Revenue of the milk substitutes industry in the Nordics 2019-2029

Published by M. Ridder, Dec 12, 2024
The revenue in the 'Milk Substitutes' segment of the food market in Nordics was forecast to continuously increase between 2024 and 2029 by in total 264.9 million U.S. dollars (+94.81 percent). After the tenth consecutive increasing year, the revenue is estimated to reach 544.26 million U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the 'Milk Substitutes' segment of the food market was continuously increasing over the past years.

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Revenue of the milk substitutes industry in the Nordics from 2019 to 2029 (in million U.S. dollars)

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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:

Milk substitutes refer to any type of milk not derived from animals. The Milk Substitutes market covers all types of plant-based milk such as soya, almond, oat, rice, coconut, spelt, and other. “Other” includes hazelnut, soya/rice blend, buckwheat, cashew, pea, millet, lupine, hemp, quinoa, flax seed, grain, etc.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram). The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption, out-of-home consumption is not included.

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