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Industry NewsPlant-based dairy market to expand nearly 3x by 2031: Report

Plant-based dairy market to expand nearly 3x by 2031: Report

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Global sales of plant-based dairy products are expected to grow 11 per cent until 2031 with an estimated market value of US$ 32 billion, according to a recently published report by an ESOMAR-certified market research and consulting firm.

Increased preference for naturally sourced food products is spurring demand.

Key takeaways from the study:

  • The global plant-based dairy market is anticipated to add almost 3x value by 2031
  • Almond milk remained the top-selling category in 2020, clocking a value of US$ 6.5 Bn
  • 2 out of 5 sales of plant-based dairy products occur via online retail platforms
  • By nature, organic plant-based dairy products sales to surge at 13% CAGR
  • Sales across the U.S market to compound at a CAGR of over 10% until 2031
  • Organic dairy sales in China topped US$ 1 Bn in 2020, forecast to expand at nearly 14% CAGR

For more from the report, visit https://www.factmr.com/report/4963/plantbased-dairy-market.

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