Across Europe, the success of plant-based milk is easy to see. Step into most leading supermarkets and you’ll find a variety of plant-based milk products lining the shelves – in both the chilled and long-life milk aisles.
It’s not just our supermarkets; plant-based milk can be found in popular food service venues, big-name hotels, and even schools throughout Europe. In our homes, non-dairy milk is now a staple.
Ahead of next week’s World Plant Milk Day (August 22), ProVeg International shares the latest market data and uncovers how plant-based milk became king.
An overview of the plant-based milk industry
In 2024, the non-dairy milk market is valued at an estimated USD 5.60 billion. It is projected to grow significantly, reaching USD 10.96 billion by 2029, with a compound annual growth rate (CAGR) of 14.38% (2024-2029).[1]
Within the European plant-based industry, plant-based milk is expected to dominate, holding a remarkable 66.8% market share.[2] Germany, Spain, and the UK lead the market by revenue,[3] with Germany holding a 22.8% value share in 2024.[4]
Off-trade channels, including supermarkets, hypermarkets, convenience stores, online retailers, and speciality food stores, represent the fastest-growing distribution channel. As European consumers increasingly use these venues, and with the expansion of online retailers, the off-trade segment is expected to rise significantly. In fact, off-trade channels currently hold the largest value share of the plant-based milk market, accounting for 97.79%.[5]
Conversely, on-trade channels for plant-based milk in Europe are still in their early stages. Consumers primarily prefer plant-based milk at home and are less likely to consume it at restaurants or food service outlets due to limited availability and the additional cost associated with it. Consequently, in 2022, on-trade channels captured less than 3% of the value share compared to off-trade channels.[1]
Consumer preferences are shifting. Soy milk has been the go-to plant milk for years, but with newcomers like oat, that’s starting to change. For example, in Germany, oat milk now comes out on top, with 75% of non-dairy milk consumers making it their go-to.[2] Across the rest of Europe, oat, soy, and almond milk lead the overall plant-based market in 2024, with different regions having different preferences. Encouragingly, nearly 54% of European consumers now prefer plant-based milk over traditional animal-based milk.[3]
Industry leader
With an impressive 66.8% plant-based market share,[4] non-dairy milk is the shining star of the plant-based industry.
But how did plant-based milk become the unsuspecting sector leader? And what can other plant-based categories learn from it? In the full New Food Hub article, ProVeg International breaks down the plant-based milk market, sharing insights that can be applied to other plant-based categories.
Head to the New Food Hub to read the article and uncover actionable insights for your business.
For expert support on your alternative protein strategy, get in touch with ProVeg International at [email protected].
[1] Europe non-dairy milk market, (2024). Mordor Intelligence. Available at: https://www.mordorintelligence.com/industry-reports/europe-non-dairy-milk-market. Accessed 2024-08-09.
[2] Comparing plant milks by region, (2024). Edlong. Available at: https://edlong.com/plant-based-milk-regional-roundup-comparing-the-category-across-europe-latam-north-america. Accessed 2024-08-09.
[3] Europe non-dairy milk market, (2024). Mordor Intelligence. Available at: https://www.mordorintelligence.com/industry-reports/europe-non-dairy-milk-market. Accessed 2024-08-09.
[4] Europe non-dairy milk market, (2024). Mordor Intelligence. Available at: https://www.mordorintelligence.com/industry-reports/europe-non-dairy-milk-market. Accessed 2024-08-09
