Dairy Alternatives Market Share to Record a Growth of USD 50.15 Billion by 2028: Polaris Market Research

According to the latest research study, the report predicts the global Dairy Alternatives Market size & share to reach around USD 50.15 Billion by 2028 from USD 20.54 Billion in 2020. The global Dairy Alternatives Market is anticipated to register a significant CAGR of 12.3% by 2028.

According to the latest research study, the report predicts the global Dairy Alternatives Market size & share to reach around USD 50.15 Billion by 2028 from USD 20.54 Billion in 2020. The global Dairy Alternatives Market is anticipated to register a significant CAGR of 12.3% by 2028.

Dairy products or cow’s milk is avoided by some people as their bodies fail to digest lactose or they suffer from an allergy to the cows’ milk protein. There are numerous dairy products that are lactose-free and are obtainable to purchase for people with an intolerance of lactose. They accommodate similar minerals and vitamins as standard dairy products. Still, they also contain an added enzyme known as lactase which assists in digesting any lactose, so symptoms are not triggered by any products.

There are many benefits of going dairy-free. Steering clear of symptoms of lactose intolerance is a benefit. Symptoms of lactose intolerance include stomach pain, bloating, gas, diarrhea, and rumbling of the stomach. People who are hypersensitive to cow’s milk can have possibly threatening allergic after-effects and therefore should avoid dairy products altogether. Some people discard dairy products to circumvent the probability of contaminants of milk like hormones or steroids. Minute amounts of steroids and hormones in milk emerge to pass on to the person who consumes it and could have an undesirable impact on the body.

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Report Introduction, Overview, And In-Depth Industry Analysis
Covid-19 Pandemic Outbreak Impact Analysis Included
2021 Upgraded Report Preface, Overview, and Detailed in-Depth Industry Analysis
Offer Chapter Wise Instruction On Request
Includes Refurbished Regional Scrutinizing with Graphical Representation of Share, Size, and Trends
Updated List of Tables and Figures
The Report Offers Top Market Players with Their Sales Volume, Business Strategy and Revenue Analysis
Research Methodology

 

Important Questions Being Answered by The Market Report

Which are the prominent sources contemplated in this study, and which segments are estimated to have a reasonable growth rate in the future?
What are the drivers pushing the growth of the global dairy alternative market?
How big is the global dairy alternative market?
Which region held the largest share?
Which distribution channel dominated the market?

 

Key offerings

Market size and forecast by revenue (2021—2028)
Market dynamics – Prime trends, restraints, growth drivers, and opportunities of investment
Market segmentation – A detailed analysis by source, product, distribution channel, and region
Competitive landscape – vendors that are crucial and topmost

 

Top Market Players

SunOpta Inc.
Oatly
Danone
The Hain Celestial Group Inc.
DAIYA FOODS INC.
Living Harvest Foods Inc.
Melt Organic
Vitasoy International Holdings Limited
Freedom Foods Group
Earth’s Own Food Company
The Whitewave Foods Company
ADM
Ripple Foods
Nutriops
Blue Diamond Growers
Eden Foods Inc.
Organic Valley Family of Farms and CP Kelco

 

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Dairy Alternatives Market: Growth Leading Factors

The market growth will be fuelled by the number of lactose-intolerant consumers, essentially pushing the dairy alternative market growth. Aside from that, there is an increasing insight among the general consumers that lactose-free products are wholesome alternatives to traditional dairy. Lactose intolerance is because of the removal of an enzyme called lactase that dismantles lactose.

The alternative dairy market will observe plant milk products and are anticipated to obtain more significant dairy alternatives market share and robust growth rates than the traditional dairy equivalents in coming years as veganism will go in now mainstream. The increasing liking for vegetarian, flexitarian, and vegan food habits would push the sales of plant-based dairy replacements. The justifiable growth trajectory of the product depends on products that are value-added and engage the aesthetic and nutritional needs of the consumers.

The covid-19 saw a decline in the market. This decline was because of the spread of coronavirus globally. The covid-19 pandemic has created the governments to inflict a lockdown to end community transmission among the people impacting the functioning of many industries. The limited capacity of workers, lesser availability of laborers, and delayed supply chain are the fundamental reasons for lower market growth.

Global Dairy Alternative Market: Report Scope

Report Attribute

Details

Market Size 2020 Value

USD 20.54 Billion

Market Outlook for 2028

USD 50.15 Billion

Expected CAGR Growth

12.3% from 2021 – 2028

Base year

2020

Forecast period

2021 – 2028

Segments covered

By Source, By Product, By Distribution Channel, By Region

Key Companies

The Hain Celestial, Blue Diamond Growers, SunOpta, Sanitarium Health and Wellbeing Company, Danone, Freedom Foods Group, Earth’s Own Food Company, Triballat Noyal, Valsoia S.p.A, Panos Brands, Melt Organic, Oatly, Living Harvest Foods, Ripple Foods, Kite Hill, Califia Farms, Hudson River Foods Inc., Daiya Foods Inc., Pureharvest, Yoconut Dairy Free, Yumbutter.

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization Options

Customized purchase options are available to meet your research needs.

 

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Dairy Alternative Market: Key Segmentation

Insight by source, product, distribution channel, and region

Based on the source, Almond milk is gaining prominence as the consumers have experienced allergies and health concerns with soy milk. Almond milk is less in calories, and these products are also well marketed and branded and knowledgeable way incredibly engaging for the younger consumers. By product, segments like vegan cheese, yogurt, ice cream display speedier growth rates than nondairy segments because of their acceptance among consumers irrespective of their age groups. The foodservice segment is speedily progressing in the context of its claims and product offerings. The vegan, nondairy, natural, and plant-based is encountering substantial attention by the consumers. By distributional channel, the supermarket is segmented to hold the dominant market share because of its accessibility, affordability, and proximity. There is a devoted retail shelf for vegan and plant-based products and discounts that are attractive to allure the consumers and increase the acquisition rates.

By region, the Asia Pacific market is driven by a pronounced rise in the reported cases of allergy from cow’s milk and intolerance of lactose. Further, the worries about calories and greater pervasiveness of hypercholesterolemia and obesity have prompted consumers to shift to vegan diets, which are likely to generate alternatives for cow’s milk. North America, as a region, is anticipated to utilize more options that are plant-based and play a crucial role in offering national and food security. Consumers are well acquainted and aware of dairy substitutes available in a great deal. This region will also observe an increasing number of consumers consuming more plant-based food than those acquiring vegan diets.

Browse the full “Dairy Alternatives Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Almond, Coconut, Rice, Oats, Others); By Product; By Distribution Channel; By Region; Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/dairy-alternatives-market

The market predominantly depends on the source, product, distribution channel, and region

Dairy Alternative Market: By Source

Soy
Almond
Coconut
Rice
Oats
Others

 

Dairy Alternative Market: By Product

Milk
Yogurt
Cheese
Ice cream
Creamer
Others

 

Dairy Alternative Market: By Distribution Channel

Supermarkets & Hypermarkets
Convenience Stores
Online Retail
Others

 

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