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  • Plant-based dairy alternatives soaring
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2nd June 2020 Dairy Beverages Plant-based

Plant-based dairy alternatives soaring

The global market for plant-based dairy alternatives has been forecast by Czarnikow to jump from $15.8 billion in 2019 to $35.8 billion in 2026, representing annual growth of 12.4%.

The reasons cited include:

  • allergies and intolerances
  • environment and sustainability
  • animal welfare
  • vegan diets
  • taste
  • perceived health benefits.

With the global dairy market valued at $450 billion and increasing by 1.8% a year, this puts plant-based at currently 3.5% of the dairy total, rising to 7.0% in 2026.

Also of note, projected plant-based growth of $20 billion compares with predicted dairy growth of $60 billion.

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