Mexico Dairy Alternatives Market Report and Forecast 2024-2032

Mexico Dairy Alternatives Market Size

The Mexico dairy alternatives market reached approximately USD 347.45 million in 2023. The market is projected to grow at a CAGR of 9.90% between 2024 and 2032, reaching a value of around USD 822.97 million by 2032.

Mexico Dairy Alternatives Market Outlook

• As per the industry reports, Mexico imported around 14 million metric tons of soy from the United States in 2023, which can boost the growth of soy-based milk.

• Mexico is the seventh-largest producer of coconuts, estimated to witness 0.7 per cent year-on-year growth, which can aid the production of coconut-based milk.

• According to OurWorldInData.org, soy and oat milk are the most eco-friendly plant-based products, boosting their demand among environmentally conscious consumers.

Mexico Dairy Alternatives Market Growth

The rising trend towards health and well-being, growth of lactose-intolerant consumers, and shift in consumer preference towards plant-based products are crucial market drivers. This shift is heavily influenced by the multiple health benefits of dairy alternatives such as low risk of cholesterol and obesity.

Moreover, with the rising popularity of vegetarian, vegan, and flexitarian lifestyles, the demand for plant-based and dairy alternative food products has witnessed growth in the Mexican market. This trend is further supported by growing concerns related to animal welfare and the environmental impact of dairy production. This has further led the market participants to focus on implementing eco-conscious manufacturing practices that can mitigate carbon emissions.

Several companies are also offering innovative solutions such as a wide range of flavours in dairy alternatives such as milk, ice cream, and yoghurt, among others, to stand out among their peers. Such innovations may also include the usage of plant-based ingredients and low-calorie content to appeal to health-conscious consumers.

Mexico Dairy Alternatives Industry Segmentation

“Mexico Dairy Alternatives Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Source

• Soy

• Almond

• Coconut

• Rice

• Oats

• Hemp

• Others

Market Breakup by Formulation

• Plain

• Flavoured

Market Breakup by Application

• Milk

• Ice-Cream

• Yoghurt

• Cheese

• Creamers

• Others

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Convenience Stores

• Online Channels

• Others

Market Breakup by Region

• Central Mexico

• Northern Mexico

• Pacific Coast

• The Bajío

• Yucatan Peninsula

• Baja California

Mexico Dairy Alternatives Market Share

Based on source, the market is divided into soy, almond, coconut, rice, oats, and hemp, among others. Almond is expected to witness rapid growth in the market in the coming years as almond milk is laced with nutrients such as iron, magnesium, zinc, and copper, among others, which can lower the risk of heart diseases.

Leading Companies in the Mexico Dairy Alternatives Market

The market players are introducing novel and innovative flavours in their dairy alternative products to stay ahead of the competition.

• Danone S.A

• Nestle S.A

• Califia Farms LLC

• Others

Key Highlights of the Report