Dairy Alternatives Market Analysis, Trends, Demand, Growth and Forecast 2023-2028

 IMARC Group, a leading market research company, has recently releases report titled “Dairy Alternatives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global dairy alternatives market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the dairy alternatives market?

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.

What are Dairy Alternatives?

Dairy alternatives are products that substitute traditional dairy items, such as milk, cheese, and yogurt. These alternatives are derived from plant-based sources like almonds, soy, rice, and oats. The rise in lactose intolerance, veganism, and environmental concerns have contributed to an increased demand for dairy alternatives. They often contain essential nutrients, though some may lack certain vitamins and minerals found in traditional dairy products.

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What are the growth prospects and trends in the dairy alternatives industry?

The rise of veganism and other plant-based diets is increasing demand for non-dairy products which represents one of the key factors driving the growth of the market across the globe. In line with this, the rising concerns regarding the environmental impact of dairy farming are driving several consumers which is further boosting the growth of the market.

The production of dairy alternatives often requires fewer natural resources. In addition to this, some dairy alternatives offer specific health benefits, such as lower cholesterol or fat content, which is making them attractive to health-conscious consumers, thus contributing to the growth of the market. As Western diets become more popular globally, dairy alternatives are gaining traction in regions where dairy consumption is traditionally low. The market is also driven by ongoing advancements in technology and culinary practices which are leading to the creation of dairy alternatives that mimic the taste and texture of traditional dairy products, thus broadening their appeal.

Moreover, effective marketing strategies, including the positioning of dairy alternatives as trendy and health-conscious choices, are also contributing to their popularity. Apart from this, governments and organizations are increasingly endorsing plant-based diets for health and environmental reasons, which is creating a positive outlook for the market across the globe.

Who are the key players operating in the industry?

The report covers the major market players including:

• 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 SpA

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Source:

• Almond
• Soy
• Oats
• Hemp
• Coconut
• Rice
• Others

Breakup by Formulation Type:

• Plain
  • Sweetened
  • Unsweetened
• Flavored
  • 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 (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

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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 require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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