Competitive Landscape
Hershey India Sustains Lead as New Entrants Drive Fragmentation
Plant-based dairy in 2026 is expected to be characterised by growing fragmentation, despite the continued leadership of Sofit, managed by Hershey India Pvt Ltd. Hershey India maintains its lead with a share of 19%, far ahead of emerging competitors such as Rakyan Beverages Pvt Ltd with 0.
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Overview:
Understand the latest market trends and future growth opportunities for the Plant-based Dairy industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Plant-based Dairy industry in India, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Plant-based Dairy in India report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Plant-based Dairy in India?
- Which are the leading brands in Plant-based Dairy in India?
- How are products distributed in Plant-based Dairy in India?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Plant-based Dairy?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in India?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Plant-Based Dairy in India - Category analysis
Key Data Insights
Plant-Based Dairy Summary
High-Protein Claims Attract Urban Consumers
Coconut Milk Options Offer Versatility in Cooking and Beverages
Plant-Based Brands Expected to Diversify Offerings with New Flavours
Protein Fortification and Health Claims to Drive Mainstream Adoption
Hershey India Sustains Lead as New Entrants Drive Fragmentation
Small Local Grocers Dominate Plant-Based Dairy Distribution
Blinkit and Instamart Boost Digital Reach for Healthier Shoppers
So Good India Redefines Daily Nutrition with High-Protein Milk Launches
Royal Grove Expands with Differentiated Coconut Milk Offerings
Dairy Products and Alternatives in India - Industry Overview
2026 Developments
Key Data Insights
Brands Leverage Protein Claims to Make Functional Wellness Mainstream
Price Hikes Increase Value Consciousness Amid Cost Pressures
Urban Households to Adopt Premium Dairy Products for Daily Nutrition Gains
Packaged Brands to Win Trust as Shoppers Reject Loose and Homemade Options
Gujarat Sustains Lead as Digital-First Brands Raise Competition
Small Local Grocers Provide Easy Access to Frequently Purchased Dairy Products
Quick Commerce Accelerates Impulse-Led Sales for Premium Formats
Nandini Transforms Daily Staples with Protein-Led Wellness Claims
Amul and Mother Dairy Raise Prices to Manage Inflation
Wellness-Led Innovation Accelerates Competitive Realignment across Indian Dairy
Country Reports Disclaimer
The following categories and subcategories are included:
Plant-based Dairy
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- Soy Drinks
- Other Plant-based Milk
- Plant-based Yoghurt
- Plant-based Cheese
Plant-based Dairy
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 definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Plant-based Dairy research and analysis database.
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