The Reports and Insights, a leading market research company, has recently releases report titled “Plant Based Dairy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Plant Based Dairy Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Plant Based Dairy market?
The global plant based dairy market was US$ 12.1 Billion in 2022. Furthermore, the global plant based dairy market to register revenue CAGR of 9.2% over the forecast period and account for market size of US$ 26.7 Billion in 2031.
What is Plant Based Dairy?
Plant-based dairy products are the products that are derived from plants like almond, soy, coconut, oats, and cashews, offer a range of options that improve the taste and texture of traditional dairy products. The variety of plant-based dairy products available is extensive, including plant milk, cheese, yogurt, and ice cream. The benefits of plant-based dairy, including its lower environmental impact as they require fewer resources, generates fewer greenhouse gas emissions, and contributes less to deforestation compared to conventional dairy farming.
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What are the growth prospects and trends in the Plant Based Dairy industry?
The Plant Based Dairy market growth is driven by several trends and factors. Firstly, the innovation in plant-based products, including cheese, milk, yogurt, and ice cream, improving the taste, texture, and nutritional profile, making them more appealing to a broader consumer base. Secondly, the wider availability of plant-based dairy products in grocery stores and foodservice establishments, making them more accessible to consumers as they become more health-conscious about cholesterol, lactose intolerance, and other health issues. Moreover, the desire to avoid animal products and support ethical and humane treatment of animals is leading many consumers to choose plant-based dairy alternatives. Furthermore, the environmental impact of traditional dairy farming, including greenhouse gas emissions and land use lead to increased interest in plant-based alternatives as a more sustainable option. Overall, plant-based dairy market growth is driving due to the factors such as innovation in plant-based products, availability in grocery stores, avoidance of animal products and concerns related to the environment, health, and animal welfare.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Product Type:
- Plant-Based Milk
- Plant-Based Yogurt
- Plant-Based Cheese
- Plant-Based Butter
- Plant-Based Ice Cream
By Packaging Type:
- North America
- Latin America
- Middle East
Who are the key players operating in the industry?
The report covers the major market players including:
- Danone (Dairy Division)
- Kraft Heinz Company
- Califia Farms
- Daiya Foods (A Subsidiary of Otsuka Pharmaceutical)
- Blue Diamond Growers (Almond Breeze)
- Silk (A Danone North America Brand)
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