Global Dairy Alternatives Market Size, Share, Trends, Industry Growth by Source (Soy, Almond, Coconut, & Others), by Product (Milk, Yogurt, Cheese, & Others), by Distribution Channel, and Forecast to 2027

Report ID: RC1905 | Report Format: PDF + Excel | Starting Price: 3600/- USD | Last Updated: June 21st, 2023

The global dairy alternatives market size is anticipated to register a significant CAGR of over 12% during the forecast period 2021 to 2027. The increasing incidence of lactose intolerance and rising cases of milk allergy are some major factors driving the market growth. The increasing health awareness among consumers and the changing eating pattern are further anticipated to boost the market growth. Moreover, the increasing demand for plant-based food products and increasing inclination toward a vegan diet is expected to fuel the market over the forecast period. In addition, the increasing demand for almond milk due to its health benefits is expected to increase the demand for dairy alternatives.

Market Drivers:

Health Consciousness: Increasing awareness among consumers regarding health and wellness has led to a rise in demand for dairy alternatives. Many individuals opt for dairy alternatives due to dietary restrictions, lactose intolerance, allergies, or as part of a plant-based lifestyle.

Vegan and Plant-Based Trends: The growing adoption of vegan and plant-based diets has significantly impacted the demand for dairy alternatives. Consumers are seeking plant-based alternatives to traditional dairy products such as milk, cheese, and yogurt.

Environmental Concerns: The environmental impact of the dairy industry, including greenhouse gas emissions and water usage, has motivated consumers to seek sustainable alternatives. Dairy alternatives often have a lower carbon footprint, making them a more eco-friendly choice.

Innovative Product Development: Continuous innovation in the dairy alternatives market has resulted in a wide range of products with improved taste, texture, and nutritional profiles. Manufacturers are developing innovative plant-based alternatives using various ingredients such as soy, almond, coconut, oats, and rice.

Availability and Accessibility: The increasing availability and accessibility of dairy alternatives in various retail channels, including supermarkets, health food stores, and online platforms, have made it easier for consumers to access and incorporate these products into their diets.

Changing Consumer Preferences: Consumer preferences are shifting towards healthier and more sustainable food choices. Dairy alternatives provide an alternative source of nutrients while offering diverse flavors and options, catering to evolving consumer tastes.

Food Allergies and Intolerances: Dairy alternatives serve as a suitable option for individuals with dairy allergies or lactose intolerance, allowing them to enjoy similar products without adverse reactions.

Market Outlook:

Benchmark Year 2022
Market Size lock
Market Growth (CAGR) > 12% (2023 to 2030)
Largest Market Share lock
Analysis Period 2020-2030
Market Players The Hain Celestial Group, Inc., Danone, SunOpta Inc., Oatly, and Vitasoy Company

Market Insights:

The global dairy alternatives market is bifurcated into the source, product, distribution channel, and geography. On the basis of source, the market is further segmented into soy, almond, coconut, and others. The soy segment dominated the global market in 2020 and accounted to hold the largest market share of over one-third percent of the market.  The availability of high protein and nutrients in soy is a major factor to drive the segment growth. Furthermore, the health benefits associated with the soy products is further anticipated to boost the segment growth in next upcoming years.

On the basis of product, the market is segmented into milk, yogurt, cheese, and others. The milk segment dominated the global dairy alternatives market in 2020 and is estimated to hold the largest revenue share of around two-third percent of the market. The growing elder population around the world is anticipated to increase the demand for milk-based dairy alternatives. Furthermore, the increasing demand for plant-based nutrients and rising demand for low-calorie food products are anticipated to boost the segment growth over the forecast period.

Dairy Alternatives Market Forecast

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The dairy alternatives comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The dairy alternatives market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2018-19 – Historical Year
  • 2020 – Base Year
  • 2021-2027 – Forecast Period

Market Segmentation:

By Source:

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

By Product:

  • Milk
  • Yogurt
  • Ice Cream
  • Cheese
  • Creamer
  • Others

By Distribution Channel:

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

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Geographic Coverage:

Geographically, the dairy alternatives market report comprises dedicated sections centering on the regional market revenue and trends. The dairy alternatives market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The dairy alternatives market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Dairy alternatives market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Competition Assessment:

Some of the major market players operating in the global dairy alternatives market are The Hain Celestial Group, Inc., Danone, SunOpta Inc., Oatly, and Vitasoy Company. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

  • The Hain Celestial Group, Inc.
  • Danone
  • SunOpta Inc.
  • Oatly
  • Vitasoy Company
  • Melt Organic
  • DAIYA FOODS INC.
  • Ripple Foods
  • Living Harvest Foods Inc.
  • The Whitewave Foods Company

Key Questions Answered by Dairy Alternatives Market Report

  • Global dairy alternatives market forecasts from 2021-2027
  • Regional dairy alternatives market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
  • Dairy alternatives submarket forecasts from 2021-2027 cover the market by source, by product, by distribution channel, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the dairy alternatives market
  • Analysis of the key factors driving and restraining the growth of the global, regional and country-level dairy alternatives markets from 2021-2027
  • Competitive Landscape and market positioning of top 10 players operating in the dairy alternatives market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Dairy Alternatives Market Portraiture
2.2. Global Dairy Alternatives Market, by Source, 2020 (USD Mn)
2.3. Global Dairy Alternatives Market, by Product, 2020 (USD Mn)
2.4. Global Dairy Alternatives Market, by Distribution Channel, 2020 (USD Mn)
2.5. Global Dairy Alternatives Market, by Geography, 2020 (USD Mn)

 

3. Global Dairy Alternatives Market Analysis


3.1. Dairy Alternatives Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. COVID-19 Impact Analysis

 

4. Global Dairy Alternatives Market By Source, 2018 – 2027 (USD Mn)


4.1. Overview
4.2. Soy
4.3. Almond
4.4. Coconut
4.5. Rice
4.6. Oats
4.7. Others

 

5. Global Dairy Alternatives Market By Product, 2018 – 2027 (USD Mn)


5.1. Overview
5.2. Milk
5.3. Yogurt
5.4. Ice Cream
5.5. Cheese
5.6. Creamer
5.7. Others

 

6. Global Dairy Alternatives Market By Distribution Channel, 2018 – 2027 (USD Mn)


6.1. Overview
6.2. Supermarkets & Hypermarkets
6.3. Convenience Stores
6.4. Online Retail
6.5. Others

 

7. North America Dairy Alternatives Market Analysis and Forecast, 2018 – 2027 (USD Mn)


7.1.1. Overview
7.1.2. North America Dairy Alternatives Market by Source (2018-2027 USD Mn)
7.1.3. North America Dairy Alternatives Market by Product (2018-2027 USD Mn)
7.1.4. North America Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
7.1.5. North America Dairy Alternatives Market by Country (2018-2027 USD Mn)
7.1.5.1. U.S.
7.1.5.1.1. U.S. Dairy Alternatives Market by Source (2018-2027 USD Mn)
7.1.5.1.2. U.S. Dairy Alternatives Market by Product (2018-2027 USD Mn)
7.1.5.1.3. U.S. Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
7.1.5.2. Canada
7.1.5.2.1. Canada Dairy Alternatives Market by Source (2018-2027 USD Mn)
7.1.5.2.2. Canada Dairy Alternatives Market by Product (2018-2027 USD Mn)
7.1.5.2.3. Canada Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)

 

8. Europe Dairy Alternatives Market Analysis and Forecast, 2018 – 2027 (USD Mn)


8.1.1. Overview
8.1.2. Europe Dairy Alternatives Market by Source (2018-2027 USD Mn)
8.1.3. Europe Dairy Alternatives Market by Product (2018-2027 USD Mn)
8.1.4. Europe Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
8.1.5. Europe Dairy Alternatives Market by Country (2018-2027 USD Mn)
8.1.5.1. Germany
8.1.5.1.1. Germany Dairy Alternatives Market by Source (2018-2027 USD Mn)
8.1.5.1.2. Germany Dairy Alternatives Market by Product (2018-2027 USD Mn)
8.1.5.1.3. Germany Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
8.1.5.2. U.K.
8.1.5.2.1. U.K. Dairy Alternatives Market by Source (2018-2027 USD Mn)
8.1.5.2.2. U.K. Dairy Alternatives Market by Product (2018-2027 USD Mn)
8.1.5.2.3. U.K. Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
8.1.5.3. France
8.1.5.3.1. France Dairy Alternatives Market by Source (2018-2027 USD Mn)
8.1.5.3.2. France Dairy Alternatives Market by Product (2018-2027 USD Mn)
8.1.5.3.3. France Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
8.1.5.4. Italy
8.1.5.4.1. Italy Dairy Alternatives Market by Source (2018-2027 USD Mn)
8.1.5.4.2. Italy Dairy Alternatives Market by Product (2018-2027 USD Mn)
8.1.5.4.3. Italy Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
8.1.5.5. Rest of Europe
8.1.5.5.1. Rest of Europe Dairy Alternatives Market by Source (2018-2027 USD Mn)
8.1.5.5.2. Rest of Europe Dairy Alternatives Market by Product (2018-2027 USD Mn)
8.1.5.5.3. Rest of Europe Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)

 

9. Asia Pacific Dairy Alternatives Market Analysis and Forecast, 2018 – 2027 (USD Mn)


9.1.1. Overview
9.1.2. Asia Pacific Dairy Alternatives Market by Source (2018-2027 USD Mn)
9.1.3. Asia Pacific Dairy Alternatives Market by Product (2018-2027 USD Mn)
9.1.4. Asia Pacific Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
9.1.5. Asia Pacific Dairy Alternatives Market by Country (2018-2027 USD Mn)
9.1.5.1. China
9.1.5.1.1. China Dairy Alternatives Market by Source (2018-2027 USD Mn)
9.1.5.1.2. China Dairy Alternatives Market by Product (2018-2027 USD Mn)
9.1.5.1.3. China Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
9.1.5.2. Japan
9.1.5.2.1. Japan Dairy Alternatives Market by Source (2018-2027 USD Mn)
9.1.5.2.2. Japan Dairy Alternatives Market by Product (2018-2027 USD Mn)
9.1.5.2.3. Japan Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
9.1.5.3. Rest of Asia Pacific
9.1.5.3.1. Rest of Asia Pacific Dairy Alternatives Market by Source (2018-2027 USD Mn)
9.1.5.3.2. Rest of Asia Pacific Dairy Alternatives Market by Product (2018-2027 USD Mn)
9.1.5.3.3. Rest of Asia Pacific Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)

 

10. Latin America (LATAM) Dairy Alternatives Market Analysis and Forecast, 2018 – 2027 (USD Mn)


10.1.1. Overview
10.1.2. Latin America Dairy Alternatives Market by Source (2018-2027 USD Mn)
10.1.3. Latin America Dairy Alternatives Market by Product (2018-2027 USD Mn)
10.1.4. Latin America Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
10.1.5. Latin America Dairy Alternatives Market by Country (2018-2027 USD Mn)
10.1.5.1. Brazil
10.1.5.1.1. Brazil Dairy Alternatives Market by Source (2018-2027 USD Mn)
10.1.5.1.2. Brazil Dairy Alternatives Market by Product (2018-2027 USD Mn)
10.1.5.1.3. Brazil Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
10.1.5.2. Mexico
10.1.5.2.1. Mexico Dairy Alternatives Market by Source (2018-2027 USD Mn)
10.1.5.2.2. Mexico Dairy Alternatives Market by Product (2018-2027 USD Mn)
10.1.5.2.3. Mexico Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
10.1.5.3. Rest of Latin America
10.1.5.3.1. Rest of Latin America Dairy Alternatives Market by Source (2018-2027 USD Mn)
10.1.5.3.2. Rest of Latin America Dairy Alternatives Market by Product (2018-2027 USD Mn)
10.1.5.3.3. Rest of Latin America Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)

 

11. Middle East and Africa Dairy Alternatives Market Analysis and Forecast, 2018 – 2027 (USD Mn)


11.1.1. Overview
11.1.2. MEA Dairy Alternatives Market by Source (2018-2027 USD Mn)
11.1.3. MEA Dairy Alternatives Market by Product (2018-2027 USD Mn)
11.1.4. MEA Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
11.1.5. Middle East and Africa Dairy Alternatives Market, by Country (2018-2027 USD Mn)
11.1.5.1. GCC
11.1.5.1.1. GCC Dairy Alternatives Market by Source (2018-2027 USD Mn)
11.1.5.1.2. GCC Dairy Alternatives Market by Product (2018-2027 USD Mn)
11.1.5.1.3. GCC Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
11.1.5.2. South Africa
11.1.5.2.1. South Africa Dairy Alternatives Market by Source (2018-2027 USD Mn)
11.1.5.2.2. South Africa Dairy Alternatives Market by Product (2018-2027 USD Mn)
11.1.5.2.3. South Africa Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)
11.1.5.3. Rest of MEA
11.1.5.3.1. Rest of MEA Dairy Alternatives Market by Source (2018-2027 USD Mn)
11.1.5.3.2. Rest of MEA Dairy Alternatives Market by Product (2018-2027 USD Mn)
11.1.5.3.3. Rest of MEA Dairy Alternatives Market by Distribution Channel (2018-2027 USD Mn)

 

12. Company Profiles


12.1. The Hain Celestial Group, Inc.
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. Danone
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. SunOpta Inc.
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. Oatly
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. Vitasoy Company
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. Melt Organic
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. DAIYA FOODS INC.
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. Ripple Foods
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. Living Harvest Foods Inc.
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. The Whitewave Foods Company
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
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