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Australia Dairy Alternative Market Size, Share, Growth: By Source: Almond, Soy, Oats, Coconut, Rice, Hemp, Others; By Formulation: Plain, Flavoured; By Nutrient: Protein, Starch, Vitamin, Others; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online Channels, Others; Regional Analysis; Competitive Landscape; 2024-2032
Australia Dairy Alternative Market Outlook
The Australia dairy alternative market size was valued at USD 536.48 million in 2023. The market is further projected to grow at a CAGR of 12.1% between 2024 and 2032, reaching a value of USD 1500.73 million by 2032.
Key Takeaways
- The amount of dairy and meat substitutes bought from Australian supermarkets and other food retailers increased by 14% in 2020–21, according to the Australian Bureau of Statistics (ABS).
- The per person consumption of dairy and meat substitutes was 20 grams per day in 2020-21, up 29% from 15 grams per day in 2018-19. Approximately 17 grams of this consumption per person per day came from dairy milk substitutes like soy milk or almond milk.
- The top 4 players occupying considerable market share are Nestle Australia Limited, Nutricia Australia Pty Limited, Blue Diamond Growers, PureHarvest, and Califia Farms, LLC.
The rise in dairy alternatives like almond milk from brands such as Almond Breeze and soy milk from Vitasoy is directly influenced by the increasing number of Australians with lactose intolerance or milk protein allergies. Companies like Sanitarium Health Food Company offering products such as So Good soy milk are benefiting from the trend towards vegan and vegetarian diets in Australia. Moreover, innovative products like coconut milk yogurt from COYO and almond-based cheese from Botanical Cuisine are driving the Australia dairy alternative market growth.
Protein-fortified almond milk from brands like Australia's Own and soy milk enriched with pea protein from So Good target health-conscious consumers seeking additional protein in their diets. These formulations cater to fitness enthusiasts and individuals prioritising protein intake. Meanwhile, Oatly's oat milk fortified with vitamins and calcium and Vitasoy's soy milk enriched with Vitamin D or B12 exemplify dairy alternatives formulated with starch and essential nutrients. These products appeal to consumers looking for functional and health-promoting dairy substitutes with specific dietary requirements in mind.
Almond-based dairy alternatives, such as Almond milk, almond-based yogurt, almond cheese offered by Blue Diamond Growers and PureHarvest, hold a significant Australia dairy alternative market share due to their creamy texture and nutty flavor. Soy milk and cheese from brands like Vitasoy and Danone SA appeals to consumers seeking a good source of plant-based protein. As per industry reports, almond milk had a particularly rapid increase in apparent consumption, rising by 31% in the last two years, while soy milk increased by 16% over the same period.
Market Segmentation
Australia Dairy Alternative Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Source
- Almond
- Soy
- Oats
- Coconut
- Rice
- Hemp
- Others
Market Breakup by Formulation
- Plain
- Flavoured
Market Breakup by Nutrient
- Protein
- Starch
- Vitamin
- Others
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Channels
- Others
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Competitive Landscape
Market players are focused on expanding distribution channels, enhancing product quality, and addressing consumer preferences for clean-label and natural ingredients.
- Nestle Australia Limited
- Nutricia Australia Pty Limited
- Blue Diamond Growers
- PureHarvest
- Califia Farms, LLC
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Formulation |
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| Breakup by Nutrient |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Australia Dairy Alternatives Market Overview
8.1 Key Industry Highlights
8.2 Australia Dairy Alternatives Historical Market (2018-2023)
8.3 Australia Dairy Alternatives Market Forecast (2024-2032)
9 Australia Dairy Alternatives Market by Source
9.1 Almond
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Soy
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Oats
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Coconut
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 Rice
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.6 Hemp
9.6.1 Historical Trend (2018-2023)
9.6.2 Forecast Trend (2024-2032)
9.7 Others
10 Australia Dairy Alternatives Market by Formulation
10.1 Plain
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Flavoured
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Australia Dairy Alternatives Market by Nutrient
11.1 Protein
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Starch
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Vitamin
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Australia Dairy Alternatives Market by Distribution Channel
12.1 Supermarkets and Hypermarkets
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Convenience Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Online Channels
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Australia Dairy Alternatives Market by Region
13.1 New South Wales
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Victoria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Queensland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Australian Capital Territory
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Western Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Nestle Australia Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Nutricia Australia Pty Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Blue Diamond Growers
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 PureHarvest
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Califia Farms, LLC
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia Dairy Alternatives Market: Key Industry Highlights, 2018 and 2032
2. Australia Dairy Alternatives Historical Market: Breakup by Source (USD Million), 2018-2023
3. Australia Dairy Alternatives Market Forecast: Breakup by Source (USD Million), 2024-2032
4. Australia Dairy Alternatives Historical Market: Breakup by Formulation (USD Million), 2018-2023
5. Australia Dairy Alternatives Market Forecast: Breakup by Formulation (USD Million), 2024-2032
6. Australia Dairy Alternatives Historical Market: Breakup by Nutrient (USD Million), 2018-2023
7. Australia Dairy Alternatives Market Forecast: Breakup by Nutrient (USD Million), 2024-2032
8. Australia Dairy Alternatives Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
9. Australia Dairy Alternatives Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
10. Australia Dairy Alternatives Historical Market: Breakup by Region (USD Million), 2018-2023
11. Australia Dairy Alternatives Market Forecast: Breakup by Region (USD Million), 2024-2032
12. Australia Dairy Alternatives Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 536.48 million.
The market is expected to grow at a CAGR of 12.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1500.73 million by 2032.
The market is being driven due to increasing demand for dairy alternatives, desire for clean-label and natural products, and availability of various plant-based milk options in the market.
Key trends aiding the market expansion include increasing consumer shift towards plant-based diets, rising prevalence of lactose intolerance, and introduction of new dairy alternative products like yogurts and cheeses.
Regions considered in the market are New South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Based on formulation, the market segmentations include plain and flavoured.
The market breakup by source includes almond, soy, oats, coconut, rice, hemp, among others.
Key players in the market are Nestle Australia Limited, Nutricia Australia Pty Limited, Blue Diamond Growers, PureHarvest, and Califia Farms, LLC, among others.
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