Dairy Alternatives Products Market Research Report - Forecast till 2027

Dairy Alternatives Products Market Research Report: Information by Source (Soy, Almond, Coconut, Rice, Oats and others), Type (Milk, Cheese, Yoghurt, Ice Creams and others), Distribution Channel [Store-Based (Supermarkets & Hypermarkets, Convenience Stores and others) and Non-Store-Based] and Region (North America, Europe, Asia-Pacific and RoW) - Forecast till 2027

ID: MRFR/F-B & N/1096-HCR | February 2021 | Region: Global | 90 pages         

Dairy Alternatives Products Market

Dairy Alternatives Products Market is projected to register a CAGR of 10.88% and reach a value of USD 46.59 Billion by 2028.

Segmentation

By Source Soy Almond Coconut Rice Oats
By Type Milk Cheese Yoghurt Ice Creams
By Distribution Channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific RoW

Key Players

  • The Whitewaves Food Company (US)
  • The Hain Celestial Group (US)
  • Blue Diamond Growers (US)
  • Sunopta (Canada)
  • Sanitarium Health and Wellbeing Company (Australia)
  • Freedom Foods Group (Australia)
  • Eden Foods (US)
  • Nutriops S.L. (Spain)
  • Earth's Own Food Company (Canada)
  • Triballat Noyal (France)

Drivers

  • Increasing lactose Intolerance
  • Growing Consumer Preference for Vegan Diet
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Dairy Alternatives Products Market Overview


According to the research reports by MRFR, the global dairy alternatives products market is projected to acquire USD 46.59 Billion by the end of 2027. Furthermore, the market is anticipated to register a healthy CAGR of over 10.88% during the assessment era.


Dairy alternative products refer to the products derived from plant-based milk and are lactose-free. The numerous plant-based sources include coconut, almond, and soy. The global market players are making heavy investments in product development and continuous product improvement to serve consumer needs. The textural characteristics and taste of dairy alternatives products are reserved and imitated to dairy products using the proper ingredients and kind of dairy substitute as the starting material. The global market for dairy alternatives products has recorded enormous growth in the last few years. The market's growth is primarily attributed to the increasing prevalence of lactose-intolerant populations across the globe. Furthermore, the factors such as growing food allergies, changing food trends, increasing number of consumers opting for veganism, and easy availability of alternatives are also projected to boost the market's growth over the coming years.


Segmentation


Dairy Alternatives Products Market has been segmented based on source, type, distribution channel, and region.


Based on source, the global dairy alternatives products has been classified as soy, almond, coconut, rice, oats, and others. The almond segment dominated the global dairy alternative products market and is expected to witness the highest CAGR during the forecast period.


Based on type, the global dairy alternatives products market has been classified as milk, cheese, yogurt, ice creams, and others. The milk segment is expected to hold a significant share in the global dairy alternatives products. However, the cheese segment is expected to be the fastest-growing during the review period


The global dairy alternatives products market has been categorized, based on distribution channel, into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is expected to account for the larger revenue share of the market. However, the non-store-based segment is expected to exhibit the higher growth rate during the forecast period, 2020–2027.


The global dairy alternatives products industry has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.


The North American dairy alternatives products industry has further been segmented into the US, Canada, and Mexico. The European dairy alternatives products has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The dairy alternatives products market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The Dairy Alternatives Products Industry in the rest of the world has been segmented into South America, the Middle East, and Africa.


Key Players


The Whitewaves Food Company (US), The Hain Celestial Group (US), Blue Diamond  Growers (US), Sunopta (Canada), Sanitarium Health and Wellbeing Company (Australia), Freedom Foods Group (Australia), Eden Foods (US), Nutriops S.L. (Spain), Earth's Own Food Company (Canada), Triballat Noyal (France), Valsoia S.P.A (Italy), Dohler GmBh (Germany),Organic Valley (US), and Panos Brands LLC (US), Daiya Foods Inc. (Canada), Galaxy Nutritional Foods, Inc. (US), and Tofutti Brands Inc. (US) are some of the key players in the global dairy alternatives products market.


Regional Market Summary


Global Dairy Alternatives Products Market Share (%), by Region, 2018  Dairy Alternatives Products Market


Source: Secondary Sources and MRFR Analysis


North America market is expected to hold a major share in dairy alternatives products industry. The US and Canada are major contributors to the growth of the market and are likely to continue dominating over the review period. Furthermore, the changing lifestyle and consumption pattern is showing an inclination towards dairy-free food sources, which is another factor adding fuel to the growth of the North America dairy alternatives products. The demand for healthy convenience food is increasing in Asia-Pacific. The manufacturers producing ready-to-eat food are considering dairy-alternative as a convenient preferred milk solution due to the increasing consumer inclination towards plant-based milk sources, especially in developed countries. This trend is spreading across the region.

Recent Development



  • February 2022- Wilk, an Israeli food technology company, has announced its plans to confront dairy demand through a unique method, concentrating on the development of cell-cultured milk, which targets undercut the dairy industry by providing an alternative with the same taste as the original thing. The cultivated dairy brand is making efforts to be a prominent player in cell-based milk production, enhancing accessibility of the remarkably sustainable product.

  • March 2022- Peet's Coffee is set to go vegan. The company has just announced the launch of a vegan spring menu that includes Violife, JUST Egg, and Beyond Meat.

  • March 2022- Cargill Turkey, to help dairy manufacturers better respond to growing consumer demands, has announced the opening of a high-tech ingredient blending production plant and a state-of-the-art technical application center in Bursa, Orhangazi.


Global Dairy Alternatives Products Market, by Source



  • Soy

  • Almond

  • Coconut

  • Rice

  • Oats

  • Others


Global Dairy Alternatives Products Market, by Type



  • Milk

  • Cheese

  • Yogurt

  • Ice creams

  • Others


Global Dairy Alternatives Products Market, by Distribution Channel



  • Store-Based

    • Supermarkets & Hypermarkets

    • Convenience Stores

    • Others



  • Non-Store-Based


Global Dairy Alternatives Products Market, by Region



  • North America

    • US

    • Canada

    • Mexico





  • Europe

    • Germany

    • France

    • Italy

    • Spain

    • UK

    • Rest of Europe





  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia and New Zealand

    • Rest of Asia-Pacific





  • Rest of the World (RoW)

    • South America

    • Middle East

    • Africa




Intended Audience



  • Dairy alternative manufacturers

  • Raw material suppliers

  • End users

  • Retailers and wholesalers

  • E-commerce companies

  • Traders, importers, and exporters



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Frequently Asked Questions (FAQ) :

Whitewaves Food Company (US), The Hain Celestial Group (US), Blue Diamond Growers (US), Sunopta (Canada), Sanitarium Health and Wellbeing Company (Australia), Freedom Foods Group (Australia), Eden Foods (US), Nutriops S.L. (Spain), Earth's Own Food Company (Canada), Triballat Noyal (France), Valsoia S.P.A (Italy), Dohler GmBh (Germany),Organic Valley (US), and Panos Brands LLC (US), Daiya Foods Inc. (Canada), Galaxy Nutritional Foods, Inc. (US), and Tofutti Brands Inc. (US)