Market Trends of united states dairy alternatives Industry
The surge in dairy alternatives consumption in North America: driven by growing animal welfare concerns and investments in plant-based food companies
- The consumption of dairy alternatives per person is experiencing significant growth in the United States, supported by investments and innovative products. This trend is leading to more than 52% of US consumers showing a preference for plant-based foods. One of the primary reasons behind this shift is the increasing number of people adopting a vegan lifestyle to support animal welfare, given that factory farming, which lacks humane treatment of animals, is prevalent in the United States. As of 2022, 7% of US consumers adhered to a flexitarian diet, compared to over 12% who prefer a plant-based diet. Although individuals of all age groups in the United States are interested in plant-based foods, those in their 20s and 30s exhibit the highest level of interest.
- Governmental support plays a significant role in boosting the production and consumption of plant-based dairy products in the country. Recognizing the importance and growth potential of the plant-based food industry, the US government has taken initiatives to promote it. In 2021, plant-based food companies in the United States received a total of USD 5 billion in funding, marking a 60% increase from 2020. The most mature segment of the alternative industry, the plant-based alternatives sector, secured USD 1.9 billion in investments in 2021. As of 2021, 62% or 79 million US households purchased plant-based products, representing an increase from 61% or 77 million households in 2020. The options available at grocery stores are becoming increasingly diverse, with a wide range of dairy alternatives such as yogurt, milk, ice cream, and cheese. In 2021, a significant portion of the population chose non-dairy versions of butter (23%), ice cream (26%), milk (26%), yogurt (22%), and yogurt-based smoothies or drinks (27%).
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The production of dairy alternatives in the US: driven by rising consumer demand for plant-based and vegan diets, alongside health benefits and nutritional value
