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Report Overview
The global dairy alternatives market size attained a value of approximately USD 22.84 Billion in 2023. The market is further expected to grow at a CAGR of around 13.40%, in the forecast period of 2024-2032, reaching a value of around USD 70.83 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Dairy Alternatives Market Regional Analysis
Europe is witnessing rapid growth in the global market for dairy alternatives, driven by a rising preference for dairy product alternatives due to health-related reasons like the avoidance of saturated fat consumption. Animal cruelty and animal rights issues are also major reasons for the avoidance of traditional dairy products in Europe. In countries such as Spain, shoppers prefer alternatives to real dairy due to the growing perception that plant-based foods are healthier than animal-based food products.
Meanwhile, in North America, in countries such as the United States, consumers prefer alternatives over traditional options due to health reasons like allergies or lactose intolerance, which is bolstering the regional dairy alternatives market. While older shoppers in the United States prefer alternatives to dairy due to health concerns like calories and cholesterol, younger consumers are looking to avoid milk products due to environmental and animal rights issues. Almond-based dairy alternatives have a higher acceptance among American shoppers over other options, followed by coconut and soy milk as popular alternatives products to traditional dairy options.
Dairy Alternatives Market Report Snapshots
Dairy Alternatives Market Size
Dairy Alternatives Market Analysis
Dairy Alternatives Market Regional Analysis
*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
The global market for dairy alternatives attained a value of USD 22.84 Billion in 2023.
The market is projected to grow at a CAGR of 13.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 70.83 Billion by 2032.
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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124