Press release
Dairy Alternatives Market Trends and Opportunities: Growth, Revenue, Industry Overview, Leading Manufacturers, and Regional Analysis 2024-2032 | The Hain Celestial, Blue Diamond Growers, SunOpta
Dairy Alternatives Market
Various factors propelling the demand for dairy alternatives include:
The global dairy alternatives market is primarily driven by rising cases of milk intolerance, as well as an increase in the number of people following vegan diets and avoiding animal-based goods.
As the market has grown in prominence, so have the number of product launches, acquisitions, and funding opportunities.
Increased milk allergies in the population, increased cases of lactose intolerance, changing consumer living standards, and expanding public health awareness are expected to drive demand for alternatives even further over the projection period.
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What Are Dairy Alternatives?
A milk substitute is anything that resembles milk and may be used in the same way as milk. Non-dairy beverages, nut milk, grain milk, legume milk, mimic milk, and substitute milk are other names for these things. For those who cannot tolerate lactose, a variety of dairy products are available without lactose. The vitamins and minerals found in conventional dairy products are also present in these. However, they also contain an enzyme known as lactase, which facilitates the breakdown of lactose and averts the development of symptoms.
Top Companies:
Major players across the globe are investing in research and development to develop new dairy alternatives that have similar flavor and composition compared to animal-based dairy products to cater to the increasing number of vegan people across the globe. Some of the leading companies in the dairy alternatives industry are:
The Hain Celestial
Blue Diamond Growers
SunOpta
Sanitarium Health and Wellbeing Company
Danone
Freedom Foods Group
Earth's Own Food Company
Triballat Noyal
Valsoia S.p.A
Panos Brands
Melt Organic
Oatly
Living Harvest Foods
Ripple Foods
Kite Hill
Califia Farms
Hudson River Foods Inc.
Daiya Foods Inc.
Pureharvest
Yoconut Dairy Free
Yumbutter.
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Regional Landscape:
Dairy Alternatives, Source Outlook (Revenue - USD Million, 2019 - 2032)
Soy
Almond
Coconut
Rice
Oats
Others
Dairy Alternatives, Product Outlook (Revenue - USD Million, 2019 - 2032)
Milk
Yogurt
Cheese
Ice cream
Creamer
Others
Segmental Breakdown:
The dairy alternatives market is mainly segmented on the basis of source, distribution channel, product, and region. Based on the product analysis, The milk-based dairy replacement product segment led the industry and earned the most income in 2020. The expanding older population in Europe has resulted in a preference for milk-based dairy choices.
Furthermore, according to distribution channel data, supermarkets and hypermarkets controlled the business and produced the most income in 2020. These are enormous retail establishments that often offer a wide range of retail effect varieties under one roof. Supermarkets are often located in residential areas to make it more convenient for customers; due to a scarcity of space near residential places, most hypermarkets and supermarket chains are developing outside of the city.
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