Jersey City, New Jersey, March 21, 2024 (GLOBE NEWSWIRE) -- The Global Dairy Alternatives Market is projected to grow at a CAGR of 10.68% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 30.49 Billion in 2024 and is expected to reach USD 62.03 Billion by the end of the forecast period.
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Browse in-depth TOC on “Dairy Alternatives Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | The White Wave Foods Company (US), Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium (Australia), Eden Foods Inc. ( US), Freedom Foods Group Limited (Australia) |
| SEGMENTS COVERED | By Source, By Application, By Distribution Channel, By Formulation, and By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Dairy Alternatives Market Overview
Health Consciousness Spurs Growth: The Dairy Alternatives Market is witnessing a growth as health-conscious consumers actively seek nutritional options. Plant-based products provide a more healthful option compared to conventional dairy, which is leading to increased demand and promoting the growth of the market.
Sustainability Imperative Ignites Demand: The emphasis on sustainability drives the growth of the Dairy Alternatives Market. Businesses are taking use of eco-friendly solutions to address growing environmental concerns. By doing so, they position themselves as leaders in sustainability and also meet the demand from consumers.
Technological Advancements Drive Innovation: Technological progress drives innovation in the Dairy Alternatives Market. Innovative solutions appeal to discerning consumers, leading to increased sales and market expansion due to improved taste and texture, as well as enhanced nutritional profiles.
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Taste and Texture Challenges Hinder Adoption: Although dairy substitutes have a number of health benefits, issues with flavor and texture have limited their acceptance. Successfully addressing these obstacles is crucial for gaining consumer trust, stimulating market expansion, and optimizing financial gains.
Price Sensitivity Impacts Market Penetration: The price sensitivity of consumers poses a challenge to the successful entry of dairy alternatives into the market. Striking a balance between cost-effectiveness, excellence, and environmental responsibility is crucial in order to attract budget-conscious customers while also ensuring profitability and market dominance.
Regulatory Hurdles Create Compliance Complexities: Dairy Alternatives Market companies have difficulties in navigating intricate regulatory frameworks. Complying with various standards and labeling requirements in different locations is essential for assuring adherence, reducing risks, and maintaining a strong market presence.
Geographic Dominance:
The Asia Pacific region had the highest proportion of the dairy alternative market. The significant market dominance in this area can be linked to the growing process of urbanization, the diversification of dietary habits, and the liberalization of foreign direct investment in the food industry. In addition to these factors, the rise in income, purchasing power, rapid expansion of the middle-class population, growing consumer awareness about health and fitness, and increasing demand for nutritious and healthy products offer favorable opportunities for market players to expand and diversify in the food sector of the region.
Dairy Alternatives Market Key Players Shaping the Future
Major players, including The White Wave Foods Company (US), Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium (Australia), Eden Foods Inc. ( US), Freedom Foods Group Limited (Australia), Ecomil (Spain), Earth’s Own Food Company Inc. (Canada), Triballat Noyal (France), Valsoia SpA (Italy), Dohler (Germany), Panos Brands (US), Green Spot Co., Ltd (Thailand), Hiland Dairy (US), Ripple Foods (US) and Califia Farms (US). play a pivotal role in shaping the future of the Dairy Alternatives Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Dairy Alternatives Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Dairy Alternatives Market into Source, Application, Distribution Channel, Formulation, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Dairy Alternatives Market, please Contact Verified Market Research®.
Dairy Alternatives Market, by Source
- Almond
- Soy
- Oats
- Hemp
- Coconut
- Rice
- Others
Dairy Alternatives Market, by Application
- Cheese
- Creamers
- Yogurt
- Ice Creams
- Milk
- Others
Dairy Alternatives Market, by Distribution Channel
- Supermarkets
- Health Food Stores
- Pharmacies
- Convenience Stores
- Online Stores
Dairy Alternatives Market, by Geography
North America
- U.S
- Canada
- Mexico
Europe
- Germany
- France
- U.K
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
ROW
- Middle East & Africa
- Latin America
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