Global Dairy Alternatives Market size was valued at USD 20,181 Million in 2019 and is forecast to register a CAGR of 10.7% CAGR during the forecast period (2020-2027), because of the changing diet patterns and eating habits.

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Key Drivers and Emerging Trends

With the rising incidences of milk allergies and lactose intolerance among consumers, the demand for dairy alternatives has increased, driving the dairy alternatives market growth. Growing awareness among consumers about the health advantages of dairy-free diets, which include their ability to help relieve digestive distress, an inability to lose weight, acne, and irritable bowel syndrome has propelled the market growth.

Additionally, the growing drift towards veganism and ongoing technological advancements for the production of these products will strengthen the market growth. For instance, producers across the nation are using ultra-high temperature (UHT) processing and enzymatic liquefaction processes to improve the productivity of nutritional content of the products. Other factors, which include the easy availability of different sweetened, flavored and unsweetened variants, strong promotional activities by leading producers and rapid urbanization across the globe, are projected to expand the Dairy Alternatives Market Size.

Increasing prominence of dairy alternatives as dairy supplements among millennials to maintain healthy lifestyle and regulate body weight has positively impacted the market growth. Moreover, strategic initiatives undertaken by leading producers to launch new flavors, improved quality, and attractive packaging will offer enormous opportunities to the market. On the other hand, the fluctuating prices of raw material and the challenge of developing dairy substitute products with low cholesterol and fat level are some of the factors which will have a negative influence on the growing demand of the market.

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Application Segment Analysis

Milk application is forecast to witness a promising growth over the forecast period, owing to the growing drift towards veganism culture aided by the rising concerns pertaining environment and animal rights. The introduction of new products by leading market players such as coconut milk, almond milk, to expand their portfolios and attract new consumers into the market. Moreover, the growing health concerns, including lactose intolerance, along with the hectic lifestyle of the working population will fuel the market growth.

Distribution Segment Analysis

Supermarkets/Hypermarkets segment is estimated to dominate the market over the upcoming years, owing to the drastic increase in the number of supermarkets to cater the growing demand for rising population and rapid modernization. The presence of a large variety of products under one roof and ease of buying has strengthened the segment’s growth.
However, online stores segment is predicted to witness a higher CAGR over the forecast period, primarily because of the rising smartphones and the internet penetration. The cost-efficiency, faster access to products, and benefits like free home delivery, multiple payment options, paybacks, and other discount offers, will propel the segment’s growth.

Source Segment Analysis

Soy source is projected to dominate the dairy alternatives market over the upcoming years, as it is a rich source of Vitamin B, helps in increasing the metabolism by burning more fats and calories. The growing use of soy to decrease obesity, blood cholesterol levels, reduce the chances of various postmenopausal issues, and improve cardiovascular health, is expected to bolster the segment’s growth. Increasing consumption of soy-based products, as they are a rich source of vitamins, proteins, polysaturated and monosaturated fatty acids required to maintain cardiovascular health, improve metabolism, and promote healthy weight gain has driven the market size.
Almond milk is estimated to hold a higher share during the forecast period, because of the presence of essential minerals which include magnesium, iron, phosphorous, zinc, and copper to control blood pressure, improve blood oxygenation, and prevent body against diseases. In addition, almond milk helps in improving skin quality and preventing against cancer, which will bolster the segment’s growth.

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Regional Segment Analysis

Asia Pacific is expected to witness a faster CAGR over the upcoming years, due to the accelerating population, rising per capita income, growing health awareness pertaining hazardous additives and rising incidences of lactose intolerance. In addition, rapidly accelerating urbanization, and the accessibility of an extensive variety of flavors will further propel the market growth. Rising demand for lactose-free milk for children and pregnant women is predicted to stimulate the regional expansion. The growing inclination of consumers towards low calorie, free from artificial ingredients, and protein-rich food is estimated to drive the regional growth. The increasing consumption of plant-based protein in Asia-Pacific to improve health and well-being by reducing obesity, chances of stroke, and heart disease, cancers, decrease cholesterol and arthritis pain, will offer enormous opportunities to the market.

European market for dairy alternatives is anticipated to witness a faster CAGR over the forecast period because of the growing demand for nutritious foods and beverages. The increasing consumption of dairy alternative-based beverages as alternatives to dairy beverages and the growing emphasis of leading producers on new product development, which includes soy juice mixes and fresh soy drinks will boost the regional growth.

Various notable players operating in the market include The Whitewave Foods Company, Hain Celestial, Blue Diamond Growers, SunOpta, Sanitarium, Freedom Foods Group Limited, Eden Foods, Nutriops S.L., Earth’s Own Food Company, and Valsoia S.p.A. among others.

Key Developments:

• • In 2021, Violife, an alternative brand for Upfield’s introduced a latest product Vicocreme, which is composed of seven ingredients, including a blend of lentil protein, coconut and rapeseed oils, natural flavor, and small amounts of beet sugar and rock salt, maize starch. The latest product is 100% vegan and free from dairy, soy, gluten, lactose, nuts, preservatives, and emulsifiers.
  • In 2021, Danone SA introduced Silk Greek Style Coconutmilk Yogurt Alternatives. Flavors like Strawberry, Lemon, Vanilla, and Blueberry. Silk Greek is produced with a vitamin D2, live and active culture, and pea protein. The yogurt substitute features a thick coconut milk base and contain 190 to 200 calories, 10 grams of protein, 9 to 12 grams of sugar, and 11 grams of fat per serving.
  • In 2021, Linda MacCartney’s decided to enter into dairy alternatives with the introduction of new range of four plant-based milk drinks. These varieties involve Barista Style Organic Coconut, Organic Soya, and Organic Rice, and Barista Style Organic Oat. The new plant range can be used in a wide range of recipes, from smoothies to baking.
  • In 2021, SunOpta Inc. declared the establishment of new plant-based beverage facility in the Dallas-Fort Worth, Texas, metropolitan area. The new production facility in the Midlothian, Texas, will initially be sized at 285,000 square feet, with the ability to expand to 400,000 square feet.
  • In 2019, Blue Diamond Growers launched its new Almond Breeze Almondmilk Yogurt Alternative. The product is available on with six crunchy topping options, including toasted almonds, honey roasted almonds and granola, chocolate chips, and many more.

The global Dairy Alternatives market has been segmented on the basis of Source, Application, Distribution Channel, Formulation, Nutrient and Region. Based on source, the market is segmented into Almond, Soy, Oats, Hemp, Coconut, Rice and Others. Based on application, the market is segmented into Cheese, Creamers, Yogurt, Ice Creams, Milk and Others. Based on Distribution Channel, the market is segmented into Supermarkets, Health Food stores, Pharmacies, Convenience Stores, Online and Others. Based on Formulation, the market is segmented into Plain and Flavored. Based on Nutrient, the market is segmented into Protein, Starch, Vitamin and Others.

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Key questions answered in this research report:

• • At what pace is global Dairy Alternatives market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Dairy Alternatives market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Dairy Alternatives market?
  • Which source generated maximum revenues in 2019 and identify the most promising source during the forecast period?
  • What are the various application areas of global Dairy Alternatives market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 20,181 Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Source, By Application, By Distribution Channel, By Formulation, By Nutrient, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	The Whitewave Foods Company, Hain Celestial, Blue Diamond Growers, SunOpta, Sanitarium, Freedom Foods Group Limited, Eden Foods, Nutriops S.L., Earth’s Own Food Company, and Valsoia S.p.A.; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Global Dairy Alternatives Market by Source

• • Almond
  • Soy
  • Oats
  • Hemp
  • Coconut
  • Rice
  • Others

Global Dairy Alternatives Market by Application

• • Cheese
  • Creamers
  • Yogurt
  • Ice Creams
  • Milk
  • Others

Global Dairy Alternatives Market by Distribution Channel

• • Supermarkets
  • Health Food Stores
  • Pharmacies
  • Convenience Stores
  • Online
  • Others

Global Dairy Alternatives Market by Formulation

• • Plain
  • Flavored

Global Dairy Alternatives Market by Nutrient

• • Protein
  • Starch
  • Vitamin
  • Others

Global Dairy Alternatives Market by Region

• • North America Dairy Alternatives Market (Option 1: As a part of the free 25% customization)
    • By Source
    • By Application
    • By Distribution Channel
    • By Formulation
    • By Nutrient
    • United States of America (US) Market All-Up
    • Canada Market All-Up
  • Europe Dairy Alternatives Market
    (Option 2: As a part of the free 25% customization)
    • By Source
    • By Application
    • By Distribution Channel
    • By Formulation
    • By Nutrient
    • United Kingdom (UK) Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Dairy Alternatives Market
    (Option 3: As a part of the free 25% customization)
    • By Source
    • By Application
    • By Distribution Channel
    • By Formulation
    • By Nutrient
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Dairy Alternatives Market
    (Option 4: As a part of the free 25% customization)
    • By Source
    • By Application
    • By Distribution Channel
    • By Formulation
    • By Nutrient
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Dairy Alternatives Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • The Whitewave Foods Company
  • Hain Celestial
  • Blue Diamond Growers
  • SunOpta
  • Sanitarium
  • Freedom Foods Group Limited
  • Eden Foods
  • Nutriops S.L.
  • Earth’s Own Food Company
  • Valsoia S.p.A.