Dairy Alternatives Market to Register 12.5% CAGR by 2031, Amidst Dairy Substitution Preference
Dairy alternatives market size was valued at USD 23.1 billion in 2022 and is poised to grow from USD 25.99 billion in 2023 to USD 66.88 billion by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).
The rising number of cases of lactose intolerances and milk allergies would further fuel demand for dairy alternatives. Due to changes in nutrition trends and customer eating habits, the industry is expanding and experiencing increasing demand. Thus, a wide range of food and beverage goods are using the products to cater to the increasing number of consumers who are choosing plant-based and other dairy alternatives. Given that soy milk includes is flavones, which are thought to lower the incidence of breast cancer and heart disease, it is anticipated that soy milk will become more and more popular in the United States among women and the elderly.
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Top Player’s Company Profiles
- ADM
- The Hain Celestial Group, Inc.
- Danone S.A.
- Blue Diamond Growers
- The Whitewave Foods Company (a subsidiary of Danone S.A.)
- Sunopta Inc.
- Earth’s Own Food Company Inc.
- Freedom Foods Group Limited
- Sanitarium Health and Wellbeing Company
- Nutriops S.L.
- Vitasoy International Holdings Limited
- Eden Foods, Inc.
- Valsoia S.p.A.
- Good Karma Foods, Inc.
- Ripple Foods
- Califia Farms
- Oatly AB
- Coconut Dream
- Provamel (a subsidiary of Alpro)
- So Delicious Dairy Free (a subsidiary of Danone S.A.)
Dynamic Evolution of Dairy Alternatives Market Led by Industry Titans and Regional Giants
The global market for dairy substitutes is expanding quickly in several industry sectors. Prominent corporations that propel innovation and increase market share are Blue Diamond Growers, Earth’s Own, and WhiteWave (Danone). The trend of going plant-based is being led by both the USA and China whose regional leaders have tasted enough demand from consumers. Everybody is going for soy milk, almond milk or oat milk among others thereby expanding their product categories that cut across different dietary needs and preferences. There is a rising online sales volume, and this has led to the development of new distribution channels such as collaboration (with) retailers so as not to miss out on larger markets. Some of these include flavor innovations, nutrition enhancement and eco-friendliness in terms of packaging.
Global Powerhouses and Regional Leaders are Redefining Industry with Cutting-Edge Solutions
A significant degree of innovation and growth primarily emanates from major global companies such as WhiteWave (Danone), Blue Diamond Growers and Earth’s Own in the dairy alternatives market globally characterized by fierce competition. Among these giants in the industry, product innovation is being utilized to gain a bigger market share through an array of products including oat, soy or almond milk.
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Regional leaders are having a major impact on market growth by raising consumer demand for plant-based solutions, especially in China and the US. A rapid and expanding industry is indicated by the changing nature of the market which consists of increasing online sales, smart retail partnerships as well as focus on flavor development, nutrition upgrades and eco-friendly packaging.
Segments covered
- Source
- Soy, Almond, Coconut, Rice, Oats, Hemp, Others
- Application
- Milk, Ice cream, Yogurt, Cheese, Creamers Butter, Others
- Formulation
- Flavored and Plain
- Distribution Channel
- Retail (Supermarkets & Hypermarkets, Health Food Stores, Pharmacies, Convenience Stores, Other), Food Services, Online Stores, Others
- Nutrient
- Protein, Starch, Vitamins, Others
Examining Market Impact of Brands in Expanding Dairy Alternatives Landscape
Notable examples highlight the industry’s dynamic expansion in the competitive environment of the Global Dairy Alternatives Market. Using the recognized Silk label, WhiteWave (Danone) has extended its array of offerings by way of various plants-based milks like soy and almond. By means of its Almond Breeze brand name, Blue Diamond Growers has effectively captured an extensive segment of the market utilizing its sophisticated almond milk goods. As far as oat milk advancements are concerned, this is where Earth’s Own stands out as Oatly brands. Due to health and environmental issues, these substitutes have always been needed mostly in China and America hence it brings about formation of alliances for online sales strategies and retail outlets.
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Rapid Ascension of Plant-Based Options in Beverage Industry
In an unprecedent rise, alternative milk industry has been forced to revolutionize by consumers’ choices and problems of health. As there is a rising demand for lactose free and non-allergic milks, people are increasingly using soy, almond or oat derivatives as the substitutes of dairy products. Prominent companies such as Earth’s Own, Blue Diamond Growers, and WhiteWave (Danone) are leading the way in product line expansion and innovation to cater to a wide range of dietary requirements. Regional leaders in the US and China are having a major impact on market expansion through alliances and higher demand. The sector is expanding its market reach through retail partnerships and online sales, prioritising flavour innovation, nutritional benefits, and eco-friendly processes.
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