Butterfly Equity Acquired Milk Specialties Global: A Defining Factor in the Milk Substitutes (Non dairy milk) Market’s Growth Trajectory
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How large is the milk substitutes (non dairy milk) market, and what is its growth trajectory? The milk substitutes (non dairy milk) market size has grown rapidly in recent years. It will grow from $39.15 billion in 2024 to $44.77 billion in 2025 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to health and wellness trends, lactose intolerance awareness, vegan and plant-based lifestyle, diversity of product offerings, environmental and ethical concerns. The milk substitutes (non dairy milk) market size is expected to see rapid growth in the next few years. It will grow to $78.96 billion in 2029 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to rising demand for plant-based protein, innovations in product formulations, expansion of distribution channels, culinary applications and food trends, governmental support and regulations. Major trends in the forec...