An in-depth insight of Global Plant-based Dairy Market Industry covering all important parameters including development trends, challenges, opportunities, key manufacturers and competitive analysis.
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.
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.
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The updated research report on the Plant-based Dairy Market delivers crucial information like market share, size, and growth rate for the industry players, marketing executives, and stakeholders to gain advantage and grow over the forecast period 2019 - 2030. The report delivers essential details on growing consumer requirements, product preferences, spending power, and demographic information like gender-wise and age-wise preferences in order to delivers optimal services to end users. The report also mentions major opportunities for the market players to explore and gain advantage from. Also, few restraining factors are also stated in the report to alert the players and plan their production volume and reduce wastage.
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.
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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.