Soy drinks will register moderate growth in retail volume terms over the forecast period, as sales begin to recover from the effects of the COVID-19 pandemic. However, sales are not expected to exceed pre-pandemic levels until 2024.
Uruguay’s largest dairy company, Cooperativa Nacional de Productores de Leche, is expected to enter plant-based dairy over the forecast period, in a bid to keep abreast with changing consumer tastes. The company leads in almost all areas of dairy and is investing in the development of new, non-dairy based products to attract consumers, particularly in categories with strong potential, such as other plant-based milk.
Sales of plant-based dairy products within foodservice will remain negligible over the forecast period, although important changes are expected in the short term. Consistent with a growing demand for other plant-based milk in the retail channel, foodservice operators will begin to incorporate plant-based milk options, in order to satisfy the needs of their customers.
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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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