Dairy Alternatives Market by Source (Almond, Soy, Oats, Hemp, Coconut, Rice and Others), Application (Cheese, Creamers, Yogurt, Ice Creams, Milk and Others), Formulation (Plain and Flavored) and Geography (North America, Europe, APAC and RoW)-Forecast up

Dairy Alternatives Market by Source (Almond, Soy, Oats, Hemp, Coconut, Rice and Others), Application (Cheese, Creamers, Yogurt, Ice Creams, Milk and Others), Formulation (Plain and Flavored) and Geography (North America, Europe, APAC and RoW)-Forecast up to 2028

Dairy alternatives are food and beverage products which are being taken as an alternative for dairy. These products are extracted from plants and are esteemed to be a very health substitute to dairy. Soy milk, coconut milk and almond milk are among the most common options for dairy alternatives across the world. Dairy alternatives are considered a healthy due to the existence of a various important vitamins and minerals. They are also less on fats, cholesterol and have zero concentration of lactose. Dairy alternatives have been very famous in the developed and emerging markets. This can be ascribed to the increasing prevalence of lactose intolerance and dairy allergies among the global population led to a rising demand for dairy-free alternatives. Dairy alternatives offered a suitable solution for individuals who could not consume traditional dairy products. A part from the driving factors, the instable prices of raw materials of the diary alternatives are hampering the market growth. The Dairy Alternatives Market is expected to grow at the rate of 12.5% CAGR by 2028.

Dairy Alternatives Market by Source

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

Dairy Alternatives Market by Application

• Cheese
• Creamers
• Yogurt
• Ice Creams
• Milk
• Others

Dairy Alternatives Market by Formulation

• Plain
• Flavored

Dairy Alternatives Market by Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

As per source segmentation, the diary alternatives market is divided into almond, soy, oats, hemp, coconut, rice and others. Among them the soy sourced dairy products are most popular since, the soy has a wide variety of milk products similar to the cow and buffalo milk. Moreover, the soy milk products contain more protein, vitamins, minerals, antioxidants and has low cholesterol compared to other sources and cow and buffalo milk.

Among the all applications, the milk is the major segment to have a maximum share in the market. Prioritizing to the health consumers are more concerned about choosing the beverages. The high demand for milk extracted from non dairy ingredients such as almond, coconut, soy and other non dairy ingredients is having has increasing rapidly owing to the health concerns associated to lactose intolerance and busy lifestyles of working middle-class people.

In terms of formulation, the market is segmented into plain and flavored. The plain segment has acquired a maximum share in the dairy alternatives market. This is due to increasing demand for plain unflavored milk increasing plain milk such as almond milk, coconut milk, soy milk and rice milk which are unsweetened and owing to increasing preference for low-calorie products in the 40 age population is boosting the demand for plain milk.

The geographical regions of dairy alternatives market are North America, Europe, Asia Pacific and Rest of the World. The Asia Pacific has the major contribution in the market share due to the drastic urbanization, diversification in diet, increase in the per capita income of the population are the factors driving the market in this region.

Furthermore, the significant factors stimulating the global dairy alternatives are dominance of plant-based milk alternatives, such as almond milk, soy milk, oat milk, coconut milk, and rice milk, dominated the dairy alternatives market. Consumers increasingly chose these plant-based options as substitutes for traditional cow's milk due to health, environmental, and ethical reasons.

The White Wave Foods Company, Blue Diamond Growers, Green Spot Co., Ltd, Freedom Foods Group Limited, Earth’s Own Food Company Inc., Hain Celestial, SunOpta, Ecomil, Sanitarium, Eden Foods Inc., Triballat Noyal, Valsoia SpA, Dohler, Panos Brands, Hiland Dairy, Ripple Foods and Califia Farms are the few notable companies of dairy alternatives market.

As a result, these dairy alternative products have crucial role in the daily life since, the milk and other milk products are very essential and have the major contribution in the protein supplements. Moreover, compared to the usual dairy products these products are less in cholesterol and more beneficial.

• The report gives the overall perception of the market growth factors, and other factors which are positively and negatively impacting the market growth.
• This study explains each and every segments and sub segments of the market and their contribution in the market growth.
• Further this report gives the analysis of the forthcoming trends and preferences of the consumers of the market.
• The in depth insights is offered about the key vendors of the market in terms of their dynamic strategies, new products launched and expansion of the business.