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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Formulation |
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| Breakup by Application |
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| Breakup by Country |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 2023, the Europe dairy alternatives market reached a value of nearly USD 4468.59 million.
The market is projected to grow at a CAGR of 10.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 10840.51 million by 2032.
The major market drivers include the increasing health consciousness, surging launches of gluten-free and lactose-free products, and the growing consumer awareness regarding the health benefits of dairy alternatives.
The rising demand for plant-based products, the increasing prevalence of lactose intolerance among individuals, and the antioxidant properties offered by dairy alternatives are the key trends propelling the market demand.
The major countries in the market are Germany, the United Kingdom, France, Italy, and Spain, among others.
The significant segments based on source considered in the market report are soy, almond, coconut, rice, oats, and hemp, among others.
The several segments based on formulation of the product considered in the market report are plain and flavoured.
The different applications of dairy alternative are milk, ice cream, yoghurt, cheese, and creamers, among others.
The major players in the market are Kerry Inc., Danone SA, Nestlé S.A., Doehler Group SE, and Oatly AB, among others.
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