A report published this week has found that the growth of the camel milk industry is being limited by the growth in popularity of plant-based milk.
Market research firm Technavio found that the camel milk industry is expected to grow at a compound annual growth rate of seven per cent. It has listed the rise in veganism as the main factor that is hindering its growth.
Camel milk is especially popular in countries such as Australia, Kenya and Ethiopia.
The Australian Wild Camel Corporation is planning to increase its heard size from 450 camels to 2,500 camels over the next two years.
The report states: “Plant-based milk alternatives such as soy milk, almond milk, and coconut milk are some of the major competitors for camel milk,”
“Medical benefits, rising health consciousness among consumers, and increasing vegan population are driving the demand for such products.”
The report also acknowledges that plant-based milk is low fat and low cholesterol.