The plant based dairy market revenue totalled US$ 11 Bn for 2020, according to Fact.MR- a market research and competitive intelligence provider. The overall plant based dairy market is expected to reach US$ 32 Bn by 2031 end, growing at a CAGR of around 11%. The demand for plant based dairy product will accelerate with top 5 providers holding 65% of plant based dairy market in 2021.
Developed regions such as North America and Europe will dominate the global plant-based dairy market share, with a combined figure of 53% in 2021. The importance of plant based dairy was further highlighted with the onset of COVID-19, as consumers increasingly shifted towards consumption of non-animal based food products.
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Key Takeaways from the Market Study:
- The global plant based dairy market is anticipated to add almost 3x value by 2031
- Almond milk remained the top selling category in 2020, clocking a value of US$ 6.5 Bn
- 2 out of 5 sales of plant based dairy products occur via online retail platforms
- By nature, organic plant based dairy products sales to surge at 13% CAGR
- Sales across the U.S market to compound at a CAGR of over 10% until 2031
- Organic dairy sales in China topped US$ 1 Bn in 2020, forecast to expand at nearly 14% CAGR
“Cheese alternatives are predicted to be the “next frontier” in plant-based innovation, advancements in ingredient technology are estimated to fire dairy-alternatives market,” comments a Fact.MR analyst
Competitive Landscape
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.
- In 2016, 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$ 12.5Bn.
- 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 UK.
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Key Companies Profiled :
- Danone SA.
- Lactalis
- Arla Foods
- Chobani
- General Mills
- Saputo
- Unilever
- Kraft Heinz
- Nestle
- Bel Group
- Muller
- The Hain Celestial Group, Inc.
- Sahmyook Foods.
- Sanitarium Health and Wellbeing Company. …
- Axiom Foods, Inc.
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
- Plant Based Milk (by Protein Source)
- Nature
- Organic Plant Based Dairy
- Conventional Plant Based Dairy
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Questionnaire answered in the Plant-based Dairy Market report include:
- How the market for Plant-based Dairy has grown?
- What is the present and future outlook of the global Plant-based Dairy on the basis of region?
- What are the challenges and opportunities for the Plant-based Dairy?
- Why the consumption of Plant-based Dairy highest in region?
- In which year segment is expected to overtake segment?
What makes Fact.MR report stand out from others?
- MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Plant-based Dairy market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Plant-based Dairy market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Plant-based Dairy market and assists to create strategies to overcome the obstacles that may hinder the growth of the Plant-based Dairy market.
- Leverage: The Plant-based Dairy market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Plant-based Dairy market.
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