Inclination Towards Lactose-Free Products Encouraged the Global Plant-Based Dairy Products Market to Achieve a CAGR of 9% by 2030
Inclination Towards Lactose-Free Products Encouraged the Global Plant-Based Dairy Products Market to Achieve a CAGR of 9% by 2030
Markntel Advisors, a leading consulting, data analytics, and market research firm, recently published an analytical report description that describes the prominent factors boosting the growth of the Global Plant-Based Dairy Products market. As per the report, the high prevalence rates in Asia, Africa, and Latin America regions create most of the market demand. This awareness drives consumers to increasingly look to plant-based dairy alternatives which tend to naturally exclude lactose. Almond, oat, and soy milk serve as safe and nutritious plant-based choices, allowing individuals to experience dairy-like enjoyment without the discomfort linked to conventional milk.
The report further comprises, “Plant-based dairy products Market Research Report: By Product Type (Milk, Cheese, Butter, Yogurt, Creamers, Others), By Material Type (Fruits, Vegetables, Seeds & Nuts, Others), By Sales Channel (Supermarket/Hypermarket, Convenience Stores, Specialty Stores, E-commerce, Others), By Nature (Organic, Conventional), By End Use (Bakery & Confectionery, Snacks & Savouries, Ready Meals, HoReCa, Dietary Supplements, Other Food Products) and Others Forecast (2025-2030)”, According to the report, the Global Plant-Based Dairy Products Market size was valued at around USD 20 billion in 2024 and is projected to reach USD 34 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9% during the forecast period 2025-30.
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Plant-derived dairy items possess a flavor and consistency akin to conventional dairy products but are created from plant extracts and other plant-based materials without any milk. This category can encompass plant-based milk, cheese, butter, yogurt, ice cream, and other similar products.
Key Takeaways
- Study Period: Global Plant-Based Dairy Products market report historical data – 2020-23, Base year – 2024, and Forecast Period- 2025-30
- Market Growth: The Global Plant-Based Dairy Products Market is estimated to grow at a CAGR of around 9% during the forecast period, i.e., 2025-30.
- Growth Driver: The Global Plant-Based Dairy Products market is expected to expand with the burgeoning demand for Lactose-Free products
- Growth Challenges: The Global Plant-Based Dairy Products market is expected to be hampered owing to the high costs associated with plant-based dairy products
- By Nature: The organic Segment led the market segment. The desire for more ecologically friendly and healthful options is another factor contributing to this growth.
- By Product Type: Milk led the market segment because of the growing consumer awareness of health and environmental issues has led the market towards dairy milk alternatives
Frequently Asked Questions (FAQs)-
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- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Global Plant-Based Dairy Products adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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