Plant-based Dairy Market Research Report: Forecast (2024-2030)
The Global Plant-based Dairy Market size is estimated to grow at a CAGR of around 9.1% during the forecast period, i.e., 2024-30. The market growth is attributed to the rising lactose intolerance among individuals. Lactose intolerance affects a substantial portion of the global population across different regions & ethnic groups. The rising lactose intolerance among consumers has led them to avoid dairy products such as milk, cheese, curd, etc., and look for other alternatives.
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Market Dynamics
Global Plant-based Dairy Market Driver: Cholesterol-free & Fat-free Properties to Propel Plant-based Dairy Products’ Demand
The rise in various lifestyle-related diseases, such as obesity, heart disease, diabetes, etc., has reached epidemic proportions in many parts of the world. These health issues, along with the threat of new & emerging diseases have driven people to be more proactive about their health. Moreover, a significant portion of the global population is suffering from one or another disease, driving consumers to adopt healthier lifestyles. For Instance,
In 2022, according to the WHO (World Health Organisation), more than 1 billion people across the globe were obese, and it was estimated that by 2025, approximately 167 million people, including children & adults, will be less healthy due to obesity.
Owing to such rising health concerns, consumers are seeking food options that contain lower amounts of saturated fats and provide more nutrition to maintain a healthy & balanced lifestyle. They are actively looking for food products that are claimed to be cholesterol-free and fat-free. Plant-based dairy products are low in saturated fats and offer cholesterol-free properties leading to their higher consumption which is expected to drive the growth of the Plant-based Dairy Market in the forecast period.
Leading Companies in Plant-based Dairy Market:
Danone, Groupe, Hebei Yangyuan Zhihui Beverage Co Ltd, Cereal Base CEBA AB, Coconut Palm Group Co Ltd, Blue Diamond Growers, Vitasoy International Holdings Ltd, Wanxiang Sannong Co Ltd, The Coca-Cola Co., Fujian Dali Food Co Ltd, Kikkoman Corp, Lactasoy Co Ltd, Califia Farms LP, Green Spot Co Ltd, Dr Chung’s Food Co Ltd, Marusanai Co Ltd, Others.
Segmentation of the Industry
The Plant-based Dairy Market is highly fragmented and bifurcates into the following segmentations:
By Product Type
-Plant-based Milk
–Soy Drinks
–Almond
–Coconut
–Oat
–Rice
–Others (Blends, etc.)
-Plant-based Yoghurt
-Plant-based Cheese
-Others
- The Plant-based Milk segment is expected to hold a considerable share of the Global Plant-based Dairy Market in the forecast period
By End Users
-B2B
–HoReCa
–Snacks & Savoury
–Bakery & Confectionary
-Food Service
–HoReCa
-Retail Users
By Sales Channel
-Supermarkets
-Hypermarkets
-Local Grocery Stores
-Online
-Others
By Ingredients
-Plant-based Acidulants
-Plant-based Botanicals
-Plant-based Carotenoids
-Vegetable Oils
-Polysaccharides & Oligosaccharides
-Plant-based Sweeteners
-Other Commodities (Water, Cereals, Juices, etc.)
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Regional Landscape
On the geographical front, the Plant-based Dairy Market expands across the following:
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
- North America is expected to hold a significant market share in the Plant-based Dairy Market share in the forecast period
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