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A Booming Market in Plant-Based Products

Thursday, July 15, 2021

Once upon a time, animal milk was the only option for certain recipes. Today, that’s no longer the case, and you can find plant based - no milk alternatives made from a variety of grains, nuts, and legumes.

These versatile ingredients are making their way into breakfast foods, coffee, sauces, and even desserts like soft-ice and custards—and more people than ever are interested in trying or buying them—even if they’re not vegan.

More Than Just Another Trend

100% Plant based - no milk coffee drinks, desserts, & main dishes are in demand. “The global dairy alternatives market was valued at $20.5 Billion in 2020” and will reach $52.5 Billion by 2028.1 In fact, by 2018, 62% of dairy consumers had already purchased them.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

They’re Not Just for Vegans

Studies have shown that there are multiple factors behind the growing demand for plant based – no milk options. 37% choose them because of health & wellness, 21% because of lactose intolerance or allergies, 12% just because of taste, 12% for environmental & animal welfare concerns, and 7% because they are interested in trying new things.3

 

3 REASONS TO OFFER MORE PLANT-BASED OPTIONS

  1. Capture a new audience of vegans, vegetarians and flexitarians.

  2. Keep existing customers who want to change their eating habits.

  3. Accept larger groups by satisfying everyone in the party.4

 

 


References

1. Dairy Alternatives Market Share & Growth Report, 2021-2028. Market Study Report. Grand View Research.
2. Five insights into the views and behaviors of consumers in the US dairy industry | McKinsey
3. Plant-Based Consumer Insights | Synergy Flavors (synergytaste.com)
4. Should Your Restaurant Add Vegan Menu Options (touchbistro.com)