Nils-Gerrit Wunsch
Research expert covering foods trends in North America, Europe, and the global food system
Plant-based milk and dairy alternatives worldwide - statistics & facts
Globally, the Asia-Pacific region is the largest market for plant-based milk alternatives. The region achieves a revenue that is more than double that of North America. In total, over nine billion U.S. dollars in revenue were generated with plant-based milk in the APAC region. The overwhelming majority of consumers in large markets such as India and China have tried plant-based milk products. In India, the share of plant-based milk consumers was close to three quarters. The share is 86 percent in China. At 93 percent, Taiwan has the largest share of consumers who have sampled these products.
Plant-based milk makes up the largest part of the plant-based dairy market as a whole. Regionally, Asia-Pacific is the most important market for milk alternatives. Sizeable parts of the Chinese and Indian population are regular consumers of dairy substitutes. With the generational shift these products will only gain in importance in many other country markets.
The global market by the numbers
Other plant-based dairy shows a different regional distribution. North America and Europe are vastly larger markets than the APAC region when it comes to plant-based cheese and yogurt products. Overall revenue of the global plant-based milk market is around 25 billion U.S. dollars annually. For comparison, in 2020, the size of the market was 18 billion U.S. dollars. The plant-based cheese market comes in at just under a billion U.S. dollars. Cheese substitutes doubled their revenue since 2018. Significant revenue growth is predicted for both market segments.Consumers thirst for alternatives
Consumption of milk alternatives vastly exceeds the consumption of other dairy alternatives. Over eight billion kilograms of plant-based milk compared to only 320 million and 42 million kilogram of yogurt and cheese alternatives, respectively. All sub-categories of the market are predicted to grow in the coming years when it comes to consumption figures. Younger generations are more likely to consume dairy substitutes regularly. Millennials are most likely to do so at 26 percent. Baby boomers regularly consume plant-based dairy only at 18 percent. While baby boomers are becoming a less and less important consumer group, millennials will gain a more important role and drive increased consumption figures.Plant-based milk makes up the largest part of the plant-based dairy market as a whole. Regionally, Asia-Pacific is the most important market for milk alternatives. Sizeable parts of the Chinese and Indian population are regular consumers of dairy substitutes. With the generational shift these products will only gain in importance in many other country markets.
