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Global Dairy Alternative Market Report and Forecast 2023-2028
Market Report I 2023-03-03 I 214 Pages I EMR Inc.
Global Dairy Alternative Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global dairy alternative market attained a value of USD 22917 million in 2022. Aided by the increasing prevalence of lactose intolerance and the growing demand for plant-based diets, the market is projected to further grow at a CAGR of 11.2% between 2023 and 2028 to reach a value of USD 43254.41 million by 2028.
Dairy alternatives are plant-based substitutes for conventional dairy products, including milk, cheese, yogurt, and butter, among others. These alternatives are derived from sources such as soy, almond, coconut, and oat. Dairy alternatives contain a similar nutritional profile to dairy products and are often fortified with vitamins and minerals, making them a healthy option for consumers seeking plant-based options. The increasing prevalence of lactose intolerance and other dairy-related allergies is driving the growth of the global dairy alternative market. Lactose intolerance affects a significant portion of the global population, leading to digestive issues when consuming dairy products. Dairy alternatives provide a lactose-free option for these individuals, allowing them to enjoy similar food products without the adverse effects. Concerns regarding the environmental impact of the dairy industry, such as greenhouse gas emissions and resource depletion, are encouraging consumers to seek more sustainable food options. Dairy alternatives are often considered more environmentally friendly than conventional dairy products, driving their demand and boosting the growth of the dairy alternative market. Additionally, ethical concerns related to animal welfare have led to an increasing number of consumers opting for plant-based alternatives.
Many dairy alternatives are fortified with essential nutrients, such as vitamins and minerals, making them an attractive option for consumers seeking nutritious food choices. The addition of these nutrients enhances the health benefits of dairy alternatives and contributes to their growing popularity. Growing consumer interest in plant-based diets is another key trend propelling the growth of the dairy alternative market. Health-conscious consumers are increasingly opting for plant-based options due to the perceived health benefits, such as lower cholesterol and saturated fat levels. Additionally, concerns regarding animal welfare and environmental sustainability have led to a shift in consumer preference towards dairy alternatives. Dairy alternative manufacturers are continuously expanding their product portfolios and launching innovative products to cater to diverse consumer preferences. This has led to a wider variety of dairy alternative products being available further aiding the growth of the dairy alternative market.
Market Segmentation
The dairy alternative market can be divided on the basis of source, formulation, application, distribution channel, and region.
Market Segmentation by Source
- Soy
- Almond
- Coconut
- Rice
- Oats
- Hemp
- Others
Market Bifurcation by Formulation
- Plain
- Flavoured
Market Division by Application
- Milk
- Ice Creams
- Yogurt
- Cheese
- Creamers
- Others
Market Segregation by Distribution Channel
- Supermarkets/ Hypermarkets
- Convenience Stores
- Health Stores
- Online Retailers
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global dairy alternative companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Kerry Group Plc
- Califia Farms LLC
- The Dohler Group
- Ripple Foods Inc.
- Nestle S.A
- Kite Hill
- Elmhurst Milked Direct LLC
- Pacific Foods of Oregon, LLC
- SunOpta, Inc.
- Daiya Foods Inc.
- Others
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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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 Dohler 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
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