The Global Dairy Alternatives Market at a CAGR of 12.5%, and it is expected to reach above USD 52.5 billion by 2028, over the forecast period.
The Dairy Alternatives Market refers to a growing industry that offers a range of plant-based products used as alternatives to traditional dairy products. These alternatives are designed to provide consumers with a lactose-free or vegan option to traditional dairy products, while also catering to individuals with allergies or intolerances to dairy.
The global dairy alternatives market is growing at a rapid pace due to several factors such as increasing demand for vegan and lactose-free products, growing health concerns related to the consumption of dairy products, and rising awareness of animal welfare. Dairy alternatives are widely used in a variety of food and beverage products, including milk, cheese, yogurt, ice cream, and others.
The market can be segmented by product type, source, distribution channel, and region. The product type segment includes milk, cheese, yogurt, ice cream, and others. The source segment includes soy, almond, coconut, rice, and others. The distribution channel segment includes supermarkets, convenience stores, online retail, and others.
The impact of COVID-19 on the dairy alternatives market has been mixed. While the pandemic has negatively impacted the food and beverage industry, it has also led to an increase in demand for healthy and plant-based products, which has driven the growth of the dairy alternatives market.
Overall, the dairy alternatives market is expected to continue growing in the coming years, driven by factors such as increasing demand for vegan and lactose-free products, growing health concerns related to the consumption of dairy products, and rising awareness of animal welfare.
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The main competitors in the global Market are:
The Hain Celestial, SunOpta, Danone, Freedom Foods Group, Earth’s Own Food Company, Valsoia S.p.A, Melt Organic, Oatly, Living Harvest Foods, Ripple Foods are some of the key players in Global Dairy Alternatives Market.
Dairy Alternatives Market Recent Developments:
- In November 2021, Almond Breeze Extra Creamy Almond Milk was introduced by Blue Diamond. This product's extra-creamy texture comes from the use of almond oil prepared from premium Blue Diamond almonds that are farmed in California.
- In February 2021, New organic oat creamer brand introduced by SunOpta. These creamers are delicious dairy substitutes for coffee drinkers since they are smooth, creamy, and ideal.
- In March 2020, Danone North America introduced new coconut milk yoghurt substitute pairings. These pairings have been Non-GMO Project Verified, Certified Gluten-Free, Dairy-Free, Nut-Free, and Soy-Free.
What Information does this report contain?
Historical data coverage: 2017 to 2022;
Growth Projections: 2023 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
Dairy Alternatives Market by Source, 2023 -2028, (In USD Million)
Dairy Alternatives Market by Product, 2023 -2028, (In USD Million)
Dairy Alternatives Market by Distribution Channel, 2023 -2028, (In USD Million)
Dairy Alternative Market Share, By Source:
The soy category generated the greatest revenue in 2020 and is anticipated to hold a leading position throughout the forecast period, according to the research of the dairy substitutes market by source. This can be due to the rising demand for goods that are high in vitamins, zinc, and iron for healthy bodies in nations like China and India. In addition, rising consumption of dairy alternatives that are high in nutrients and cholesterol-free is anticipated to boost soy demand in developed nations like the U.S. However, the other sources segment is anticipated to experience the fastest CAGR growth over the course of the forecast period due to better taste, lower cholesterol and fat content, as well as rising consumer demand for cholesterol-free products in nations like Canada. These factors are anticipated to create appealing growth opportunities for the dairy alternatives market.
Dairy Alternatives Market regional market (regional production, demand and country forecast): -
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and more.
The research broadside examines the global market's past, present, and future performance. The paper also examines the competitive environment at the moment, the dominant business models, and the probable advancement of offers from important companies in the upcoming years.
Dairy Alternatives Market Trends:
The market is expanding as a result of the global veganism trend's growth as well as various technological advancements in these items' production processes. Manufacturers, for instance, use enzymatic liquefaction processes and ultra-high temperature (UHT) processing to boost product production and nutritional content. It is anticipated that other reasons, including the availability of different sweetened, flavoured, and unsweetened varieties, aggressive marketing by producers, and expanding urbanisation globally, will propel the global dairy alternatives market in the upcoming years.
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Key aspects of the report include:
- Comprehensive examination of the global Dairy Alternatives market - Variable sector market dynamics.
- Market segmentation in depth.
- Sizes of the markets in terms of volume and value over time, both recent and future
- Latest changes and trends - Competitive Environment of the Global Dairy Alternatives Market.
- Strategy and products offered by key players.
- Prospective Markets and Isolated Areas with Possible Growth
- A Comparative Analysis of Barcode Mobile Computers and the World Barcode-Scanner Market.
Reasons To Buy Global Dairy Alternatives Report:
1. Current and future outlook of the Global Dairy Alternatives Market in developed and emerging markets.
2. Analysis of various market perspectives with the help of Porter's five forces analysis.
3. The segment that should dominate the Global Dairy Alternatives Market.
4. Regions that are expected to see the fastest growth during the forecast period.
5. Identifies the latest developments, global Dairy Alternatives Market shares and strategies used by major market players.
Furthermore, the market Research affirms the major global players in the Global Dairy Alternatives Market. Their key marketing strategies and advertising techniques have been highlighted to offer a clear understanding of the Global Market.
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