Dairy Alternative Market - Global Industry Share 2023

Dairy alternative beverages are commonly referred as plant based milk that is processed through seeds, cereals and nuts.. These are low on cholesterol and have low fat content. Dairy alternative beverages are mainly consumed by dairy or lactose intolerant, vegans and consumers with milk allergies. The dairy alternative market is widely distributed through a series of distribution channels such as supermarkets, online stores, convenience stores, pharmacies and health food stores.

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One of the major factors driving this market is the increasing health awareness among the consumers. Consumers, who are extremely conscious about their health, prefer dairy alternatives as their choice of beverage. Shift in the consumer base towards vegan diet and vegan lifestyle due to several factors such as environment protection and animal rights is also driving the demand for dairy alternative products globally. In addition, increasing disposable income of the consumers is another factor driving the dairy alternatives market globally.

Cross-contamination of raw materials is one of the major factors restraining the growth of the

global dairy alternatives market. Cross contamination is a process by which bacteria or any other kind of microorganisms is transferred from one substance to another and the resultant being extremely harmful. In addition, high price of dairy alternative beverages is another factor restraining the global dairy alternative market as consumers might not resort to such products due to pricing issues.

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Lactose intolerance and dairy allergies is expected to serve as a potential opportunity to the dairy alternative market globally. The global dairy alternative market has been segmented in terms of product types into almond milk, oat milk, rice milk, hemp milk, soya milk and hazelnut milk. Soya milk is considered to be the largest contributor in terms of market share in the global dairy alternatives market. The demand for almond milk is also growing significantly. This is due to the several health benefits that are attached with almond milk such as the high content of calcium and vitamin.

The global dairy alternative market has been segmented into North America, Europe, Asia-Pacific and Rest of the World in terms of geographic segmentation. Asia Pacific is the largest market for dairy alternatives. Factors such as increasing health awareness among the consumers, increasing population and rise in the disposable income of the consumers are boosting the demand for dairy alternatives in Asia Pacific. North America is the second largest market for dairy alternatives after Asia-Pacific. Europe holds the third position in terms of market share after Asia Pacific and North America in the global dairy alternatives market. North America and Europe are considered to be growing markets of dairy alternative beverages.

Earth’s Own Food Company Inc., Eden Foods Inc., Organic Valley Family of Farms, Grupo Le Pascual Sa, Living Harvest Foods Inc., Panos Brands LLC, The Hein Celestial Group Inc., The Whitewave Foods Company, Sunopta Inc.,The Bridge S.R.L., OATLY A.B., Blue Diamond Growers Inc., are some of the major players operating in the global dairy alternative market.

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