Market Trends of canada dairy alternatives Industry
Increasing preference for functional plant-based ingredients, environmental awareness, and concerns about animal welfare drive the market
- During the review period (2017-2022), the country witnessed a favorable per capita consumption of 26.29%, primarily because of the rising vegan population and the health benefits of dairy substitutes. As of 2022, 1.7 million consumers considered themselves vegan. The rising preference for functional and fortified plant-based ingredients like soy, oats, and almonds has also increased the demand for dairy alternative products in Canada.
- In 2021, sales of plant-based products in Canada amounted to nearly CAD 650 million. Canadian consumers are now more open to trying plant-based alternatives, especially the younger generation, influenced by health and environmental factors. Over 52% of Canadians choose plant-based diets and seek ways to consume more plant-based meals. In addition, growing environmental awareness and concerns about animal welfare are regarded as major market drivers in Canada. During the forecast period, media coverage highlighting the impact of dairy production on global warming and greenhouse gases will likely encourage consumers to switch to plant-based foods and beverages.
- There is a constant rise in the per capita consumption of dairy alternatives in Canada due to their wide applications in different food products like cheeses, yogurts, confectionery, beverages, and desserts. Products like non-dairy cheeses, dips, sauces, and spreads collectively had a sales value of USD 47 million in 2021.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Environmental conditions largely impact the production of various raw materials in the market
