Plant-based milk will likely continue to provide strong opportunities for players over the forecast period. Intensifying competition will encourage companies to continue to expand their ranges of offerings to include rice, oat, coconut, almond, and quinoa-based products, as well as combinations of these types.
Plant-based cheese is still a small product area in Portugal, with cultural factors, including an overwhelming preference for traditional and local dairy-based cheeses), combined with high prices being the main factors delaying its development. During the review period, this situation was not helped by rising inflation, which led to a decline in consumer purchasing power.
As the number of vegans and flexitarians continues to grow, plant-based yoghurt is anticipated to gain significance over the forecast period. New types of plant-based yoghurt are expected to appear, not only based on soy but also coconut, almond and oat.
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Plant-based Dairy
This is the aggregation of plant-based milk, plant-based yoghurt and plant-based cheese. Please note that plant-based dairy products that are not milk, yoghurt or cheese are tracked under their core dairy categories (e.g. powder milk, margarine and spreads, coffee whiteners etc.)
See All of Our DefinitionsThis report originates from Passport, our Plant-based Dairy research and analysis database.
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