PROSPECTS AND OPPORTUNITIES
High prices limit growth potential of plant-based dairy despite rising consumer interest
Sales of plant-based dairy in Mexico are expected to rise over the forecast period overall. However, prices remain significantly higher than those of traditional dairy products, with plant-based milk often costing more than twice as much as cow’s milk, and plant-based alternatives to cheese and yoghurt priced 40–60% higher.
Plant-based cheese is set to experience fast growth, although it will remain a niche due to limited investment
Plant-based cheese is expected to post the fastest growth in plant-based dairy in Mexico over the forecast period, albeit from a low base. While soy drinks and other plant-based milk remain the main drivers of overall demand in the category, plant-based cheese has attracted growing interest.
Innovation is set to expand beyond plant-based milk, however, formulation remains a challenge
Plant-based innovation is set to expand beyond the traditional focus on milk to include cream, coffee whiteners, and a variety of desserts, marking a new frontier in the dairy spectrum. While plant-based dairy in Mexico continues to be led by soy drinks and other plant-based milk, there is significant room for expansion into less-developed subcategories that remain 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
Plant-based cheese drives value growth despite slowing volume momentum in plant-based dairy
GIFAN Internacional S de RL de CV leads, while local innovator Heartbest drives growth
Small local grocers drive sales while hypermarkets lead growth through promotions and wider access
High prices limit growth potential of plant-based dairy despite rising consumer interest
Plant-based cheese is set to experience fast growth, although it will remain a niche due to limited investment
Innovation is set to expand beyond plant-based milk, however, formulation remains a challenge
Dairy Products and Alternatives in Mexico - Industry Overview
Dairy products and alternatives in 2025: The big picture
Key trends in 2025
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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