The strong growth experienced by other plant-based milk is expected to continue over the forecast period as it gains further share from soy drinks. With conscious consumerism expected to gain further momentum over the forecast period as Australians become increasingly aware of their carbon footprint, high levels of innovation and new entrants are expected in the category to address demand.
Flavoured products offer further potential for innovation and growth in plant-based milk in Australia as consumers seek more adventurous and indulgent flavours. While many consumers enjoy the nutty flavour of plant-based milk varieties driven by a loyal following, consumers seeking differentiation and excitement are becoming more exploratory in terms of flavours and options.
Growing consumer interest in health and wellness has helped plant-based cheese to expand its presence in Australia, with further dynamic growth expected via both retail and foodservice over the forecast period. The demand for plant-based alternatives is increasing exponentially as an increasing number of Australians are willing to spend on plant-based options as a lifestyle choice for health, ethical and environmental reasons.
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Understand the latest market trends and future growth opportunities for the Plant-based Dairy industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of plant-based milk, plant-based yoghurt and plant-based cheese. Please note that plant-based dairy products that are not milk, yoghurt or cheese are tracked under their core dairy categories (e.g. powder milk, margarine and spreads, coffee whiteners etc.)See All of Our Definitions
This report originates from Passport, our Plant-based Dairy research and analysis database.
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