The size of the dairy alternatives market was estimated to be USD 26.76 billion in 2023. From 2024 to 2030, the industry's total revenue is predicted to increase at a compound annual growth rate (CAGR) of 12.62%, or close to USD 61.49 billion.
Dairy Alternatives Market Overview
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Dairy Alternatives Market Scope and Methodology:
This report analyzes the Dairy Alternatives Market across different regions and detailed segmentation, providing a definition, description, and forecast. It encompasses various important market factors along with comprehensive qualitative and quantitative investigations. This includes reviewing the competitive landscape, competitor profiles, industry analysis, economic implications, important viewpoints, market trends, and market assessment.
The report delves into past data, focusing on different Dairy Alternatives Market scenarios and conducting a comprehensive evaluation of the factors influencing the market, including drivers, constraints, opportunities, challenges, and future trends. The report thoroughly examines market potential, market dynamics, growth opportunities, segmented markets, geographic scenarios, competition analysis, and predictions with the right methodology and assumptions. The study also involves evaluating the value chain, conducting PESTLE analysis, examining the impact, and conducting PORTER’s analysis.
Dairy Alternatives Market Regional Insights
The study thoroughly examines the markets in the Middle East, Africa, South America, Asia Pacific, Europe, and North America. Understanding the intricate dynamics of the global Dairy Alternatives Market is an essential component of the regional analysis provided in the report. The report contains details about the import and export of goods, market size, and growth rate for all countries. Furthermore, the report has also presented an overview of the latest advancements in the international Dairy Alternatives Market across different countries and regions.
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Dairy Alternatives Market Segmentation
by Source
Soy
Almond
Coconut
Rice
Oats
Others
According to the Source, the Soy category dominated the global market for dairy substitutes in 2023 and had the largest market share of more than 40%. Throughout the projected period, the segment is anticipated to increase at a CAGR of 9.42% and present dairy substitute manufacturers with profitable growth prospects. The two main reasons driving up demand for soy milk are a shift in consumer tastes toward vegan food and a rise in lactose sensitivity cases. The demand for milk substitutes, such as soy milk and almond milk, is being driven by the increase in the incidence of milk allergies. Soy milk is lower in calories than cow's milk but higher in proteins, potassium, and vitamins. It's a fantastic dairy substitute because of its high nutritional content. Another element boosting the segment's
by Distribution Channel
Supermarket Hypermarkets
Convenience Stores
Online retail
Others
The global dairy alternatives market was led by the Supermarket Hypermarkets segment in 2023, based on the distribution channel, with the greatest revenue share. Over the course of the projected period, the segment is anticipated to rise at a considerable CAGR. This is anticipated to be explained by elements like the simplicity with which dairy substitutes are available in these stores and the inclination of customers to physically examine and assess goods prior to making a purchase. Supermarkets and hypermarkets are defined as expansive retail spaces that are easily accessible to customers. By 2030, the internet sector is anticipated to have the largest market share and offer profitable growth prospects. The e-commerce industry's growth in developing nations is a key driver propelling the segment's progress because
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Dairy Alternatives Market Key Players
1. Danone North America Public Benefit Corporation (US)
2. Elmhurst Milked Direct LLC (US)
3. The Hain Celestial Group, Inc. (US)
4. Blue Diamond Growers (US)
5. Eden Foods, Inc. (US)
6. Hiland Dairy (US)
7. Ripple Foods (US)
8. Kite Hill (US)
9. Califia Farms, LLC (US)
10. Rude Health (US)
11. Miyoko's Creamery (US)
12. PANOS Brand (US)
13. Daiya Foods Inc. (Canada)
14. Earth's Own Food Company Inc. (Canada)
15. SunOpta (Canada)
Major Dairy Alternatives Manufacturers in Europe:
16. Vly (Germany)
17. Valsoia S.p.A (Italy)
18. Qatly Group AB (Sweden)
19. Triballat Noyal (France)
20. Nutriops, S.L. (Spain)
21. Nestlé SA (Switzerland)
Key Dairy Alternatives Providers in Asia-Pacific:
22. PureHarvest (Australia)
23. One Good (India)
24. Freedom Foods Group Limited (Australia)
25. Sanitarium (New Zealand)
26. Green Spot Co., Ltd. (Thailand)
27. Coconut Palm Group Co. Ltd. (China)
28. Hebei Yangyuan Zhihui Beverage Co. Ltd. (China)
29. Kikkoman Corporation (Tokyo, Japan)
30. Vitasoy International Holdings Ltd. (Hong Kong)
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Key questions answered in the Dairy Alternatives Market are:
- What is Dairy Alternatives ?
- What is the growth rate of the Dairy Alternatives Market ?
- What was the Dairy Alternatives Market size in 2023?
- What are the upcoming opportunities and trends for the Dairy Alternatives Market ?
- What are the different segments of the Dairy Alternatives Market ?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Dairy Alternatives Market ?
- What segments are covered in the Dairy Alternatives Market ?
- Which are the factors expected to drive the Dairy Alternatives Market growth?
- What growth strategies are the players considering to increase their presence in Dairy Alternatives ?
- Who are the leading companies and what are their portfolios in Dairy Alternatives Market ?
- Who are the key players in the Dairy Alternatives Market?
- What is the CAGR at which the Dairy Alternatives Market will grow during the forecast period?
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Key Offerings
- Past Size and Competitive Landscape
• Past Pricing and price curve by region
• Size, Share, Size Forecast by different segment
• Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Segmentation A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape Profiles of selected key players by region from a strategic perspective
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