Revenue of milk alternatives worldwide in 2024, by region

In 2024, the Asia Pacific region had the highest revenue value of plant-based milk substitutes in the world, amounting to nearly 9.9 billion U.S. dollars. In Europe, the retail sales value of milk alternatives was approximately 1.67 billion U.S. dollars. 

Global production of traditional milk

The United States (U.S.) is one of the leading producers of traditional cow milk worldwide. In 2024, the U.S. produced approximately 228 billion pounds of milk for human consumption. The production of cow milk in the European Union (EU) has been steadily increasing for as long as the UK was included in the figures. In 2023, it amounted to nearly 144.8 million metric tons stagnating since 2021. In China, the production of cow milk was estimated to be 43.6 million metric tons in 2024. 

The increasing popularity of milk substitutes

That year, total consumption for milk substitutes worldwide increased to a new record high of around 8.06 billion kilograms. The amount of milk substitutes consumed globally has increased since 2019. The Statista Consumer Market Outlook estimates that this trend will continue and by 2029, global consumption of milk substitutes will increase to 10.97 billion kilograms. The generated revenue of the market for milk substitutes was estimated to be around 25.23 billion U.S. dollars.