Dairy substitutes market; segmented by source; By distribution channel; By product; & Region – Global Market Size, Share & Trends Analysis 2019-2020 and Forecast to 2030

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The global dairy substitutes market is expected to exceed USD 54.73 billion by 2030 from USD 24.65 billion in 2020 at a CAGR of 12.7% in the coming years i.e. 2021-30 . Due to changing consumer eating habits and food trends, the industry is gaining momentum and experiencing high demand.

New York, July 15. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Dairy Alternatives Market; Segmented By Source; By Distribution Channel; By product ; and Region – Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecast to 2030″ – https://www.reportlinker.com/p06191923/?utm_source=GNW

Product presentation
Dairy alternatives are foods and beverages that can be used in place of dairy products. These plant-based foods and beverages are considered a healthier alternative to dairy products. Soy milk, rice milk, and almond milk are some of the most common dairy alternatives around the world. Due to the availability of a variety of important vitamins and minerals, dairy alternatives are considered safe. They are also low in fat and cholesterol, and lactose free. Dairy alternatives have grown in popularity in both mature and emerging markets. This is due to an increase in the number of people with dairy allergies. Additionally, increasing health awareness and disposable income have contributed to the growth of the dairy alternatives industry.

Market Highlights
The global dairy substitutes market is expected to project a notable CAGR of 12.7% in 2030.
During the forecast period, rising cases of milk allergies and lactose intolerance are expected to further fuel the demand for dairy alternatives. As a result, dairy alternatives are being used in an increasing number of food and beverage products to cater to the growing number of consumers who prefer plant-based and other dairy alternatives.

Global Dairy Substitutes Market: Segments
Soybean Segment Expected to Grow with Highest CAGR in 2020-30
The global dairy alternatives market is segmented by source into soy, almond, coconut, rice, oat, and others. The soybean segment held the largest market share in 2020. Soymilk, which is rich in nutrients and protein compared to other dairy alternatives, is expected to lead the segment during the forecast period. Soymilk has been used in the Asia-Pacific region for centuries and is used in a variety of recipes, which is expected to keep the demand for the product stable over the forecast period. It is used to help people lose weight and lower blood cholesterol levels. It also helps reduce the risk of various post-menopausal problems, as well as improve cardiovascular health, making it a common supplement.

Hypermarkets & Supermarkets Segment Expected to Grow with Highest CAGR in 2020-30
The global dairy alternatives market is segmented by distribution channel into convenience stores, hypermarkets & supermarkets, e-commerce platforms and others. The hypermarkets and supermarkets segment held the largest market share in 2020. Supermarkets and hypermarkets are massive retail stores that usually offer a variety of retail product categories under one roof. The wide variety of products available and the convenience of real-time brand comparison for customers are the main reasons for the popularity of hypermarkets and supermarkets in this market. In order to be open to consumers, supermarkets are normally located close to a residential area. However, due to the lack of land near residential areas, the majority of supermarket and hypermarket chains are expanding outside the city.

Milk Segment Expected to Grow with Highest CAGR in 2020-30
The global dairy alternatives market is divided into by-products into milk, yogurt, ice cream, cheese, cream and others. During the forecast period, the milk segment is expected to grow at the fastest rate. In Europe, the growing elderly population has resulted in a preference for milk-based dairy alternatives. Rising health concerns regarding soy milk, especially among breast cancer survivors, are expected to stifle the market growth. Over the next eight years, the growing demand for low calorie foods, combined with the growing popularity of plant-based nutritional products, is expected to drive demand for this product in Europe.

Market dynamics
Drivers
Lactose Intolerance and Growing Health Awareness
The demand for dairy alternatives has accelerated due to the growing number of lactose intolerant and dairy allergic consumers. Milk and other dairy products such as ice cream, cheese and yogurt contain lactose, which is the main carbohydrate. Abdominal discomfort, diarrhea, nausea, stomach distension, flatulence and constipation are some of the signs of lactose intolerance. As consumers become more aware of healthy eating habits, the growing number of these allergies is encouraging the consumption of dairy alternatives. As a result, the demand for a variety of dairy alternatives, such as plant-based non-dairy products like milk, ice cream, creams and cheese, is increasing among consumers.

Market tastes and increased demand for organic food
Organic foods and beverages have the potential to transform the dairy alternatives market as a whole. Market tastes are shifting towards healthier foods and beverages, due to a better understanding of the practical health benefits of organic food intake. Clean Label foods and beverages have captured the interest of consumers around the world, increasing the demand for organic ingredients. Developing countries such as China and India are expected to witness a significant increase in the demand for organic food ingredients from the supply side during the forecast period.

Detention
Allergies associated with plant sources such as nuts and almonds

Allergies associated with plant sources used to produce dairy replacement products are one of the major factors limiting the growth of the market. Despite the high nutritional value of soy, the presence of anti-nutritional components in soy can cause allergies. When the human immune system misinterprets the harmless proteins found in soy as harmful, antibodies are produced to fight them, resulting in soy allergy. Nuts, such as almonds, are another product that causes allergies. As a result, these people should avoid almond products like almond milk and other non-dairy almond products.

Global Dairy Alternatives Market: Key Players
Organic Valley

Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence, SWOT analysis

Blue diamond producers
SunOpta Inc.
Earth’s Own Food Inc.
Living Harvest Foods Inc.
Kikkoman Corporation
rebel kitchen
Trademarks Panos LLC
WhiteWave Food Company
Other top players

Global Dairy Alternatives: Regions
The global dairy substitutes market is segmented on the basis of regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Global dairy substitutes in Asia-Pacific held the largest market share in 2020. Asia-Pacific demand for the product is expected to increase as the population of developing countries such as India, China and the Japan increases and disposable income increases. Rising cases of lactose intolerance, combined with growing health concerns over harmful additives used in dairy products, is expected to drive demand for non-dairy alternatives such as soy milk, almond milk, rice milk and other dairy alternatives.

The global dairy alternatives market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – US & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Mexico, Argentina, Brazil and rest of Latin America
European Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – UK, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Market Size, Share, Trends, Opportunities, YoY Growth, CAGR of Asia-Pacific Market – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East & Africa Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – North Africa, Israel, GCC, South Africa & Rest of MENA
The Global Dairy Substitutes Market Report Also Contains Analysis of:

Dairy Alternatives Market Segments:
By origin
Soy
Almond
Coconut
Rice
oats
Others
By distribution channel
convenience stores
Hypermarkets & supermarkets
E-commerce platforms
Other
By product
Milk
Yogurt
Ice cream
Cheese
Creamer
Others
Market dynamics of dairy substitutes
Dairy Alternatives Market Size
Offer and demand
Current trends/issues/challenges
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Read the full report: https://www.reportlinker.com/p06191923/?utm_source=GNW

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