Enjoy complimentary customisation on priority with our Enterprise License!
The dairy alternatives market size is valued to increase USD 23.01 billion, at a CAGR of 12% from 2023 to 2028. Growth of organized retail sector will drive the dairy alternatives market.
Get Key Insights on Market Forecast (PDF) Request Free Sample
The dairy alternatives industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The supermarkets and hypermarkets segment is estimated to witness significant growth during the forecast period.
In the dynamic and evolving the market, nutritional fortification plays a pivotal role in catering to consumers' growing demand for healthier options. Pea protein concentrate, derived through microbial fermentation, is a popular choice due to its high protein content and affordability, making it a cost-effective alternative to traditional dairy proteins. Casein substitutes, produced via enzymatic hydrolysis, offer similar functionalities to dairy casein, ensuring texture modification and stability in various food applications. Microbial fermentation, an essential process in the production of plant-based proteins, is increasingly being adopted to improve protein denaturation and solubility. Whey protein alternatives, such as soy protein isolate, are gaining popularity due to their high protein content and amino acid profile, making them suitable for various food applications.
Shelf-life extension and supply chain management are critical considerations in the market, with stabilizer systems and emulsifier blends playing essential roles in maintaining product quality. Consumer acceptance is a significant factor influencing market trends, with sensory evaluation and food safety standards being crucial determinants. Lipid oxidation, a common challenge in plant-based milk production, is being addressed through process optimization and packaging innovations. Dairy-free yogurt cultures and gelling agents are being developed to mimic the texture and mouthfeel of traditional dairy products. The market for dairy alternatives is projected to grow significantly, with a rise in demand for plant-based protein sources and a shift towards healthier food options.
According to recent studies, the market for dairy alternatives is expected to reach 27% of the total dairy market by 2025. Furthermore, the demand for oat milk is projected to grow by 30% in the next five years, driven by its creamy texture and nutritional benefits. Ingredient sourcing and fat emulsion stability are critical factors influencing the market's growth trajectory. Process optimization and the use of natural ingredients are becoming increasingly important to cater to consumer preferences for clean-label products. The market is also witnessing significant investments in research and development to improve product quality and functionality, with a focus on improving rheological properties and addressing microbial spoilage.
In conclusion, the market is experiencing significant growth, driven by consumer preferences for healthier, plant-based protein sources and a shift towards clean-label products. Nutritional fortification, cost reduction strategies, and process optimization are key trends shaping the market, with a focus on improving texture modification, flavor enhancement, and shelf-life extension. The market is expected to continue evolving, with ongoing research and development efforts aimed at addressing challenges such as lipid oxidation and microbial spoilage.
The Supermarkets and hypermarkets segment was valued at USD 6.79 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 37% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
See How Dairy Alternatives Market Demand is Rising in APAC Request Free Sample
In the Asia Pacific region, major countries like China, Australia, New Zealand, South Korea, Japan, Indonesia, and the Philippines are significant contributors to the market. Among these, soy milk cashew milk,holds the largest market share, with its popularity extending to China, Japan, and Indonesia. Additionally, yogurt, cheese, and almond milk are witnessing increasing demand in APAC. The primary growth factors for the market in this region are the expanding disposable income of developing economies and the proliferation of organized retailing channels, including hypermarkets, supermarkets, convenience stores, and food specialist stores. Tate and Lyle PLC and Vitasoy International Holdings Ltd. Are prominent players in this sector.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing robust growth, driven by consumer preferences for plant-based options and the functional advantages of alternative proteins. Soy protein isolate and pea protein concentrate are leading the charge, with soy protein isolate's functionality in texture modification and pea protein concentrate's applications in various food and beverage categories. In the realm of dairy alternatives, innovation is the key to success. Oat milk production optimization and almond milk processing efficiency are critical areas of focus, with companies striving to enhance production processes and reduce costs. Dairy-free yogurt starter cultures and microbial fermentation process parameters are essential to creating authentic, consumer-preferred textures and flavors.
Enzymatic hydrolysis of proteins plays a significant role in improving protein solubility and enhancing fat emulsion stability. Flavor enhancement strategies and nutritional fortification methods are also crucial, as consumers demand taste and nutrition parity with traditional dairy products. Shelf-life extension technologies are a priority, as are methods for optimizing emulsifier blends and selecting gelling agents to ensure desired rheological properties. Stabilizer system design and sensory evaluation protocols are essential for ensuring product quality and consumer satisfaction. Understanding the mechanisms of protein denaturation and rheological property measurements is vital for developing successful dairy alternative products. Notably, industrial applications account for a significantly larger share of the market compared to academic research.
This trend underscores the commercial viability and growing importance of plant-based dairy alternatives in the global food industry.
The dairy alternatives market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the dairy alternatives market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Dairy Alternatives Industry
Companies are implementing various strategies, such as strategic alliances, dairy alternatives market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Alpro - This company specializes in producing dairy alternatives, encompassing ice cream and frozen desserts, butter substitutes, and plant-based protein options, catering to consumers seeking non-dairy choices.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Dairy Alternatives Market insights. See full methodology.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
173 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 12% |
|
Market growth 2024-2028 |
USD 23006.2 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
10.4 |
|
Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Dairy Alternatives Market between 2024 and 2028?
USD 23.01 billion, at a CAGR of 12%
What segmentation does the market report cover?
The report is segmented by Distribution Channel (Supermarkets and hypermarkets, Convenience stores, Online retail, and Others), Product (Beverages-based dairy alternatives and Food-based dairy alternatives), Geography (APAC, North America, Europe, South America, and Middle East and Africa), Source (Soy, Almond, Oat, and Coconut), and Formulation Type (Plain and Flavored)
Which regions are analyzed in the report?
APAC, North America, Europe, South America, and Middle East and Africa
What are the key growth drivers and market challenges?
Growth of organized retail sector, Distribution challenges in packaged food and beverages sector
Who are the major players in the Dairy Alternatives Market?
Alpro, Archer Daniels Midland Co., Blue Diamond Growers, Califia Farms LLC, Campbell Soup Co., Chobani LLC, Daiya Foods Inc., Danone SA, Döhler GmbH, Earth's Own Food Co. Inc., Eden Foods Inc., GreenSpace Brands Inc., J M Huber Corp., MALK Organics, Mariani Nut Co., Oatly Group AB, Otsuka Holdings Co. Ltd., PANOS Brands LLC, PepsiCo Inc., SunOpta Inc., Tate and Lyle PLC, and Vitasoy International Holdings Ltd.
We can help! Our analysts can customize this dairy alternatives market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Market Segmentation by Source
9 Market Segmentation by Formulation Type
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
