Dairy Alternatives Market is Projected to Reach $43.6 billion by 2028

The global dairy alternatives market is poised for significant growth, with an estimated value of USD 27.0 billion in 2023, projected to reach USD 43.6 billion by 2028 at a CAGR of 10.1%. Plant-based dairy alternatives are gaining traction due to their nutritional benefits, such as lower cholesterol levels and improved cardiovascular and diabetes management.

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Healthier and Sustainable Choice:

Dairy alternatives cater to consumers seeking a healthier and more sustainable option than traditional dairy products. Plant-based alternatives, including soy, almond, oat, and rice milk, offer lower fat and calorie content compared to cow's milk.

Addressing Allergies and Intolerance:

These alternatives provide a remedy for individuals with dairy intolerance or allergies, offering easily digestible and nourishing options like almond and coconut milk. Additionally, they are enriched with essential nutrients to support overall well-being.

Flavored Options on the Rise:

Flavored milk alternatives, closely mimicking the texture and flavor of traditional dairy milk, are witnessing substantial growth at 10.4% during the forecasted period. They are perceived as a healthier alternative to sugary dairy-based products, offering versatility for various culinary applications.

Almond Dominates:

Almond-based dairy alternatives dominate the market due to their rich nutritional profile, low calorie count, and suitability for vegans and lactose-intolerant individuals. Almond milk aligns with health-conscious consumer preferences, dietary constraints, and environmental consciousness, making it a favorite ingredient in various dishes.

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Europe's Growing Market:

Europe is experiencing rapid growth in the dairy alternatives market, driven by consumers' health consciousness, animal welfare awareness, and environmental sustainability concerns. The region's shift towards plant-based dairy alternatives is evident in increasing sales and product offerings by major retailers and manufacturers.

Key Players:

Leading companies in the dairy alternatives market, such as Nutriops S.L., Grupo Leche Pascua SA, Danone, and Oatly, are expanding and diversifying their portfolios to meet the rising demand for healthier and sustainable options.

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