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.
Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol1068
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.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
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.
Get a Sample PDF copy of the report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol1068
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
Request Full Report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol1068
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
Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=Pol1068
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com/