Potato Milk Market Research Report鈥擥lobal Forecast till 2032

Potato Milk Market Research Report Information By Consumer Group (Gen X, Gen Z, Millennials, and Baby Boomers) By Application (Hot Drinks, Smoothies, Bakery & Confectionery, Residential/Retail) By Distribution Channel (Store-Based and Non-Store Based) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) - Forecast Till 2030

ID: MRFR/F-B & N/10605-HCR | 128 Pages | Author: Pradeep Nandi | August 2023         

Global Potato Milk Market Overview


Potato Milk Market Size was valued at 2X times in 2022. exhibiting a compound annual growth rate (CAGR) of 5.2% during the forecast period (2023 - 2032). The growing inclination of consumers towards plant-based milk coupled with the various health benefits associated with its consumption is expected to fuel its market growth during the forecast period.


Potato Milk Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Potato Milk Market Trends



  • The Growing Health Benefits Associated with the Consumption of Potato Milk


The growing health benefits associated with the consumption of potato milk have increased its consumption across various regions which in turn would boost its market growth in the upcoming years. As a part of this, commercial potato milk products have high concentrations of vitamins such as vitamin A, vitamin B12, vitamin C, vitamin D, vitamin E, and vitamin K. In potato milk, calcium and iron are minerals that are present in moderate concentrations.


Besides this, the large pool of people suffering from lactose intolerance has increased the demand for potato milk as it is an excellent option for people with a range of dietary allergies and intolerances because it is devoid of lactose, soy, milk, gluten, and nuts. Most persons with lactose intolerance, approximately 70% to 100% of the population, are people of East Asian descent, according to the NIH. According to a recent study, the illness also affects between 75 and 90 percent of Native Americans, Black people, Asians, Mediterranean people, and Jews. Approximately 5% of people in Northern and Central Europe are lactose intolerant.


Furthermore, the large pool of people suffering from cardiovascular disease coupled with the increased benefits associated with the consumption of potato milk, the monounsaturated lipids in potato milk are largely heart healthy. Additionally, they have less saturated fats than cow's milk, which is thought to be less healthy for hearts because it contains more of them. For instance, according to the Centers for Disease Control and Prevention, the most prevalent kind of heart disease, coronary heart disease, will claim 375,476 lives in 2021. Approximately 5% of persons aged 20 and older have CAD. About 2 in 10 deaths from CAD in persons younger than 65 will occur in 2021.


Potato Milk Market Segment Insights


Potato Milk Consumer Group Insights


The Potato Milk Market segmentation, based on consumer group, includes gen x, gen z, millennials, and baby boomers. The Gen Z segment held the majority share in 2022 and is expected to be the fastest-growing segment during the forecast period. This is mainly owing to the increased Gen Z inclination towards potato milk food which in turn is contributing to its segmental growth. According to a Barclays study, Generation Z is ingesting 550% more plant-based milk than prior generations. Generation X, those born between the mid-1960s and the mid-1970s, are contrasted with this. Born between 1996 and 2005, Generation Z is the post-millennial generation, and it appears that their choice for non-dairy over cow's milk may have something to do with their desire to be healthy. In addition to this finding, the study also discovered that, even in comparison to millennials, Generation Zen z are spending more time at the gym and less time in bars.


September 2023: The Swedish business Veg of Lund provides dairy-free options including milk beverages and smoothies. Additionally, it is creating meat substitutes. Products made by Veg of Lund are marketed under the name DUG. The company is swiftly launching its main product, the milk substitute DUG Potato drink, which was first offered in Sweden, and in several other nations.


Potato Milk Application Insights


The Potato Milk Market segmentation, based on application, includes hot drinks, smoothies, bakery, confectionery, and residential/retail. The hot drinks segment held the majority share in 2022 concerning the Potato Milk Market revenue. This is mainly owing to the increasing consumption of hot drinks such as tea and coffee across the globe. For instance, according to private consumer polling conducted by the National Coffee Association (NCA), coffee consumption in the United States has increased to a two-decade high as people brew up new post-COVID routines. More Americans than any other beverage, including tap water, now consume coffee every day (66%), the highest percentage since NCA started keeping track of data. Since January 2021, coffee consumption has increased by over 14%. Americans' coffee consumption outside the home has climbed by 8% since January 2021, according to the Dig Insights/NCA Spring 2022 National Coffee Data Trends (NCDT) report. Coffee consumption at home is still higher than it was before the outbreak. Currently, 84% of coffee users had coffee at home the day before, up from 80% in January 2020. Since the beginning of the pandemic, the consumption of espresso-based beverages, which are frequently prepared away from home, has increased by 30%, indicating both recovery from the COVID-19 pandemic and new growth.


Potato Milk Distribution Channel Insights


The Potato Milk Market segmentation, based on distribution channels, includes stored-based and non-store-based. The store-based segment dominated the Potato Milk Market revenue during the forecast period owing to increased consumer preference to purchase through stores as well as the wide availability of the products, which in turn would contribute to its segmental growth. As a part of this, in February 2022, The Swedish potato milk company Dug increased its market share in the UK, with the addition of three dairy substitutes in Waitrose. Following an online debut with the retailer, its Barista, Original, and Unsweetened potato milk will roll out to 220 locations. The product also includes chicory fibre and pea protein, and according to the manufacturer, it is the first plant-based dairy substitute fortified with folic acid, with 15% of the daily necessary amount. Additionally included are calcium, vitamin D, riboflavin, and vitamin B12.


Figure 2: Potato Milk Market, by Distribution Channel, 2022 & 2030 (USD Billion)


Potato Milk Market, by Distribution Channel, 2022 & 2030


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Potato Milk Regional Insights


By Region, the market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World. Europe is expected to hold the largest share of the Potato Milk Market during the forecast period, owing to the presence of major players across the region providing potato milk. For instance, Veg of Lund a Swedish company under its brand DUG was founded on the findings of Professor Eva Tornberg's research at Lund University. It's where it created its proprietary emulsion technique. Currently, stores in Sweden, Ireland, and the UK sell plant-based beverages. Veg of Lund is the owner of the DUG brand. DUG Original is a consistently delicious plant-based beverage that consumers can enjoy with their morning coffee or tea, cereal, or by glass. Additionally, it is excellent for baking and cooking. DUG Original won't separate no matter how an individual uses it due to its distinct potato and rapeseed emulsion. DUG Original is loaded with vitamins, minerals, fibre, protein, and carbohydrates because potatoes are used in their production. It is therefore a perfect substitute for other milk products. Further, the Potato Milk Market in the UK held the largest market share, and the Germany Potato Milk market was the fastest-growing market in the Asia-Pacific region.


Further, the major countries studied are The U.S., Mexico, Canada, UK, Germany, Italy, France, Spain, China, Japan, India, Australia & New Zealand, and Brazil.


Figure 3: POTATO MILK MARKET SHARE BY REGION 2030 (%)


POTATO MILK MARKET SHARE BY REGION 2030


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Asia-Pacific Potato Milk market accounts for the second-largest market share in 2022. This is mainly owing to the presence of a vegan population across the Asia-Pacific. In India, the demand for vegan food has been steadily growing. People have started to embrace veganism in their daily lives as well as come to respect the idea over the past several years. The world's lowest meat consumption rate is seen in India, where 44% of the 1.3 billion people are Hindus, according to UN FAO research. In India, there will be over 500 million vegetarians by the year 2020, and just 1% of them will be strict vegans. Therefore, there are about five million vegans in India overall. Further, the India Potato Milk market held the largest market share, and the China Potato Milk market was the fastest-growing market in the Asia-Pacific region.


The North Potato Milk Market is expected to grow at a CAGR of 3.2% from 2023 to 2030. This is mainly owing to the wide purchase of consumers of plant-based milk owing to the various health benefits associated with its consumption, which in turn would create huge opportunities for the potato milk market in the upcoming years. For instance, according to Good Food Institute, a significant segment of the milk market in the United States, representing 15% of total dollar sales of milk, is plant-based milk. Plant-based milk showed considerable dollar sales growth in 2022, while unit sales marginally decreased, indicating higher average pricing per unit, consistent with retail trends. In addition, spending on plant-based milk is more likely to be increased in households with young children and households with higher incomes. These demographic data apply to 2021 and 2022 equally. Moreover, the US Potato Milk market held the largest market share, and the Canada Potato Milk market was the fastest-growing market in the Europe region.


Potato Milk Key Market Players & Competitive Insights


Major market participants are spending a lot of money on R&D to increase the range of their products, which will drive the Potato Milk market's future expansion. Market participants are also launching new goods, concluding contracts, purchasing companies, raising funds, and collaborating with other organizations to increase their global reach. To grow and survive in a more cutthroat and competitive market climate, Potato Milk business competitors must provide affordable products.


One of the primary business strategies adopted by manufacturers in the global Potato Milk industry to benefit clients and expand the Potato Milk market sector is to manufacture locally to reduce operating costs. In recent years, Potato Milk has provided enormous benefits to its consumers.


Key Companies in the Potato Milk market include.



  • Veg of Lund

  • Company 2

  • Company 3

  • Company 4

  • Company 5

  • Company 6

  • Company 7

  • Company 8

  • Company 9

  • Company 10


Potato Milk Industry Developments


July 2023:  Haofood Shanghai Food Technology Co., Ltd. and Veg of Lund has been signed a letter of intent ("LOI"). During the first quarter of 2024, the businesses will collaborate with the aim of marketing, selling, and distributing Veg of Lund products in China and a few other countries in the region under the DUG brand.


Potato Milk Market Segmentation


Potato Milk Consumer Group Outlook



  • Gen X

  • Gen Z

  • Millennials

  • Baby Boomers


Potato Milk Application Outlook



  • Hot Drinks

    • Tea

    • Coffee



  • Smoothies

  • Bakery & Confectionery

  • Residential/Retail


Potato Milk Distribution Channel Outlook



  • Store-Based

  • Non-Store Based


Potato Milk Regional Outlook



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia & New Zealand

    • Rest of Asia-Pacific



  • Rest of the World

    • South America

    • Middle East

    • Africa





Report Scope:

Report Attribute/Metric Details
Market Size 2022 2X times
Market Size 2023 3X Times
Compound Annual Growth Rate (CAGR) 5.2% (2023-2032)
Base Year 2022
Forecast Period 2023-2032
Historical Data 聽2018-2022
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Consumer Group, Application, Distribution Channel, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S., Canada, Mexico, Germany, France, the UK, Italy, Spain, the Rest of Europe, China, Japan, India, Australia & New Zealand, the Rest of Asia Pacific, South America, the Middle East, and Africa.
Key Companies Profiled Veg of Lund, Company 2, Company 3, Company 4, Company 5, Company 6, Company 7, Company 8, Company 9, and Company 10.
Key Market Opportunities 路聽聽聽聽聽聽 Growing Expansion Policies Adopted by Key Players
Key Market Dynamics 路聽聽聽聽聽聽 The Growing Vegan Population 路聽聽聽聽聽聽 The Growing Health Benefits Associated with the Consumption of Potato Milk


Frequently Asked Questions (FAQ) :

The Potato Milk market was valued at 2X times in 2022 and is expected to grow at a CAGR of 5.2% during 2023-2030.

Europe Potato Milk Market valued at 5X times in 2030.

The growth rate of the Potato Milk Market is 5.2% during the forecast period 2023-2032.

Europe held the largest market share in the Potato Milk Market in 2022.

The key players in the Potato Milk Market are Veg of Lund, Company 2, Company 3, Company 4, Company 5, Company 6, Company 7, Company 8, Company 9, and Company 10.

The gen z segment held the highest market share in the Potato Milk Market in 2022.

The store-based segment held the largest market share in the Potato Milk market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players鈥 financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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