Market Trends of asia-pacific non-dairy milk Industry
The increasing vegan population in the region, coupled with increasing milk allergies, is supporting the plant-based milk consumption in the region
- The consumption of different types of plant milk in Asia-Pacific has been on the rise for the past few years due to the growing vegan population. There are even vegan exhibitions/trade shows and music festivals conducted in different countries. For example, Australia has the third-highest percentage of vegans per capita globally. As of 2022, there are 2.5 million vegans and vegetarians' population in the country. Several vegan celebrities across the region, particularly celebrity chefs, have played a significant role in bringing plant-based lifestyles into the mainstream of dining and food culture. Thus, increasing the inclusion of soy milk in the daily diet, as it replaces conventional milk, strengthening the consumption patterns across the region.
- Among the dairy alternatives, plant-based milk like soy milk and almond milk had the majority share across the region in 2022. China is the leading country across the region in terms of consumption of dairy alternatives milk. Within plant-based milk, soy drinks have traditionally been the most popular in China due to the long-standing tradition of soy consumption and its wide availability.
- Consumers, especially those allergic to milk, are keen to consume plant-based milk products. Cow milk allergy is one of the common food allergies in young children. Many Japanese consumers are lactose intolerant and do not consume milk or milk products. As of 2022, in Australia, around 1 in 50 babies and young children showed signs of an allergy to cow's milk. Also, 45% of consumers are actively trying to reduce the number of animal products they consume. Thus, the per capita consumption of plant-based milk in Australia is estimated to increase by 4.74% in 2022-2023.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increasing innovations in the plant-based milk category is driving the production and use of soybeans and other cereals.
