The plant based dairy market revenue totalled US$ 11 Bn for 2020, according to Fact.MR- a market research and competitive intelligence provider. The overall plant based dairy market is expected to reach US$ 32 Bn by 2031 end, growing at a CAGR of around 11%. The demand for plant based dairy product will accelerate with top 5 providers holding 65% of plant based dairy market in 2021.
The Market Research Survey of Plant-based Dairy by “Fact.MR, A Market Research and Competitive Intelligence Provider” highlights the key reasons behind increasing demand and growth. Sales Outlook of Plant-based Dairy as per the Market Research Survey is fairly positive and expected to register higher market growth during forecast period. The market survey report also provides latest industry analysis on Plant-based Dairy with key analysis of Plant-based Dairy market drivers, trends, and influencing factors.
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Key Takeaways from Plant-based Dairy Market Study
- The global plant-based dairy market is expected to progress at a CAGR of 8% in terms of volume.
- Plant-based milk products will hold the maximum share in terms of value, and are projected to create an absolute dollar opportunity of US$ 5.7 billion during the forecast period.
- Organic plant-based dairy products are expected to progress at a CAGR of 13% in terms of value, and are expected to gain 406 BPS in their market share by the end of the forecast period.
- By end use, the business to consumer (B2C) segment is expected to account for a majority share in terms of value, projected to create an absolute $ opportunity of US$ 14.6 billion during the forecast period.
- The retail sales channel is expected to a hold majority value share in the global plant-based dairy market, and is expected to be valued 2.6X than direct sales at the end of forecast period.
Key questions answered in Plant-based Dairy Market Survey Report:
- What is the current scenario and key trends in Plant-based Dairy Market?
- What are the key strategies companies are adopting to increase their consumer base?
- What are the key categories within the Plant-based Dairy segments and their future potential?
- What are the major Plant-based Dairy Market drivers and their expected impact during the short, medium, and long terms?
- What is the Plant-based Dairy Market size and what are the opportunities for the key players?
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Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
- Key manufacturer Danone SA, the French dairy giant made a move into dairy-free by acquiring WhiteWave Foods, the US manufacturer of the Alpro and Silk plant-based dairy-alternative ranges, for US$ 12.5 Bn.
- In February 2019, Danone announced it was opening a new building at its facility in DuBois, Pennsylvania, dedicated to plant-based food products including yogurt.
- In December 2019, Danone’s French dairy peer Lactalis announced it was taking its Siggi’s yogurt brand into the plant-based market.
Essential Takeaways from the Market Report
- Comparison of prominent players operating in the market.
- Identification of Plant-based Dairy Market drivers, restraints and other forces impacting the global market.
- Recent developments and key strategies adopted by market players.
- Study of the micro and macro-economic growth indicators.
- Impact of the various factors on the value chain.
- Evaluation of current Plant-based Dairy market size, forecast and technological advancements within the industry.
- Key Plant-based Dairy growth projections and highlights
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The Report Covers Exhaustive Analysis On:
- Plant-based Dairy Market Drivers, Segments and Restraints.
- Plant-based Dairy Market Survey and Dynamics
- Plant-based Dairy Market Size & Demand
- Plant-based Dairy Key Trends/Issues/Challenges
- Plant-based Dairy Sales, Competition & Companies involved
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