TABLE OF CONTENTS
1 INTRODUCTION 75
1.1 OBJECTIVES OF THE STUDY 75
1.2 MARKET DEFINITION 75
1.3 OVERVIEW OF EUROPE PLANT-BASED MILK MARKET 75
1.4 LIMITATIONS 78
1.5 MARKETS COVERED 78
2 MARKET SEGMENTATION 84
2.1 MARKETS COVERED 84
2.2 GEOGRAPHICAL SCOPE 85
2.3 YEARS CONSIDERED FOR THE STUDY 86
2.4 CURRENCY AND PRICING 86
2.5 DBMR TRIPOD DATA VALIDATION MODEL 87
2.6 MULTIVARIATE MODELLING 90
2.7 TREATMENT LIFELINE CURVE 90
2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 91
2.9 DBMR MARKET POSITION GRID 92
2.10 SECONDARY SOURCES 93
2.11 ASSUMPTIONS 93
3 EXECUTIVE SUMMARY 94
4 PREMIUM INSIGHTS 97
4.1 SUPPLY CHAIN OF EUROPE PLANT-BASED MILK MARKET 98
4.1.1 RAW MATERIAL PROCUREMENT 98
4.1.2 PROCESSING 99
4.1.3 MANUFACTURING 99
4.1.4 MARKETING AND DISTRIBUTION 99
4.1.5 END USERS 99
4.2 BRAND COMPARATIVE ANALYSIS 100
4.3 CONSUMER DISPOSABLE INCOME DYNAMICS/SPEND DYNAMICS 102
4.3.1 OVERVIEW 102
4.3.1.1 SOCIAL FACTORS 103
4.3.1.2 CULTURAL FACTORS 103
4.3.1.3 PSYCHOLOGICAL FACTORS 103
4.3.1.4 PERSONAL FACTORS 103
4.3.1.5 ECONOMIC FACTORS 103
4.3.2 PRODUCT TRAITS 103
4.3.2.1 MARKET ATTRIBUTES 103
4.3.2.2 CONSUMERS' DISPOSABLE INCOME/SPEND DYNAMICS 104
4.4 INDUSTRY TRENDS AND FUTURE PERSPECTIVE 105
4.4.1 RISING ADOPTION OF ADVANCED TECHNOLOGIES IN THE PLANT-BASED MILK INDUSTRY 105
4.4.2 CERTIFICATIONS AND LABELLING CLAIMS AMONG MANUFACTURERS 105
4.4.3 BUSINESS EXPANSIONS THROUGH DIFFERENT STRATEGIC DECISIONS 106
4.5 NEW PRODUCT LAUNCH STRATEGY 107
4.5.1 OVERVIEW 107
4.5.1.1 LINE EXTENSION 107
4.5.1.2 NEW PACKAGING 108
4.5.1.3 RELAUNCHED 108
4.5.1.4 NEW FORMULATION 109
4.6 CONSUMER LEVEL TRENDS AND MEETING CONSUMERS' REQUIREMENTS 110
4.6.1 GROWING CONSUMERS' INTEREST IN PLANT-BASED DIETS 110
4.6.2 LACTOSE INTOLERANCE 110
4.6.3 VARIETY OF FLAVORS 111
4.7 FACTORS INFLUENCING PURCHASE DECISION 113
4.7.1 LARGE PRODUCT RANGE 113
4.7.2 PRODUCT PRICING 113
4.7.3 AUTHENTICITY OF PRODUCT 114
4.8 SHOPPING BEHAVIOR AND DYNAMICS 115
4.8.1 RECOMMENDATIONS FROM FAMILY AND FRIENDS 115
4.8.2 RESEARCH 115
4.8.3 IMPULSIVE 115
4.8.4 ADVERTISEMENT 115
4.8.5 TELEVISION ADVERTISEMENT 116
4.8.5.1 ONLINE ADVERTISEMENT 116
4.8.5.2 IN-STORE ADVERTISEMENT 116
4.8.5.3 OUTDOOR ADVERTISEMENT 116
4.9 PRIVATE LABEL VS BRAND LABEL 117
4.10 PROMOTIONAL ACTIVITIES 118
5 REGULATIONS, CERTIFICATIONS, AND LABELING CLAIMS 119
6 MARKET OVERVIEW 122
6.1 DRIVERS 124
6.1.1 INCREASE IN VEGAN POPULATION AROUND THE GLOBE 124
6.1.2 INCREASE IN LACTOSE INTOLERANT POPULATION 125
6.1.3 RISE IN PROMOTIONAL ACTIVITIES AND SOCIAL MEDIA MARKETING 126
6.1.4 AVAILABILITY AND ACCESSIBILITY OF A WIDER RANGE OF PLANT-BASED MILK PRODUCTS 126
6.2 RESTRAINTS 127
6.2.1 HIGH PRICE OF PLANT-BASED MILK IN COMPARISON TO DAIRY-BASED MILK 127
6.2.2 TASTE AND TEXTURE ISSUES ASSOCIATED WITH PLANT-BASED MILK 128
6.2.3 FLUCTUATING RAW MATERIAL PRICES 128
6.3 OPPORTUNITIES 129
6.3.1 RISING AWARENESS REGARDING ENVIRONMENTAL CONCERNS IS FUELING THE MARKET GROWTH 129
6.3.2 GROWING NEW PRODUCT LAUNCHES AND NEW PARTNERSHIPS, ACQUISITION AMONG KEY PLAYERS 130
6.3.3 INCREASED DEMAND FOR FORTIFIED BEVERAGES IN THE MARKET 131
6.4 CHALLENGES 132
6.4.1 RISE IN NUT ALLERGIES AMONG CONSUMERS 132
6.4.2 STRINGENT GOVERNMENT REGULATIONS 132
6.4.3 RISE IN THE NUMBER OF PLANT-BASED MILK PRODUCERS IN THE MARKET 133
7 IMPACT OF COVID-19 134
7.1 CONSUMERS WITH CARDIOVASCULAR DISEASE AND OBESITY AT HIGH RISK OF COVID-19 134
7.2 INCREASED DEMAND FOR SPECIFIC FOOD PRODUCTS FOR VEGAN DIETS 135
7.3 IMPACT ON DEMAND 135
7.4 IMPACT ON SUPPLY 135
7.5 CONCLUSION 136
8 EUROPE PLANT-BASED MILK MARKET, BY TYPE 137
8.1 OVERVIEW 138
8.2 OAT MILK 139
8.2.1 OAT MILK, BY FORMULATION 140
8.2.1.1 UNSWEETENED 140
8.2.1.2 SWEETENED 140
8.3 SOY MILK 140
8.3.1 SOY MILK, BY FORMULATION 141
8.3.1.1 UNSWEETENED 141
8.3.1.2 SWEETENED 141
8.4 ALMOND MILK 142
8.4.1 ALOMIN MILK, BY FORMULATION 143
8.4.1.1 UNSWEETENED 143
8.4.1.2 SWEETENED 143
8.5 COCONUT MILK 143
8.5.1 COCONUT MILK, BY FORMULATION 144
8.5.1.1 UNSWEETENED 144
8.5.1.2 SWEETENED 144
8.6 RICE MILK 144
8.6.1 RICE MILK, BY FORMULATION 145
8.6.1.1 UNSWEETENED 145
8.6.1.2 SWEETENED 145
8.7 CASHEW NUT MILK 146
8.7.1 CASHEW MILK, BY FORMULATION 146
8.7.1.1 UNSWEETENED 147
8.7.1.2 SWEETENED 147
8.8 WALNUT MILK 147
8.8.1 WALNUT MILK, BY FORMULATION 148
8.8.1.1 UNSWEETENED 148
8.8.1.2 SWEETENED 148
8.9 HAZELNUT MILK 148
8.9.1 HAZELNUT MILK, BY FORMULATION 149
8.9.1.1 UNSWEETENED 149
8.9.1.2 SWEETENED 149
8.10 FLAX MILK 149
8.10.1 FLAX MILK, BY FORMULATION 150
8.10.1.1 UNSWEETENED 150
8.10.1.2 SWEETENED 150
8.11 OTHERS 150
8.11.1 OTHERS, BY FORMULATION 151
8.11.1.1 UNSWEETENED 151
8.11.1.2 SWEETENED 151
9 EUROPE PLANT-BASED MILK MARKET, BY PRODUCT TYPE 152
9.1 OVERVIEW 153
9.2 REFRIGERATED MILK 154
9.3 SHELF STABLE MILK 155
10 EUROPE PLANT-BASED MILK MARKET, BY FORMULATION 156
10.1 OVERVIEW 157
10.2 UNSWEETENED 158
10.3 SWEETENED 159
11 EUROPE PLANT-BASED MILK MARKET, BY CATEGORY 161
11.1 OVERVIEW 162
11.2 CONVENTIONAL 163
11.3 ORGANIC 164
12 EUROPE PLANT-BASED MILK MARKET, BY FLAVOR 166
12.1 OVERVIEW 167
12.2 ORIGINAL/UNFLAVORED 168
12.2.1 ORIGINAL/UNFLAVORED, BY MILK TYPE 168
12.2.1.1 ALMOND MILK 169
12.2.1.2 OAT MILK 169
12.2.1.3 SOY MILK 169
12.2.1.4 COCONUT MILK 169
12.2.1.5 RICE MILK 169
12.2.1.6 CASHEW NUT MILK 169
12.2.1.7 FLAX MILK 170
12.2.1.8 WALNUT MILK 170
12.2.1.9 HAZELNUT MILK 170
12.2.1.10 OTHERS 170
12.3 VANILLA 170
12.3.1 VANILLA, BY MILK TYPE 170
12.3.1.1 ALMOND MILK 171
12.3.1.2 OAT MILK 171
12.3.1.3 SOY MILK 171
12.3.1.4 COCONUT MILK 171
12.3.1.5 RICE MILK 171
12.3.1.6 CASHEW NUT MILK 171
12.3.1.7 FLAX MILK 171
12.3.1.8 WALNUT MILK 172
12.3.1.9 HAZELNUT MILK 172
12.3.1.10 OTHERS 172
12.4 CHOCOLATE 172
12.4.1 CHOCOLATE, BY MILK TYPE 172
12.4.1.1 ALMOND MILK 173
12.4.1.2 OAT MILK 173
12.4.1.3 SOY MILK 173
12.4.1.4 COCONUT MILK 173
12.4.1.5 RICE MILK 173
12.4.1.6 CASHEW NUT MILK 173
12.4.1.7 FLAX MILK 173
12.4.1.8 WALNUT MILK 174
12.4.1.9 HAZELNUT MILK 174
12.4.1.10 OTHERS 174
12.5 COFFEE 174
12.5.1 COFFEE, BY MILK TYPE 174
12.5.1.1 ALMOND MILK 175
12.5.1.2 OAT MILK 175
12.5.1.3 SOY MILK 175
12.5.1.4 COCONUT MILK 175
12.5.1.5 RICE MILK 175
12.5.1.6 CASHEW NUT MILK 175
12.5.1.7 FLAX MILK 175
12.5.1.8 WALNUT MILK 176
12.5.1.9 HAZELNUT MILK 176
12.5.1.10 OTHERS 176
12.6 COCONUT BLEND 176
12.6.1 COCONUT BLEND, BY MILK TYPE 176
12.6.1.1 ALMOND MILK 177
12.6.1.2 OAT MILK 177
12.6.1.3 SOY MILK 177
12.6.1.4 COCONUT MILK 177
12.6.1.5 RICE MILK 177
12.6.1.6 CASHEW NUT MILK 177
12.6.1.7 FLAX MILK 178
12.6.1.8 WALNUT MILK 178
12.6.1.9 HAZELNUT MILK 178
12.6.1.10 OTHERS 178
12.7 CARAMEL 178
12.7.1 CARAMEL, BY MILK TYPE 178
12.7.1.1 ALMOND MILK 179
12.7.1.2 OAT MILK 179
12.7.1.3 SOY MILK 179
12.7.1.4 COCONUT MILK 179
12.7.1.5 RICE MILK 179
12.7.1.6 CASHEW NUT MILK 179
12.7.1.7 FLAX MILK 179
12.7.1.8 WALNUT MILK 180
12.7.1.9 HAZELNUT MILK 180
12.7.1.10 OTHERS 180
12.8 HONEY 180
12.8.1 HONEY, BY MILK TYPE 180
12.8.1.1 ALMOND MILK 181
12.8.1.2 OAT MILK 181
12.8.1.3 SOY MILK 181
12.8.1.4 COCONUT MILK 181
12.8.1.5 RICE MILK 181
12.8.1.6 CASHEW NUT MILK 181
12.8.1.7 FLAX MILK 181
12.8.1.8 WALNUT MILK 181
12.8.1.9 HAZELNUT MILK 181
12.8.1.10 OTHERS 181
12.9 HAZELNUT BLEND 181
12.9.1 HAZELNUT BLEND, BY MILK TYPE 182
12.9.1.1 ALMOND MILK 182
12.9.1.2 OAT MILK 182
12.9.1.3 SOY MILK 183
12.9.1.4 COCONUT MILK 183
12.9.1.5 RICE MILK 183
12.9.1.6 CASHEW NUT MILK 183
12.9.1.7 FLAX MILK 183
12.9.1.8 WALNUT MILK 183
12.9.1.9 HAZELNUT MILK 183
12.9.1.10 OTHERS 183
12.10 MAPLE 183
12.10.1 MAMPLE, BY MILK TYPE 184
12.10.1.1 ALMOND MILK 184
12.10.1.2 OAT MILK 184
12.10.1.3 SOY MILK 184
12.10.1.4 COCONUT MILK 184
12.10.1.5 RICE MILK 184
12.10.1.6 CASHEW NUT MILK 184
12.10.1.7 FLAX MILK 185
12.10.1.8 WALNUT MILK 185

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