Global Plant-based Dairy Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-2030
The Global Plant-based Dairy Market size is estimated to grow at a CAGR of around 9.1% during the forecast period, i.e., 2024-30.
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Global Plant-based Dairy Market Dynamics: 2024-2030
Global Plant-based Dairy Market Opportunity:
Shifting Consumer Inclination Towards Veganism to open New Avenues – Veganism has seen an enormous rise in adoption in recent years, with more and more people adopting a vegan lifestyle. The rising health concerns, climate change, sustainability issues, animal welfare, etc., are the most prominent reasons influencing individuals to opt for minimal animal-derived products.
The increasing vegan population across the globe has surged the demand for dairy alternatives. As more people adopt vegan or plant-based diets for ethical, environmental, and health reasons, there is a growing demand for dairy alternatives, which is expected to create immense opportunities for the Plant-based Dairy Market in the future years.
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Global Plant-based Dairy Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
By Product Type- Market Size & Forecast 2019-2030, USD Million
-Plant-based Milk
-Soy Drinks
-Almond
-Coconut
-Oat
-Rice
-Others (Blends, etc.)
-Plant-based Yoghurt
-Plant-based Cheese
-Others
The Plant-based Milk segment is expected to hold a considerable share of the Global Plant-based Dairy Market in the forecast period,
By End Users- Market Size & Forecast 2019-2030, USD Million
-B2B
-HoReCa
-Snacks & Savoury
-Bakery & Confectionary
-Food Service
-HoReCa
-Retail Users
By Sales Channel- Market Size & Forecast 2019-2030, USD Million
-Supermarkets
-Hypermarkets
-Local Grocery Stores
-Online
-Others
By Ingredients- Market Size & Forecast 2019-2030, USD Million
-Plant-based Acidulants
-Plant-based Botanicals
-Plant-based Carotenoids
-Vegetable Oils
-Polysaccharides & Oligosaccharides
-Plant-based Sweeteners
-Other Commodities (Water, Cereals, Juices, etc.)
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
North America is expected to hold a significant market share in the Plant-based Dairy Market share in the forecast period owing to the increasing number of lactose intolerant population coupled with the rising health awareness among individuals.
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Top Companies Operating in the Global Plant-based Dairy Market:
Danone, Groupe, Hebei Yangyuan Zhihui Beverage Co Ltd, Cereal Base CEBA AB, Coconut Palm Group Co Ltd, Blue Diamond Growers, Vitasoy International Holdings Ltd, Wanxiang Sannong Co Ltd, The Coca-Cola Co., Fujian Dali Food Co Ltd, Kikkoman Corp, Lactasoy Co Ltd, Califia Farms LP, Green Spot Co Ltd, Dr Chung’s Food Co Ltd, Marusanai Co Ltd, Others.
Industry Recent Development:
- 2023: Blue Diamond Growers, launched Almond Breeze Extra Creamy Almond milk with 80 calories per serving and has low saturated fats with high vitamin D and E content.
- 2022: Vitasoy International Holdings Ltd., launched a Plant-basedmilk range with almond and oat milk varieties with zero cholesterol, low sugar, and high calcium.
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