Global Dairy Alternative Beverages Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Dairy Alternative Beverages Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Dairy Alternative Beverages is plant-based milk processed by nuts, grains and seeds. Vegans, dairy intolerant and people with milk allergies mainly consume Dairy Alternative Beverages. Dairy Alternative Beverages are plant beverages, and therefore contain low cholesterol levels. The types of Dairy Alternative Beverages are almond, soy, oat, walnut, coconut, etc. These Dairy Alternative Beverages products are widely sold through hypermarkets and supermarkets, independent retailers, convenience stores, etc.

Market Overview:

The latest research study on the global Dairy Alternative Beverages market finds that the global Dairy Alternative Beverages market reached a value of USD 19485.19 million in 2022. It’s expected that the market will achieve USD 33149.74 million by 2028, exhibiting a CAGR of 9.26% during the forecast period.

Market Drivers

The increase of disposable income in the United States, China and Britain will have a positive impact on the Dairy Alternative Beverages market. According to the market data released by the National Bureau of Statistics of China in January 2020, China's per capita disposable income reached US$ 4,462. The bureau reported that the disposable income increased by 5.8% compared with the same period last year. Positive economic prospects and increasing consumer spending power will help the demand for Dairy Alternative Beverages.
Awareness of lactose intolerance and allergy to dairy products has promoted interest in the Dairy Alternative Beverages market. In South America, Africa, many people are allergic to lactose intolerance and dairy products. Consumers' awareness of the benefits of vegetarianism is another factor driving the demand for substitutes for plant dairy products all over the world. The vegetarian population has increased dramatically in several economies. These consumers prefer dairy alternative, such as soybeans, almonds and other plant-based dairy alternative, as milk alternative. Changes in consumer preferences will drive the demand for Dairy Alternative Beverages, thus driving the development of Dairy Alternative Beverages industry.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Danone, Yangyuan ZhiHui Beverage Co Ltd, Vitasoy International Holdings Limited, Blue Diamond Growers Inc and Coconut Palm are the five key players in the global Dairy Alternative Beverages market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Dairy Alternative Beverages market in the past 5 years.

Danone is a leading multi-local food and beverage company building on health-focused and fast-growing categories in 3 businesses: Essential Dairy & Plant-Based products, Waters and Specialized Nutrition.

Yangyuan ZhiHui Beverage Co Ltd was founded in 1997, focusing on the research, development, production and sales of walnut milk, a vegetable protein beverage.

Segmentation Overview:

Among different product types, Soy segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Hypermarkets and Supermarkets segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Dairy Alternative Beverages market covered in Chapter 3:

Danone
Sanitarium Health & Wellbeing Company
Nutriops S.L
Pacific Foods
Yangyuan ZhiHui Beverage Co Ltd
Pureharvest
Vitasoy International Holdings Limited
Eden Foods Inc.
Blue Diamond Growers Inc
Panos Brands LLC
Coconut Palm
Freedom Foods Group Ltd.
Earth's Own Food Company
OATLY AB

In Chapter 4 and Chapter 14.2, on the basis of types, the Dairy Alternative Beverages market from 2018 to 2029 is primarily split into:

Almond
Soy
Oat
Walnut
Coconut
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Dairy Alternative Beverages market from 2018 to 2029 covers:

Hypermarkets and Supermarkets
Independent Retailers
Convenience Stores
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)