Dairy Alternatives Market Size Is Projected to Reach $50.15 Billion By 2028 | CAGR: 12.3% : Polaris Market Research

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The global dairy alternatives market size is expected to reach USD 50.15 billion by 2028 according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing people with lactose intolerance and a growing vegan population will mainly contribute to the alternatives industry growth. People becoming more health-conscious to avoid foods associated with obesity and heart diseases will also propel the growth of the industry. Lactose intolerance is increasingly prevalent among people globally, and around 65% of people suffer from some kind of food intolerance. Hence, these people must avoid dairy products and look for substitutes that will provide similar protein and vitamins.

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Competitive Insight

SunOpta Inc., Oatly, Danone, The Hain Celestial Group, Inc., DAIYA FOODS INC., Living Harvest Foods Inc., Melt Organic, Vitasoy International Holdings Limited, Earth's Own Food Company Inc., The Whitewave Foods Company, ADM, Ripple Foods, Nutriops, S.L., Blue Diamond Growers, Freedom Foods Group Ltd., Eden Foods, Inc., Organic Valley Family of Farms and CP Kelco are some of the key players operating in the global alternatives industry.

Market Insight:

Plant-based products such as almond milk and soy milk have lower calories compared to cow or buffalo milk. Hence, people prefer plant-based products to overcome obesity which is highly prevalent in the developed economies. People are also concerned about antibiotics, pesticides, and hormones present in the dairy product, an important cause for cancer, such as breast and endometrial cancer. Hence, they are avoiding milk products, which will help the products grow over the coming years.

COVID-19 pandemic is expected to positively influence the growth of the industry during the forecast period, as there is great demand for packaged items. Products such as packaged plant-based milk and beverages have more shelf life, and people are storing these products so that they don't have to go out of their residencies frequently.

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Table of Contents

Introduction

Executive Summary

Research Methodology

Dairy Alternatives Market Insights

Dairy Alternatives Market Assessment by Source

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

Global Dairy Alternatives Market, by Product

• Milk
• Yogurt
• Cheese
• Ice cream
• Creamer
• Others

Dairy Alternatives Market Assessment by Distribution Channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Online Retail
• Others

Dairy Alternatives Market Assessment by Geography

• North America (U.S., Canada)
• Europe (Austria, France, Germany, Italy, Netherlands, Spain, UK)
• Asia Pacific (China, India, Indonesia, Japan, Malaysia, Australia)
• Latin America (Argentina, Brazil, Mexico)
• Middle East & Africa (Israel, Saudi Arabia, South Africa, UAE)

Competitive Landscape

Company Profiles

List of Tables

Table 1 Global Dairy Alternatives Market, By Source, 2016 – 2028 (USD Million)

Table 2 Global Dairy Alternatives Market, By Product, 2016 – 2028 (USD Million)

Table 3 Global Dairy Alternatives Market, By Distribution Channel, 2016 – 2028 (USD Million)

Continued….

List of Figures

Figure 1. Global Dairy Alternatives Market, By Source, 2016 – 2028 (USD Million)

Figure 2. Integrated Ecosystem

Figure 3. Research Methodology: Top-Down & Bottom-Up Approach

Continued….

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers

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