Press release
Dairy Alternative Market to Reach USD 46.8 Billion by 2034, Growing at a 7.3% CAGR | FMI
The global dairy alternative market is projected to be valued at USD 23.08 billion in 2024. Driven by increasing consumer demand for plant-based products, the market is expected to grow at a CAGR of 7.3% from 2024 to 2034, reaching a valuation of USD 46.83 billion by 2034.The global dairy alternatives market is witnessing a significant surge in demand, driven by the increasing consumer shift towards plant-based diets, rising cases of lactose intolerance, and growing awareness regarding environmental sustainability. The market is projected to grow at a robust pace, fueled by innovations in plant-based dairy formulations, rising investments in the sector, and expanding distribution channels globally.
Key drivers of this market include the growing prevalence of lactose intolerance and milk allergies, which affect a significant portion of the global population. Additionally, heightened health consciousness and environmental concerns are prompting consumers to seek sustainable and healthful alternatives to dairy products. The expansion of vegan and flexitarian populations worldwide further fuels demand, as does the increasing availability of dairy-free options in mainstream retail and foodservice outlets.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐๐จ๐๐๐ฒ!
https://www.futuremarketinsights.com/report-sample#5245502d47422d34383532
๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ:
โข The global dairy alternatives market is expected to experience strong growth from 2024 to 2034.
โข Soy, almond, oat, coconut, and rice milk remain the dominant plant-based alternatives.
โข Increasing health consciousness, lactose intolerance cases, and veganism drive market expansion.
โข North America and Europe lead the market due to high adoption rates and innovative product launches.
โข Asia-Pacific is emerging as a lucrative market due to shifting dietary preferences and increasing disposable incomes.
๐๐๐๐๐ง๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐๐ข๐ซ๐ฒ ๐๐ฅ๐ญ๐๐ซ๐ง๐๐ญ๐ข๐ฏ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ:
โข Rising Investment & Mergers: Major food and beverage companies are acquiring or partnering with plant-based dairy brands to expand their portfolios.
โข Product Innovation: Companies are launching fortified, sugar-free, and flavored dairy alternatives to cater to diverse consumer preferences.
โข Sustainability Initiatives: Increased focus on sustainable packaging and sourcing practices to attract eco-conscious consumers.
โข Increase in Private Label Brands: Retailers are launching their own dairy alternative brands, intensifying competition in the market.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐ซ๐จ๐ฃ๐๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐จ๐ฐ!
https://www.futuremarketinsights.com/reports/dairy-alternatives-market
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐
The dairy alternative market is known for its key players competing to gain a larger share of profit. Manufacturers are focusing more on innovation and substitutes of milk-based products, which is promoting the market to expand.
New players can easily enter the market as the processes involved in dairy alternative production do not require complex technologies. Key players can capitalize on this aspect to increase their market position. This is expected to enhance market competition during the forecast period.
๐๐จ๐ญ๐๐๐ฅ๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
โข In June 2023, Oatly Group AB introduced two flavors of oat-based cream cheese for vegans in the United States.
โข In November 2021, Blue Diamond introduced an extra creamy textured almond milk made from quality California-grown Blue Diamond almonds.
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
โข The Hain Celestial Group, Inc.
โข SunOpta Inc.
โข Danone
โข Oatly
โข Vitasoy International Holdings Limited
โข DAIYA FOODS INC.
โข Melt Organic
โข Living Harvest Foods Inc.
โข Ripple Foods
โข Earth's Own Food Company Inc.
โข ADM
โข The Whitewave Foods Company
โข Eden Foods, Inc.
โข Nutriops, S.L.
โข Freedom Foods Group Ltd.
โข Blue Diamond Growers
โข CP Kelco
โข Organic Valley Family of Farms
โข Others
๐๐ง-๐๐๐ฉ๐ญ๐ก ๐๐๐ข๐ซ๐ฒ ๐๐ฅ๐ญ๐๐ซ๐ง๐๐ญ๐ข๐ฏ๐๐ฌ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ, ๐๐จ๐ฏ๐๐ซ๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ญ๐ซ๐๐ง๐๐ฌ, ๐ซ๐๐ฌ๐ญ๐ซ๐๐ข๐ง๐ญ๐ฌ, ๐๐ง๐ ๐๐ฎ๐ญ๐ฎ๐ซ๐ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐ฉ๐ซ๐จ๐ฌ๐ฉ๐๐๐ญ๐ฌ: https://www.futuremarketinsights.com/industry-analysis/dairy-alternatives
๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ฒ๐ฉ๐:
1. Plant-Based Milk: The most dominant segment, including soy, almond, oat, coconut, and rice milk.
2. Dairy-Free Yogurt: Rapidly gaining traction due to probiotics and gut health benefits.
3. Vegan Cheese: Increasingly popular in food service and retail due to improved taste and texture innovations.
4. Plant-Based Butter & Creamers: Growing adoption among consumers following plant-based diets.
5. Other Alternatives: Including dairy-free ice creams, spreads, and functional beverages.
๐๐ฒ ๐๐จ๐ฎ๐ซ๐๐:
โข Soy-Based Alternatives (High protein content and widespread availability)
โข Almond-Based Alternatives (Low-calorie and high in vitamin E, driving demand)
โข Oat-Based Alternatives (Creamier texture, gaining significant popularity)
โข Coconut-Based Alternatives (Rich flavor and increasing use in food service)
โข Rice & Other Sources (Allergy-friendly and preferred in infant nutrition)
๐๐ฒ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ง๐ง๐๐ฅ:
โข Supermarkets & Hypermarkets (Dominant channel due to high accessibility)
โข Online Retail (Growing significantly with increasing e-commerce penetration)
โข Convenience Stores (Popular for on-the-go plant-based dairy products)
โข Specialty & Health Stores (Preferred by vegan and health-conscious consumers)
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
โข North America: The leading region, driven by increasing veganism, strong retail networks, and innovative product launches by key brands.
โข Europe: Significant growth due to sustainability concerns, government initiatives, and high plant-based diet adoption.
โข Asia-Pacific: Rapidly growing market, fueled by urbanization, rising disposable incomes, and changing dietary habits, particularly in China, India, and Japan.
โข Latin America: Steady expansion due to increasing awareness of plant-based nutrition and growing lactose-intolerant populations.
โข Middle East & Africa: Emerging demand, supported by growing retail presence and rising preference for imported plant-based dairy brands.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ ๐๐'๐ฌ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐จ๐ง๐ ๐จ๐ข๐ง๐ ๐๐จ๐ฏ๐๐ซ๐๐ ๐ ๐ข๐งโฏ๐ ๐จ๐จ๐ ๐๐ง๐ ๐๐๐ฏ๐๐ซ๐๐ ๐ ๐๐จ๐ฆ๐๐ข๐ง:
Oral Clinical Nutrition Supplement Market Forecast Projections: https://www.futuremarketinsights.com/reports/oral-clinical-nutrition-supplements-market
Probiotic Yogurt Market Research Methodology: https://www.futuremarketinsights.com/reports/probiotic-yogurt-market
Probiotic Ingredients Market Sales Analysis: https://www.futuremarketinsights.com/reports/probiotic-ingredients-market
Eggshell Membrane Powder Market Growth: https://www.futuremarketinsights.com/reports/eggshell-membrane-powder-market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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