GLOBAL—Global food-tech accelerator Eatable Adventures has released its latest report, The Future of Dairy, which analyzes how technological innovations and collaborative efforts are transforming the global dairy industry.
The report focuses on key industry shifts, such as the growing emphasis on sustainability, the rise of hybrid products, and the importance of strategic partnerships.
Drawing on insights from medium to large companies across Europe, Latin America, and Asia, the report shed light on the industry’s future trajectory and the technological developments necessary to address its most pressing challenges.
The global dairy industry, valued at US$944 billion in 2023, is projected to grow to US$1.3 trillion by 2030, according to the IMARC Group.
With over 80% of the global population consuming dairy products, the sector faces mounting obstacles, including climate change, labor shortages, and fluctuating prices.
Eatable Adventures’ report highlighted the need for dairy manufacturers to adopt innovative strategies to maintain their competitive edge while advancing sustainability in response to evolving consumer demands.
One of the report’s key highlights is the rapid rise of plant-based dairy alternatives, which have gained significant mainstream traction in recent years.
In 2023, the global market for plant-based dairy alternatives was valued at US$12.6 billion, and it is expected to double by 2030, growing at a compound annual growth rate (CAGR) of nearly 11%.
Despite this remarkable growth, traditional dairy products continue to dominate the market, with many consumers choosing to experiment with plant-based options rather than fully replacing conventional dairy.
While investment in plant-based dairy alternatives peaked in 2020-2021, the sector saw a steep decline of over 90% in the following years.
However, the category is maturing, with a growing focus on late-stage investments aimed at scaling emerging technologies and improving the quality of plant-based products.
Key innovations such as precision fermentation and cell-based methodologies are gaining momentum, presenting transformative opportunities for dairy production and signaling a new era of technological progress within the industry.
In addition, the report emphasizes the critical role of open innovation in addressing the dairy industry’s challenges, particularly in driving advancements in sustainability practices.
Collaboration between corporations, start-ups, and research institutions is identified as a vital mechanism for accelerating technological breakthroughs and fostering long-term growth.
José Luis Cabañero, founder and CEO of Eatable Adventures, emphasized that partnerships between established companies and start-ups are essential for scaling emerging technologies and meeting market demands.
“These partnerships enable start-ups to scale faster while providing corporations with efficient access to new technologies,” Cabañero said.
“Success in the sector depends on the ability to scale technologies, achieve price parity, and meet evolving consumer preferences.”
He further explained that the report reflects the company’s vision for a technology-driven future for the food sector, where innovation not only enhances sustainability but also promotes best practices and benefits consumers globally.
“Industry leaders must actively shape the future rather than merely observe it,” Cabañero urged.
Despite the promising outlook, the report also highlights the challenges of aligning diverse stakeholders with varying strategic priorities, organizational cultures, and operational scales.
These differences can hinder collaboration, making it imperative for industry leaders to take a proactive approach in fostering partnerships that can generate innovative solutions and strengthen resilience within the dairy sector.
The report advocates for stakeholders to integrate cutting-edge technologies, improve efficiency, and drive sustainable progress across the global dairy landscape.
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