Europe Dairy Alternatives Market Report and Forecast 2024-2032

Europe Dairy Alternatives Market Outlook

The Europe dairy alternatives market attained USD 4468.59 million in 2023. The market is expected to grow at a CAGR of 10.3% in the forecast period of 2024-2032 to attain USD 10840.51 million by 2032.              

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Growing Health Consciousness to Aid the Market Growth of Dairy Alternatives in Europe

Europe is a major producer of dairy alternatives and has a significant share in the global dairy alternatives market. The growing number of cases of milk allergies and lactose intolerance have made plant-based alternatives common, including soy milk, almond milk, and coconut milk. Soybeans and soya milk offer a healthy source of protein, calcium, and potassium. The rise in demand for plant-based goods has allowed the market to grow in the region in recent years. With recent releases, such as fresh soy beverages and hemp drinks etc., European manufacturers are now focused on new food innovations. The sector has been enabled to have a better presence by a well-established network of mainstream retailers. The major reasons for the expected market growth in the forecast period include food advances and significant customer demand for nutritionally balanced drinks.

Dairy Alternatives: Market Segmentation

Dairy alternatives refer to any food which mimics a milk-derived product. Plant-based products are most commonly made from grains, nuts and seeds, soaked and mixed into water to extract properties similar to milk. Plant-based dairy products contain proteins, sugars, vitamins, minerals, and calories, much like a cow, buffalo, sheep or goat milk. And their applications are also similar to dairy products.

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The market is divided on the basis of source into:

• Soy
• Almond
• Coconut
• Rice
• Oats
• Hemp
• Others

The market is bifurcated on the basis of formulation into:

• Plain
• Flavoured

In terms of application, the market is segmented into:

• Milk
• Ice Cream
• Yoghurt
• Cheese
• Creamers
• Others

The EMR report looks into the regional markets of dairy alternatives in Europe like Germany, United Kingdom, France, Italy, and Spain.

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Changing Dietary Patterns among Consumers to Aid the Market Growth of Dairy Alternatives

The need for dairy alternatives has been fueled by a growing number of cases of lactose intolerance among individuals in Europe. Demand for dairy alternatives in Europe has been further boosted by the antioxidant properties of dairy alternatives such as almond milk, which may have a preventive effect against cancer and heart disease. During the forecast period, the increasing number of health-conscious customers, along with consumer awareness of the health benefits of dairy alternatives, is likely to fuel demand growth. Further, various advancements such as more manufacturers launching gluten-free and lactose-free ranges are expected to propel the growth of the market in the forecast period. However, such products are available only in more developed parts of the continent, such as Germany.

Key Players in the Europe Dairy Alternatives Market

The report gives a detailed analysis of the following key players in the Europe dairy alternatives market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Kerry Inc.
• Danone SA
• Nestlé S.A.
• Doehler Group SE
• Oatly AB
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report