IMARC Group has recently released a new research study titled “Dairy Alternatives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
The global dairy alternatives market size reached US$ 28.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 52.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11% during 2023-2028. Dairy alternatives represent various food and beverages used as a replacement for animal-derived and milk-based products. These substitutes are derived from plant-based sources, such as seeds and nuts, and are a rich source of essential nutrients, including vitamins, minerals, calcium, iron, potassium, and magnesium. Dairy alternatives are available in several kinds, such as coconut, rice, oat, cashew, almond, and soymilk. These substitutes also have minimal calories and fat and are usually consumed by individuals suffering from lactose intolerance. Dairy alternatives aid in maintaining a healthy nervous system, weight management, brain functioning, and red blood cell (RBC) levels. As a result, these replacements are widely available across supermarkets, convenience stores, hypermarkets, online stores, etc.
Market Trends and Growth Drivers:
The escalating prevalence of chronic medical ailments, including cardiovascular (CVD), diabetes, and gastrointestinal diseases, and the rising number of people with lactose intolerance are primarily driving the dairy alternatives market. Besides this, the increasing awareness towards the benefits of consuming these substitutes, as they are easily digested and do not cause painful bloating and other gastric problems, is further augmenting the market growth. Moreover, the emerging trend of veganism across countries and various technological advancements in the production of dairy alternatives are also catalyzing the global market. Apart from this, the elevating utilization of ultra-high temperature (UHT) processing and enzymatic liquefaction methods to enhance the nutritional content and yield of the products is acting as another significant growth-inducing factor. Furthermore, the extensive availability of several sweetened, flavored, and unsweetened variants and the aggressive promotional activities by the manufacturers are anticipated to propel the dairy alternatives market over the forecasted period.
Competitive Landscape With Key Players:
The competitive landscape of the dairy alternatives market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Blue Diamond Growers
- Döhler GmbH
- Earth’s Own Food Company Inc.
- Eden Foods, Inc.
- Freedom Foods Group
- Nutriops S.L
- Organic Valley
- PANOS brands
- Sanitarium
- SunOpta Inc.
- Hain Celestial Group, Inc.
- The Whitewave Foods Company (Danone North America)
- Triballat Noyal
- Valsoia S.p.A.
Key Market Segmentation:
The report has segmented the global dairy alternatives market based on source, formulation, nutrient, distribution channel, product type and region.
Breakup by Source:
- Almond
- Soy
- Oats
- Hemp
- Coconut
- Rice
- Others
Breakup by Formulation:
- Plain
- Sweetened
- Unsweetened
- Flavoured
- Sweetened
- Unsweetened
Breakup by Nutrient:
- Protein
- Starch
- Vitamin
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Product Type:
- Cheese
- Creamers
- Yogurt
- Ice Creams
- Milk
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/dairy-alternatives-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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