The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Increasing cases of lactose intolerance and milk allergies are expected to drive innovation in dairy alternatives manufacturing, thus driving the market during the forecast period.

The global dairy alternatives market is expected to grow from $24.09 billion in 2022 to $27.6 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The global dairy alternatives market size is expected to grow from $45.16 billion in 2027 at a CAGR of 13.1%.

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Global Dairy Alternatives Market Segments Include:

• By Product Type: Non-dairy Milk, Butter, Cheese, Yogurts, Ice cream, Other Product Types
• By Source: Almond, Soy, Oats, Hemp, Coconut, Rice, Other Sources
• By Distribution Channel: Supermarkets, Health Food stores, Pharmacies, Convenience Stores, Online stores, Other Distribution Channels
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global dairy alternatives market in 2021.

Major Market Players in the dairy alternatives market include Tate & Lyle, CP Kelco Inc., SunOpta Inc., The Whitewaves Food Company, Organic Valley, The Hain Celestial Group, Blue Diamond Growers.

New product innovation is the trend in the dairy alternative market. In June 2022, Nestlé S.A, a Swtizerland-based multinational food, and drink processing conglomerate corporation, announced the launch of Little Steps Plantygrow, a plant-based growing-up drink for toddlers from one to three years of age. According to Nestlé S.A, it contains iron, vitamins A, C, B2, B12, and iodine, no additional carbohydrate, and enhanced with omega3 and 6 for the overall development of toddlers.

The Dairy Alternatives Global Market Report 2023 provides a dairy alternatives market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The dairy alternatives market forecast analyzes dairy alternatives market size, dairy alternatives market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Dairy alternatives are foods that are used as substitutes for dairy products. These products are extracted from plants including cereals (rice, oats), legumes (soy), seeds (hemp, flax), nuts (peanuts, almond), and other grains (teff, quinoa).

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