Plant-Based Dairy Market Expected to Grow at 9.6% CAGR By 2034, Says Fact.MR

Rising availability of plant-based dairy items in retail channels such as hypermarkets, supermarkets, and online platforms driving market growth, says Fact.MR.

ROCKVILLE , MD, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- The global plant-based dairy market is estimated to reach a valuation of US$ 36.69 billion by the end of 2034, up from US$ 14.7 billion in 2024, according to an updated industry analysis released by Fact.MR, a market research and competitive intelligence provider. Because so many individuals worldwide are lactose intolerant, there is a constant need for plant-based dairy products because they are by nature lactose-free.

Conventional dairy products include lactose, a sugar that is indigestible to individuals suffering from this ailment, leading to discomfort and stomach issues. Some plant-based dairy substitutes that are naturally lactose-free include almonds, soy, oats, and coconuts. This makes them an excellent choice for anyone wishing to avoid uncomfortable side effects.

Throughout the projection period, East Asia is forecasted to hold a leading position in the market for plant-based dairy products. The growing variety of goods and the rising availability of plant-based dairy products in supermarkets and hypermarkets are driving the market expansion in the region. The demand for organic and plant-based food items is rising, the number of vegans is growing, and the availability of non-dairy milk and other dairy substitutes is expanding, all of which are driving the expansion of the East Asian market.

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Key Takeaways from Market Study

The worldwide plant-based dairy market is projected to expand at a CAGR of 9.6% from 2024 to 2034.

East Asia is forecasted to account for 24.5% of the global market share in 2024.

In North America, the United States is estimated to hold 75.2% market share in 2024.

The market in Japan is projected to advance at a CAGR of 11% from 2024 to 2034.

The market in China is forecasted to generate revenue worth US$ 6.71 billion by 2034-end.

Based on product, plant-based milk is projected to generate revenue of US$ 9.86 billion by 2034.

In North America, revenue from the sales of plant-based dairy products is forecasted to touch US$ 8.55 billion by 2034.

“Leading companies in the plant-based dairy market are concentrating on enhancing the nutritional profile, flavor, texture, and several other components to attract more consumers,” says a Fact.MR analyst

Plant-based Milk Gaining Traction Globally

Compared to other milk products, plant-based milk products are becoming more popular because they are a staple of many diets and are utilized extensively in dairy life. It's an ideal option for those trying to reduce their use of animal products. Plant-based milk is becoming more popular in comparison to traditional milk in cereal, baking, cooking, and coffee. Furthermore, compared to a few other options, plant-based milk products have been on the market for a longer time, which has given them more opportunity to build popularity. Many consumers believe that plant-based milk is easier to incorporate into their diets than other items such as cheese or yogurt, which require different cooking methods and taste preferences.

Competitive Landscape

Key players in the plant-based dairy market are concentrating on enhancing the texture, taste, nutritional value, and other aspects of their products. Recent innovations, including new formulations, exciting flavors, and functional ingredients, are drawing more consumers to explore these alternatives. Many companies are securing funding and boosting investments in research and development to advance new technologies and maximize their growth opportunities, positioning themselves for long-term success.

TerraMeatTM Plant-Based Chick'n was introduced in August 2024 by Elmhurst 1925, a company renowned for creating high-quality plant-based dairy products. With its remarkably clean ingredient list and superior protein delivery, this revolutionary plant-based chicken alternative demonstrates Elmhurst's commitment to leading the market in terms of plant-based food simplicity of use and nutritional value.

Growth Drivers for Prepackaged Medical Kit and Tray Market

Increasing Focus on Infection Control: Rising awareness about the importance of infection prevention in healthcare settings is driving the demand for prepackaged medical kits and trays, which offer sterile, ready-to-use solutions.

Growth in Ambulatory and Home Healthcare: The expansion of ambulatory surgical centers and home healthcare services has increased the need for convenient, portable, and customized medical kits and trays.

Surge in Surgical Procedures: The growing number of surgical and diagnostic procedures globally, driven by an aging population and advancements in medical technology, is boosting the market for prepackaged medical solutions.

Time and Cost Efficiency: Prepackaged kits and trays help reduce procedure preparation time and minimize waste, leading to cost savings for healthcare providers, further fueling market adoption.

Regulatory Compliance and Quality Assurance: Stringent healthcare regulations emphasizing sterility and safety are encouraging the use of prepackaged solutions to ensure compliance and high-quality standards in patient care.

Technological Advancements: Innovations in packaging materials and customization options are enabling the development of more efficient, application-specific medical kits and trays, driving market growth.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the ambulance cot market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on product (emergency cots, transport cots), technology (manual cots, pneumatic cots, electric cots), and end user (EMS service providers, hospitals, ambulatory service centers), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

Checkout More Related Studies Published by Fact.MR Research:

Plant Based Breads Market: The growing popularity of vegan food and changing consumer preferences towards clean label ingredients and health-conscious choices are driving the demand for plant-based breads. Manufacturers are investing in research and development to replicate the texture and mouthfeel of traditional breads, with innovations like millet and chia loaves or seed and grain options. Brands are also boosting awareness through social media platforms like Instagram, particularly targeting millennial consumers, which has contributed to increased sales.

Plant Based Pasta Market: The plant-based pasta market is poised for steady growth as consumers shift towards gluten-free options to maintain a healthy diet and protein intake. The increasing number of health-conscious individuals worldwide is expected to drive demand for plant-based alternatives. As awareness about the environmental impact of animal-based products rises, more consumers are opting for plant-based food. These factors, combined with the growing trend of healthier lifestyles, present significant opportunities for the plant-based pasta market in the coming years.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.

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