
o Flavored
o Non-Flavored
• Plant-based Milk Market, By Packaging:
o Cartons
o Pouches
o Bottles
• Plant-based Milk Market, By Distribution Channel:
o Supermarkets/Hypermarkets
o Convenience Stores
o Specialty Stores
o Online
o Grocery Stores
• Plant-based Milk Market, By Region:
o North America
The United States
Canada
Mexico
o Europe
France
Germany
United Kingdom
Italy
Spain
o Asia-Pacific
China
India
Japan
South Korea
Australia
o Middle East & Africa
Saudi Arabia
South Africa
UAE
Turkey
o South America
Brazil
Argentina
Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global plant-based milk market.

Available Customizations:

With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06370191/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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https://www.instagram.com/kiwidesignins/

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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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