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Plant-based lifestyles are becoming increasingly popular for several reasons, the most significant of which is related to consumer concerns for their health and the planet. The plant-based market has expanded as plant-based diets and lifestyles have become more accepted, particularly by younger generations. Popular everyday items which have seen staggering growth in innovation, variety and accessibility are items such as milk, cheese, and proteins.

The conscious consumer is wary and becoming more knowledgeable about the environmental impact of their decisions. According to new data, plant-based milk is currently receiving considerable attention for its crucial impact on overall health. As demand has soared, key producers and manufacturers of plant-based milk have focussed on increasing production capacity and innovating new flavours deriving from various plant-based ingredients to cater to a growing consumer base and demand.

The global plant-based milk market size is expected to reach a valuation of USD 19.8 billion in 2023, with an estimated compound annual growth rate of 9.9 percent over the next decade, with the market approximately valued to be at USD 47.2 billion by 2033.

Key factors driving consumers include increased awareness and concern over animal welfare and dietary sensitivities towards animalbased products. This trend has increased consumers turning toward vegan and vegetarian alternatives for everyday items.

Millennial and Generation Z consumers are the most vocal consumers of plant-based products. They are paying particular attention to the health benefits of plant-based products. This includes whether ingredients are organic and sustainably sourced. Millennials are becoming more knowledgeable about the adverse effects of food additives, artificial flavouring, and chemicals.

Consumer demand for plant-based products has also extended to plant-based proteins, with consumer trends towards plant-based diets driving the market growth. Like plant milk, plant-based proteins are becoming increasingly popular due to consumer concern for animal welfare, health, and environmentalism. The knowledgeable and conscious consumer is making decisions based on their products’ health and sustainability benefits, with a popular plant-based protein source, soy, being desired by consumers for its additional benefits and its use as an alternate protein source.

Soy protein has been shown to reduce the risk of heart disease, cancer, and other chronic diseases. It is also a good source of fibre and essential nutrients like iron and magnesium. Additionally, soy protein is a complete protein containing all the essential amino acids needed for human health. Other popular plant-based protein ingredients include wheat, pea, potato, rice, canola, corn, and more.

While plant-based proteins and milk have established a positive and tasty reputation, plantbased cheese has sometimes failed to equal its animal-based counterparts. However, demand for plant-based cheese has been consistent and will continue to grow with consumer interest and trends towards plant-based products. The market is expected to grow significantly over the next decade. Nuts such as cashews have become popular bases for plant-based cheeses. n