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Plant-based milk, a dairy-free alternative, is made from various plant sources like almonds, soy, coconut, oats, and rice. It offers a protein-rich option for the growing populations of vegans, those with lactose intolerance, and flexitarians, while also being sustainable and environmentally friendly. This alternative addresses concerns related to animal welfare, resource efficiency, and climate change.
The global rise in vegetarianism, veganism, and flexitarian diets has increased interest in plant-based milk, driven by heightened awareness of health, environmental issues, and compassion for animals. As more vegetarians seek products with plant-derived ingredients, plant-based options are becoming increasingly popular among these consumers.
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The growth of the lactose-intolerant demographic, the rise in veganism, shifting taste preferences, and a trend toward nut-based lactose-free milks have all contributed to the expansion of the plant-based milk market. Consumers are opting for options like almond milk for their health benefits and sustainability. The Almond Board of California reported that over 45% of almond-based products launched in 2021 featured claims such as lactose-free, gluten-free, vegan, or plant-based.
Soy milk is also gaining popularity due to its nutritional profile, being a good source of protein, vitamins, and minerals, often fortified with calcium, vitamin D, and B12. It is widely used in various products, including beverages, baked goods, yogurt, ice creams, desserts, and cheese.
Shifts in Eating Habits and Sustainability
Recent years have seen a significant rise in vegetarianism, veganism, and flexitarianism worldwide, spurred by growing awareness of health, environmental impacts, and animal welfare. According to Vegan Statistics, over 39% of Americans are incorporating more vegan options into their diets. A 2018 Oxford University study found that avoiding meat and dairy is the most effective way to reduce the environmental footprint of agriculture, highlighting that animal farming uses 83% of the earth’s farmland but contributes only 18% of calories.
Here are some statistics on the vegetarian and vegan populations globally:
- In 2021, 6% of U.S. consumers identified as vegan, a significant increase from 1% in 2014.
- Approximately 10% of Europeans were vegetarians, and 3% were vegan in 2021, according to the European Vegetarian Union.
- Germany saw its vegan population double to 2.6 million in 2021 compared to 2016, as reported by Veganz.
- In the UK, around 7.2 million adults followed a meat-free diet in 2021, up 40% from the previous year, according to the Vegan Society.
- In India, the vegetarian population was estimated to be 31-40% in 2020, per the UN FAO.
- In Australia, 2% were vegan and 5% vegetarian in 2021, according to Food Frontier.
- South Korea’s plant-based diet followers reached 1.5 million in 2020, an increase from 150,000 vegetarians in 2008.
- China’s 2018 dietary guidelines encouraged a 50% reduction in meat consumption.
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Interest in plant-based foods is rising among consumers, particularly among millennials (40% identified as vegan in 2020), with less interest from Baby Boomers and Generation X (21%) and seniors (2%). According to the Academy of Nutrition and Dietetics, well-planned vegetarian and vegan diets are healthy and nutritionally adequate, reducing the risk of various health conditions. These diets are suitable for all life stages, including pregnancy, infancy, and older adulthood.
Growing concerns about climate change have led consumers to seek more sustainable food options. On average, producing plant-based milk generates three to four times fewer greenhouse gas emissions than animal milk and requires significantly less land and water. These environmental benefits and changing dietary habits have accelerated the adoption of plant-based milk.
According to Meticulous Research®, the plant-based milk market is projected to reach $52.54 billion by 2031, growing at a CAGR of 11.4% from 2024 to 2031. In volume, this market is expected to reach 18.26 billion liters by 2031, at a CAGR of 9.2% during the same period.
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