Dairy Alternatives Market Size is projected to reach USD 65.33 billion by 2030, growing at a CAGR of 12.3%: Straits Research

New York, United States, June 08, 2023 (GLOBE NEWSWIRE) -- A milk substitute resembles milk and can be consumed in the same ways as milk. Non-dairy beverages refer to a variety of substitutes, such as nut milk, grain milk, legume milk, and mock milk. Demand is expected to rise due to almond milk's rising popularity and high calorie, protein, fiber, and lipid content. It is anticipated that almond milk will have a competitive advantage over its rivals over the projection period due to its superior taste and texture.

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Growing Numbers of Lactose Intolerance Cases Drives the Global Market

Lactose intolerance is a common hereditary condition in Southeast Asian populations. Consumers who are lactose intolerant prefer lactose-free, plant-based alternatives to boost their calcium and vitamin intake. The demand for dairy substitutes is also expected to rise due to growing consumer health concerns and rising disposable income in developed and developing countries. Rising consumer awareness of a healthy diet and rising demand for foods with lower cholesterol and fat content are predicted to open up new opportunities for market competitors during the anticipated period.

High Health related benefits of Dairy Substances Creates Tremendous Opportunities

It is advantageous to use coconut milk to treat arthritis because it is high in vitamins and minerals. It is one of the primary magnesium sources and helps maintain blood pressure. Due to millennials' increased desire for coconut creams and yogurts, the market for dairy substitutes is expected to develop over the forecast period. Furthermore, those who struggle with obesity often prefer almond milk. It is healthier for weight management and has fewer calories than cow's milk. The product is expected to gain increasing traction as a daily dietary supplement since, unlike cow's milk, it prevents the growth of breast and prostate cancer cells.

Report Scope

Report Metric	Details
Market Size By 2030	USD 65.33 billion
Market Size in 2021	USD 23 billion
CAGR	12.3% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Source, By Product, By Distribution Channel
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	The WhiteWave Foods Company, Blue Diamond Growers, Vitasoy International Holdings Limited, Eden Foods Inc., Nutriops S.L., SunOpta Inc.
Key Market Opportunities	High Health related benefits of Dairy Substances
Key Market Drivers	Growing Numbers of Lactose Intolerance Cases

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Regional Analysis 

Asia-Pacific is the most significant shareholder in the global dairy alternatives market and is expected to grow at a CAGR of 13.40% during the forecast period. The market in the region is expected to grow quickly as a result of the rising popularity of plant-based products. Parents are paying more attention to newborn nutrition and the quality of milk formula in light of previous food safety incidents. The market is expected to expand as disposable incomes increase and awareness of baby allergies grows over the forecast period. Growing health concerns have led to an increase in consumer preference for dairy alternatives that are lactose-free, low-fat, and gluten-free.

North America is expected to boost at a CAGR of 12.25% during the forecast period. Growing consumer desire for nutrient-dense plant-based foods is projected to have a favorable impact on market growth. As the prevalence of milk intolerance in North America increases, it is predicted that demand for non-dairy products like soymilk and almond milk will increase.

Europe is expected to grow significantly over the forecast period. The market for dairy substitutes is expected to grow as consumer demand for nutrient-dense plant-based diets increases. More milk allergies and health issues are associated with the hazardous substances added to dairy products, which is expected to increase demand for dairy alternatives like soymilk, almond milk, and rice milk. According to forecasts, the European dairy alternatives market will rise due to the region's rising desire for nutritious foods and beverages. Manufacturers are also placing a lot of effort into developing new goods, like soy juice blends and fresh soy beverages.

Key Highlights

• The global dairy alternatives market size is estimated to reach USD 65.33 billion by 2030, growing at a CAGR of 12.3% during the forecast period (2022-2030).
• Based on the source, the dairy alternatives industry is bifurcated into soy, almond, coconut, rice, oat, and others. The soy milk segment is the highest contributor to the market and is expected to grow at a CAGR of 11.90% during the forecast period.
• Based on product, the dairy alternatives industry is bifurcated into milk, yogurt, ice cream, cheese, creamer, and others. The milk segment owns the highest market share and is expected to grow at a CAGR of 12.40% during the forecast period.
• Based on distribution, the dairy alternatives industry is bifurcated into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarket segment is the highest contributor to the market and is expected to grow at a CAGR of 11.90% during the forecast period.
• Asia-Pacific is the most significant shareholder in the global dairy alternatives market and is expected to grow at a CAGR of 13.40% during the forecast period.

Competitive Players

1. The WhiteWave Foods Company
2. Blue Diamond Growers
3. Vitasoy International Holdings Limited
4. Eden Foods Inc.
5. Nutriops S.L.
6. SunOpta Inc.

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Global Dairy Alternatives Market: Segmentation

By Source

• Soy Milk
• Almond Milk
• Coconut Milk
• Rice Milk
• Oat Milk
• Others

By Product

• Milk
• Yogurt
• Ice Cream
• Cheese
• Creamer
• Others

By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA

TABLE OF CONTENT

1. EXECUTIVE SUMMARY
2. RESEARCH SCOPE & SEGMENTATION
   1. Research Objectives
   2. Market Definition
   3. Limitations & Assumptions
   4. Market Scope & Segmentation
   5. Currency & Pricing Considered
3. MARKET OPPORTUNITY ASSESSMENT
   1. Emerging Regions / Countries
   2. Emerging Companies
   3. Emerging Applications / End Use
   4. Investment Landscape
   5. New Business Models / Revenue Streams
   6. TAM
4. MARKET TRENDS
   1. Drivers
   2. Market Warning Factors
   3. Latest Macro Economic Indicators
   4. Geopolitical Impact
   5. Human Factors
   6. Technology Factors
5. MARKET ASSESSMENT
   1. Porters Five Forces Analysis
   2. Value Chain Analysis
   3. Sales And Distribution Channel Analysis
   4. Average Pricing Analysis
   5. Patent Analysis
   6. M & A Agreements & Collabration Analysis
   7. Export Import Analysis
6. ESG TRENDS
7. GLOBAL DAIRY ALTERNATIVES MARKET SIZE ANALYSIS
   1. Global Dairy Alternatives Market Introduction
   2. By Source
      1. Introduction
         1. Source By Value
      2. Soy Milk
         1. By Value
      3. Almond Milk
         1. By Value
      4. Coconut Milk
         1. By Value
      5. Rice Milk
         1. By Value
      6. Oat Milk
         1. By Value
      7. Others
         1. By Value
   3. By Product
      1. Introduction
         1. Product By Value
      2. Milk
         1. By Value
      3. Yogurt
         1. By Value
      4. Ice Cream
         1. By Value
      5. Cheese
         1. By Value
      6. Creamer
         1. By Value
      7. Others
         1. By Value
   4. By Distribution Channel
      1. Introduction
         1. Distribution Channel By Value
      2. Supermarkets And Hypermarkets
         1. By Value
      3. Convenience Stores
         1. By Value
      4. Online Retail
         1. By Value
      5. Others
         1. By Value
8. NORTH AMERICA MARKET ANALYSIS
   1. Introduction
   2. By Source
      1. Introduction
         1. Source By Value
      2. Soy Milk
         1. By Value
      3. Almond Milk
         1. By Value
      4. Coconut Milk
         1. By Value
      5. Rice Milk
         1. By Value
      6. Oat Milk
         1. By Value
      7. Others
         1. By Value
   3. By Product
      1. Introduction
         1. Product By Value
      2. Milk
         1. By Value
      3. Yogurt
         1. By Value
      4. Ice Cream
         1. By Value
      5. Cheese
         1. By Value
      6. Creamer
         1. By Value
      7. Others
         1. By Value
   4. By Distribution Channel
      1. Introduction
         1. Distribution Channel By Value
      2. Supermarkets And Hypermarkets
         1. By Value
      3. Convenience Stores
         1. By Value
      4. Online Retail
         1. By Value
      5. Others
         1. By Value
   5. U.S.
      1. By Source
         1. Introduction
            1. Source By Value
         2. Soy Milk
            1. By Value
         3. Almond Milk
            1. By Value
         4. Coconut Milk
            1. By Value
         5. Rice Milk
            1. By Value
         6. Oat Milk
            1. By Value
         7. Others
            1. By Value
      2. By Product
         1. Introduction
            1. Product By Value
         2. Milk
            1. By Value
         3. Yogurt
            1. By Value
         4. Ice Cream
            1. By Value
         5. Cheese
            1. By Value
         6. Creamer
            1. By Value
         7. Others
            1. By Value
      3. By Distribution Channel
         1. Introduction
            1. Distribution Channel By Value
         2. Supermarkets And Hypermarkets
            1. By Value
         3. Convenience Stores
            1. By Value
         4. Online Retail
            1. By Value
         5. Others
            1. By Value
   6. Canada
9. EUROPE MARKET ANALYSIS
   1. Introduction
   2. By Source
      1. Introduction
         1. Source By Value
      2. Soy Milk
         1. By Value
      3. Almond Milk
         1. By Value
      4. Coconut Milk
         1. By Value
      5. Rice Milk
         1. By Value
      6. Oat Milk
         1. By Value
      7. Others
         1. By Value
   3. By Product
      1. Introduction
         1. Product By Value
      2. Milk
         1. By Value
      3. Yogurt
         1. By Value
      4. Ice Cream
         1. By Value
      5. Cheese
         1. By Value
      6. Creamer
         1. By Value
      7. Others
         1. By Value
   4. By Distribution Channel
      1. Introduction
         1. Distribution Channel By Value
      2. Supermarkets And Hypermarkets
         1. By Value
      3. Convenience Stores
         1. By Value
      4. Online Retail
         1. By Value
      5. Others
         1. By Value
   5. U.K.
      1. By Source
         1. Introduction
            1. Source By Value
         2. Soy Milk
            1. By Value
         3. Almond Milk
            1. By Value
         4. Coconut Milk
            1. By Value
         5. Rice Milk
            1. By Value
         6. Oat Milk
            1. By Value
         7. Others
            1. By Value
      2. By Product
         1. Introduction
            1. Product By Value
         2. Milk
            1. By Value
         3. Yogurt
            1. By Value
         4. Ice Cream
            1. By Value
         5. Cheese
            1. By Value
         6. Creamer
            1. By Value
         7. Others
            1. By Value
      3. By Distribution Channel
         1. Introduction
            1. Distribution Channel By Value
         2. Supermarkets And Hypermarkets
            1. By Value
         3. Convenience Stores
            1. By Value
         4. Online Retail
            1. By Value
         5. Others
            1. By Value
   6. Germany
   7. France
   8. Spain
   9. Italy
   10. Russia
   11. Nordic
   12. Benelux
   13. Rest Of Europe
10. APAC MARKET ANALYSIS
    1. Introduction
    2. By Source
       1. Introduction
          1. Source By Value
       2. Soy Milk
          1. By Value
       3. Almond Milk
          1. By Value
       4. Coconut Milk
          1. By Value
       5. Rice Milk
          1. By Value
       6. Oat Milk
          1. By Value
       7. Others
          1. By Value
    3. By Product
       1. Introduction
          1. Product By Value
       2. Milk
          1. By Value
       3. Yogurt
          1. By Value
       4. Ice Cream
          1. By Value
       5. Cheese
          1. By Value
       6. Creamer
          1. By Value
       7. Others
          1. By Value
    4. By Distribution Channel
       1. Introduction
          1. Distribution Channel By Value
       2. Supermarkets And Hypermarkets
          1. By Value
       3. Convenience Stores
          1. By Value
       4. Online Retail
          1. By Value
       5. Others
          1. By Value
    5. China
       1. By Source
          1. Introduction
             1. Source By Value
          2. Soy Milk
             1. By Value
          3. Almond Milk
             1. By Value
          4. Coconut Milk
             1. By Value
          5. Rice Milk
             1. By Value
          6. Oat Milk
             1. By Value
          7. Others
             1. By Value
       2. By Product
          1. Introduction
             1. Product By Value
          2. Milk
             1. By Value
          3. Yogurt
             1. By Value
          4. Ice Cream
             1. By Value
          5. Cheese
             1. By Value
          6. Creamer
             1. By Value
          7. Others
             1. By Value
       3. By Distribution Channel
          1. Introduction
             1. Distribution Channel By Value
          2. Supermarkets And Hypermarkets
             1. By Value
          3. Convenience Stores
             1. By Value
          4. Online Retail
             1. By Value
          5. Others
             1. By Value
    6. Korea
    7. Japan
    8. India
    9. Australia
    10. Taiwan
    11. South East Asia
    12. Rest Of Asia-Pacific
11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By Source
       1. Introduction
          1. Source By Value
       2. Soy Milk
          1. By Value
       3. Almond Milk
          1. By Value
       4. Coconut Milk
          1. By Value
       5. Rice Milk
          1. By Value
       6. Oat Milk
          1. By Value
       7. Others
          1. By Value
    3. By Product
       1. Introduction
          1. Product By Value
       2. Milk
          1. By Value
       3. Yogurt
          1. By Value
       4. Ice Cream
          1. By Value
       5. Cheese
          1. By Value
       6. Creamer
          1. By Value
       7. Others
          1. By Value
    4. By Distribution Channel
       1. Introduction
          1. Distribution Channel By Value
       2. Supermarkets And Hypermarkets
          1. By Value
       3. Convenience Stores
          1. By Value
       4. Online Retail
          1. By Value
       5. Others
          1. By Value
    5. UAE
       1. By Source
          1. Introduction
             1. Source By Value
          2. Soy Milk
             1. By Value
          3. Almond Milk
             1. By Value
          4. Coconut Milk
             1. By Value
          5. Rice Milk
             1. By Value
          6. Oat Milk
             1. By Value
          7. Others
             1. By Value
       2. By Product
          1. Introduction
             1. Product By Value
          2. Milk
             1. By Value
          3. Yogurt
             1. By Value
          4. Ice Cream
             1. By Value
          5. Cheese
             1. By Value
          6. Creamer
             1. By Value
          7. Others
             1. By Value
       3. By Distribution Channel
          1. Introduction
             1. Distribution Channel By Value
          2. Supermarkets And Hypermarkets
             1. By Value
          3. Convenience Stores
             1. By Value
          4. Online Retail
             1. By Value
          5. Others
             1. By Value
    6. Turkey
    7. Saudi Arabia
    8. South Africa
    9. Egypt
    10. Nigeria
    11. Rest Of MEA
12. LATAM MARKET ANALYSIS
    1. Introduction
    2. By Source
       1. Introduction
          1. Source By Value
       2. Soy Milk
          1. By Value
       3. Almond Milk
          1. By Value
       4. Coconut Milk
          1. By Value
       5. Rice Milk
          1. By Value
       6. Oat Milk
          1. By Value
       7. Others
          1. By Value
    3. By Product
       1. Introduction
          1. Product By Value
       2. Milk
          1. By Value
       3. Yogurt
          1. By Value
       4. Ice Cream
          1. By Value
       5. Cheese
          1. By Value
       6. Creamer
          1. By Value
       7. Others
          1. By Value
    4. By Distribution Channel
       1. Introduction
          1. Distribution Channel By Value
       2. Supermarkets And Hypermarkets
          1. By Value
       3. Convenience Stores
          1. By Value
       4. Online Retail
          1. By Value
       5. Others
          1. By Value
    5. Brazil
       1. By Source
          1. Introduction
             1. Source By Value
          2. Soy Milk
             1. By Value
          3. Almond Milk
             1. By Value
          4. Coconut Milk
             1. By Value
          5. Rice Milk
             1. By Value
          6. Oat Milk
             1. By Value
          7. Others
             1. By Value
       2. By Product
          1. Introduction
             1. Product By Value
          2. Milk
             1. By Value
          3. Yogurt
             1. By Value
          4. Ice Cream
             1. By Value
          5. Cheese
             1. By Value
          6. Creamer
             1. By Value
          7. Others
             1. By Value
       3. By Distribution Channel
          1. Introduction
             1. Distribution Channel By Value
          2. Supermarkets And Hypermarkets
             1. By Value
          3. Convenience Stores
             1. By Value
          4. Online Retail
             1. By Value
          5. Others
             1. By Value
    6. Mexico
    7. Argentina
    8. Chile
    9. Colombia
    10. Rest Of LATAM
13. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. Dairy Alternatives Market Share By Manufacturers
    3. Dairy Alternatives Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
14. MARKET PLAYERS ASSESSMENT
    1. The WhiteWave Foods Company
       1. Overview
       2. Business Information
       3. Revenue
       4. ASP
       5. Gross Margin
       6. Swot Analysis
       7. Recent Developmments
    2. Blue Diamond Growers
    3. Vitasoy International Holdings Limited
    4. Eden Foods Inc.
    5. Nutriops S.L.
    6. SunOpta Inc.
15. RESEARCH METHODOLOGY
    1. Research Data
       1. Secondary Data
          1. Major Secondary Sources
          2. Key Data From Secondary Sources
       2. Primary Data
          1. Key Data From Primary Sources
          2. Breakdown Of Primaries
       3. Secondary And Primary Research
          1. Key Industry Insights
    2. Market Size Estimation
       1. Bottom-Up Approach
       2. Top-Down Approach
       3. Market Projection
    3. Research Assumptions
       1. Assumptions
    4. Limitations
    5. Risk Assessment
16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
17. DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/dairy-alternatives-market/toc

Market News

• In April 2022, Wicked Foods, Inc., an American company that manufactures plant-based foods, unveiled its new line of plant-based ice creams and novelty items.
• In January 2022, Chobani LLC launched a new line of four-variety plant-based coffee creamers free of GMOs, artificial flavors, and sweeteners.

News Media

Global Non-dairy Creamer Market Growing at a Staggering CAGR of 7.2%

Global Butter Market Worth USD 65.9 Billion With a CAGR of 2.78%

Organic Rice Protein Market to Grow at a CAGR of 18.34% During 2022–2030

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Oat Milk Market: Information by Source (Organic and Conventional), Product (Plain and Flavored), Packaging (Cartons and Bottles), Distribution Channel (Grocery Store, E-Commerce), and Regions-Forecast Till 2031

Coconut Milk Market: Information by Packaging Type (Plastic Bottles, Tetra Packs), Category (Organic, Conventional), End-Users (Household, Food Services), and Region — Forecast till 2030

Plant-based Food Colors Market: Information by Product Type (Carotenoid, Annatto), Application (Dairy Foods, Others), Form (Liquid and Powder), Region–Forecast till 2029

Plant-Based Meat Market: Information By Source (Pea, Wheat, Soy, And Others), Product (Burgers), Type (Chicken), End-User), Storage (Refrigerated), Region (North America) – Forecast Till 2031

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