- Plant-Based Milk
- Soy Drinks
- Almond
- Coconut
- Oat
- Rice
- Others (Blends, Etc.)
- Plant-Based Yoghurt
- Plant-Based Cheese
- Other
Plant Based Dairy Market was valued at USD 13,928.2 billion in 2023 and is poised to grow at a CAGR of 11.2% from 2024 to 2030. The plant-based dairy market growth is driven by various factors shifting consumer preferences, rising veganism, and product innovation. Consumers are increasingly opting for healthier and more sustainable food choices. Plant-based dairy products are perceived as healthier due to lower saturated fat content and being cholesterol-free. They also align with concerns about animal welfare and environmental impact. A significant portion of the population struggles with lactose intolerance, while dairy allergies are becoming more prevalent. Plant-based dairy offers a solution for these individuals.
Veganism is a growing trend, and plant-based dairy products are essential for those following a vegan diet. Continuous innovation in the plant-based dairy sector is leading to products with improved taste, texture, and functionality, making them more comparable to traditional dairy products. However, the constraints will hinder the market growth and need to be addressed for the market growth plant-based dairy alternatives are often priced higher than traditional dairy products, which can be a barrier for some consumers. While accessibility is improving, plant-based dairy options may not be readily available in all regions or stores.
Plant Based Dairy Market Key Developments:
- In December 2023, Hyderabad-based superfood maker Nourish You acquired 100% of Bangalore-based plant-based dairy startup One Good. This deal represents the largest M&A in India’s booming alt-dairy sector.
- In February 2021, Danone, the French dairy giant, acquired Follow Your Heart, a plant-based pioneer. The transaction involved Danone purchasing 100% of the shares of Earth Island.
Plant Based Dairy Market Summary
Study Period
2024 - 2030
Base Year
2023
CAGR
11.2%
Largest Market
North America
Fastest Growing Market
North America
Plant-Based Dairy Market Dynamics
There's a growing opportunity to develop new plant-based dairy products beyond milk, including cheese, yogurt, ice cream, and butter. The plant-based dairy market holds immense potential in regions like Asia with a large population and rising disposable income. The organic and sustainable segment within plant-based dairy is poised for growth as consumers seek out products that align with their values. Plant-based dairy companies are developing products that mimic the functionality of traditional dairy products in cooking and baking. Fortification with vitamins, minerals, and protein will enhance the nutritional value of plant-based dairy products. The private label segment of the plant-based dairy market is expected to grow as retailers offer their plant-based alternatives.
North-America Got Significant Share of
Plant-Based Dairy Market Regional Analysis
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America holds the largest market share and dominant region. Factors contributing to the growth are the high prevalence of lactose intolerance and dairy allergies, increasing awareness of the health and wellness benefits of plant-based alternatives, popularity of vegan and plant-based diets. Asia-Pacific is the fastest-growing market region, and the reason for the surge, growing health consciousness among consumers. expanding product variety with innovative options. large lactose intolerant population in certain regions like East and Southeast Asia. A Strong Contender Well-established market with a significant consumer base for plant-based dairy products. Key drivers are government regulations promoting plant-based options. Environmental concerns are influencing consumer choices. Other Regions – Latin America, Middle East & Africa These regions are in the development stage but hold potential for future growth. Factors influencing potential, rising disposable income allowing for premium product purchases, and growing awareness of health and environmental issues.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.
Plant Based Dairy Market Segmentation
By Product Type
By End User
- Retail/Household
- Food Services Industry
- Food & Beverage Industry
By Distribution Channel
- Supermarkets
- Hypermarkets
- Local Grocery Stores
- Online
Frequently Asked Questions
The plant-based dairy market was valued at USD 13,928.2 billion in 2023 and growing at a CAGR of 11.2%.
The plant-based dairy market growth is driven by various factors shifting consumer preferences, rising veganism, and product innovation
• Focus on functionality • Fortification • Private label products
Asai-Pacific is the fastest-growing region in the plant-based dairy market.
| 1.Executive Summary |
| 2.Global Plant Based Dairy Market Introduction |
| 2.1.Global Plant Based Dairy Market - Taxonomy |
| 2.2.Global Plant Based Dairy Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.End User |
| 2.2.3.Distribution Channel |
| 2.2.4.Region |
| 3.Global Plant Based Dairy Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Plant Based Dairy Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Plant Based Dairy Market By Product Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Plant-Based Milk |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Plant-Based Yoghurt |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Plant-Based Cheese |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Other |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6.Global Plant Based Dairy Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Retail/Household |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Food Services Industry |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Food & Beverage Industry |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global Plant Based Dairy Market By Distribution Channel, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Supermarkets |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Hypermarkets |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Local Grocery Stores |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Online |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8.Global Plant Based Dairy Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Plant Based Dairy Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Plant-Based Milk |
| 9.1.2.Plant-Based Yoghurt |
| 9.1.3.Plant-Based Cheese |
| 9.1.4.Other |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Retail/Household |
| 9.2.2.Food Services Industry |
| 9.2.3.Food & Beverage Industry |
| 9.2.4.Others |
| 9.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Supermarkets |
| 9.3.2.Hypermarkets |
| 9.3.3.Local Grocery Stores |
| 9.3.4.Online |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Plant Based Dairy Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Plant-Based Milk |
| 10.1.2.Plant-Based Yoghurt |
| 10.1.3.Plant-Based Cheese |
| 10.1.4.Other |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Retail/Household |
| 10.2.2.Food Services Industry |
| 10.2.3.Food & Beverage Industry |
| 10.2.4.Others |
| 10.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Supermarkets |
| 10.3.2.Hypermarkets |
| 10.3.3.Local Grocery Stores |
| 10.3.4.Online |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Plant Based Dairy Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Plant-Based Milk |
| 11.1.2.Plant-Based Yoghurt |
| 11.1.3.Plant-Based Cheese |
| 11.1.4.Other |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Retail/Household |
| 11.2.2.Food Services Industry |
| 11.2.3.Food & Beverage Industry |
| 11.2.4.Others |
| 11.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Supermarkets |
| 11.3.2.Hypermarkets |
| 11.3.3.Local Grocery Stores |
| 11.3.4.Online |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Plant Based Dairy Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Plant-Based Milk |
| 12.1.2.Plant-Based Yoghurt |
| 12.1.3.Plant-Based Cheese |
| 12.1.4.Other |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Retail/Household |
| 12.2.2.Food Services Industry |
| 12.2.3.Food & Beverage Industry |
| 12.2.4.Others |
| 12.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Supermarkets |
| 12.3.2.Hypermarkets |
| 12.3.3.Local Grocery Stores |
| 12.3.4.Online |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Plant Based Dairy Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Plant-Based Milk |
| 13.1.2.Plant-Based Yoghurt |
| 13.1.3.Plant-Based Cheese |
| 13.1.4.Other |
| 13.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Retail/Household |
| 13.2.2.Food Services Industry |
| 13.2.3.Food & Beverage Industry |
| 13.2.4.Others |
| 13.3. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Supermarkets |
| 13.3.2.Hypermarkets |
| 13.3.3.Local Grocery Stores |
| 13.3.4.Online |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Organic Valley |
| 14.2.2.Oatly AB |
| 14.2.3.Blue Diamond Growers Inc |
| 14.2.4.Groupe Danone |
| 14.2.5.Alt Co |
| 14.2.6.SunOpta |
| 14.2.7.Ripple Foods |
| 14.2.8.Freedom Foods Group Limited |
| 14.2.9.The Hershey Company |
| 14.2.10.Earth’s Own Food Company |
| 14.2.11.Goya Foods |
| 14.2.12.Living Harvest Foods Inc |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
- Organic Valley
- Oatly AB
- Blue Diamond Growers Inc
- Groupe Danone
- Alt Co
- SunOpta
- Ripple Foods
- Freedom Foods Group Limited
- The Hershey Company
- Earth’s Own Food Company
- Goya Foods
- Living Harvest Foods Inc