Plant-based dairy sales are expected to reach US$ 34.9 billion by the end of 2033, up from an estimated market value of US$ 12.4 billion in 2023. This enormous increase is the outcome of the global market for plant-based dairy products, which is anticipated to experience significant growth at a CAGR of 10.9% during the following ten years.
The popularity of veganism has grown significantly in recent years, and it is projected that this trend will have a major impact on the demand for plant-based dairy products in the future. In the upcoming years, market growth is expected to be aided by the rising prevalence of lactose intolerance among adults and the rising number of newborns with allergies to dairy products.
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The readability score of the Plant-based Dairy Demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.
The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.
This Plant-based Dairy outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Silage Covers along with key stakeholders as well as emerging players associated with the manufacturing of product.
Competitive Landscape:
Leading plant-based dairy suppliers are raising capital and increasing their investments in the research and development of new technologies to maximize their growth potential.
- In December 2022, NotCo, a food technology company announced that it has raised US$ 70 million in a Series D1 funding round. The funding is expected to be used to promote innovation from other CPG brands by the use of NotCo’s patented AI technology called Giuseppe to accelerate development in the plant-based product industry.
Plant-based dairy brands are focusing on expanding their sales and revenue generation by launching novel products all over the world to meet increasing demand.
- In November 2022, The Planting Hope Company, a start-up founded in 2020 that develops and launches innovative plant-based beverages announced the launch of Hope and Sesame’s Sesame milk for Canadian consumers. The product was made available in several grocery stores and on Amazon’s Canada website as well.
- In July 2022, Danone, a French food company announced the launch of the world’s first Dairy and Plants Blend baby formula. The company launched this product in response to parents’ demand for flexitarian and vegetarian options for their toddlers.
Key Companies Profiled:
- Arla Foods
- Daiya Foods Inc.
- Danone S.A.
- General Mills
- Saputo
- Chobani
- Earth’s Own Food Company Inc.
- Unilever
- Bel Group
- Kraft Heinz
Key Segments of Plant-based Dairy Industry Research:
· By 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 Yogurt (By Protein Source)
- Oats
- Cashews
- Soy
- Almonds
- Coconuts
- Others
- Plant-based Cheese (By Form)
- Blocks & Wedges
- Creams, Sauces, & Spreads
- Shredded & Crated
- Sliced
- Plant-based Creamers (By Protein Source)
- Soy
- Coconuts
- Almonds
- Others
- Plant-based Butter (By Form)
- Sticks
- Spread
· By Nature :
- Organic
- Conventional
· By End Use :
- B2B Consumers
- Bakery & Confectionery
- Snacks & Savouries
- Ready Meals
- HoReCa
- Other Food Products
- B2C Consumers
- Households
- HoReCa
· By Sales Channel :
- Retail Channels
- Hypermarkets & Supermarkets
- Convenience Stores
- Independent Grocery Stores
- Specialty Stores
- Online Retailers
- Direct Channels
· By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Questionnaire answered in the Market outlook Report of Plant-based Dairy include:
- What is the key strategy deployed by large players to maximize Plant-based Dairy growth?
- What are the main challenges faced by players in the Plant-based Dairy Demand?
- With the advent of technological advancement, how will the Plant-based Dairy landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Plant-based Dairy size?
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