PROSPECTS AND OPPORTUNITIES
Price of plant-based dairy will remain a barrier for many consumers
Prices of plant-based dairy in Mexico remain significantly higher than those of traditional dairy products. Plant-based milk can cost over twice as much as cow's milk, and plant-based alternatives to cheese and yoghurt can be 40-60% more expensive.
Plant-based cheese likely to remain a niche in Mexico
Plant-based cheese continues to record the fastest growth – by double digits - albeit from a low base, as soy drinks and other plant-based milk drive overall demand for plant-based dairy in Mexico. Despite the strong growth rates and positive forecast, plant-based cheese is likely to remain a niche in the local market.
Plant-based has room for diversification beyond drinks
Plant-based innovation in dairy alternatives is expanding beyond a traditional focus on milk, and now encompasses cream, coffee whiteners and a variety of desserts, marking a new frontier in the dairy spectrum. Plant-based dairy in Mexico is still dominated by soy drinks and other plant-based milk, showing relevant room for expansion of other plant-based dairy options which are largely unexplored.
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Overview:
Understand the latest market trends and future growth opportunities for the Plant-based Dairy industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Plant-based Dairy industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Plant-based Dairy in Mexico report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Plant-based Dairy in Mexico?
- Which are the leading brands in Plant-based Dairy in Mexico?
- How are products distributed in Plant-based Dairy in Mexico?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Plant-based Dairy?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Mexico?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Plant-Based Dairy in Mexico - Category analysis
KEY DATA FINDINGS
Slow growth for plant-based dairy in Mexico
Dairy industry challenges plant-based claims
New launches from Danone target functionality and new categories
Price of plant-based dairy will remain a barrier for many consumers
Plant-based cheese likely to remain a niche in Mexico
Plant-based has room for diversification beyond drinks
Dairy Products and Alternatives in Mexico - Industry Overview
Dairy products and alternatives in 2024: The big picture
Key trends in 2024
Competitive Landscape
Channel developments
What next for dairy products and alternatives?
DISCLAIMER
The following categories and subcategories are included:
Plant-based Dairy
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- Soy Drinks
- Other Plant-based Milk
- Plant-based Yoghurt
- Plant-based Cheese
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 definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Plant-based Dairy research and analysis database.
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