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Milk Substitutes - Bangladesh

Bangladesh
  • Revenue in the Milk Substitutes Market is projected to reach US$9.60m in 2025.
  • Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 14.38%, resulting in a projected market volume of US$16.42m by 2029.
  • With a projected market volume of US$6.86bn in 2025, most revenue is generated China.
  • In the Milk Substitutes Market, the number of users is expected to amount to 1.7m users by 2029.
  • User penetration will be 1.1% in 2025 and is expected to hit 1.0% by 2029.
  • The average revenue per user (ARPU) is expected to amount to US$7.70.

Definition:

The eCommerce Milk Substitutes market refers to the online sales of non-dairy products that are used as alternatives to cow's milk. These products include plant-based milk substitutes such as almond milk, soy milk, oat milk, and coconut milk, as well as other non-dairy options like rice milk and hemp milk. The market includes the revenues generated from the online sales of these milk substitutes, the number of users purchasing these products online, the average revenue per user, and the penetration rates of these products in the eCommerce sector.

Additional information:

eCommerce Milk Substitutes comprises revenues, users, average revenue per user, and penetration rates. Revenues are derived from annual filings, national statistical offices, Google- and Alibaba-Trends and industry knowledge. Sales Channels show online and offline revenue shares, as well as, desktop and mobile sales distribution. Revenues are including VAT. The market only displays B2C revenues and users for the above-mentioned markets, hence C2C, B2B and reCommerce is not included.

Key players in the market are companies, such as Alpro, Silk, and Oatly.

Market numbers for the total market sizes (online + offline) can also be found on the respective pages of the Consumer Market Insights.

In-Scope
  • Milk substitutes, such as Oatly's oat milk products, drive online purchases
Out-Of-Scope
  • Offline revenues, such as sales in physical grocery stores
Food eCommerce: market data & analysis - Cover

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Food eCommerce: market data & analysis
Study Details

    Revenue

    Created with Highcharts 11.4.8ValuesTotal20172018201920202021202220232024202520262027202820295101520253035

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Created with Highcharts 11.4.8ValuesAverage201720182019202020212022202320242025202620272028202915202530354045505560

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Milk Substitutes eCommerce Market within the Dairy Products & Eggs Market in Bangladesh is witnessing significant growth, fueled by increasing health consciousness, rising veganism trends, and the ease of purchasing alternatives online, catering to diverse consumer needs.

    Customer preferences:
    Consumers in Bangladesh are increasingly gravitating towards milk substitutes, driven by a growing awareness of health and nutrition. This trend is amplified by the rise of veganism and lactose intolerance, prompting a shift from traditional dairy to plant-based alternatives. Additionally, the convenience of eCommerce platforms enables easy access to a variety of products catering to diverse dietary preferences. As urbanization progresses, younger demographics are embracing these alternatives, reflecting a broader lifestyle change that prioritizes sustainability and holistic well-being.

    Trends in the market:
    In Bangladesh, the Milk Substitutes eCommerce Market is experiencing significant growth, driven by an increasing demand for plant-based alternatives among health-conscious consumers. This shift is fueled by rising awareness of lactose intolerance and the benefits of vegan diets. Concurrently, eCommerce platforms are expanding their offerings, making it easier for consumers to access diverse milk substitutes. As urbanization accelerates, younger demographics are particularly inclined towards these alternatives, highlighting a shift towards sustainable consumption. This trend presents both opportunities and challenges for industry stakeholders, requiring them to adapt to evolving consumer preferences and invest in innovative product development.

    Local special circumstances:
    In Bangladesh, the Milk Substitutes eCommerce Market is shaped by unique cultural and geographical factors, including a rich tradition of dairy consumption and a rising trend towards health and wellness. The prevalence of lactose intolerance among a significant portion of the population drives demand for plant-based alternatives. Additionally, the country's regulatory framework is evolving, with increasing support for sustainable agriculture practices. Urban consumers are increasingly influenced by global dietary trends, creating a vibrant market for diverse milk substitutes while presenting challenges for traditional dairy producers to adapt.

    Underlying macroeconomic factors:
    The Milk Substitutes eCommerce Market in Bangladesh is significantly influenced by macroeconomic factors, including rising disposable incomes, urbanization, and a growing middle class that is increasingly health-conscious. Global economic trends, such as the shift towards plant-based diets, further shape consumer preferences, driving demand for alternatives to cow's milk. Additionally, fiscal policies that promote sustainable agriculture and food security are crucial for market growth. Exchange rate fluctuations can impact import costs of raw materials for plant-based products, while inflation may influence consumer purchasing behavior, making affordability a key consideration in the evolving dairy substitutes landscape.

    Sales Channels

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Users

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

    Modeling approach / Market size:

    Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Consumer Insights Global Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.

    Additional Notes:

    The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the Russia/Ukraine war is considered at a country-specific level.

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    Food eCommerce: market data & analysis - BackgroundFood eCommerce: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Jan 2025

    Source: Statista Market Insights

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