Dairy Alternatives Analysis Report 2024: Global Market to Reach $75.3 Billion by 2030 - Expansion of Vegan and Vegetarian Populations Generates New Market Segments - ResearchAndMarkets.com

The "Dairy Alternatives - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Dairy Alternatives was estimated at US$35.6 Billion in 2023 and is projected to reach US$75.3 Billion by 2030, growing at a CAGR of 11.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The dairy alternatives market is experiencing rapid growth, fueled by increasing consumer awareness of lactose intolerance, dietary restrictions, and ethical concerns regarding animal welfare. Additionally, the development of fermentation-based dairy alternatives, which aim to replicate the taste and nutritional benefits of traditional dairy without the use of animal products, is a burgeoning area of interest.

What Drives the Growth in the Dairy Alternatives Market?

The growth in the dairy alternatives market is driven by several factors, including the increasing prevalence of lactose intolerance and milk allergies, growing vegan and flexitarian populations, and rising consumer awareness about animal welfare and environmental issues. Technological advancements that improve the sensory attributes and nutritional values of dairy-free products are also significant contributors to market growth.

Additionally, the expansion of distribution channels and the increasing availability of these products in mainstream grocery stores, cafes, and restaurants around the world are making it easier for consumers to access and adopt dairy alternatives. The integration of dairy-free options into traditional dairy-consuming cultures, coupled with aggressive marketing and consumer education campaigns, is further bolstering the market's expansion.

What Challenges Do Dairy Alternative Producers Face?

Producers of dairy alternatives face several challenges, including regulatory hurdles, particularly with labeling and the definition of 'milk' and 'cheese.' Nutritional balancing is also crucial, as many consumers seek dairy alternatives not just for ethical reasons but also for health benefits, which means products need to be fortified with calcium, vitamins, and other nutrients typically found in cow's milk. There is also the challenge of achieving taste and texture parity with traditional dairy products, which is essential for wider consumer acceptance.

How Is Innovation Driving the Dairy Alternatives Sector?

Innovation is key to the expansion of the dairy alternatives sector. Advances in food science and technology are allowing producers to improve the taste, texture, and nutritional profile of plant-based dairy products. For instance, the use of protein isolation and blending techniques has improved the mouthfeel and flavor of plant-based milks, making them more comparable to dairy milk. Additionally, fermentation processes are being explored to develop dairy-like products that can offer the probiotic benefits of traditional yogurts without any dairy content. These technological advancements are crucial for meeting consumer expectations and expanding the market reach of dairy alternatives.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Milk Application segment, which is expected to reach US$34.5 Billion by 2030 with a CAGR of a 13.9%. The Ice-Cream Application segment is also set to grow at 7.9% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, which was estimated at $9.2 Billion in 2023, and China, forecasted to grow at an impressive 15.1% CAGR to reach $18.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Dairy Alternatives Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Dairy Alternatives Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Blue Diamond Growers, Dohler GmbH, Earth's Own Food Company Inc., and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Questions Answered:

• How is the Global Dairy Alternatives Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Key Attributes:

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• Dairy Alternatives - Global Key Competitors Percentage Market Share in 2024 (E)
• Global Economic Update
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Surging Consumer Interest in Plant-Based Diets Propels Dairy Alternative Market
• Innovations in Almond, Soy, and Oat Milk Enhance Consumer Choice and Satisfaction
• Rising Health Consciousness and Lactose Intolerance Drive Demand for Dairy-Free Products
• Expansion of Vegan and Vegetarian Populations Worldwide Generates New Market Segments
• Growing Retail Presence and Consumer Accessibility to Dairy Alternatives
• Development of Specialized Products for Allergy-Sensitive Consumers
• Shifts in Food Service Industry Offerings to Include More Plant-Based Options

FOCUS ON SELECT PLAYERS (Total 66 Featured)

• Blue Diamond Growers
• Dohler GmbH
• Earth's Own Food Company Inc.
• Eden Foods, Inc.
• Freedom Foods Group Limited
• Nutriops, S.L
• Organic Valley Family of Farms
• PANOS Brands
• Sanitarium Health and Wellbeing Company
• SunOpta, Inc.
• The Hain Celestial Group, Inc.
• The WhiteWave Foods Company
• Triballat Noyal
• Valsoia S.P.A

For more information about this report visit https://www.researchandmarkets.com/r/7frugr

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240925004472/en/