Plant Based Dairy Market Size and Share

The global plant-based dairy market size reached US$ 13.2 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 28.1 billion in 2032, exhibiting a growth rate (CAGR) of 9.2% during 2024-2032.
Plant-based dairy products offer consumers dairy alternatives derived from plant sources such as soy, almond, coconut, and oats. These products cater to variety of dietary preferences and needs, including lactose intolerance, veganism, and environmental concerns. Plant-based dairy solutions provide range of options, such as plant-based milk (e.g., almond milk, soy milk), yogurts, cheese alternatives, and ice cream. These mimic the taste and texture of conventional dairy while offering benefits such as reduced environmental impact, lower cholesterol, and lower carbon footprint. The market revenue continues to grow with innovative offerings, including dairy-free creamers, butters, and even plant-based versions of conventional dairy favorites such as Greek yogurt and cottage cheese.