Reports
Global Dairy Alternatives Market Size, Share, Growth, Forecast: By Source: Soy, Almond, Coconut, Rice, Oats, Hemp, Others; By Formulation: Plain, Flavoured; By Application: Milk, Ice Creams, Yoghurt, Cheese, Creamers, Others; By Distribution Channel: Supermarkets/Hypermarkets, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Dairy Alternatives Market Outlook
The global dairy alternatives market size attained a value of approximately USD 22.84 billion in 2023. The market is further expected to grow at a CAGR of around 13.4%. in the forecast period of 2024-2032, reaching a value of around USD 48.6 billion by 2032.
Increasing propensity for a plant-based diet is linked to a variety of issues, including sustainability concerns, health awareness, ethical or religious beliefs, environmental and animal rights, and allergies, which in turn raises the demand for plant-based food products, aiding the dairy alternatives market. Manufacturers are introducing new products that have been enhanced with essential vitamins and minerals, such as calcium, vitamin D, and vitamin B12 to appeal to a growing number of health-conscious consumers. Soy milk contains isoflavones, which are believed to lower the risk of heart disease and breast cancer. Thus, it is anticipated to become more popular among older consumers and women.
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Global Dairy Alternatives Market Share by Region
Europe is witnessing rapid growth in the global market for dairy alternatives, driven by a rising preference for dairy product alternatives due to health-related reasons like the avoidance of saturated fat consumption. Animal cruelty and animal rights issues are also major reasons for the avoidance of traditional dairy products in Europe. In countries such as Spain, shoppers prefer alternatives to real dairy due to the growing perception that plant-based foods are healthier than animal-based food products.
Meanwhile, in North America, in countries such as the United States, consumers prefer alternatives over traditional options due to health reasons like allergies or lactose intolerance, which is bolstering the regional dairy alternatives market. While older shoppers in the United States prefer alternatives to dairy due to health concerns like calories and cholesterol, younger consumers are looking to avoid milk products due to environmental and animal rights issues. Almond-based dairy alternatives have a higher acceptance among American shoppers over other options, followed by coconut and soy milk as popular alternatives products to traditional dairy options.
Properties and Applications
Dairy alternatives are substitutes for dairy products like milk and cheese that are made with plant-based alternatives to traditional dairy milk. They are often similar in taste and texture to real dairy products, although having a different composition.
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The dairy alternatives market segmentation, based on sources is:
- Soy
- Almond
- Coconut
- Rice
- Oats
- Hemp
- Others
On the basis of formulation, the market is bifurcated into:
- Plain
- Flavoured
Based on application, the market is divided into:
- Milk
- Ice Creams
- Yogurt
- Cheese
- Creamers
- Others
By distribution channel, the market is categorised into:
- Supermarkets/Hypermarkets
- Convenience Stores
- Health Stores
- Online Retailers
- Others
The report by EMR looks into regional markets for dairy alternatives like North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.
Market Analysis
The global dairy alternatives market is being driven by the growing awareness among consumers about the availability of lactose-free dairy products in the market. Consumers are seeking out these alternatives products over real milk products mainly due to concerns about health like the growing cases of lactose intolerance and allergies or sensitivity to milk products. The rising trend of vegan diets is also aiding the dairy alternatives market growth. The market is finding further impetus from consumers who are increasingly seeking natural and plant-based products without artificial flavours or colours.
The global dairy alternatives market is being driven by the younger generation with higher disposable incomes who are contributing to the rising demand for dairy alternatives, as they deem them more sustainable than other milk sources. With consumers checking the nutritional information of foods and beverages more frequently, the market for alternatives dairy products will be aided by the high nutritional content of the items. They are rich in nutrients like omega-3, calcium, protein, and vitamin D, while containing lower levels of fat and cholesterol than dairy milk products.
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The rising demand for alternatives to dairy products in regions where the supply of traditional dairy milk is insufficient to meet the local demand is also increasing the dairy alternative products market share. The market is also being driven by dairy farmers who are switching to plant-based milk production due to the slow rate of growth of the traditional dairy market and higher associated expenses. In the forecast period, the global market for dairy alternatives will likely expand owing to the implementation of various government policies seeking to assist the growth of the agricultural sector. These policies will lead to an increase in the availability of raw materials for plant-based dairy alternatives and will consequently lead to a lowering of their prices.
Competitive Landscape
The report analyses the following key players in the global dairy alternatives market, looking into their market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions:
- Kerry Group Plc
- Califia Farms LLC
- The Döhler Group
- Ripple Foods Inc.
- Nestle S.A
- Kite Hill
- Elmhurst Milked Direct LLC
- Pacific Foods of Oregon, LLC
- SunOpta, Inc.
- Daiya Foods Inc.
- The Archer-Daniels-Midland Company
- Danone S.A. (SILK)
- The Hain Celestial Group, Inc.
- Eden Foods, Inc
- Earth's Own Food Company Inc.
- Others
The EMR report gives a detailed insight into the market, providing a SWOT analysis as well as an analysis of Porter’s Five Forces.
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:
|
| Breakup by Source |
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| Breakup by Formulation |
|
| Breakup by Application |
|
| Breakup by Distribution Channel |
|
| 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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Dairy Alternatives Market Analysis
8.1 Key Industry Highlights
8.2 Global Dairy Alternatives Historical Market (2018-2023)
8.3 Global Dairy Alternatives Market Forecast (2024-2032)
8.4 Global Dairy Alternatives Market by Source
8.4.1 Soy
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Almond
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Coconut
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Rice
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Oats
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Hemp
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2023)
8.4.6.3 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Dairy Alternatives Market by Formulation
8.5.1 Plain
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Flavored
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 Global Dairy Alternatives Market by Application
8.6.1 Milk
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Ice Creams
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Yoghurt
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Cheese
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Creamers
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Dairy Alternatives Market by Distribution Channel
8.7.1 Supermarkets/Hypermarkets
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Convenience Stores
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Health Stores
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Online Retailers
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Dairy Alternatives Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Regional Price Analysis
12.1 North America Dairy Alternatives Source Price Trends and Forecast 2018-2028
12.1.1 Soy
12.1.2 Almond
12.1.3 Coconut
12.1.4 Rice
12.1.5 Oats
12.1.6 Hemp
12.2 Europe Dairy Alternatives Source Historical Price Trends and Forecast 2018-2028
12.2.1 Soy
12.2.2 Almond
12.2.3 Coconut
12.2.4 Rice
12.2.5 Oats
12.2.6 Hemp
12.3 Asia Pacific Dairy Alternatives Source Historical Price Trends and Forecast 2018-2028
12.3.1 Soy
12.3.2 Almond
12.3.3 Coconut
12.3.4 Rice
12.3.5 Oats
12.3.6 Hemp
12.4 Latin America Dairy Alternatives Source Historical Price Trends and Forecast 2018-2028
12.4.1 Soy
12.4.2 Almond
12.4.3 Coconut
12.4.4 Rice
12.4.5 Oats
12.4.6 Hemp
12.5 Middle East and Africa Dairy Alternatives Source Historical Price Trends and Forecast 2018-2028
12.5.1 Soy
12.5.2 Almond
12.5.3 Coconut
12.5.4 Rice
12.5.5 Oats
12.5.6 Hemp
13 Trade Data Analysis
13.1 Global Trade Analysis (2020): HS Code – 1201, 0802, 080119, 1002, 1004, 5302
13.2 Major Exporting Countries
13.2.1 By Value
13.2.2 By Volume
13.3 Major Importing Countries
13.3.1 By Value
13.3.2 By Volume
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Kerry Group Plc
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Califia Farms LLC
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 The Döhler Group
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Ripple Foods PBC
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Nestle S.A
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Kite Hill
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Elmhurst Milked Direct LLC
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Pacific Foods of Oregon, LLC
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 SunOpta, Inc.
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Daiya Foods Inc.
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 The Archer-Daniels-Midland Company
14.2.11.1 Company Overview
14.2.11.2 Product Portfolio
14.2.11.3 Demographic Reach and Achievements
14.2.11.4 Certifications
14.2.12 Danone S.A. (SILK)
14.2.12.1 Company Overview
14.2.12.2 Product Portfolio
14.2.12.3 Demographic Reach and Achievements
14.2.12.4 Certifications
14.2.13 The Hain Celestial Group, Inc.
14.2.13.1 Company Overview
14.2.13.2 Product Portfolio
14.2.13.3 Demographic Reach and Achievements
14.2.13.4 Certifications
14.2.14 Eden Foods, Inc
14.2.14.1 Company Overview
14.2.14.2 Product Portfolio
14.2.14.3 Demographic Reach and Achievements
14.2.14.4 Certifications
14.2.15 Earth's Own Food Company Inc.
14.2.15.1 Company Overview
14.2.15.2 Product Portfolio
14.2.15.3 Demographic Reach and Achievements
14.2.15.4 Certifications
14.2.16 Others
15 Industry Events and Developments
List of Key Figures and Tables
1. Global Dairy Alternatives Market: Key Industry Highlights, 2018 and 2032
2. Global Dairy Alternatives Historical Market: Breakup by Source (USD Million), 2018-2023
3. Global Dairy Alternatives Market Forecast: Breakup by Source (USD Million), 2024-2032
4. Global Dairy Alternatives Historical Market: Breakup by Formulation (USD Million), 2018-2023
5. Global Dairy Alternatives Market Forecast: Breakup by Formulation (USD Million), 2024-2032
6. Global Dairy Alternatives Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Dairy Alternatives Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Dairy Alternatives Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
9. Global Dairy Alternatives Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
10. Global Dairy Alternatives Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Dairy Alternatives Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Dairy Alternatives Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Dairy Alternatives Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Dairy Alternatives Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Dairy Alternatives Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Dairy Alternatives Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Dairy Alternatives Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Dairy Alternatives Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Dairy Alternatives Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Dairy Alternatives Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Dairy Alternatives Market Forecast: Breakup by Country (USD Million), 2024-2032
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Major Exporting Countries by Value
28. Major Importing Countries by Value
29. Major Exporting Countries by Volume
30. Major Importing Countries by Volume
31. Global Dairy Alternatives Market Structure
Key Questions Answered in the Report
The global market for dairy alternatives attained a value of USD 22.84 billion in 2023.
The market is projected to grow at a CAGR of 13.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 48.6 billion by 2032.
The major drivers of the market include growing consumer awareness regarding lactose-free dairy products, increasing demand for natural and plant-based dairy products, and rising disposable incomes.
The key dairy alternatives market trends include rising popularity of vegan diets, increasing product development, and enhanced accessibility of dairy alternatives products.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various sources of dairy alternatives in the market include soy, almond, coconut, rice, oats, and hemp, among others.
The significant formulations of dairy alternatives in the market are plain and flavoured.
The different applications of dairy alternatives in the market are milk, ice creams, yoghurt, cheese, and creamers, among others.
The leading distribution channels for dairy alternatives in the market are supermarkets/hypermarkets, convenience stores, health stores, and online retailers, among others.
The major players in the market, according to the report, are Kerry Group Plc, Califia Farms LLC, The Döhler Group, Ripple Foods Inc., Nestle S.A, Kite Hill, Elmhurst Milked Direct LLC, Pacific Foods of Oregon, LLC, SunOpta, Inc., Daiya Foods Inc., The Archer-Daniels-Midland Company, Danone S.A. (SILK), The Hain Celestial Group, Inc., Eden Foods, Inc, and Earth's Own Food Company Inc., among others.
Analyst Review
The global dairy alternatives market attained a value of USD 22.84 billion in 2023, driven by growing consumer awareness for plant-based substitutes in the market. Aided by the emerging trend of vegan diets, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 13.4%. The market is projected to reach USD 48.6 billion in 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on sources, the market is segmented into soy, almond, coconut, rice, oats, and hemp, among others. On the basis of formulation, the market is bifurcated into plain and flavoured. By application, the market is divided into milk, ice creams, yoghurt, cheese, and creamers, among others. On the basis of distribution channel, the market is divided into supermarkets/hypermarkets, convenience stores, health stores, and online retailers, among others. The major regional markets for dairy alternatives are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Kerry Group Plc, Califia Farms LLC, The Döhler Group, Ripple Foods Inc., Nestle S.A, Kite Hill, Elmhurst Milked Direct LLC, Pacific Foods of Oregon, LLC, SunOpta, Inc., Daiya Foods Inc., The Archer-Daniels-Midland Company, Danone S.A. (SILK), The Hain Celestial Group, Inc., Eden Foods, Inc, and Earth's Own Food Company Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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