Rising global demand for plant-based milk alternatives - A potential blessing or curse to the NZ dairy industry?

Abstract

This presentation reports a review of existing scholarly and industry literature regarding the current trends in the global plant-based and bovine (mainstream dairy) milk industries. The rising global consumption of plant-based milk alternatives (dairy milk substitutes) in many parts of the world warrant an in-depth investigation. By synthesizing existing scholarly and industry literature, this paper highlights some of the factors driving the demand for plant-based milk alternatives, which may or may not be associated with the decline in consumption and sales of mainstream dairy milk in different parts of the world. Considering the importance of the dairy industry to the New Zealand economy, emerging global trends surrounding the substitution of mainstream dairy milk with other plant-based alternatives, which may affect the sales of dairy products, could be of concern to New Zealand. Based on this review, the article also attempts to explore possible collaborations between the New Zealand dairy and plant-based milk industries that could create an avenue for novel beverage products and help cushion any future effects of a decline in revenue from dairy milk.