The “Dairy Alternatives Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Dairy Alternatives Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global dairy alternatives market size was US$ 25.1 billion in 2021. The global dairy alternatives market is forecast to grow to US$ 53.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 10.7% during the forecast period from 2022 to 2030.
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Dairy alternative are meals and beverages that can be substituted for dairy products. Plant-based foods and beverages like soy milk, rice milk, and almond milk are considered to be a healthier alternative to dairy. Dairy substitutes are considered safe since they provide a variety of vital vitamins and minerals. Apart from that, they are also fat-free, cholesterol-free, and lactose-free.
Factors Influencing the Market
The demand for dairy alternatives is growing due to rising cases of lactose intolerance and dairy allergies caused by dairy products. Milk and other dairy foods, including yogurt, ice cream, cheese, etc., contain a high amount of lactose. Thus, the consumption of these products is declining, which will become opportunistic for the dairy alternatives market.
Growing changes in the tastes of consumers and rising awareness related to the health benefits of dairy alternatives will fuel the growth of the dairy alternatives market. In addition to that, the growing demand for organic foods will also contribute to the growth of the dairy alternatives market.
The trend of clean-label foods and drinks is growing due to rising consumer demand for organically grown products. As a result, it will accelerate the growth of the dairy alternatives market during the study period. On the flip side, allergies associated with plant-based products, such as tree nuts, and almonds, may limit the growth of the dairy alternatives market.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the demand for dairy alternatives increased significantly. Due to the pandemic, the demand for dairy alternatives has increased as consumers began focusing more on health. However, the market witnessed a moderate negative impact on the dairy alternatives market due to lockdown restriction, which led to supply chain disruptions.
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Regional Analysis
The Asia-Pacific dairy alternatives market is forecast to hold the highest market share due to the rapidly growing population of the region. Furthermore, growing awareness related to the health benefits of dairy alternatives will drive the overall market forward. Apart from that, rising cases of lactose intolerance and increasing health concerns related to the harmful effects of additives used in dairy products will also upsurge the demand for organic alternatives. As a result, it will fuel the growth of the dairy alternatives market.
Competitors in the Market
? Organic Valley
? Blue Diamond Growers
? SunOpta Inc.
? Earth’s Own Food Inc.
? Living Harvest Foods Inc.
? Kikkoman Corporation
? Rebel Kitchen
? Panos Brands LLC
? WhiteWave Foods Company
? Other Prominent Players
Market Segmentation
The global dairy alternatives market segmentation focuses on Source, Distribution Channel, Product, and Region.
By Source
? Soy
? Almond
? Coconut
? Rice
? Oats
? Others
By Distribution Channel
? Convenience stores
? Hypermarkets & supermarkets
? E-commerce platforms
? Other
By Product
? Milk
? Yogurt
? Ice Cream
? Cheese
? Creamer
? Others
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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