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MARKET OVERVIEW

1.1 Definition and scope of study

Vegetable (or plant) milk is a drink that is visually very similar to traditional milk, but often has a different taste and texture. This is linked to its production method, which is mainly based on the processing of plants, including:

  • Oleaginous (almonds, hazelnuts...);
  • Pulses (soybean…);
  • Cereals (wheat, rice...).

There are several reasons for consuming vegetable milk: its impact on the health of consumers is limited, especially for people with lactose intolerance, and it fits perfectly into diets such as veganism. The global vegetable milk market was valued at 12 billion dollars in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 11% and reach a value of 22.4 billion dollars by 2025. 

Health and ecological concerns are seen as major drivers of this market as people increasingly start looking out for their health and making choices for their diet while keeping in mind the environment. 

In Italy in 2020 150 million litres of vegetable milk were consumed. This represents an 8.2% growth in volume. In terms of value the market grew by 7.5% compared to 2019. The most consumed type of vegetable milk is soy milk, with 52 million litres being consumed in 2020. It is then followed by rice milk and almond milk. The average price of a liter of vegetable milk in Italy is 1.93 euros.

The main players on the Italian market are Alpro (part of the Danone group), Valsoia and Granarolo, however the market is somewhat fragmented with smaller private labels holding 25% of the market share.

ANALYSIS OF THE DEMAND

MARKET STRUCTURE

ANALYSIS OF THE OFFER

REGULATION

POSITIONING OF THE ACTORS

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in 40 pages
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Analysts

Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Ross Alumni Club France

Arnaud W.

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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane E.

EDHEC

Imane E.

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Vincent D.

Auditeur

Vincent D.

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Eva-Garance T.

Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

Azelie P.

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules D.

Consultant

Jules D.

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Alexia V.

Alexia V.

Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.