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Report Overview

The global peanut milk market size reached around USD 291.41 Million in 2024. The market is projected to grow at a CAGR of 7.90% between 2025 and 2034 to reach nearly USD 623.33 Million by 2034.The market growth can be attributed to the rising demand for plant-based milk in Europe and Latin America and rising consumer purchasing power. Besides, the growing adoption of innovative marketing strategies and focus on meeting ESG goals is also influencing the market dynamics favourably.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

  • Peanut milk is a dairy-free and nutrient-rich beverage that is preferred by fitness enthusiasts and consumers with dietary restrictions. Around 42% of American consumers prefer plant-based foods for improving their health. The growing preference for plant-based products is creating exciting market opportunities for peanut milk-producing companies and prompting them to introduce new and authentic products in innovative flavours.
  • Peanut milk is renowned for its rich and nutty taste, which appeals to flavour-focused consumers and creates lucrative opportunities for market differentiation. As per industry reports, around 36% of US consumers purchase dairy alternatives due to their unique flavour.
  • Private-label plant-based milk in Germany is 13% cheaper than conventional private-label milk, which contributes to the peanut milk market development. Lower prices have encouraged consumers to purchase plant-based milk products, including peanut milk, more frequently, hence private-label companies are expanding their product offerings with innovative products.

Compound Annual Growth Rate

Value in USD Million

7.9%

2025-2034


Peanut Milk Market Outlook

*this image is indicative*

Global Peanut Milk Market Report Summary Description Value
Base Year USD Million 2024
Historical Period USD Million 2018-2024
Forecast Period USD Million 2025-2034
Market Size 2024 USD Million 291.41
Market Size 2034 USD Million 623.33
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 7.90%
CAGR 2025-2034 - Market by Region Asia Pacific 8.8%
CAGR 2025-2034 - Market by Country India 9.0%
CAGR 2025-2034 - Market by Country Brazil 8.9%
CAGR 2025-2034 - Market by Nature Organic 9.3%
CAGR 2025-2034 - Market by Packaging Type Aseptic Carton 8.4%
Market Share by Country 2024 Australia 1.8%

Global Peanut Milk Market Growth

The increasing consumer demand for nutritious dairy alternatives that do not compromise on taste is fuelling the market growth. For instance, the United States witnessed an 11% growth in consumption of dairy alternatives during 2021-22, which was a year-on-year growth from 6%. More than half of the nation's population consumes dairy alternatives. Based on consumer analysis, around 45% of the population plans to increase their consumption of dairy alternatives, thereby favouring the peanut milk market dynamics.

The demand for plant-based items has increased steadily in Europe, with plant-based beverages accounting for a significant market share. Reportedly, France recorded EUR 211 million worth of sales of plant-based milk and other beverages, thereby recording a year-on-year growth of 2.6% y-o-y in 2022-23. Over the forecast period, the peanut milk market development is expected to be driven by rising consumer consciousness regarding animal and plant welfare. Besides, the increasing health awareness is also expected to increase the sale of plant-based milk in the upcoming years.

Key Trends and Developments

Global Peanut Milk Market Trends

Focus on developing allergen-free items

Various consumer studies report a rising incidence of food allergies that can be attributed to product contamination and the use of unsuitable dairy ingredients. This has prompted consumers to actively seek out nut-based food products that do not contain lactose or soy, are produced in a safe environment, and are labelled clearly for any allergens. This is enhancing consumer trust in dairy-alternative products, positively shaping the peanut milk market dynamics.

Growing demand for plant-based milk in Brazil

In 2022, the sale of plant-based milk reached ZAR 612 million, which was a year-on-year growth of 15% from 2021. Furthermore, in 2023, total sales reached ZAR 673 million, recording a year-on-year growth of 9.5%. The sustained increase in the demand for plant-based products is expected to facilitate the peanut milk market expansion in the coming years favourably.

Global Peanut Milk Industry Segmentation

The EMR’s report titled “Global Peanut Milk Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Nature

  • Organic
  • Conventional

Breakup by Packaging Type

  • Bottles
  • Aseptic Carton

Breakup by Application

  • Food Processing Industry
  • Bakery and Confectionery
  • Beverages
  • Protein Bars and Supplements
  • Others

Breakup by Distribution Channel

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Online Channel
  • Others

Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
CAGR 2025-2034 - Market by Country
India 9.0%
Brazil 8.9%
China 8.6%
Canada 8.2%
Australia 7.5%
USA XX%
UK 7.5%
Germany XX%
Italy XX%
Japan XX%
Saudi Arabia XX%
Mexico XX%
France 7.4%

Global Peanut Milk Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2025-2034, the market for peanut milk in the Asia Pacific and North America is expected to grow at a CAGR of 8.8% and 7.6%, respectively. The growth of the peanut milk market in these regions can be attributed to the growing adoption of vegan diets by consumers and rising awareness regarding lactose intolerance among dairy producers.

Based on nature, the market is categorised into conventional and organic. The industry analysis suggests that the demand for organic peanut milk is estimated to increase at a CAGR of 9.3% during the forecast period of 2025-2034 due to its rich and creamy texture and its minimal harmful effects on the environment.

Leading Companies in the Global Peanut Milk Market

Major players are capitalising on the consumer shift towards veganism and expanding their plant-based beverage production capacities. They are also expanding their market reach in regions like the Asia Pacific and Latin America by adopting health-focused marketing campaigns and strengthening their partnerships with local retailers. This is expected to increase the peanut milk market revenue in the coming years.

RITA Food & Drink Co.,Ltd.

RITA Food & Drink Co.,Ltd. was founded in 2004 and is headquartered in Di An, Vietnam. It specialises in manufacturing energy drinks, soya and peanut milk, fruit juices, and other canned beverages.

ShanTou YiLi Foods Co., Ltd.

ShanTou YiLi Foods Co., Ltd. was founded in 1993 and is headquartered in Guangdong, China. It is one...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the market reached an approximate value of USD 291.41 Million.

The market is projected to grow at a CAGR of 7.90% between 2025 and 2034.

The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 623.33 Million by 2034.

The different regions considered in the market report include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The different types of packaging for peanut milk are bottles and aseptic cartons.

The different applications of peanut milk are food processing industry, bakery and confectionery, beverages, and protein bars and supplements, among others.

The different distribution channels for peanut milk are hypermarkets/supermarkets, convenience stores, and online channel, among others.

Key players in the market are RITA Food & Drink Co.,Ltd. and ShanTou YiLi Foods Co., Ltd., among others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Nature
  • Packaging Type
  • Application
  • Distribution Channel
  • Region
Breakup by Nature
  • Organic
  • Conventional
Breakup by Packaging Type
  • Bottles
  • Aseptic Carton
Breakup by Application
  • Food Processing Industry
  • Bakery and Confectionery
  • Beverages
  • Protein Bars and Supplements
  • Others
Breakup by Distribution Channel
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Online Channel
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • RITA Food & Drink Co.,Ltd.
  • ShanTou YiLi Foods Co., Ltd.
  • Others

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