Potato Milk Market - Forecast(2024 - 2030)

Potato Milk Market size is estimated to reach $0.5 billion by 2030, growing at a CAGR of 5.2% during the forecast period 2023-2030. A vegan milk substitute prepared from potatoes is known as potato milk. It has become more well-known as a dairy-free, nut-free, and soy-free alternative for people with dietary restrictions or allergies. Potato starch is normally extracted from them and blended with water and other substances during manufacture. The growing adoption of plant-based milk is propelling the growth of the market.

According to Vegconomist February 2022, DUG's Potato Milk was launched at Waitrose, where sales have increased by over 50% as the market for potato milk is expanding significantly, largely owing to the rising popularity of plant-based milk substitutes. Potato milk has become more popular on the market as customer preferences shift toward plant-based and dairy-free solutions. Environmental sustainability, dietary habits, and health consciousness all have an impact on the demand for plant-based products.

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The “Potato Milk Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Potato Milk Market.

 COVID-19 / Ukraine Crisis - Impact Analysis:

The Covid-19 epidemic has had a significant impact on the world. The food supply chain has been significantly impacted by the COVID-19 pandemic in a number of different industries. Since potato milk is a diversified dietary source, the pandemic has had an impact on it. The potato milk market has been impacted by supply chain interruptions, consumer behavior shifts, and demand swings. Prices have been distorted as a result of the wider effects of COVID-19 on the food market. The spread of the virus may have impacted retail and wholesale costs in urban markets, especially those for potato milk.

The Russian invasion of Ukraine in 2022, Supply chains may be disrupted by the conflict, which could have an impact on how food products like potato milk are produced and distributed. Possible changes in the supply and cost of potato milk could be caused by factors like trade restrictions, transportation difficulties, and economic instability. If each nation is a significant exporter of potatoes or products made from potatoes, changes to their production and export could have an indirect impact on the supply and cost of potato milk by affecting the global potato market.

Geographically, in the global Potato Milk Market share, Europe is analyzed to grow with the highest share of 33% market share in 2022. Europe, a significant player in this industry, dominates the market for potato milk. The potato milk market has been divided into geographical segments, with Europe emerging as a major contributor. According to Euronews in February 2022, nearly 25% of Brits now drink plant-based milk, and that percentage rises to 33% among those aged 18 to 24 as the greatest market share for potato milk is anticipated to be held by the European region, confirming its dominance in the industry. This dominance is a direct outcome of Europe's dominance in global markets for potatoes, particularly those for potato protein and potato processing. The production of potato milk is part of Europe's robust food processing industry, which also helps explain the continent's significant market share in the potato processing industry.

According to the Potato Milk Market the Hot Drinks segment is estimated to grow with the highest share of 18.5% market share in 2022. Potato milk, a vegan substitute, is becoming more and more popular in a variety of hot drink recipes. owing to its creamy consistency, potato milk offers a great alternative to typical dairy in lattes and cappuccinos. As per Enterprise Apps in May 2023, 15% to 20% of households in the United States of America drink hot tea as a consequence of rising demand for hot drinks. Also, it is frequently used by baristas to make the popular espresso-based drinks' silky microfoam. To make a tasty chai, aromatic spices can be added to potato milk. For those seeking dairy-free drinks without sacrificing flavor, this modern take on traditional chai offers a rich and pleasant beverage. Matcha connoisseurs can sip a vivid and earthy potato milk matcha latte. Matcha's rich and powerful flavors are complemented by potato milk's creamy mouthfeel, making for a wonderful beverage.

According to the Potato Milk Market the Non-Store based segment is estimated to grow with the highest CAGR of 5.1% during the forecast period 2023-2030. Online platforms, direct-to-consumer business formats, and various channels other than conventional brick-and-mortar stores are examples of non-store-based channels. This expansion is explained by shifting consumer preferences, growing digitalization, and the ease of Internet shopping. Consumers are increasingly choosing non-store-based channels to buy potato milk items as e-commerce and online shopping become more popular. The growth of the potato milk market via non-store channels is consistent with broader trends in the food and beverage sector, where internet sales and direct-to-consumer business models are becoming more popular. This transition is probably being caused by ease, a large variety of product options, and the availability of things everywhere.

Potato milk, a more recent option on the market for plant-based milk, has a number of health advantages. Essential nutrients like vitamins, minerals, and antioxidants are abundant in potato milk. These promote a number of body processes, including immune system health and skin care, and contribute to general well-being. People who are lactose intolerant or allergic to dairy can substitute potato milk. It offers a dairy-free substitute for individuals who want to stay away from animal products.

According to European Commission in February 2022, in just the last two years, sales of plant-based foods in Europe have surged by a staggering 49% which includes potato milk this surge is anticipated propel the growth of the market. Moreover, some people discover that potato milk is easier to digest than regular dairy milk. For anyone with digestive problems or intolerances to other plant-based milks, it may be a good alternative. Since potato milk typically contains little saturated fat, it is a heart-healthy option. Saturated fat-free diets are linked to a lower risk of cardiovascular illnesses. Calcium and vitamin D, which are necessary for keeping strong and healthy bones, may be present in potato milk.

The advent of substitute milk products has made potato milk's obstacles more difficult to overcome in the market. Potato milk's growth and market share are impacted by competition from diverse plant-based milk substitutes. The shifting consumer preferences for substitutes like almond, soy, and oat milk, which have become more popular, are evidence of this.

Additionally, depending on the location, the potato milk market could have diverse effects. Due to the fact that alternative plant-based milk products enjoy a sizable market share in the region, Europe, with its growing food processing industry, may experience a particular influence on the potato milk market. In order to survive in this competitive environment, it is critical for stakeholders in the potato milk sector to innovate and plan strategically.

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Potato Milk Market. The top 10 companies in this industry are listed below:

1. Dug 

2. The Simple Root

3. Avebe

4. General Mills, Inc

5. DariFree

6. NutriSoy

7. Betty Crocker

8. Organic Valley

9. Don Don Donki

10. Serenity Kids