Dairy Alternatives Market

Global Dairy Alternatives Market Size, Share & Industry Trends Analysis Report By Source (Soy, Almond, Coconut, Oats, Rice), By Distribution Channel, By Product (Milk, Yogurt, Ice-cream, Creamers, Cheese), By Regional Outlook and Forecast, 2023 - 2030

Report Id: KBV-19034 Publication Date: December-2023 Number of Pages: 421
Special Offering:
Industry Insights | Market Trends
Highest number of Tables | 24/7 Analyst Support

Analysis of Market Size & Trends

The Global Dairy Alternatives Market size is expected to reach $59.4 billion by 2030, rising at a market growth of 11.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 8,927.2 Kilo Tonnes experiencing a growth of 10.3% (2019-2022).

Dairy alternative creamers, often derived from plant-based sources like nuts, seeds, or legumes, tend to have lower saturated fat content than traditional dairy creamers. This makes them a heart-healthy choice, aligning with dietary recommendations to reduce saturated fat intake. Consequently, the creamer segment would acquire nearly 6% of the total market share by 2030. Many dairy alternative creamers are fortified with essential nutrients such as vitamins D and B12 and calcium. These additions address potential nutrient gaps in plant-based diets, providing a convenient way to incorporate vital nutrients traditionally associated with dairy products.

Dairy Alternatives Market Size - Global Opportunities and Trends Analysis Report 2019-2030

The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, in September, 2023, SunOpta, Inc. announced the launch of SOWN Brown Sugar Organic Oat Creamer for its SOWN oat coffee creamers portfolio. The new Brown Sugar Organic Oat Creamer comes is gluten-free certified and non-GMO Project verified. Additionally, it is completely vegan which further appeals to a larger number of customers. Moreover, in December, 2022, Vitasoy International Holdings Ltd. released Vitasoy Plus, a plant-based milk range. The range contains almond and oat flavours, and the drinks are completely lactose and cholesterol-free.

KBV Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Archer Daniels Midland Company is the forerunner in the Market. Companies such as Danone, S.A., Blue Diamond Growers, Inc. and SunOpta, Inc. are some of the key innovators in Market. In August, 2021, Danone, S.A. released Silk Greek Style Coconutmilk Yogurt Alternatives. The new product is completely dairy-free and has 10 grams of plant-based protein. The product is available in four different flavors namely, Lemon, Vanilla, Blueberry, and Strawberry.

Dairy Alternatives Market - Competitive Landscape and Trends by Forecast 2030

Market Growth Factors

Consumers are increasingly showing a preference for vegan food options

Many consumers choose vegan food options as part of a broader commitment to health and wellness. Plant-based diets are usually associated with lower saturated fats, which can contribute to improved heart health. Additionally, a diet rich in plant-based foods is generally higher in fiber, vitamins, and antioxidants. Moreover, awareness of the ecological impact of conventional animal agriculture has led consumers to seek more sustainable food choices. Plant-based alternatives require fewer natural resources, produce fewer greenhouse gas emissions, and have a lower environmental footprint than traditional dairy farming. As consumers prioritize health, sustainability, and ethical considerations in their food choices, so the market will likely see sustained growth.

Increase in lactose intolerance and milk allergy

Lactose intolerance is characterized by the body's inability to digest lactose, the sugar found in milk properly. The global prevalence of lactose intolerance varies, with specific populations having a higher incidence. As awareness of lactose intolerance grows, individuals with this condition turn to these alternatives as a solution to avoid gastrointestinal discomfort and other related symptoms. Plant-based milk, dairy-free yogurts, cheeses, and ice creams cater to the distinct needs of individuals who cannot consume conventional dairy products. Parents of children with milk allergies or lactose intolerance seek appropriate alternatives for infant nutrition. Thus, the growth in lactose intolerance and milk allergies has created a substantial market opportunity.

Market Restraining Factors

Issues of allergies among soy food consumers

Many dairy substitutes, including soy milk, soy-based cheese, and soy-based yogurt, contain soy proteins that can induce allergic reactions. While soybean oil and soy lecithin were initially considered safe for those with soy allergies, it's now recognized that these products may still contain trace amounts of soy protein, potentially leading to allergic responses. Given that numerous of these alternatives are manufactured in facilities that also handle allergens like nuts or soy, the risk of cross-contamination exists at various stages of production, including sourcing, processing, and packaging. Due to the above factors, market growth will be hampered in the coming years.

Dairy Alternatives Market Share 2022

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product launches.

Source Outlook

On the basis of source, the market is segmented into soy, almond, rice, coconut, oats, and others. The almond segment acquired a substantial revenue share in the market in 2022. Almond milk is a nutritional choice for dairy products due to its elevated lipids, fiber, and protein levels. A significant level of acceptance and utilization is anticipated from both consumer and end-user sectors. Almond is rich in vital minerals, including zinc, copper, magnesium, phosphorus, and iron, aiding blood pressure regulation, oxygenation, and disease prevention. Its high manganese and vitamin E content makes almond milk a more potent beverage for enhancing skin health and preventing cancer.

Dairy Alternatives Market Share and Industry Analysis Report 2022

Distribution Channel Outlook

On the basis of distribution channel, the market is categorized supermarkets & hypermarkets, online retail, convenience stores, and others. The convenience stores segment covered a considerable revenue share in the market in 2022. The availability of these alternatives in these stores allows individuals with dietary preferences or restrictions to access suitable options while moving quickly. Convenience stores offering these alternatives contribute to the growing popularity of plant-based lifestyles. This includes individuals adopting plant-based diets for ethical, environmental, or health reasons. Incorporating these alternatives expands the variety of products available in convenience stores. This can attract new consumers and encourage existing consumers to explore and try different plant-based options.

Product Outlook

By product, the market is classified into milk, creamers, yogurt, ice-cream, cheese and others. The yogurt segment garnered a significant revenue share in the market in 2022. Yogurt alternatives from plant sources like almond, soy, coconut, or oat are naturally lactose-free. This makes them suitable for individuals who are lactose intolerant and cannot digest the sugar (lactose) present in dairy-based yogurts. Some non-dairy yogurts are naturally lower in saturated fat than traditional dairy yogurts. Some non-dairy yogurts are enriched with probiotics, similar to traditional yogurts. Probiotics are healthy bacteria that sustain gut health and digestion.

Dairy Alternatives Market Report Coverage
Report Attribute Details
Market size value in 2022 USD 25.9 Billion
Market size forecast in 2030 USD 59.4 Billion
Base Year 2022
Historical Period 2019 to 2021
Forecast Period 2023 to 2030
Revenue Growth Rate CAGR of 11.1% from 2023 to 2030
Number of Pages 421
Number of Tables 834
Quantitative Data Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Source, Product, Distribution Channel, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Danone, S.A., SunOpta, Inc., Blue Diamond Growers, Inc., The Hain Celestial Group, Inc., Earth’s Own Food Company Inc., PANOS Brands, LLC (Hammond, Kennedy, Whitney & Company, Inc.), Archer Daniels Midland Company, Eden Foods, Inc., Vitasoy International Holdings Ltd. and Kikkoman Corporation
Growth Drivers
  • Consumers are increasingly showing a preference for vegan food options
  • Increase in lactose intolerance and milk allergy
Restraints
  • Issues of allergies among soy food consumers 

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated the highest revenue share in the market. The Asia-Pacific region is witnessing an increasing demand for fortified nutritional food and beverage products due to busy lifestyles and rising disposable incomes. Within this trend, the adoption of these alternatives is expected to grow faster due to consumer preferences. Food manufacturers are introducing various forms of soymilk to cater to the growing consumer interest in healthy beverages and pasteurized soymilk as dairy substitutes, offering unique flavor options.

Free Valuable Insights: Global Dairy Alternatives Market size to reach USD 59.4 Billion by 2030

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danone, S.A., SunOpta, Inc., Blue Diamond Growers, Inc., The Hain Celestial Group, Inc., Earth’s Own Food Company Inc., PANOS Brands, LLC (Hammond, Kennedy, Whitney & Company, Inc.), Archer Daniels Midland Company, Eden Foods, Inc., Vitasoy International Holdings Ltd. and Kikkoman Corporation.

Strategies deployed in the Market

  • Sep-2023: SunOpta, Inc. announced the launch SOWN Brown Sugar Organic Oat Creamer for its SOWN oat coffee creamers portfolio. The new Brown Sugar Organic Oat Creamer comes is gluten-free certified and non-GMO Project verified. Additionally, it is completely vegan which further appeals to a larger number of customers.
  • Jul-2023: SunOpta, Inc. signed a partnership with BellRing Brands, a ready-to-drink (“RTD”) protein shakes manufacturer, to manufacture high protein beverages. The partnership provides SunOpta with an opportunity to expand into the ready-to-drink protein beverages market.
  • Jun-2023: Blue Diamond Growers, Inc. partnered with Brightseed, a bioactives company, to investigate the unexplored health potential of nonpareil California almonds. The partnership would pave the way for the exploration of nutritional benefits associated with these almonds.
  • Dec-2022: Vitasoy International Holdings Ltd. released Vitasoy Plus, a plant-based milk range. The range contains almond and oat flavours, and the drinks are completely lactose and cholesterol-free.
  • Aug-2022: Archer Daniels Midland Company came into partnership with Benson Hill, Inc., a food technology company. Under the partnership, the two companies would undertake innovative activities for the production of soy ingredients that would serve the increasing customer demand for plant-based proteins.
  • Sep-2021: Archer Daniels Midland Company announced the opening of a new flavor production facility in China. The new facility would be used to mass produce beverages and healthy foods that would help the company meet the growing demand for these products. The move comes in line with the company's global expansion strategy.
  • Aug-2021: Danone, S.A. released Silk Greek Style Coconutmilk Yogurt Alternatives. The new product is completely dairy-free and has 10 grams of plant-based protein. The product is available in four different flavors namely, Lemon, Vanilla, Blueberry, and Strawberry.
  • Apr-2021: SunOpta, Inc. announced the acquisition of Dream plant-based beverage brand from The Hain Celestial Group, Inc., an American food and beverages company. The acquisition strengthens SunOpta’s Plant-Based Foods and Beverages business.
  • Feb-2021: Danone, S.A. took over Follow Your Heart, a plant-based products manufacturer. The acquisition strengthens Danone's North American plant-based business.

Scope of the Study

Market Segments Covered in the Report:

By Source (Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)

  • Soy
  • Almond
  • Coconut
  • Oats
  • Rice
  • Others

By Distribution Channel (Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)

  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Online Retail
  • Others

By Product(Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)

  • Milk
  • Yogurt
  • Ice-cream
  • Creamers
  • Cheese
  • Others

By Geography (Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Danone, S.A.
  • SunOpta, Inc.
  • Blue Diamond Growers, Inc.
  • The Hain Celestial Group, Inc.
  • Earth’s Own Food Company Inc.
  • PANOS Brands, LLC (Hammond, Kennedy, Whitney & Company, Inc.)
  • Archer Daniels Midland Company
  • Eden Foods, Inc.
  • Vitasoy International Holdings Ltd.
  • Kikkoman Corporation
Need a report that reflects how COVID-19 has impacted this market and its growth? Download Free Sample Now

Frequently Asked Questions About This Report

This Market size is expected to reach $59.4 billion by 2030.

Consumers are increasingly showing a preference for vegan food options are driving the Market in coming years, however, Issues of allergies among soy food consumers restraints the growth of the Market.

Danone, S.A., SunOpta, Inc., Blue Diamond Growers, Inc., The Hain Celestial Group, Inc., Earth's Own Food Company Inc., PANOS Brands, LLC (Hammond, Kennedy, Whitney & Company, Inc.), Archer Daniels Midland Company, Eden Foods, Inc., Vitasoy International Holdings Ltd. and Kikkoman Corporation.

In the year 2022, the market attained a volume of 8,927.2 Kilo Tonnes experiencing a growth of 10.3% (2019-2022).

The Supermarkets & Hypermarkets segment led the Market by Distribution Channel in 2022; thereby, achieving a market value of $23.1 billion by 2030.

The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $27.3 billion by 2030.

HAVE A QUESTION?

HAVE A QUESTION?

Call: +1(646) 600-5072

SPECIAL PRICING & DISCOUNTS


  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities

Unique Offerings Unique Offerings


  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Support with 10% customization free after sale

Trusted by over
5000+ clients

Our team of dedicated experts can provide you with attractive expansion opportunities for your business.

Client Logo