THE RISE OF 

PLANT BASED FOODS 

The plant-based milk market is expected to reach US$21 billion in 2024, growing at a CAGR of 10-18%, from 2020-2024.

The fastest-growing market is the Asia Pacific, due to the increased production as well as consumption of milk alternatives.

Between 2015 and 2019, sales of nondairy milks rose 23% in the US, and sales of plant based milk increased to $1.6b. In the UK, 

https://www.businesswire.com/news/home/20200305005398/en/Global-Plant-Based-Milk-Market-Expected-Reach

ASIA SEES BIGGEST GROWTH IN PLANT FOODS

​Plant-based milk drinks are set to continue to grow in Asia Pacific at a two percent CAGR between 2019 and 2024, reaching USD12. 3 billion in 2024.

 

Similarly, plant-based hot beverages are expected to increase at a CAGR of two percent, reaching USD6. 7 billion by 2024.

Float Foods is currently developing a plant milk range for the Singapore and Asian market.