Asia to Lead the Global Plant-Based Milk Market by 2024

According to a Statista Market Insight report, Asia is the region with the highest global revenue for plant-based milk. This region is projected to generate US$14.3 billion in 2024.

Statista states that this achievement is largely driven by the plant-based milk market in China, which is estimated to reach US$9.9 billion last year. The next largest contributors are Japan (US$2.1 billion), South Korea (US$0.4 billion), and India (US$0.4 billion).

"North America lags far behind, with the United States as the region's main market (US$3.9 billion)," Statista wrote in its report on Friday, August 22, 2025.

Europe follows with an estimated revenue of US$4.6 billion, the United States with US$0.8 billion, and Africa with US$0.2 billion.

According to Statista analysts, the market for alternative milk substitutes will grow in the coming years, with estimated global revenue reaching US$41 billion by 2030. Asia is predicted to remain the main market due to its large population.

"Europe and North America will experience sharper growth in per capita income, as the popularity of milk substitutes increases in both regions," Statista wrote.