Plant-based milk is extracted from sources such as soy, almonds, coconuts, oats, rice.
With the increase in adoption of veganism, there is a growing demand for plant-based milk products across India.
According to Businesswire, Indian dairy alternative market stood at $20.9 million in 2018 and is projected to grow at a CAGR of 20.7% to reach $63.9 million by 2024.
Soy milk and Almond milk are the two most consumed segments. Also, the northern region of India accounts for about 40% of the plant-based milk consumption in the country.
The brands widely available in India include – Sofit, So good, GoodMylk, Nutriva, Raw Pressery, Urban Platter, Epigamia.
Read the article to understand the reason for the growth of non-dairy alternatives, market overview along with offerings of various players in the segment.