Dairy Alternatives Market 2022 - Future Opportunity and Growth Analysis Report to 2028

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Dairy Alternatives Market - Demand Outlook,
Competitive Analysis, Application Scope and
Forecasts To 2028
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• Dairy Alternatives Market Size is expected to
  surpass USD 49 Billion by 2028. Increasing
  consumption of dairy alternatives due to their
  lactose free characteristics will drive the
  market demand.
• According to market analysis, some major findings
  of the dairy alternatives market report include
• Increasing demand for lactose-free products from
  the food beverage industry is driving the
  market growth.
• High consumption of plant-based beverages owing
  to their low sugar and low calories content is
  boosting the market demand.
• Rising demand for rice milk and oat milk for
  their high nutrient value will positively impact
  the growth of the market.
• Soy-based dairy substitutes are expected to be
  the prominent product category of the market with
  a market size of over USD 10 billion in 2021 and
  a CAGR of more than 10 during the forecasted
  timeframe owing to its various health benefits.
• Beverage application to capture a significant
  share of over 85 in 2021. Rising health care
  awareness and busy lifestyles will drive the
  market growth.
• Increasing consumption of light-tasting
  unsweetened non-dairy food will positively
  influence the growth of the sector.
• Growing numbers of mainstream stores in urban
  area will boost the dairy alternatives business.

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• The dairy alternatives market from beverage
  application constitutes a significant share of
  market size with more than USD 21 billion in
  2021. Changing consumers preference for
  lactose-free plant-based products is expected to
  drive the demand for dairy alternatives during
  the forecasted timeframe. In the beverage
  industry, dairy alternatives are utilized to
  increase stability, viscosity, flavoring, and
  taste in drinks. The growing inclination towards
  adoption of plant-based product content in a
  beverage for milk allergy, lactose intolerance,
  and phenylketonuria amongst consumers will fuel
  product demand.
• The dairy alternatives market from sweetened and
  unsweetened formulations will surpass over USD 45
  billion by 2028. Unsweetened milk does not
  contain any added sugar or sweetening ingredient,
  typically comprising half the calorie contents
  found in cow milk. Rising intake of light-tasting
  unsweetened dairy-free products by diabetic
  consumers will positively influence the market
  demand.
• Online stores will emerge as one of the
  fastest-growing types of dairy alternatives
  segment with a 10 CAGR up to 2028. It utilizes
  the web, mobile phones, and applications to
  conduct sales between manufacturers and
  end-users. Online stores are providing a wide
  variety of dairy-free food and beverage products
  by offering discounted rates compared to the
  traditional retail prices for attracting
  customers. Further, online services have also
  increased in developed as well as developing
  countries due to their cost-effectiveness and
  easy accessibility. The rising adoption of online
  sales channels has influenced the market
  positively.

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• Regional Analysis

• Europe is the third-largest market for dairy
  alternatives after the Asia Pacific and North
  America and will surpass USD 6 billion in revenue
  by 2028. Key benefits associated with the product
  such as lactose-free, sugar-free,
  cholesterol-free, and gluten-free, will provide a
  strong outlook for business expansion in the
  European region. Further, growing mainstream
  stores, specialty stores, and online stores
  showcasing non-dairy beverages under private
  labels coupled with increasing demand for
  plant-based derivatives are the major factors
  contributing to the growth of European
  manufacturers.

• Competitive Analysis

• The market share is moderately fragmented with
  the presence of multinational corporations and
  growing regional manufacturers such WhiteWave
  Foods, Blue Diamond Growers, SunOpta, Inc, So
  Delicious, Freedom Foods, Valsoia SpA, Pacific
  Foods, New Barn, Califia Farms, and MALK
  Organics. Key players are anticipated to invest
  in new product launches, acquisitions, and
  expansion to gain a competitive advantage and
  enhancement of the consumer base. In November
  2021, Blue Diamond Growers has expanded its
  product portfolio by the launch of new almond
  breeze products by the name almond breeze extra
  creamy almond milk.

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