A market research report predicts the global plant-based dairy market could reach $34 billion by 2030, with a current worth of $20 billion. The Asia-Pacific region is expected to lead with a 35% share, driven by increased awareness of lactose intolerance and rising disposable incomes. Factors contributing to market growth include the availability of plant-based options, adoption of vegan diets, and environmental concerns with oat and soy products requiring less water compared to traditional dairy.

Health and sustainability are key drivers for growth, with nearly 68% of the global population struggling with lactose intolerance. Milk dominates the dairy-free market and innovation will play a significant role in market growth. Legislation and subsidies are also supporting the plant-based dairy market, with examples such as the European Green Deal and Canada’s Food Guide promoting plant-based proteins alongside animal products. Europe is investing over $2.5 million in promoting plant-based foods to create a more resilient food system.