Global Dairy Alternatives Market Report By Source (Soy, Almond, Coconut, Rice, Oats, Hemp, Other Sources), By Formulation (Flavored, Plain), By Application (Milk, Ice Cream, Yogurt, Cheese, Creamers, Butter, Other Applications), By Distribution Channel (Retail (Supermarkets/Hypermarkets, Health Food Stores, Pharmacies, Convenience Stores, Other Retail Channels), Foodservice, Online Stores), By Nutrient (Qualitative) (Protein, Starch, Vitamins, Other Nutrients) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2023-2032

In accordance with this study, the global Dairy Alternatives market value registered in 2022 was close to USD 25.2 BN and is predicted to outstretch revenue by USD 58.5 BN in 2030 with a CAGR of 11.1%.

Dairy alternatives refer to products that are dairy-free. Dairy alternatives are cholesterol free products including soy milk, almond milk, rice milk, coconut milk, oat milk, and others. Dairy-free products are the best alternative for heart patients as they are cholesterol free and also for lactose intolerant patients. Dairy-free products are also highly nutritious as dairy products.
 
Market Dynamics
 
The increasing incidences of cardiovascular diseases, as dairy products contain cholesterol, is augmenting the market growth of dairy alternatives. Moreover, increasing cases of lactose intolerant patients, because of lactose present in dairy products, is again pushing the market growth. However, the high cost of dairy alternatives hampers market growth.
 
The report has been created by using crucial tools such as Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity. These tools also serve the detailed information of each application/product segment in the global market of Dairy Alternatives. 
 
Market Segmentation
 
The study offers a decisive view of the global Dairy Alternatives market by segmenting it terms of product, formulation, and application. The report analyzes these subsets with respect to the regional segmentation. This research study will prepare marketers for the evolving needs of their customers.
 

By Source

• Soy
• Almond
• Coconut
• Rice
• Oats
• Hemp
• Other

 

By Formulation

• Flavored
• Plain

 

By Application

• Milk
• Ice Cream
• Yogurt
• Cheese
• Creamers
• Butter
• Other

 

By Distribution Channel

• Retail (Supermarkets/Hypermarkets, Health Food Stores, Pharmacies, Convenience Stores, Other Retail Channels)
• Foodservice
• Online Stores

 
Regional Analysis
 
This section covers Dairy Alternatives market for the regions North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Regional segmentation has been done based on the present and future trends in the global Dairy Alternatives market along with the individual application segment across all the prominent region.
 
Global Dairy Alternatives Market Share by Region (Representative Graph)



This research report also includes profiles of major companies operating in the global market. Some of the prominent players operating in the global Dairy Alternatives market are Danone North America Public Benefit Corporation (US), The Hain Celestial Group Inc. (US), Blue Diamond Growers (US), Freedom Foods Group Limited (Australia), Valsola S.p.A (Italy), SunOpta (Canada), Qatly Group AB (Sweden), Sanitarium (New Zealand), Eden Foods Inc. (US), Triballat Noyal (France), Earth's Own Food Company Inc. (Canada), Elmhurst Milked Direct LLC (New York), Nutriops S.L. (Spain), Green Spot Co. Ltd. (Thailand), Hiland Dairy (US), Ripple Foods (US), Kite Hill (US), Califia Farms LLC (US). This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.