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.