The Latin America, Middle East and Africa Dairy Alternatives Market would witness market growth of 12.0% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 840.0 Kilo Tonnes, showcasing a growth of 13.6% (2023-2030).
The alternatives can offer nutritional benefits, often rich in vitamins, minerals, and antioxidants. For example, almond milk is a good source of vitamin E, while soy milk provides protein and essential amino acids. Consumers can prefer products that align with their specific nutritional needs and preferences. Opting for these alternatives reduces the environmental footprint associated with conventional dairy farming. Plant-based options generally require less water, emit fewer greenhouse gases, and have a lower effect on land use, making them a more sustainable choice for environmentally conscious consumers.
They have proven their versatility in culinary applications. They can be seamlessly integrated into various recipes, from baking to cooking, offering a flavourful and adaptable substitute for traditional dairy. This versatility has expanded the appeal of these alternatives beyond a health-conscious niche to a broader consumer base. Choosing these alternatives allows consumers to align their dietary choices with ethical considerations, particularly regarding animal welfare. By opting for plant-based alternatives, individuals can make choices that reflect their values and contribute to a more humane and compassionate approach to food consumption.
According to the US Department of Agriculture, in 2022, total retail sales in Saudi Arabia were estimated at approximately $50 billion, and 50% was generated through modern retail channels and traditional grocery stores. The expansion of the food retail industry includes opening new supermarkets, hypermarkets, and specialty stores. The increased retail presence of dairy alternatives in these outlets makes these products more accessible to a broader consumer base. This contributes to the market's expansion. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The Brazil market dominated the LAMEA Dairy Alternatives Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $892.8 million by 2030. The Argentina market is showcasing a CAGR of 12.6% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 11.7% during (2023 - 2030).
Based on Source, the market is segmented into Soy, Almond, Coconut, Oats, Rice, and Others. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others. Based on Product, the market is segmented into Milk, Yogurt, Ice-cream, Creamers, Cheese, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Dairy Alternatives Market is Projected to reach USD 59.4 Billion by 2030, at a CAGR of 11.1%
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.
By Source (Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)
By Product(Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)
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