As an important part of the plant-based food industry, the development level of plant-based milk products played a pivotal role in promoting the plant-based food industry. This study analyzed the global market size and of plant-based milk products and the market situation of plant-based milk products in China. In 2023, the global market size of plant-based milk products had reached $29.6 billion and grew rapidly by 11.4%, while there were many types of liquid beverages in China's plant-based dairy products, including soy milk, coconut milk, walnut milk, almond milk, etc., which were all showing a trend of stable growth. However, the market for powder-based products was relatively stable, reaching 300000 t. In the future, the development of plant-based milk products should to be further defined to fully reflect the characteristics and attribute requirements of the products. At the same time, efforts should be made to develop new technologies and products that meet new consumption scenarios and channels, to address key issues such as taste, price, and clean labeling that consumers were concerned about plant-based milk, to accelerate the maturity and implementation of plant-based yogurt, and cold drinks, etc., and to empower the value and market competitiveness of plant-based milk by developing products that meet different consumption scenarios, special nutrition, and health needs. Thus, a diversified new model for the development of the plant-based milk industry could be established.