According to a new report, published by KBV research, 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).
The Soy segment is registering a CAGR of 10.3 % during the forecast period. Soy is an extraordinary source of plant-based protein, making it an ideal alternative for individuals seeking choices to animal-derived proteins. A single cup of soy milk can provide comparable protein to cow's milk, making it a valuable option for those looking to meet their daily protein requirements. Soy can be a beneficial component of a weight management plan. Its protein content promotes a feeling of fullness, potentially reducing overall calorie intake. Additionally, soy proteins have been shown to have a thermogenic effect, meaning they contribute to the body's calorie-burning process.
The Supermarkets & Hypermarkets segment led the Global Dairy Alternatives Market by Distribution Channel in 2022; thereby, achieving a market value of $23.1 billion by 2030. Supermarkets and hypermarkets play a crucial role in educating consumers about dairy alternatives. In-store displays, product labeling, and promotional materials can provide information about the benefits of these alternatives, contributing to greater awareness. Various dairy alternatives in supermarkets and hypermarkets foster healthy competition among brands. Increased competition often leads to more affordable prices, making plant-based options accessible to a broader demographic.
The Milk segment is growing at a CAGR of 10.4 % during the forecast period. Traditional cow's milk is a common allergen. Dairy alternatives, such as almond, rice, or coconut milk, offer options for individuals with dairy allergies or sensitivities. Plant-based milks generally have a lower environmental impact compared to traditional dairy production. The production of plant-based alternatives often requires fewer natural resources, contributing to sustainability efforts. Soy milk contains phytoestrogens, plant compounds that have a mild estrogen-like effect in the body.
The Asia Pacific region dominated the Global Dairy Alternatives 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. The Europe region is anticipated to grow at a CAGR of 10.9% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 10.6% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/dairy-alternatives-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography (Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)
Companies Profiled
Unique Offerings 
