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Global Dairy Alternatives Market to reach USD 70.01 billion by the end of 2030

Global Dairy Alternatives Market Size Study & Forecast, by Source (Soy, Almond, Coconut, Rice, Oats, Others), by Product Type (Non-dairy Milk, Butter, Cheeses, Yogurts, Ice Cream, Others), by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Others), and Regional Analysis, 2023-2030

Product Code: OIRFB-14171067
Publish Date: 15-11-2023
Page: 200

Global Dairy Alternatives Market is valued at approximately USD 25.19 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 13.63% over the forecast period 2023-2030. Dairy alternatives are substitute products used in place of traditional dairy items such as milk, cheese, yogurt, and butter. The recent surge in demand for non-dairy options or dairy alternatives is primarily driven by the increasing popularity of plant-based milk substitutes. These vegan milk products consist of plant extracts dissolved and dispersed in water as a base. Manufacturers employ two primary processing techniques: homogenization and thermal treatments to enhance their suspension and stability. Plant-based milk, often positioned as a healthy, sustainable, and animal-friendly choice, takes a prominent role in the non-dairy sector. These alternative products are primarily derived from legumes, nuts, or grains, ingredients widely recognized by consumers in both developed and developing economies. Furthermore, the growing adoption of dietary lifestyles such as veganism and flexitarianism is contributing to the rising demand for plant-based milk and related products. According to the latest data from the World Animal Foundation, the global vegan population has reached a remarkable milestone, with nearly 79 million individuals embracing a vegan lifestyle as of 2023.

Additionally, the rise in incidences of lactose intolerance is acting as a catalyzing factor for market growth across the globe. According to Procon.ORG, in 2020, in the United States, the prevalence of lactose intolerance was recorded at 36% of the overall global population. Similarly, Canada accounts 59% of the total population. Thus, these aforementioned factors are propelling the growth of the Dairy Alternatives Market during the estimated period. Lactose intolerance is a condition that result in difficulty digesting lactose, the sugar found in milk and dairy products. As awareness of lactose intolerance grows, more people seek dairy alternatives to consume dairy-like products. Thus, this increased demand for lactose-free options drives the growth of the Dairy Alternatives Market. Moreover, the growing awareness of the health benefits of dairy alternatives, as well as the increasing availability of dairy alternatives present various lucrative opportunities over the forecast years. However, the fluctuating prices of raw materials and high cost compared to traditional dairy products are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Dairy Alternatives Market study include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America dominated the market in 2022 owing to the a substantial increase in reported cases of cow milk allergies and lactose intolerance. Additionally, concerns about calorie intake and a higher incidence of hypercholesterolemia and obesity are leading consumers to shift toward vegan diets, embracing alternatives to dairy alternatives. Whereas, Europe is expected to grow at a significant CAGR over the forecast years due to the increasing appetite for health-conscious food and beverage choices. Dairy alternative beverages are becoming popular substitutes for traditional dairy drinks. Companies in the European market are actively engaged in innovating new products, such as soy-based juice blends and freshly prepared soy beverages, which are significantly propelling the market demand across the region.

Major market players included in this report are:
Danone S.A. (France)
Archer-Daniels-Midland Company (U.S.)
Blue Diamond Growers (U.S.)
SunOpta, Inc. (Canada)
Vitasoy International Holdings Ltd (Hong Kong)
Daiya Food, Inc. (Canada)
Goya Foods, Inc. (U.S.)
Living Harvest Foods, Inc. (India)
Organic Valley (U.S.)
Eden Foods, Inc. (U.S.)

Recent Developments in the Market:
Ø In June 2022, Strive Nutrition Corp., a manufacturer of plant-based beverages, partnered with Perfect Day to introduce a new line of milk substitutes. The Perfect Day brand of animal-free whey protein has been added to this new line of products.
Ø In April 2022, Wicked Foods, Inc., a manufacturer of plant-based foods, declared the introduction of its new line of plant-based ice creams and novelty items, which is a first-to-market product launched in the U.S.
Ø In January 2022, Chobani LLC announced the launch of a novel line of non-GMO, artificial flavor- and sweetener-free plant-based coffee creamers in four varieties.

Global Dairy Alternatives Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Source, Product Type, Distribution Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Source:

By Product Type:
Non-dairy Milk
Ice Cream

By Distribution Channel:
Convenience Stores
Online Retail

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Dairy Alternatives Market, by Region, 2020-2030 (USD Billion)
1.2.2. Dairy Alternatives Market, by Source, 2020-2030 (USD Billion)
1.2.3. Dairy Alternatives Market, by Product Type, 2020-2030 (USD Billion)
1.2.4. Dairy Alternatives Market, by Distribution Channel, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Dairy Alternatives Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Dairy Alternatives Market Dynamics
3.1. Dairy Alternatives Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing adoption of dietary lifestyles Rising incidences of lactose intolerance
3.1.2. Market Challenges Fluctuating prices of raw materials High cost compared to traditional dairy products
3.1.3. Market Opportunities Growing awareness of the health benefits of dairy alternatives Increasing availability of dairy alternatives
Chapter 4. Global Dairy Alternatives Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Dairy Alternatives Market, by Source
5.1. Market Snapshot
5.2. Global Dairy Alternatives Market by Source, Performance – Potential Analysis
5.3. Global Dairy Alternatives Market Estimates & Forecasts by Source 2020-2030 (USD Billion)
5.4. Dairy Alternatives Market, Sub Segment Analysis
5.4.1. Soy
5.4.2. Almond
5.4.3. Coconut
5.4.4. Rice
5.4.5. Oats
5.4.6. Others
Chapter 6. Global Dairy Alternatives Market, by Product Type
6.1. Market Snapshot
6.2. Global Dairy Alternatives Market by Product Type, Performance – Potential Analysis
6.3. Global Dairy Alternatives Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
6.4. Dairy Alternatives Market, Sub Segment Analysis
6.4.1. Non-dairy Milk
6.4.2. Butter
6.4.3. Cheeses
6.4.4. Yogurts
6.4.5. Ice Cream
6.4.6. Others
Chapter 7. Global Dairy Alternatives Market, by Distribution Channel
7.1. Market Snapshot
7.2. Global Dairy Alternatives Market by Distribution Channel, Performance – Potential Analysis
7.3. Global Dairy Alternatives Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
7.4. Dairy Alternatives Market, Sub Segment Analysis
7.4.1. Supermarkets/Hypermarkets
7.4.2. Convenience Stores
7.4.3. Online Retail
7.4.4. Others
Chapter 8. Global Dairy Alternatives Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Dairy Alternatives Market, Regional Market Snapshot
8.4. North America Dairy Alternatives Market
8.4.1. U.S. Dairy Alternatives Market Source breakdown estimates & forecasts, 2020-2030 Product Type breakdown estimates & forecasts, 2020-2030 Distribution Channel breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Dairy Alternatives Market
8.5. Europe Dairy Alternatives Market Snapshot
8.5.1. U.K. Dairy Alternatives Market
8.5.2. Germany Dairy Alternatives Market
8.5.3. France Dairy Alternatives Market
8.5.4. Spain Dairy Alternatives Market
8.5.5. Italy Dairy Alternatives Market
8.5.6. Rest of Europe Dairy Alternatives Market
8.6. Asia-Pacific Dairy Alternatives Market Snapshot
8.6.1. China Dairy Alternatives Market
8.6.2. India Dairy Alternatives Market
8.6.3. Japan Dairy Alternatives Market
8.6.4. Australia Dairy Alternatives Market
8.6.5. South Korea Dairy Alternatives Market
8.6.6. Rest of Asia Pacific Dairy Alternatives Market
8.7. Latin America Dairy Alternatives Market Snapshot
8.7.1. Brazil Dairy Alternatives Market
8.7.2. Mexico Dairy Alternatives Market
8.8. Middle East & Africa Dairy Alternatives Market
8.8.1. Saudi Arabia Dairy Alternatives Market
8.8.2. South Africa Dairy Alternatives Market
8.8.3. Rest of Middle East & Africa Dairy Alternatives Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Danone S.A. (France) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Archer-Daniels-Midland Company (U.S.)
9.3.3. Blue Diamond Growers (U.S.)
9.3.4. SunOpta, Inc. (Canada)
9.3.5. Vitasoy International Holdings Ltd (Hong Kong)
9.3.6. Daiya Food, Inc. (Canada)
9.3.7. Goya Foods, Inc. (U.S.)
9.3.8. Living Harvest Foods, Inc. (India)
9.3.9. Organic Valley (U.S.)
9.3.10. Eden Foods, Inc. (U.S.)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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