About Dairy Substitutes
Dairy alternatives are food and beverages which might be used as a substitute for the farm. This food and beverages are derived from plants and are considered a real health substitute to dairy products. Soy milk, rice milk, and almond milk are among the foremost standard selection for dairy substitutes worldwide. Dairy farm alternatives are considered healthy due to the presence of a variety of essential vitamins and minerals. They are additionally low on fats, cholesterol and have zero concentration of milk sugar.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.6% |
The dairy substitutes market is becoming increasingly crowded, with established players in the food and beverage industry as well as new startups vying for market share. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Living Harvest Foods (United States), Panos Brands (United States), Valsoia S.p.A (Italy), Danone (France), Earth’s Own Food Company (Canada), Kite Hill (United States), Blue Diamond Growers (United States), Freedom Foods Group (Australia), SunOpta (Canada) and Sanitarium Health and Wellbeing Company (Australia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Melt Organic (United States), The Hain Celestial (United States), Oatly (Sweden), Triballat Noyal (France) and Ripple Foods (United States).
Segmentation Overview
AMA Research has segmented the market of Global Dairy Substitutes market by Type (Plain Sweetened, Plain Unsweetened, Flavoured Sweetened and Flavoured Unsweetened), Application (Cheese and Cheese Products, Creamers, Yogurt, Ice Cream and Desserts, Milk and Sauces and Dressings) and Region.
On the basis of geography, the market of Dairy Substitutes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Packaging, the sub-segment i.e. Bottles will boost the Dairy Substitutes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Milk will boost the Dairy Substitutes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Soy will boost the Dairy Substitutes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Product Development for the Addition of Flavours and Additives for longer Shelf Life and Clean Label Manufacturing and Premium Packaging
Market Growth Drivers:
Increase in Demand for the Dairy Substitutes due to Adaptation of Vegan Diet and The rise in Lactose Intolerance Population and Milk Allergies
Challenges:
Fluctuating Prices of Raw Material
Restraints:
Allergies Associated with Plant-Based Sources like Soy and Almonds
Opportunities:
Rising Demand for Organic Diet Supplements and Foods and Increasing Demand for Functional Foods in Fitness and Gymnasium Industry
Market Leaders and their expansionary development strategies
In October 2022, Coffee machine manufacturer WMF has partnered with pea-based dairy alternative company vly to promote plant-based products in its native German market.
In December 2023, Life Health Foods Pvt. Ltd. launched the new vegan drink So Good Oat Caramel beverage – a dairy-free, plant-based milk. The new delicious So Good Oat Caramel beverage delivers what the brand promises – a healthy and versatile drink
Key Target Audience
Dairy Substitutes Manufacturers, Distributor/Supplier, Raw Material Provider, Research Institutes, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.