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Report Overview
The global dairy alternatives market reached a value of nearly USD 25.90 Billion in 2024. The market is assessed to grow at a CAGR of 13.40% during the forecast period of 2025-2034 to attain a value of around USD 91.08 Billion by 2034. The market is being driven by the growing health consciousness, the increasing trend of sustainability, product and flavour innovations, technological advancements, the rising prevalence of lactose intolerance, and the surging trend of healthy indulgence.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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Dairy-free products are going mainstream due to the growing consumer demand for ethical, sustainable, and healthy food choices and rising concerns regarding dairy allergies and lactose intolerance. As per the Plant Based Foods Association (PBFA), plant-based milk accounted for 16% of all retail milk dollar sales in the United States in 2021, contributing to USD 105 million in growth. With plant-based milk gaining traction, traditional dairy brands such as Nestle are foraying into the dairy alternatives market and innovating in terms of nutritional value.
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Almond milk is gaining significant popularity due to its low-calorie, mild flavour, nutritional fortification, versatility, and ease of incorporation in both sweet and savoury food and beverages. Reportedly, almond milk dominated retail sales of plant-based milk, representing 77% of overall volume in 2021 in the US. The growing popularity of almond milk is prompting manufacturers to diversify their product lines and introduce new almond-based products.
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Key players are focusing on product innovation and developing dairy alternatives with varied textures, flavours, and nutritional content, catering to the diverse flavour and dietary preferences of customers. For instance, in May 2024, Califia Farms announced the launch of its new Cookies ‘N Crème Almond Creamer, combining smooth almond milk with the indulgent flavour of cookies and cream ice cream.
Competitive Landscape
Key dairy alternatives market players are fortifying dairy alternatives with added nutrients like omega-3 fatty acids, vitamin D, B12, and calcium to appeal to health-conscious consumers. Dairy alternatives companies are also focusing on sourcing ingredients sustainably and utilise recyclable and plant-based packaging amid the rising trend of sustainability.
Key Industry Players
Kerry Group Plc
Kerry Group Plc, headquartered in Ireland and established in 1972, is a prominent company that offers food, beverage, pharmaceutical, and biotechnology solutions. It also provides various plant-based dairy beverages while addressing flavour, texture, and stability challenges. The company is a pioneer in tackling global health challenges by reducing excessive salt and sugar consumption, eliminating harmful compounds in foods, and enhancing fibre intake.
The Döhler Group
The Döhler Group, headquartered in Darmstadt, Germany, is a leading producer, marketer, and provider of technology-driven natural ingredients, integrated solutions, and ingredient systems for the global beverage, food, and nutrition markets. Established in 1838, the company’s comprehensive product portfolio of natural ingredients ranges from natural colours, natural flavours, natural health ingredients, and plant-based ingredients.
Ripple Foods Inc.
Ripple Foods Inc., based in California, United States, and founded in 2014, is a leading plant-based dairy alternative company. The company harnesses the power of yellow peas to make sustainable and plant-based milk and other dairy alternatives. Its CO2 output is 80% lower than dairy and lower than almond milk, coconut and cashew milk.
Eden Foods, Inc
Eden Foods, Inc, founded in 1968, is a prominent natural food company and a leading provider of traditional, organic, and purifying food. Headquartered in Michigan, United States, the company tracks the environmental impact of its food upstream from suppliers, through company operations, and downstream, monitoring its social and environmental impacts.
Other key players in the dairy alternatives market include Califia Farms LLC, Nestle S.A, Kite Hill, Elmhurst Milked Direct LLC, Pacific Foods of Oregon, LLC, SunOpta, Inc., Daiya Foods Inc., The Archer-Daniels-Midland Company, Danone S.A. (SILK), The Hain Celestial Group, Inc., and Earth's Own Food Company Inc., among others.
Dairy Alternatives Market Report Snapshots
Dairy Alternatives Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the market reached an approximate value of USD 25.90 Billion.
The market is assessed to grow at a CAGR of 13.40% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 91.08 Billion by 2034.
The major drivers of the market include growing consumer awareness regarding lactose-free dairy products, increasing demand for natural and plant-based dairy products, and rising disposable incomes.
The key dairy alternatives market trends include rising popularity of vegan diets, increasing product development, and enhanced accessibility of dairy alternatives products.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various sources of dairy alternatives in the market include soy, almond, coconut, rice, oats, and hemp, among others.
The significant formulations of dairy alternatives in the market are plain and flavoured.
The different applications of dairy alternatives in the market are milk, ice creams, yoghurt, cheese, and creamers, among others.
The leading distribution channels for dairy alternatives in the market are supermarkets/hypermarkets, convenience stores, health stores, and online retailers, among others.
The major players in the market, according to the report, are Kerry Group Plc, Califia Farms LLC, The Döhler Group, Ripple Foods Inc., Nestle S.A, Kite Hill, Elmhurst Milked Direct LLC, Pacific Foods of Oregon, LLC, SunOpta, Inc., Daiya Foods Inc., The Archer-Daniels-Midland Company, Danone S.A. (SILK), The Hain Celestial Group, Inc., Eden Foods, Inc, and Earth's Own Food Company Inc., among others.
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