Category: Soy
Soy market research reports by Euromonitor International
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Plant-Based Dairy in Portugal
Plant-Based Dairy in Portugal Plant-based dairy continued to see healthy growth in retail volume terms in 2023. As the number of lactose-intolerant, flexitarian and vegan consumers continues to grow in Portugal, demand for plant-based alternatives to traditional dairy products is on the rise. Plant- ... Read More
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Plant-Based Dairy in Canada
Plant-Based Dairy in Canada In 2023, the growth trajectory of plant-based dairy exhibits a stabilisation in comparison to 2022, while overall demand remains robust. The appeal of plant-based dairy products remains consistent, fuelled by a confluence of factors, including heightened awareness of heal ... Read More
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Plant-Based Dairy in the Czech Republic
Plant-Based Dairy in the Czech Republic With the increased popularity of plant-based products, many people are making these products at home. This trend was mostly visible during the COVID-19 pandemic, when people spent more time in the household; however, the worsening economic situation of 2022 bo ... Read More
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Plant-Based Dairy in Dominican Republic
Plant-Based Dairy in Dominican Republic While sales are still relatively low, there is an appetite for plant-based dairy and it is expected to register very healthy current value and volume growth in 2023. Value sales are largely driven by younger consumers, which consider plant-based products to be ... Read More
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Plant-Based Dairy in South Africa
Plant-Based Dairy in South Africa Demand for plant-based dairy products continues to grow locally, with other plant-based milk set to see the strongest retail volume growth in 2023, albeit from a low base. Plant-based milk remains by far the biggest category, thanks its wide availability across supe ... Read More
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Plant-Based Dairy in Spain
Plant-Based Dairy in Spain Plant-based dairy has been less affected by inflation because it does not depend on raw milk prices, which skyrocketed in 2022. Furthermore, the prices of other plant-based ingredients have remained within reasonable margins. Additionally, producers have been able to maint ... Read More
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Plant-Based Dairy in Hungary
Plant-Based Dairy in Hungary As in many countries, Hungary is seeing a notable rise in interest in plant-based diets, with many consumers looking to cut down their consumption of meat and dairy products, even if they are not fully committing to vegetarian or vegan diets. Globally, this trend is bein ... Read More
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Plant-Based Dairy in Vietnam
Plant-Based Dairy in Vietnam The consumption of plant-based dairy remains a prominent and enduring trend within the broader dairy industry in 2023. The rise in popularity of the health and wellness and sustainability movements has significantly contributed to the increase in retail and foodservice v ... Read More
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Plant-Based Dairy in New Zealand
Plant-Based Dairy in New Zealand Private label lines from Foodstuffs and Woolworths have been performing well across multiple dairy categories. Their cheaper price point makes them an appealing choice for customers at a time when household budgets are limited. This has been no different for plant-ba ... Read More
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Plant-Based Dairy in Poland
Plant-Based Dairy in Poland In recent years, there has been a marked shift in the range of products available on store shelves in Poland, with plant-based milks now available in almost every shop, offering a wide selection. Similarly, once hard to find, plant-based yoghurts and vegan cheese substitu ... Read More
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Plant-Based Dairy in Latvia
Plant-Based Dairy in Latvia Plant-based dairy has grown rapidly from a low base in Latvia; however, growth is slowing due to the high prices of plant-based products as the purchasing power of the population is declining due to economic uncertainty in the country. Consuming fewer animal-based product ... Read More
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Plant-Based Dairy in Bosnia and Herzegovina
Plant-Based Dairy in Bosnia and Herzegovina Consumer demand for plant-based dairy picked up in 2023, resulting in strong double-digit current value growth and a better performance in retail volume sales compared to the previous year. There is a growing appetite for dairy alternatives and plant-based ... Read More
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Plant-Based Dairy in Saudi Arabia
Plant-Based Dairy in Saudi Arabia Dairy products have established an important role in the diets of many Saudi Arabian consumers. However, in line with many markets around the world, Saudi Arabia is seeing a growing interest in plant-based alternatives that is being supported globally by rising conc ... Read More
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Plant-Based Dairy in the United Arab Emirates
Plant-Based Dairy in the United Arab Emirates The vast majority of consumers typically consume dairy products, but as the health and wellness trend spreads throughout the country, a niche segment of the population has shown an increasing preference for plant-based foods. Hence, plant-based dairy has ... Read More
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Plant-Based Dairy in Israel
Plant-Based Dairy in Israel The demand for plant-based and dairy-free products continues to grow in Israel in 2023. This demand started with consumers who were allergic to lactose or had other health issues whereby they could not eat dairy. However, there has also been a continual rise in veganism i ... Read More
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Plant-Based Dairy in Malaysia
Plant-Based Dairy in Malaysia “Other” plant-based milk is projected to continue to see dynamic retail volume and current value and foodservice volume growth to continue to gain on soy drinks over 2023. “Other” plant-based milk is increasingly present on menus in foodservice establishments, such as s ... Read More
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Plant-Based Dairy in France
Plant-Based Dairy in France Retail demand for plant-based dairy in France continues to fall in 2023, with the exception of plant-based cheese, which only entered the local market in 2020 and thus is growing from a low base. Plant-based dairy enjoyed significant growth earlier in the review period, d ... Read More
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Plant-Based Dairy in Australia
Plant-Based Dairy in Australia Plant-based milk has been growing steadily in Australia, maintaining both value and volume growth, when its dairy counterparts have struggled to grow in terms of the latter measure. In a more recent development, the growth of oat milk has also been outpacing other plan ... Read More
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Plant-Based Dairy in Greece
Plant-Based Dairy in Greece Plant-based milk is rising in popularity; the consumer base is widening with a growing number of people shifting to plant-based diets for reasons of health and wellness, in addition to avoiding products with lactose. As seen with vegan cheese, plant-based milk can be cons ... Read More
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Plant-Based Dairy in Estonia
Plant-Based Dairy in Estonia While sales are still relatively low, there is an appetite for plant-based dairy and it is expected to register very healthy current value and volume growth in 2023. Value sales are largely driven by younger consumers, who consider plant-based products to be healthier an ... Read More
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Plant-Based Dairy in China
Plant-Based Dairy in China Being a mature product, soy drinks registered fairly modest growth in retail current value terms in 2023. This was driven primarily by price adjustments made by leading players such as Zuming and Vitasoy, due to rising costs of soybeans and labour, rather than any real inc ... Read More
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Plant-Based Dairy in Hong Kong, China
Plant-Based Dairy in Hong Kong, China Retail volume sales of soy drinks have been growing at a slow but stable rate over the years, due to consistent consumer demand and the maturity of the category, with this trend set to be maintained in 2023. Soy drinks have been popular in Hong Kong for many yea ... Read More
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Plant-Based Dairy in Singapore
Plant-Based Dairy in Singapore The growth and adoption of other plant-based milk has flourished through foodservice, particularly fast-growing chained specialist coffee shops. In recent years, different other plant-based milk options have become more widely available in foodservice settings, leading ... Read More
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Plant-Based Dairy in Thailand
Plant-Based Dairy in Thailand Health and wellness trends continue to boost the popularity of plant-based dairy in Thailand. This is being driven by low-fat and low-sugar demands, as well as providing options for consumers who are allergic or intolerant to cow’s milk. Such factors are expected to mai ... Read More
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Plant-Based Dairy in Japan
Plant-Based Dairy in Japan Plant-based dairy is set to see a decline in retail volume terms in 2023, largely due to the decline in soy drinks, which accounts for nearly 85% of overall sales in retail value terms in plant-based dairy. Over the review period, soy drinks saw continuous growth, driven b ... Read More
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