Dairy Alternatives Market by Product (Butter, Cheese, Milk), Source (Almond, Coconut, Oat), Distribution Channel, End-Use - Global Forecast 2024-2030
Description
Dairy Alternatives Market by Product (Butter, Cheese, Milk), Source (Almond, Coconut, Oat), Distribution Channel, End-Use - Global Forecast 2024-2030
The Dairy Alternatives Market size was estimated at USD 27.66 billion in 2023 and expected to reach USD 29.51 billion in 2024, at a CAGR 6.41% to reach USD 42.76 billion by 2030.
The dairy alternatives market encompasses a wide range of non-dairy products that are derived from plant-based sources and serve as substitutes for conventional dairy-based items. These products include milk, cheese, yogurt, ice cream, and other related food items made from sources such as soy, almond, coconut, oats, rice, and hemp. The primary focus is on offering consumers nutritional benefits similar to traditional dairy products while eliminating lactose and accommodating various dietary preferences such as veganism or specific allergies or intolerances. Dairy alternatives are used across multiple industries, including food & beverage manufacturing (confectionery, bakery), food service (restaurants, cafes), and retail sectors (supermarkets & grocery stores). Increasing preference for plant-based diets due to health reasons and sustainability issues associated with conventional farming practices have driven the demand for dairy-free alternatives. However, higher prices compared to conventional dairy products and cases of product recalls pose hurdles to the adoption of dairy-free alternatives. Additionally, concerns regarding nutritional adequacy and stringent regulations pertaining to the nutritional content of dairy-free products adversely affect the growth of the industry. Major companies are developing products with enhanced nutritional profiles to tackle these concerns. These products can compete with traditional dairy products in taste and health benefits. Furthermore, expanding distribution channels through online platforms has expanded the accessibility of dairy-based alternatives.
Regional Insights
The consumption of dairy-free products in the Americas has been steadily increasing owing to several crucial factors, including consumer demand for dairy alternatives and a reshaped food industry landscape. An increased focus on health and ethical considerations related to animal welfare has driven the rising consumption of dairy-free food products. Additionally, the Americas is characterized by an expanding range of innovative dairy-free product offerings. In Europe, a strong focus on sustainability and ethical consumerism has led to increased demand for dairy alternatives. There is a growing inclination toward veganism and vegetarianism in Europe driven by ethical reasons concerning animal welfare. Furthermore, countries such as Sweden and Norway have introduced dietary guidelines that support reduced animal product consumption. China, Japan, and India represent significant markets for dairy alternatives within the Asia-Pacific region due to their large populations and shifting consumer preferences toward healthier lifestyles. Japanese consumers are increasingly opting for non-dairy milk due to health concerns related to milk allergy cases. In India, the dairy alternatives market is driven by a large vegetarian population and growing consumer awareness regarding lactose intolerance.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Dairy Alternatives Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Growing consumer preference for a vegan diet and adoption of dairy alternatives by food service outlets
- Increasing number of lactose-intolerance and dairy-allergic consumers
- Market Restraints
- High cost associated with production of dairy alternatives
- Market Opportunities
- Introduction of new flavor & variety of dairy alternatives
- Rising availability in online platforms and changing labelling regulations
- Market Challenges
- Product recalls due to contamination coupled with problems of added sugar in dairy alternatives
- Market Segmentation Analysis
- Product: Increasing demand for plant-based milk among health conscious consumers
- Source: Popularity of various plant-based sources used in dairy alternatives and dairy-free food items
- Distribution channel: Ease of availability of various dairy-free products through online distribution channels
- End-Use: Increasing consumption of plant based beverages, as sustainable options
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Dairy Alternatives Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Dairy Alternatives Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Oddlygood acquires Planti Takes the lead in two dairy alternative categories in Sweden and Finland
Oddlygood, a Finnish producer of plant-based products, acquired the Nordic brand Planti, solidifying its position in dairy alternative spoonable snacks in Sweden and dairy alternative cooking products in Finland. This strategic acquisition marks a significant milestone in Oddlygood's growth journey.
Kerry Group Partners with Unigrain on Dairy Alternatives
Kerry Group and Unigrain partnered to offer food and beverage brands exclusive access to a unique combination of plant-based ingredients, research and development (R&D), and processing solutions. This collaboration aims to create a thriving ecosystem for dairy alternatives, with other partners also invited to join. Kerry supports technology development, applications, enzymes, flavors, maskers, and nutrition.
Eden Brew Alternative Milk Startup Attracts USD 25 million In Investments To Bring Synthetic Dairy To Market
Eden Brew secured USD 25 million in funding from notable investors, including Bernard Fanning and Angus Stone. Eden Brew introduced a significant approach to bringing animal-free milk to supermarkets. They utilize lab-cultured proteins that mimic those found in dairy milk.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Dairy Alternatives Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Dairy Alternatives Market, highlighting leading vendors and their innovative profiles. These include Adisoy Foods & Beverages Pvt. Ltd., Archer Daniels Midland Company, Armored Fresh, Axiom Foods, Inc., Califia Farms, LLC, Cargill, Incorporated, Dancing Cow Foods Private Limited, Danone S.A., Drupe Foods India Pvt Ltd., DUG by Veg of Lund, Earth’s Own Food Company Inc. by Agrifoods International Cooperative Ltd., Eden Foods, Inc., Good Karma Foods, Inc., GT’s Living Foods LLC, Kerry Group PLC, Lipoid Kosmetik AG, Maeil Dairies Co., Ltd., Milkadamia, Nestlé S.A., Oddlygood Global Oy by Valio Ltd., Pacific Foods by Campbell Soup Company, Planet Oat by HP Hood LLC, Plant Veda Foods Ltd., Purefoods by Rollins International Pvt. Ltd., Ripple Foods PBC., Sain Milks, Sanitarium Health Food Company, SunOpta, Inc., The Hain Celestial Group, Inc., TheNotCompany Inc., and Upfield B.V..
Market Segmentation & Coverage
This research report categorizes the Dairy Alternatives Market to forecast the revenues and analyze trends in each of the following sub-markets:- Product
- Butter
- Cheese
- Milk
- Yogurt
- Source
- Almond
- Coconut
- Oat
- Rice
- Soy
- Distribution Channel
- Offline
- Convenience Stores
- Health Food Stores
- Pharmacies
- Supermarkets & Hypermarkets
- Online
- End-Use
- Beverages
- Dietary Supplements
- Food
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Offline
- Market Drivers
Table of Contents
181 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Growing consumer preference for a vegan diet and adoption of dairy alternatives by food service outlets
- 5.1.1.2. Increasing number of lactose-intolerance and dairy-allergic consumers
- 5.1.2. Restraints
- 5.1.2.1. High cost associated with production of dairy alternatives
- 5.1.3. Opportunities
- 5.1.3.1. Introduction of new flavor & variety of dairy alternatives
- 5.1.3.2. Rising availability in online platforms and changing labelling regulations
- 5.1.4. Challenges
- 5.1.4.1. Product recalls due to contamination coupled with problems of added sugar in dairy alternatives
- 5.2. Market Segmentation Analysis
- 5.2.1. Product: Increasing demand for plant-based milk among health conscious consumers
- 5.2.2. Source: Popularity of various plant-based sources used in dairy alternatives and dairy-free food items
- 5.2.3. Distribution channel: Ease of availability of various dairy-free products through online distribution channels
- 5.2.4. End-Use: Increasing consumption of plant based beverages, as sustainable options
- 5.3. Market Trend Analysis
- 5.3.1. Increasing preference of vegan diets and animal welfare programs in the Americas
- 5.3.2. Ongoing advancement using unique sources to produce dairy alternatives in the APAC region
- 5.3.3. Robust demand coupled with government support driving production of dairy alternatives in the EMEA
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Dairy Alternatives Market, by Product
- 6.1. Introduction
- 6.2. Butter
- 6.3. Cheese
- 6.4. Milk
- 6.5. Yogurt
- 7. Dairy Alternatives Market, by Source
- 7.1. Introduction
- 7.2. Almond
- 7.3. Coconut
- 7.4. Oat
- 7.5. Rice
- 7.6. Soy
- 8. Dairy Alternatives Market, by Distribution Channel
- 8.1. Introduction
- 8.2. Offline
- 8.3. Online
- 9. Dairy Alternatives Market, by End-Use
- 9.1. Introduction
- 9.2. Beverages
- 9.3. Dietary Supplements
- 9.4. Food
- 10. Americas Dairy Alternatives Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Dairy Alternatives Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Dairy Alternatives Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Oddlygood acquires Planti Takes the lead in two dairy alternative categories in Sweden and Finland
- 13.3.2. Kerry Group Partners with Unigrain on Dairy Alternatives
- 13.3.3. Eden Brew Alternative Milk Startup Attracts USD 25 million In Investments To Bring Synthetic Dairy To Market
- 13.3.4. Ripple Foods Launches Plant-Based Milk With no Added Sugars
- 13.3.5. Veg of Lund signs letter of intent to sell its DUG potato based dairy alternatives in China
- 13.3.6. South Korea's Armored Fresh Finding Flavour in the U.S. Plant-based Market
- 13.3.7. Plant Veda Finishes Acquisition of Nora's Non-Dairy LTD
- 13.3.8. Changes continue in Danone’s dairy, plant-based business
- 13.3.9. SunOpta Opens New USD 125 Million Plant-Based Beverage Manufacturing Facility in Texas
- 13.3.10. Soul Origin Partners With Australian-Owned the Alternative Dairy Co
- 13.3.11. Califia Farms introduces two new dairy alternatives
- 13.3.12. ADM and New Culture Announce Strategic Partnership to Scale up Alternative Dairy Products
- 13.3.13. Abbot Kinney’s launches organic plant-based drinks in UK
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Pricing
Currency Rates
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