Plant-Based Dairy Market Growing Rapidly in Western Europe and North America

The plant-based dairy market in Western Europe and North America is experiencing rapid growth, with consumers increasingly prioritizing veganism and environmental sustainability. In 2023, the market reached $11.55 billion, showing a compound annual growth rate of 12%. Plant-based beverages are driving this growth, followed by yoghurt and cheese alternatives. Despite the increase, plant-based dairy products still only account for a small portion of the traditional dairy market, with milk alternatives being the most successful product type.

There are differences in the adoption of dairy alternatives between Western European countries, with Finland spending more per person per year on plant-based dairy compared to France. Consumer attitudes towards milk alternatives also vary between countries, with Germany showing high market potential due to factors like awareness of animal rights and health. Although a global survey found that 58% of respondents are open to switching to plant-based dairy, barriers such as taste, texture, availability, pricing, and perceptions of over-processing still exist.