Plant-based dairy is expected to continue registering double-digit volume and value growth over the forecast period, with this strong performance expected to be largely the result of changing perceptions of plant-based dairy among growing numbers of consumers, which is set to lead to a substantial widening of the core consumer audience for plant-based milk in particular. While in the past, plant-based dairy was largely associated with religious fasting, nowadays it is increasingly linked to healthy lifestyles and efforts to reduce the risk of developing chronic diseases.
While in the past many industry observers were quick to dismiss the rapid growth seen in plant-based dairy as evidence that this was a passing fad, it is becoming increasingly apparent that plant-based dairy is here to stay. Many of the reasons that consumers site for preferring plant-based dairy have very real and strong basis, including environmental sustainability, especially within the global heating and climate change paradigm, as well as animal welfare concerns related to intensive cattle farming and industrial dairy production.
During the forecast period, numerous leading retailers are expected to become increasingly interested in stocking a wider range of plant-based dairy products as consumers become receptive to these products. Many hypermarkets and supermarkets have already realised that they can benefit from allocating more shelf space to plant-based dairy brands, while an important step towards increasing consumer exposure to plant-based dairy has already taken by some retailers: moving plant-based dairy products out of discrete, dedicated areas and onto the same shelves as regular dairy products, positioning products side-by-side with standard dairy brands.
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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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