Plant-based products claims have increased by 62% globally (CAGR, 2013-2017), according to new data from Netherlands-headquartered Innova Market Insights.
Increasing consumer interest in health, sustainability and ethics have been driving growth across platforms such as plant proteins, active botanicals, sweeteners, herbs and seasonings and colouring foodstuffs, says the
“The dairy alternatives market has been a particular beneficiary of this trend,” says Lu Ann Williams, director of innovation at Innova Market Insights. “With the growing availability and promotion of plant-based options to traditional dairy lines, specifically milk beverages, and cultured products such as yogurt, frozen desserts and ice cream,” she states.
The dairy alternatives category was largely pioneered by and continues to be led by beverages. Global sales of dairy alternative drinks are set to reach US$16.3bn in 2018 and they accounted for over 8% of global dairy launches recorded by Innova Market Insights in 2017, up from 7% over 2016. Actual global launches have more than doubled over a five-year period.
Spoonable non-dairy yogurt has also seen strongly rising levels of interest, but from a smaller base, with a 48% CAGR for the 2013-2017 period taking its share of dairy launches from less than 0.5% in 2012 to 1.5% in 2017. One in three US consumers have increased their consumption of plant-based milk/yogurt in the two years to the end of 2017.
“In the move to offer something new, we are starting to see an increasing variety of non-soy plant-based ingredients, including cereals such as rice, oats and barley,” notes Williams. “We also noticed an increase in nuts, such as almonds, hazelnuts, cashews, walnuts and macadamias, as well as coconut and more unusual options such as lupin, hemp and flaxseed.”
Interest in plant-based eating is clearly reflected in developments in the meat substitutes market, where global sales are set to grow to US$4.2bn by 2022. The range of ingredients used for meat substitutes includes vegetables and grains, as well as traditional sources such as soy and specialist manufactured brands such as Quorn and Valess.