The dairy alternatives market, in particular, has benefited from the trend, according to Innova Market Insights.
Plant-based innovation is flourishing. Growing consumer interest in health, sustainability and ethics is driving plant-derived ingredients and products into high popularity, according to global market research firm Innova Market Insights. The company said that plant-based product claims increased by 62% globally (compound annual growth rate, 2013-2017), with growth occurring on platforms such as plant proteins, active botanicals, sweeteners, herbs and seasonings, and coloring foodstuffs.
"The dairy alternatives market has been a particular beneficiary of this trend," said Lu Ann Williams, director of innovation at Innova Market Insights, “with the growing availability and promotion of plant-based options to traditional dairy lines, specifically milk beverages and cultured products such as yogurt, frozen desserts and ice cream.”