With 11% CAGR, Global Plant Based Dairy Market Is Expected To Reach US$ 32 Bn by 2031| Fact.MR

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
  • 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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