Dairy Alternatives Products Market Overview | Growth, Share, Trends, Opportunities and Focuses on Top Players, forecast year 2030
Dairy Alternatives Products Market Overview:
The global Dairy
Alternatives Products Market Size is expected to reach USD 46.4 Billion
by the end of the forecast period, at a CAGR of over 10.88% during the period.
Dairy alternative products are lactose-free dairy alternatives made from
plant-based milk. Coconut, almond, and soy are just a few of the plant-based
options. To meet consumer needs, global market participants are investing
heavily in product development and continual product improvement. The texture
and flavor qualities of dairy alternatives are reserved and mimicked in dairy
products using the appropriate ingredients and kind of dairy substitute as the
starting material. In recent years, the global market for dairy alternatives
has experienced tremendous expansion. The increasing incidence of
lactose-intolerant populations around the world is primarily responsible for the
market's rise. Additionally, factors such as rising food allergies, changing
dietary preferences, an increase in the number of consumers choosing veganism,
and the simple availability of alternatives are expected to fuel market growth
in the future years.
Regional Classification:
The dairy alternative products sector is likely to be
dominated by the North American market. The United States and Canada are
important contributors to market growth and are expected to continue dominating
during the review period. Furthermore, changing lifestyles and consumption
patterns are indicating a preference for dairy-free food sources, which is
another reason fueling the expansion of dairy alternatives in North America. In
Asia-Pacific, there is a growing need for nutritious convenience foods. Because
of the growing customer preference for plant-based milk sources, especially in
industrialized nations, manufacturers of ready-to-eat food are exploring
dairy-alternative as a convenient preferred milk solution. This pattern is
catching on throughout the region.
Market Segmentation:
Based on the source, the global Dairy
Alternatives Products Market Overview is segmented into soy, almond,
coconut, rice, oats, and others.
Based on the type, the global dairy alternatives products
market is segmented into milk, cheese, yogurt, ice creams, and others.
Based on the distribution channel, the global dairy
alternatives products market is segmented into store-based and non-store-based.
Based on the region, the global dairy alternatives products
market is segmented into North America, Europe, Asia-Pacific, and the Rest of
the World.
Key Players:
The major key players in the market are The Whitewaves Food
Company, The Hain Celestial Group, Blue Diamond Growers, Sunopta, Sanitarium
Health & Wellbeing Company, Freedom Foods Group, Eden Foods, Nutriops S.L.,
Earth's Own Food Company, Triballat Noyal, Valsoia S.P.A, Dohler GmBh, Organic
Valley, Panos Brands LLC, Daiya Foods Inc., Galaxy Nutritional Foods, Inc., and
Tofutti Brands Inc. Peet's Coffee is planning a vegan transition. Violife, JUST
Egg, and Beyond Meat are among the companies that have recently announced the
launch of a vegan spring menu. Cargill Turkey has announced the inauguration of
a high-tech ingredient blending manufacturing plant and a state-of-the-art
technological application center in Bursa, Orhangazi, to enable dairy
manufacturers better respond to growing customer needs.
Industry News:
Wilk, an Israeli food technology firm, has announced plans
to address dairy demand in a novel way, focusing on the production of
cell-cultured milk, which aims to undercut the dairy sector by delivering a
substitute that tastes exactly like the real thing. The cultured dairy brand is
attempting to become a major player in the manufacturing of cell-based milk,
hence increasing accessibility to the amazingly sustainable product.
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