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Global Dairy Alternative Market: By Source: Soy, Almond, Coconut, Rice, Oats, Hemp; By Formulation: Plain, Flavoured; By Application: Milk, Ice Creams, Yoghurt, Cheese, Creamers; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2018-2028); Competitive Landscape; Industry Events and Developments
Global Dairy Alternative Market Outlook
The global dairy alternative market attained a value of USD 22.84 billion in 2022. It is expected to witness a further robust growth in the forecast period of 2023 -2028, growing at a CAGR of 13.4%. The market is projected to reach USD 48.6 billion in 2028.
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The dairy alternative market in Europe is witnessing the fastest growth among the regional markets. The market is being driven by a rising avoidance of milk products on the continent 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 Spain, shoppers prefer alternatives to real dairy due to the growing perception that plant-based foods are healthier than animal-based food products.
In the US, the dairy alternative segment is expected to account for almost 40% of the dairy market by 2021. It contributed to a 22% decrease in the consumption of fluid milk in the U.S. between 2000-2016. US consumers prefer alternatives over traditional options due to health reasons like allergies or lactose intolerance. While older shoppers in the US prefer alternatives to dairy due to health concerns like calories and cholesterol, the 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. In 2017, it had the largest sales value in the US, among other dairy alternatives. Almond milk was followed by coconut and soy milk as popular alternative products to traditional options.
Properties and Applications
Dairy alternatives are substitutes for dairy products like milk, ice cream, yoghurt, cheese, creamers, and others. They are often similar in taste and texture to real dairy products, although having a different composition. They can be derived from the following sources:
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- Soy
- Almond
- Coconut
- Rice
- Oats
- Hemp
- Others
The report by EMR looks into regional dairy alternative markets like North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.
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Market Analysis
The global dairy alternative industry is being driven by the growing awareness among the consumers about the availability of lactose-free food in the market. Consumers are seeking out these alternative 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 industry growth. The market is finding further impetus from consumers who are increasingly seeking natural and plant-based products without artificial flavours or colours.
The dairy alternative 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 alternative 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 fat and cholesterol than real milk products.
The rising demand for alternatives to milk products in regions where the supply of cow’s milk is insufficient to meet the local demand is also aiding the industry growth. The market is also being driven by dairy farmers who are switching to plant-based milk production due to the slower rate of growth of the traditional dairy market as compared to the alternative segment. In the forecast period, the industry will also be aided by 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 alternatives, and will consequently lead to a lowering of their prices.
Competitive Landscape
The report analyses the following key players in the global dairy alternative 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.
- 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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Source, Formulation, Application, Distribution Channel, Region |
| Breakup by Source | Soy, Almond, Coconut, Rice, Oats, Hemp, Others |
| Breakup by Formulation | Plain, Flavoured |
| Breakup by Application | Milk, Ice Creams, Yoghurt, Cheese, Creamers, Others |
| Breakup by Distribution Channel | Supermarkets/Hypermarkets, Convenience Stores, Health Stores, Online Retailers, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Kerry Group Plc, Califia Farms LLC, The Döhler Group, Ripple Foods PBC, SunOpta Inc., Nestle S.A, Kite Hill, Elmhurst Milked Direct LLC, Pacific Foods of Oregon, LLC, SunOpta, Inc., Daiya Foods Inc., Others. |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 Alternative Market Analysis
8.1 Key Industry Highlights
8.2 Global Dairy Alternative Historical Market (2018-2022)
8.3 Global Dairy Alternative Market Forecast (2023-2028)
8.4 Global Dairy Alternative Market by Source
8.4.1 Soy
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Almond
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Coconut
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Rice
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Oats
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Hemp
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Global Dairy Alternative Market by Formulation
8.5.1 Plain
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Flavored
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Dairy Alternative Market by Application
8.6.1 Milk
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Ice Creams
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Yoghurt
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Cheese
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Creamers
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
8.6.6 Others
8.7 Global Dairy Alternative Market by Distribution Channel
8.7.1 Supermarkets/Hypermarkets
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Convenience Stores
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Health Stores
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Online Retailers
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Others
8.8 Global Dairy Alternative 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 (2018-2022)
9.1.2 Forecast Trend (2023-2028)
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 (2018-2022)
9.2.2 Forecast Trend (2023-2028)
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 (2018-2022)
9.3.2 Forecast Trend (2023-2028)
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 (2018-2022)
9.4.2 Forecast Trend (2023-2028)
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 (2018-2022)
9.5.2 Forecast Trend (2023-2028)
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 Alternative 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 Alternative 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 Alternative 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 Alternative 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 Alternative 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 Others
15 Industry Events and Developments
List of Key Figures and Tables
1. Global Dairy Alternative Market: Key Industry Highlights, 2018 and 2028
2. Global Dairy Alternative Historical Market: Breakup by Source (USD Million), 2018-2022
3. Global Dairy Alternative Market Forecast: Breakup by Source (USD Million), 2023-2028
4. Global Dairy Alternative Historical Market: Breakup by Formulation (USD Million), 2018-2022
5. Global Dairy Alternative Market Forecast: Breakup by Formulation (USD Million), 2023-2028
6. Global Dairy Alternative Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Dairy Alternative Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Dairy Alternative Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
9. Global Dairy Alternative Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
10. Global Dairy Alternative Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Dairy Alternative Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Dairy Alternative Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Dairy Alternative Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Dairy Alternative Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Dairy Alternative Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Dairy Alternative Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Dairy Alternative Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Dairy Alternative Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Dairy Alternative Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Dairy Alternative Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Dairy Alternative Market Forecast: Breakup by Country (USD Million), 2023-2028
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 Alternative Market Structure
Key Questions Answered in the Report
The global dairy alternative market attained a value of nearly USD 22.84 billion in 2022.
The market is projected to grow at a CAGR of 13.4% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 48.6 billion in 2028.
The major drivers of the market include growing consumer awareness regarding lactose-free variant or natural and plant-based products, rising disposable incomes, increasing population, and rising demand from the developing regions.
The rising trend of vegan diets acts as a key trend for the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major sources of the product in the market include soy, almond, coconut, rice, oats, and hemp, among others.
The significant formulations of the product are plain and flavoured.
The major application segments of the product are milk, ice cream, yoghurt, cheese, and creamers, among others.
The leading distribution channels of dairy alternative in the market are supermarkets/hypermarkets, convenience stores, health stores, and online retailers, among others.
The major players in the market are Kerry Group Plc, Califia Farms LLC, The Döhler Group, Ripple Foods PBC, SunOpta Inc., Nestle S.A, Kite Hill, Elmhurst Milked Direct LLC, Pacific Foods of Oregon, LLC, SunOpta, Inc., and Daiya Foods Inc., among others.
Analyst Review
The global dairy alternative market attained a value of USD 22.84 billion in 2022, driven by the 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 2023-2028, growing at a CAGR of 13.4%. The market is projected to reach USD 48.6 billion in 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its sources, the market can be segmented into soy, almond, coconut, rice, oats, hemp, and others. On the basis of formulations, the industry is bifurcated into plain and flavoured. By applications, the industry is divided into milk, ice cream, yoghurt, cheese, creamers, and others. On the basis of distribution channels, the industry is divided into supermarkets/hypermarkets, convenience stores, health stores, online retailers, and others. The major regional markets for dairy alternative 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 PBC, SunOpta Inc., Nestle S.A, Kite Hill, Elmhurst Milked Direct LLC, Pacific Foods of Oregon, LLC, SunOpta, Inc., Daiya Foods Inc., 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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