Global Plant Based Dairy Products Market Share Is Likely To Reach At A CAGR Value Of Around 10.5% By 2028

13-Sep-2022 | Facts and Factors

According to Facts and Factors, the global plant based dairy products market size was worth around USD 11.2 billion in 2021 and is predicted to grow to around USD 31.5 billion by 2028 with a compound annual growth rate (CAGR) of roughly 10.5% between 2022 and 2028.

Global Plant Based Dairy Products Market Size

Request Sample Request Customization Buy Now

Plant based dairy products refer to milk products but the source of milk are plants and not animals which are more acceptable and traditional sources of the beverage. These dairy items form an important part of plant-based eating culture originating from the idea of an ecosystem where all living animals are treated equally. Vegans are people who refrain from consuming any product, clothing, or food which was created through a process involving cruelty against animals. Plant based dairy products are known to have several benefits associated with them. For instance, it is known to curb obesity as these items have a low-calorie count, minimum fat presence, and abundance of naturally created nutrients. As per official studies, people who have incorporated a plant-based diet, have lower body mass index along with a reduced chance of high blood pressure, diabetes, or heart failure. However, there are ongoing debates about the true potential of the products as claimed by scholars. Since there are indications that maybe it is not as beneficial as one may want to believe. For instance, there are concerns over the method of cultivation which involves the use of external agents, does the product really qualify as organic and 100% plant-based. Since the human body since ages has become used to animal-based dairy products, it is recommended to check with a nutritionist before switching to an all-plant-based diet.

Browse the full “Plant Based Dairy Products Market Size, Share, Growth Analysis Report By Product (Milk, Butter, Frozen Desserts, Yogurt, Cheese, and Creamers), By End-User (Business-to-Business (B2B), and Business-to-Consumer (B2C)), By Distribution Channel (Retails, Supermarkets, Local Shops, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/plant-based-dairy-products-market

Covid-19 influenced the global market cap to gain growth momentum owing to the doubts amongst consumers related to animal-based food items. More people were estimated to have pondered over the option to switch to a plant-based diet including dairy products.

The global plant based dairy products market size is projected to grow owing to the reinforcement of ideas like sustainable eating habits, side-effects of animal products, health benefits of plant-based items, and related aspects by nutritionists & healthcare providers. Many studies have shown that animal-based milk or milk products can lead to severe medical conditions. As per a report by the Physicians Committee for Responsible Medicine, studies have shown that milk along with other derived products is one of the top sources of saturated fats found in American diet culture potentially leading to type 2 diabetes and heart conditions, amongst others, and an increased risk of prostate, ovarian, and breast cancer. There is also a high number of people who are lactose intolerant making dairy consumption impossible for this section. As a result, more people, with the help of medical personnel, are shifting toward plant-based diet forms. In a recent survey conducted by the International Food Information Council, 43% of the respondents stated that they are always looking for healthier food substitutes whereas 52% claimed to at least sometimes, whenever possible, choose healthy food items over unhealthy products.

The high price of products may restrict the global market growth while the growing efforts by units against animal cruelty may provide growth opportunities. The global market is projected to face challenges because of an insufficient number of suppliers.

The global plant based dairy products market is segmented based on product, end-user, distribution channel, and region.

By product, the global market segments are milk, butter, frozen desserts, yogurt, cheese, and creamers. Milk leads the segment with almond milk generating a revenue of 344 million in the first three months of 2021, as reported by Statista.

By end-user, the global market segments are business-to-business (B2B), and business-to-consumer (B2C). The global market is currently dominated by the B2C segment because of high dairy consumption in general with an average of 65 kilograms per person in European countries, as of 2020.

Based on distribution channel, the global market is divided into retails, supermarkets, local shops, and others. Supermarkets are leading the segment since they have more options. As per official studies, more than 29.5% of people prefer supermarkets.

North America is projected to lead the global plant based dairy products market driven by a higher number of market players in regions like the US and Canada. Dairy products, in general, have a higher consumer database in these areas and with the efforts of organizations against animal cruelty, more people are made aware of the potential health hazard related to the consumption of animal-derived products. The growing innovations in the production of plant based dairy products may also assist in regional growth. Europe is anticipated to grow significantly whereas Asia-Pacific, led by India is showing signs of a potential market for a high growth rate. In 2019, the Indian market was valued at USD 21 billion.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 11.2 Billion

Projected Market Size in 2028

USD 31.5 Billion

CAGR Growth Rate

10.5% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Chobani, Lactalis, Unilever, Nestle, General Mills, Saputo, The Hain Celestial Group Inc., Axiom Foods Inc., Danone SA., Sahmyook Foods., and Others

Key Segment

By Product, End-User, Distribution Channel, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

The global plant based dairy products market is led by players like Chobani, Lactalis, Unilever, Nestle, General Mills, Saputo, The Hain Celestial Group, Inc., Axiom Foods, Inc., Danone SA., and Sahmyook Foods.

Recent Developments:

  • In February 2022, Nestle announced the launch of a new plant-based version of Milo, a popular ready-to-drink beverage, for the Thailand market. The product will be soy based and combined with Milo's malt-based flavor
  • In October 2021, Kerry launched a toolkit for the production of plant-based dairy alternatives for the food and beverages sector in developing economies.

The global plant based dairy products market is segmented as follows:

By Product

  • Milk
  • Butter
  • Frozen Desserts
  • Yogurt
  • Cheese
  • Creamers

By End-User

  • Business-to-Business (B2B)
  • Business-to-Consumer (B2C)

By Distribution Channel

  • Retails
  • Supermarkets
  • Local Shops
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Aerospace 3D Printing Market Report 2024 – 2032

[212+ Pages Report] According to Facts Factors, the global aerospace 3D printing market size was valued at USD 2.83 billion in 2023 and is predicted to surpass USD 13.20 billion by the end of 2032. The aerospace 3D printing industry is expected to grow by a CAGR of 18.66% between 2024 and 2032. Aer

Published Date : 12-Jul-2024 | | Category : Defense and Security | Pages : 212 | Format : Read more

Inquiry for Buying Request Sample
report img

Plant-Based Spreads Market Report 2024 – 2032

[213+ Pages Report] According to Facts Factors, the global plant-based spreads market size was valued at USD 528.65 million in 2023 and is predicted to surpass USD 893.14 million by the end of 2032. The plant-based spreads industry is expected to grow by a CAGR of 6.00% between 2024 and 2032. Plant

Published Date : 12-Jul-2024 | | Category : Food & Beverages | Pages : 213 | Format : Read more

Inquiry for Buying Request Sample
report img

Auto Insurance Market Report 2024 – 2032

[211+ Pages Report] According to Facts Factors, the global auto insurance market size in terms of revenue was valued at around USD 652.5 billion in 2023 and is expected to reach a value of USD 1,252.3 billion by 2032, growing at a CAGR of roughly 7.51% from 2024 to 2032. The global auto insurance m

Published Date : 11-Jul-2024 | | Category : Automotive | Pages : 211 | Format : Read more

Inquiry for Buying Request Sample
report img

High-flow Nasal Cannula Market Report 2024 – 2032

[212+ Pages Report] According to Facts Factors, the global high-flow nasal cannula market size in terms of revenue was valued at around USD 7.24 billion in 2023 and is expected to reach a value of USD 20.12 billion by 2032, growing at a CAGR of roughly 12.03% from 2024 to 2032. The global high-flow

Published Date : 11-Jul-2024 | | Category : Healthcare | Pages : 212 | Format : Read more

Inquiry for Buying Request Sample
report img

Electric Vehicle Charging Station Market Report 2024 – 2032

[213+ Pages Report]According to Facts Factors, the global electric vehicle charging station market size in terms of revenue was valued at around USD 28.37 billion in 2023 and is expected to reach a value of USD 310.69 billion by 2032, growing at a CAGR of roughly 30.47% from 2024 to 2032. The globa

Published Date : 11-Jul-2024 | | Category : Automotive | Pages : 213 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration