Dairy Alternatives Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: Groupe Danone, Vitasoy International Holdings, Freedom Food Group Limited

Registering a CAGR of 12.6% over the forecast period, the market value of Dairy Alternatives is expected to reach US$ 53.6 billion in the year 2027.

Dairy Alternatives Market Overview

Dairy alternatives are foods made from plant-based milk rather than animal products such as cheese and yogurt. The global dairy alternatives market is divided into three categories: type, distribution channel, and geography. The market is divided into two types: food and beverages. The market is divided into frozen desserts, yogurt, and others based on food type. The market is divided into beverage types such as soy milk, almond milk, coconut milk, rice milk, and others. The market is divided into supermarkets/hypermarkets, convenience stores, online stores, and others based on the distribution channels.

The perceived health benefits of consuming dairy-alternative products over conventional dairy products are the primary driving factor for the market under consideration. However, one of the market's restraining factors is the high production cost of dairy alternatives. A shift in consumer focus toward nutritional values such as high vitamin and protein content and low-calorie content of milk is likely to influence the growth trajectory of the global dairy alternatives market in the near future.

The market is gaining traction and experiencing high demand as a result of changes in consumer eating habits and diet trends. The rising number of milk allergies and lactose intolerance cases is expected to drive demand for dairy alternatives even further over the forecast period. Many foods and beverage products now use dairy alternatives to appeal to the growing consumer base that prefers plant-based and other dairy alternatives. Soy milk is expected to gain popularity among elderly and female consumers in the United States because it contains isoflavones, which are said to lower the risk of heart disease and breast cancer. Soy also contains phytoestrogen, which works in the same way as the female hormone estrogen. Drinking soy milk is popular among women as an alternative therapy for increasing estrogen levels, which is expected to drive the market further.

Who are the Major Players in the Dairy Alternatives Market?

The global Dairy Alternatives includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Groupe Danone, Vitasoy International Holdings, Freedom Food Group Limited, Kikkoman Corporation Campbell Soup company and others.

Industry News and Updates:

• In March 2020, Melt Organic introduced Unsalted Butter Sticks. The product is made from a unique combination of fruit and plant oils, including certified organic, non-GMO coconut oil. This product was created in response to consumer demand for an unsalted product for baking and cooking.


• In November 2021, Vicocreme is a new product from Upfield's alternative brand Violife. It's made with seven natural ingredients, including a coconut and rapeseed oil blend, lentil protein, natural flavour, maize starch, and trace amounts of beet sugar and rock salt. The new vegan product is free of dairy, soy, gluen, lactose, nuts, preservatives, and emulsifiers.

What are the major Applications, Types, and Regions for the Dairy Alternatives Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• Soy Milk


• Almond Milk


• Coconut Milk


• Rice Milk


• Others

By Application, it is segmented into

• Food


• Functional beverages

Key Market Trends

Increased Use of Plant-Based Milk

With increased health consciousness, consumers are preferring healthy foods such as plant-based milk because it is lactose-free; this is also because lactose-free food can have several health benefits. Some of the primary reasons are that it aids in weight loss and that lactose-free food products enable accurate digestion, thereby strengthening an individual's gut. Furthermore, due to the global spread of diseases that can cause a variety of health problems, consumers are preferring lactose-free food products, which can reduce the effect of antimicrobials in the body. As an example, Soy milk is one such popular product among consumers because it is plant-based milk with no lactose. Soy milk has several health benefits as well as being cholesterol-free and low in fat percentage. Dairy alternatives are very important in vegan diets because they provide balanced nutrients to compensate for the lack of meat and dairy consumption. This has increased consumer preference for products containing dairy alternatives.

Dairy Alternatives Market Regional Analysis

Asia-Pacific is the dairy alternatives market's fastest-growing region. The growing number of lactose-intolerant people in this region is driving up the demand for dairy alternatives. The Asia-Pacific health and wellness trend has brought food intolerances and allergies to the forefront of modern consumers' minds, increasing their consumption of dairy alternative products. Soy-based alternatives are widely preferred in this region, resulting in the establishment of companies such as Vitasoy International Holding, which offers a diverse portfolio of soy-based products.

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The Dairy Alternatives Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Dairy Alternatives Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Dairy Alternatives Market report scope?

Scope of the Report covers Dairy Alternatives Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Dairy Alternatives Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.

Key Takeaways from this Dairy Alternatives Report

• Evaluate Dairy Alternatives market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the Dairy Alternatives market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Dairy Alternatives Market is studied from 2017 - 2027.

What is the growth rate of the Dairy Alternatives Market?

The Dairy Alternatives Market is growing at a CAGR of 12.6% over the next 5 years.

Who are the key players in Dairy Alternatives Market?

Groupe Danone, Vitasoy International Holdings, Freedom Food Group Limited, Kikkoman Corporation Campbell Soup company

What regions does this Dairy Alternatives Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Dairy Alternatives Market?

Soy Milk, Almond Milk, Coconut Milk, Rice Milk, Others

What are the major end-use applications of Dairy Alternatives Market?

Food, Functional beverages

 

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