Plant-based Dairy Market by Source (Almond, Oats, Coconut, Soy, Hemp, and Rice), Application (Cheese, Yogurt, Milk, Creamers, and Ice Creams), Distribution Channel (Supermarkets, Pharmacies, Online Stores, Health Food Stores, And Convenience Stores) - Global Analysis & Forecast 2019-2030

Report ID : 129  |  Published Date : Jan 2020  |  Pages : 220  |  Region : Global  |  Report Code : OTH-16





Plant-based Dairy Market Overview and Introduction

Plant-based Dairy Market is estimated to be valued at ~US$ 19.0 billion in 2019. The market is anticipated to further grow at a CAGR of ~11.0% from 2019 to 2030.

Consumption of plant produce is essentially more efficient than cultivating plants in order to feed animals and utilizing them for generation of food products, such as milk, cheese, butter and yoghurt among others. Animal agriculture utilizes 77% of all agricultural land on Earth, however, it is capable of supplying only 17% of the aggregated food supply required for the purpose of human consumption. On the contrary, plant-based food products including plant-based dairy minimizes emission of greenhouse gas (GHG) by eliminating biodiversity loss, deforestation, water pollution and freshwater use. Plant-based dairy substitutes are derived from a wide range of sources such as legumes, pseudocereals, oil seeds, cereals. However, milk derived from legume-based varieties such as peanuts, hazelnuts, pecans, macadamias, cashews and even tiger nuts, are gaining significant popularity among the population.

Although, the global food and beverage industry has experienced relatively stable conditions in recent times, but, adoption of plant-based alternatives have witnessed significant surge during the same period. For instance, in 2017, it was estimated that the sale of plant-based milk in the U.S. accounted for a staggering ~US$ 2.1 billion. Several prominent players, start-ups and disruptor companies across several geographies have launched new products into the market to meet the rising demand for innovative products and flavors. Product innovation, growing number of consumers looking to eat plant-based alternatives, and rising awareness regarding animal welfare & environmental sustainability, among others are some of the pivotal factors fueling the demand of plant-based dairy products globally.

Changing consumer lifestyles and attitudes is another key factor responsible for the wide scale adoption of plant-based dairy products. The existence of non-dairy milk has existed for centuries; however, since the past two decades, its adoption has grown manifolds. Non-dairy milk is considered to be the clear successor of cow or dairy milk. Since, 2012, cow milk consumption has witnessed a major decline while non-dairy milk consumption grew by ~61% during the same period, a trend that is anticipated to grow further in the years to come. Consumers have adopted plant-based dairy as they believe that it makes them look & feel better and also augurs well with their wellness & health goals. Several other factors related to dairy products, including lactose intolerance, allergy, adherence to a vegan/plant-based diet, antibiotic use in dairy cattle, and hormone content, have played a pivotal role in promoting the preference for non-dairy milk & milk products.

Although the dairy alternatives market, offers immense growth opportunities, but the potential still faces several challenges. Better understanding of consumer behavior, challenges associated with non-dairy formulation, and legislative challenges are few bottlenecks that are likely to curb the market growth to a certain extent.

The global plant-based dairy market has primarily been segmented into the following categories, viz. By Source, By Application and By Distribution Channel.

Plant-based Dairy Market By Source

The segment of source can be majorly classified into almond, oats, coconut, soy, hemp, rice and others. The market for almond accounted for the highest market share in this segment, owing to better nutrition composition, low calorie count and several health benefits offered by the product.

Plant-based Dairy Market By Application

The segment of application can be majorly classified into cheese, yogurt, milk, creamers, ice creams and others. The milk segment is anticipated to account for the largest market share during the forecast period. Factors such as health concerns related to lactose intolerance, and growing number of product offerings by companies, will significantly support the popularity of dairy-free milk in the coming years.

Plant-based Dairy Market By Distribution Channel

The segment of source can be majorly classified into supermarkets, pharmacies, online stores, health food stores, convenience stores and others. The online services channel is projected to be the fastest growing segment in the plant-based dairy market during the forecast period. The growth of this segment can be attributed to cost-effectiveness and faster accessibility.

Plant-based Dairy Market By Regions

The global plant-based dairy market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW).  Asia Pacific is expected to be the fastest growing regional market. Several factors such as rising awareness regarding fitness & health, growing purchasing power, increasing demand for healthy & nutritional products can be attributed to the growth of this region.       

Plant-based Dairy Market Prominent Players

Some of the key players operating in the global plant-based dairy market are Valsoia SPAPIVA, The WhiteWave Foods Company (Danone), FREEDOM FOODS GROUP LIMITED, Earth's Own, SunOpta, Eden Foods, PANOS, Doehler, Blue Diamond Growers, Hain Celestial and Organic Valley, among others.

Table of Contents

  1. INTRODUCTION
    1. Market Definition
    2. Market Classification
    3. Geographic Scope
    4. Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecast Years – 2019 to 2030
    5. Currency Used
  2. RESEARCH METHODOLOGY
    1. Research Framework
    2. Data Collection Technique
    3. Data Sources
      1.  Secondary Sources
      2.  Primary Sources
    4. Market Estimation Methodology
      1.  Bottom Up Approach
      2.  Top Down Approach
    5. Data Validation and Triangulation
      1.  Market Forecast Model
      2.  Limitations/Assumptions of the Study
  3. ABSTRACT OF THE STUDY
  4. MARKET DYNAMICS ASSESSMENT
    1. Overview
    2. Drivers
    3. Barriers/Challenges
    4. Opportunities
  5. GLOBAL PLANT-BASED DAIRY MARKET - ANALYSIS & FORECAST, BY SOURCE
    1. Almond
    2. Oats
    3. Coconut
    4. Soy
    5. Hemp
    6. Rice
    7. Others
  6. GLOBAL PLANT-BASED DAIRY MARKET - ANALYSIS & FORECAST, BY APPLICATION
    1. Cheese
    2. Yogurt
    3. Milk
    4. Creamers
    5. Ice creams
    6. Others
  7. GLOBAL PLANT-BASED DAIRY MARKET - ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
    1. Supermarkets
    2. Pharmacies
    3. Online Stores
    4. Health Food Stores
    5. Convenience Stores
    6. Others
  8. GLOBAL PLANT-BASED DAIRY- ANALYSIS & FORECAST, BY REGION
    1.   North America Plant-based Dairy Market
      1.  North America Plant-based Dairy Market, By Country
        1.  US
        2.  Canada
      2. North America Plant-based Dairy Market Analysis & Forecast, By Source
      3. North America Plant-based Dairy Market Analysis & Forecast, By Application
      4. North America Plant-based Dairy Market Analysis & Forecast, By Distribution Channel
    2. Europe Plant-based Dairy Market
      1. Europe Plant-based Dairy Market, By Country/Region
        1. Germany
        2. UK
        3. France
        4. Rest of Europe (ROE)
      2. Europe Plant-based Dairy Market Analysis & Forecast, By Source
      3. Europe Plant-based Dairy Market Analysis & Forecast, By Application
      4. North America Plant-based Dairy Market Analysis & Forecast, By Distribution Channel
    3. Asia Pacific Plant-based Dairy Market
      1. Asia Pacific Plant-based Dairy Market, By Country/Region
        1. China
        2. Japan
        3. India
        4. Rest of Asia Pacific (RoAPAC)
      2. Asia Pacific Plant-based Dairy  Market Analysis & Forecast, By Source
      3. Asia Pacific Plant-based Dairy Market Analysis & Forecast, By Application
      4. North America Plant-based Dairy Market Analysis & Forecast, By Distribution Channel
    4.   Rest of the World (ROW) Plant-based Dairy Market
      1. Rest of the World Plant-based Dairy Market, By Country/ Region
        1.  Latin America
        2.  Middle East & Africa
      2. Rest of the World Plant-based Dairy Market Analysis & Forecast, By Source
      3. Rest of the World Plant-based Dairy Market Analysis & Forecast, By Application
      4. North America Plant-based Dairy Market Analysis & Forecast, By Distribution Channel
  9. COMPANY PROFILES (Business Overview, Products Offered, Financial Performance*, Recent Developments)
    1.  Valsoia SPAPIVA,
    2. The WhiteWave Foods Company (Danone)
    3. FREEDOM FOODS GROUP LIMITED
    4. Earth's Own
    5. SunOpta
    6. Eden Foods
    7. PANOS
    8. Doehler
    9. Blue Diamond Growers
    10. Hain Celestial
    11. Organic Valley

*Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain