Plant-Based Dairy Alternatives Market to Hit $106.4 Billion by 2034
New York, Friday, 5 December 2025.
Driven by consumer demand for sustainable food, the plant-based dairy market is set to triple by 2034, signaling a major shift in global dietary preferences.
Market Growth and Consumer Trends
The global plant-based dairy alternatives market, valued at USD 34.1 billion in 2024, is projected to grow at a compound annual growth rate (CAGR) of 12.1%, reaching USD 106.4 billion by 2034 [1]. This surge is driven by increasing consumer demand for sustainable and ethical food choices, as individuals worldwide seek more environmentally friendly and health-conscious options [1].
Impact on the Dairy Industry
As the plant-based sector expands, traditional dairy industries are undergoing significant transformations. The growing popularity of plant-based milk, which generated USD 21 billion in 2024, underscores a shift in consumer preferences towards lactose-free and plant-derived options [1]. This shift is expected to influence dairy production practices, pushing companies to innovate and diversify their product lines [1].
Economic Implications
The economic impact of this growth is substantial, with supermarkets and hypermarkets, valued at USD 14.7 billion in 2024, expected to capture a significant portion of the market share, growing at a CAGR of 11.1% until 2034 [1]. This expansion is not only altering retail dynamics but also encouraging investment in plant-based innovations, such as advancements in cheese and yogurt alternatives [1].
Policy and Innovation
Policy changes, such as school nutrition programs incorporating plant-based beverages, are further stimulating demand [1]. Additionally, advancements in ingredient technology are supporting strong growth rates in segments like plant-based cheese and yogurt. Regulatory clarity, balanced pricing, and accountability for carbon emissions are expected to influence future product innovation and raw material sourcing [1].