Dairy Alternatives Market Size, Emerging Technologies and Future Growth Study

Dairy Alternatives Market is expected to grow at 12.5% through 2023 to 2029, reaching nearly USD 58.88 Billion.

Dairy Alternatives Market Report Scope and Research Methodology

Report Scope: The comprehensive report provides a detailed overview of the Dairy Alternatives Market, delving into the realm of plant-based and non-dairy products. With a focus on drivers, restraints, and regional insights, the report analyzes market dynamics, challenges, and opportunities. It explores the varied segments, encompassing almond milk, soy milk, and non-dairy milk, offering a comprehensive understanding of market trends.

Research Methodology: The insights presented in the report are backed by a robust research methodology, ensuring accurate and reliable data. The study incorporates statistical analysis, infographics, and presentations, offering a holistic view of market trends. The research also accounts for the impact of the COVID-19 pandemic on market dynamics, providing an in-depth analysis of the market's current and future conditions.

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What are Dairy Alternatives Market Dynamics?

Drivers: The rising prevalence of milk allergies and lactose intolerance globally is a major driver for the Dairy Alternatives Market. With approximately 65% of the world population estimated to have lactose mal-absorption, heightened awareness of lactose intolerance is expected to fuel market growth during the forecast period (2023-2029).

Restraints: Health concerns and allergies associated with certain plant-based dairy products, such as almond and coconut milk, pose a significant restraint. Allergies triggered by nut-based products, affecting respiratory tracts, are anticipated to impact the growth of nut-based dairy alternatives like almond milk.

Challenges: Price fluctuations stemming from raw material unavailability present a challenge in the dairy alternatives market. The oat milk manufacturing sector, for instance, is grappling with price volatility issues due to raw material shortages, potentially affecting market growth.

Dairy Alternatives Market Segmentation?

By Source:

Almond Milk: Dominated the market in 2022 and is expected to maintain its leading position, fueled by growing popularity among vegan consumers globally. Almond milk's perceived health benefits, particularly in kidney and heart-related conditions, contribute to its sustained demand.

Soy Milk: Anticipated to witness a high CAGR during the forecast period, attributed to easy availability of raw materials for soy milk production and the presence of cardio-protective omega-three fatty acids, contributing to market growth.

By Product:

Non-Dairy Milk: Held more than 70% of the market share in 2022 and is projected to continue its growth trajectory. Increasing preference for non-dairy products, such as ice cream and cheese, among consumers is a key driver for the non-dairy milk segment.

By Distribution Channel:

Supermarkets and Hypermarkets: Accounted for almost 40% of the market in 2022, driven by consumer preference for one-stop shopping. Convenience stores are expected to witness the highest growth in developing countries due to their prevalence in rural areas.

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Who are Dairy Alternatives Market Key Players?

1.Freedom Foods Group
2.Eden Foods
3.Nutriops S.L.
4.Earths Own Food Company
5.Triballat Noyal
6.Valsoia S.P.A
7.Dohler GmBh
8.Organic Valley
9.Panos Brands
10.Living Harvest Foods Inc.
11.Kikkoman Corporation
12.Rebel Kitchen
13.Melt Organic
14.Daiya Foods Inc.
15.Califia Farms
16.Hudson River Foods Inc.
17.Kite Hill

Table of content for the Dairy Alternatives Market includes:

Part 01: Executive Summary

Part 02: Scope of the Dairy Alternatives Market Report

Part 03: Global Dairy Alternatives Market Landscape

Part 04: Global Dairy Alternatives Market Sizing

Part 05: Global Dairy Alternatives Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

Asia-Pacific: Dominated the market in 2022, with China leading in almond milk imports. The rising demand for dairy alternatives in countries like Cambodia and China is contributing to the region's market dominance.

North America: Followed the Asia-Pacific region in market share in 2022, with the United States being the largest importer of almond milk. Canada also made significant imports, indicating the growing popularity of dairy alternatives in the region.

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