Entire Plant-Based Dairy Market Is Expected To Reach US $ 32 Billion By The End Of 2031

Food and beverages

The global plant-based dairy market is projected to grow profitably during the forecast period. Plant-based dairy products are in the midst of a COVID-19 pandemic because they offer many health benefits, thereby boosting the human immune system. In addition, initiatives taken by governments and other organizations to promote the consumption of plant-based protein products have also contributed significantly to market growth. For example, the Government of Canada has launched the Protein Industries Canada (PIC) Supercluster to grow its plant-based food and beverage business in Canada. In this project, the Government of Canada is investing in a variety of plant-based businesses. Separately, global animal rights groups, such as People for the Ethical Treatment of Animals (PETA), are promoting the consumption of plant-based foods and beverages by conducting various awareness-raising events and campaigns. I am promoting it.

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According to a recent report published by Fact.MR The global plant-based dairy market will grow at a CAGR of 11.5%, accounting for US $ 32 billion by the end of the forecast period (2020-2030).

Key Points from the Plant-Based Dairy Market Research

The global plant-based dairy market is expected to grow at a CAGR of 8% in terms of quantity.
Plant-based dairy products are projected to hold the largest share in value and create an absolute $ 5.7 billion opportunity during the forecast period.
Organic plant-based dairy products are expected to advance at a CAGR of 13% in terms of value and are expected to gain 406 BPS in market share by the end of the forecast period.
For end-use applications, the consumer (B2C) segment is expected by the enterprise to have a majority share in value, creating an absolute $ 14.6 billion $ opportunity during the forecast period.
Retail sales channels are expected to hold a majority value share in the global plant-based dairy market and are expected to be 2.6 times more valuable than direct sales at the end of the forecast period.
North America is expected to lead the market share in terms of value. However, the region is expected to lose 314 BPS from its market share in terms of value by the end of the forecast period.
“In the long run, the outbreak of COVID-19 is expected to drive market growth as it raises awareness of the various health benefits of plant-based dairy products,” Fact.MR analyst said. Says.

Key Segments Covered

Product
- Plant Based Milk (by Protein Source)
  - Almonds
  - Cashews
  - Coconuts
  - Hazelnuts
  - Oats
  - Rice
  - Soy
  - Flax
  - Hemp
  - Macadamia
  - Peanuts
  - Pistachios
  - Quinoa
  - Sesame
  - Others
- Plant Based Frozen Desserts (by Protein Source)
  - Avocados
  - Oats
  - Cashews
  - Soy
  - Almonds
  - Coconuts
- Plant Based Butter (by Form)
  - Sticks
  - Spread
- Plant Based Creamers (by Protein Source)
  - Soy
  - Coconuts
  - Almonds
  - Others
- Plant Based Yogurt (by Protein Source)
  - Oats
  - Cashews
  - Soy
  - Almonds
  - Coconuts
  - Others
- Plant Based Cheese (by Form)
  - Blocks and Wedges
  - Creams, Sauces and Spreads
  - Shredded and Crated
  - Sliced
Nature
- Organic Plant Based Dairy
- Conventional Plant Based Dairy
End Use
- Plant Based Dairy for B2B Consumers
  - Bakery and Confectionary
  - Snacks and Savouries
  - Ready Meals
  - HoReCa
  - Other Food Products
- Plant Based Dairy for B2C Consumers
  - HoReCa
  - Household
Sales Channel
- Plant Based Dairy Sales through Direct Channels
- Plant Based Dairy Sales through Retail Channels
  - Supermarkets and Hypermarkets
  - Convenience Stores
  - Independent Grocery Stores
  - Specialty Stores
  - Online Stores

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

Key manufacturer Danone SA, the French dairy giant made a move into dairy-free by acquiring WhiteWave Foods, the US manufacturer of the Alpro and Silk plant-based dairy-alternative ranges, for US$ 12.5 Bn.
In February 2019, Danone announced it was opening a new building at its facility in DuBois, Pennsylvania, dedicated to plant-based food products including yogurt.
In December 2019, Danone’s French dairy peer Lactalis announced it was taking its Siggi’s yogurt brand into the plant-based market.
In March 2020, Arla announced the launch of a range of chilled, oat-based drinks, to be marketed under a new brand, Jörd, and initially available in Denmark, Sweden and the U.K.