Argentina Plant Based Milk Market Overview, 2029

Argentina's market for plant-based milk has grown significantly, following worldwide trends towards more sustainable and healthful eating habits. Its debut dates back to the early 2000s, when customers started looking for dairy substitutes because they were concerned about their health. Originally, worries about allergies and lactose intolerance, as well as growing knowledge of the environmental effects of dairy production, were the main drivers of this change. In Argentina, the selection of plant-based milk substitutes increased along with customer demand. Because soybeans are widely grown in the nation and the agriculture industry is robust, soy milk was one of the first substitutes to become popular. This created the groundwork for other plant-based milk variants to hit the market as customer preferences changed, including almond, oat, and coconut milk. Argentina's plant-based milk business has developed over time, with notable advancements in product composition and manufacturing techniques. Businesses have made research and development investments to enhance the nutritional profiles, taste, and texture of these substitutes, increasing their appeal to those who are not restricted by diet. The market for plant-based milk in Argentina is expected to rise further. It is anticipated that continued innovation in product creation and delivery methods, together with shifting customer lifestyles, will spur more growth.

According to the research report "Argentina Plant Based Milk Market Overview, 2027" published by Bonafide Research, it is expected that the Plant Based Milk Market will grow rapidly over the forecast period. The market for plant-based milk in Argentina is expanding significantly due to a number of important factors. Government programmes that encourage plant-based diets and sustainable agriculture are also important in influencing market dynamics and creating a regulatory climate that is favourable to plant-based products. The plant-based milk industry in Argentina is marked by fierce rivalry from both well-established international companies and regional ones in terms of market dynamics. Big international corporations, such as Nestlé and Danone, have added plant-based milk products to their portfolios in an attempt to gain market share by utilising their distribution networks and well-known brands. A varied product landscape is being created at the same time by innovative local manufacturers and entrepreneurs who are creating distinctive formulas catered to local tastes and preferences. The means of distribution have changed dramatically, with supermarkets, health food stores, and online platforms becoming key avenues for reaching consumers.

Based on its origins, plant-based milk is available in a variety of forms, each with unique flavors, textures, and nutritional profiles to suit a range of dietary requirements and customer preferences. Soy milk is one of the oldest and most widely used plant-based milk substitutes in the world. It comes from soybeans and is well-known for having a high protein content and creamy texture, which makes it a top choice for people seeking a dairy-free protein source. Almond milk has a little sweet taste and a nutty, light flavour. It is created from powdered almonds and water. To improve its nutritional value, almond milk is frequently fortified with calcium, vitamin D, and vitamin E. The chopped flesh of fully grown coconuts is used to make coconut milk. It tastes lightly like coconut and has a thick, creamy texture. Compared to other plant-based milks, coconut milk has more calories and fat, but it also has a distinct flavour that complements both savoury and sweet foods. Water is combined with milled white or brown rice to make rice milk. Its flavour is moderate and somewhat sweet, which makes it a good choice for people who are lactose intolerant or allergic to nuts. Soaking oats in water, mixing, and filtering the solids are the steps involved in making oat milk. It tastes like cow's milk—it's somewhat sweet and has a creamy texture. Other plant-based sources that can be used to make plant-based milk include hemp, flaxseed, quinoa, and pea protein. All of these substitutes satisfy varying dietary needs and customer preferences while providing unique tastes and nutritional advantages.

Formulations in the plant-based milk industry may be broadly divided into two categories: plain and flavoured varieties. Plain plant-based milks have a taste that is similar to that of regular dairy milk and are usually unflavored and unsweetened. Ingredients including soy, almond, oat, coconut, rice, or hemp are frequently used to make them. Customers searching for a flexible milk substitute that can be used for baking, cooking, and as a dairy substitute in drinks are drawn to simple formulas. Sweeteners (such cane sugar, agave syrup, or stevia) and artificial or natural flavours (including matcha, chocolate, strawberry, or vanilla) are added to enhance the flavour of plant-based milks. These formulations are intended for consumers who want to add diversity to their drinks and cereal or who are searching for ready-to-drink solutions that approximate flavoured dairy milk. Plant-based milks with flavours are frequently sold as stand-alone drinks that may be consumed cold or heated, as well as in smoothies and desserts. The market for plant-based milk offers both plain and flavoured formulations to accommodate a range of customer preferences, including dietary constraints, health-consciousness, and flavour preferences. As the demand for plant-based dairy substitutes rises, the market is expected to continue rising due to developments in ingredients and formulations.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029



Aspects covered in this report
• Plant-based Milk market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Source
• Soy
• Almond
• Coconut
• Rice
• Oat Milk
• Other Sources (Cashews, Hazelnuts, Others)

By Formulation
• Plain
• Flavored

The approach of the report:

This report consists of a combined approach to primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.