Dairy Alternatives Market Will Reach USD 65.1 Billion By 2030

The dairy alternatives market has garnered USD 30.9 billion in revenue in 2023, and it is projected to rise at the rate of 11.2% from 2023 to 2030, to capture USD 65.1 billion by 2030. Dairy alternatives comprise similar amounts of vitamins and minerals to normal dairy items, apart from lactase, an additional enzyme that helps in digesting lactose, therefore defending sensitive individuals from lactose intolerance.

There is an increasing knowledge among customers of the fact that lactose-free products are healthy alternatives to those comprising traditional dairy. Advanced regions, like Western Europe and North America, have witnessed a substantial reduction in the consumption of a few precise dairy items in recent years, in terms of both value and sales volume.

A key trend throughout the globe is 100% plant-derived food or veganism. The rising requirement for dairy alternatives is due to the robust adoption of plant-based dairy and meat substitutes. Furthermore, plant-based food is also very helpful from an ecological perspective, as the meat and dairy industries are key producers of greenhouse gases.

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Moreover, the carbon and water footprints of milk and dairy items are significantly bigger compared to those of horticultural items. Thus, the growing emphasis on ecological sustainability is projected to advance the industry development.

On the basis of the source, the soy category dominated the dairy alternatives industry in recent years, and it is projected to stay in the leading position during the forecast period. This is mainly credited to the rising requirement for items with a vitamin, high zinc, iron, and calcium content in India and China. Furthermore, the rising eating of cholesterol-free and nutrition-rich substitute dairy items will fuel the need for soy items in the U.S.

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In 2022, the supermarket and hypermarket category accounted for the largest revenue according to distribution channels. This can be mainly due to the one-stop solutions offered by those outlets, which constitute an excellent choice of shopping for customers. The biggest retail outlets that provide a wide variety of goods under one roof are supermarkets and hypermarkets.

In 2022, the APAC region dominated the dairy alternatives industry, credited to the fast urbanization, growing awareness about the advantages of protein-rich food, increasing populace of the middle class, and its growing income. Furthermore, dairy substitutes are low in calories, cholesterol, and fat, therefore ideal for vegan, lactose-intolerant, and health-conscious customers.

According to the World Population Review, lactose intolerance is very common throughout Asian nations, mainly in East Asia, where 70-100% of the individuals may have it. People going through this syndrome have very sensitive stomachs and are suggested to not consume dairy items and shift to items resulting from plants.

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