According to the market research company Fact.MR, the market for dairy-free products is set to grow rapidly by 2027. The rising trend towards vegan diets and increasing rejection of dairy products by consumers have prompted Fact.MR. to make this prediction.
The increasing demand for dairy-free products is attributable to several factors. Firstly, consumers are increasingly taking ethical factors into account in their eating habits. Secondly, so-called millennials are the most active generation of vegans, characterized by a very conscious and healthy lifestyle. Meat and dairy products are increasingly being rejected because they have an enormously high ecological footprint. In the future, it can be expected that sustainable, environmentally friendly measures will become a criterion for many consumers when making purchasing decisions. In addition, milk alternatives such as soy milk, almond milk and coconut milk are being used to replace milk-based ingredients.
Large food producers are expected to adhere to the vegan trend, which correlates with strong demand for dairy-free products. Manufacturers in the market for dairy-free products, in both the business-to-business and business-to-consumer segments, have opportunities to maintain and expand their market presence in relation to the competition.
One of the most important players when it comes to the future of dairy-free products is the North American region. The number of vegans there was estimated at 1.62 million in 2017. The regions of Europe and the Asia-Pacific are also strongly represented in the market for veganism.