Vegan milk alternatives become more and more popular
The growing trend towards veganism is rapidly increasing the market for plant-based milk alternatives! It is not only meat substitutes that are popular (we reported on May 16). A recent report by Fortune Business Insight shows, dairy products are also becoming more popular!
In 2022, global sales of plant-based dairy alternatives were approximately US$25.19 billion
By 2030, the market is expected to reach a volume of $69.84 billion
The worldwide trend towards veganism is rapidly increasing the market for plant-based milk alternatives!
Rapid growth
According to the latest report from Fortune Business Insight, the trend toward veganism and demand for plant-based alternatives is having a significant impact on the global dairy alternatives market. In 2022, the value of the plant-based dairy alternatives market was $25.19 billion. By 2030, the market is forecast to be worth around $69.84 billion! But it's not just the trend toward plant-based diets that is increasing demand for alternative products. According to the report, rising rates of lactose intolerance and allergies, particularly in the Asia-Pacific region, are another reason for the increasing demand for milk alternatives.
Soy is the front runner
Soy-based products in particular are expected to occupy a dominant market position. Because, both the availability of soy, as well as the demand for products such as soy milk, are increasing sharply! Although oat milk in particular is the favorite among milk alternatives in Germany, soy milk is clearly the frontrunner in China.
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