Vegan Milk Market Forecast to Exceed $34 Billion by 2024

According to a recent report, the dairy alternatives market is set to exceed 34 Billion USD in value by 2024.

The report notes that many people are choosing to drink vegan milks because of a ‘consumer focus on the healthy diet and nutritional values offered by the non-dairy product such as low calories and high proteins and vitamins.’ In addition to this, the inclusion of plant based milk sin vegan cheeses, desserts, and other snacks are expected to have an impact on the market.

Although there are now many different types of vegan milk on the market, soy is still expected to hold the lion’s share.

At the moment, the dairy alternative market is not yet dominating the overall dairy market, however last year it was reported that 40% of the new dairy style products appearing on the market were, in fact, suitable for vegans, demonstrating an increasing consumer interest in vegan products as they move away from dairy.

The vast array milk alternatives now available is making it easier than ever for people to switch to plant based milk. With the advent of innovative bases such as pea and quinoa, high protein milks are becoming the norm in supermarkets.