Dairy Alternatives Market Size, Share & Trends Report

Dairy Alternatives Market Size, Share & Trends Analysis Report By Source (Soy, Almond, Coconut, Rice, Oats), By Product (Milk, Yogurt, Cheese, Ice-cream, Creamers), By Type, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Report ID: GVR-1-68038-070-5
Number of Pages: 240
Format: Electronic (PDF)

Historical Range: 2017 - 2021
Industry: Consumer Goods

Market Segmentation

Dairy Alternatives Market Source Outlook (Revenue, USD Million, 2018 - 2030)
- Soy
- Almond
- Coconut
- Rice
- Oats
- Others
Dairy Alternatives Market Source Outlook (Revenue, USD Million, 2018 - 2030)
- Milk
- Yogurt
- Ice-cream
- Cheese
- Creamers
- Others
Dairy Alternatives Market Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retail
- Others
Dairy Alternatives Market Regional Outlook (USD Million, 2018 – 2030)
- North America
  - North America Dairy Alternatives Market, by Product
    - Soy
    - Almond
    - Coconut
    - Rice
    - Oats
    - Others
  - North America Dairy Alternatives Market, by Product
    - Milk
    - Yogurt
    - Ice-cream
    - Cheese
    - Creamers
    - Others
  - North America Dairy Alternatives Market, by Distribution Channel
    - Supermarkets & Hypermarkets
    - Convenience Stores
    - Online Retail
    - Others
  - U.S.
    - U.S. Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - U.S. Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - U.S. Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - Canada
    - Canada Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Canada Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Canada Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - Mexico
    - Mexico Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Mexico Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Mexico Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
- Europe
  - Europe Dairy Alternatives Market, by Product
    - Soy
    - Almond
    - Coconut
    - Rice
    - Oats
    - Others
  - Europe Dairy Alternatives Market, by Product
    - Milk
    - Yogurt
    - Ice-cream
    - Cheese
    - Creamers
    - Others
  - Europe Dairy Alternatives Market, by Distribution Channel
    - Supermarkets & Hypermarkets
    - Convenience Stores
    - Online Retail
    - Others
  - Germany
    - Germany Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Germany Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Germany Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - UK
    - UK Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - UK Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - UK Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - Spain
    - Spain Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Spain Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Spain Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - Italy
    - Italy Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Italy Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Italy Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - France
    - France Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - France Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - France Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
- Asia Pacific
  - Asia Pacific Dairy Alternatives Market, by Product
    - Soy
    - Almond
    - Coconut
    - Rice
    - Oats
    - Others
  - Asia Pacific Dairy Alternatives Market, by Product
    - Milk
    - Yogurt
    - Ice-cream
    - Cheese
    - Creamers
    - Others
  - Asia Pacific Dairy Alternatives Market, by Distribution Channel
    - Supermarkets & Hypermarkets
    - Convenience Stores
    - Online Retail
    - Others
  - China
    - China Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - China Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - China Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - India
    - India Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - India Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - India Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - Japan
    - Japan Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Japan Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Japan Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - Australia
    - Australia Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Australia Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Australia Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - South Korea
    - South Korea Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - South Korea Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - South Korea Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
- Central & South America
  - Central & South America Dairy Alternatives Market, by Product
    - Soy
    - Almond
    - Coconut
    - Rice
    - Oats
    - Others
  - Central & South America Dairy Alternatives Market, by Product
    - Milk
    - Yogurt
    - Ice-cream
    - Cheese
    - Creamers
    - Others
  - Central & South America Dairy Alternatives Market, by Distribution Channel
    - Supermarkets & Hypermarkets
    - Convenience Stores
    - Online Retail
    - Others
  - Brazil
    - Brazil Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Brazil Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Brazil Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - Argentina
    - Argentina Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - Argentina Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - Argentina Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
- Middle East and Africa
  - Middle East and Africa Dairy Alternatives Market, by Product
    - Soy
    - Almond
    - Coconut
    - Rice
    - Oats
    - Others
  - Middle East and Africa Dairy Alternatives Market, by Product
    - Milk
    - Yogurt
    - Ice-cream
    - Cheese
    - Creamers
    - Others
  - Middle East and Africa Dairy Alternatives Market, by Distribution Channel
    - Supermarkets & Hypermarkets
    - Convenience Stores
    - Online Retail
    - Others
  - South Africa
    - South Africa Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - South Africa Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - South Africa Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others
  - United Arab Emirates (UAE)
    - United Arab Emirates (UAE) Dairy Alternatives Market, by Product
      - Soy
      - Almond
      - Coconut
      - Rice
      - Oats
      - Others
    - United Arab Emirates (UAE) Dairy Alternatives Market, by Product
      - Milk
      - Yogurt
      - Ice-cream
      - Cheese
      - Creamers
      - Others
    - United Arab Emirates (UAE) Dairy Alternatives Market, by Distribution Channel
      - Supermarkets & Hypermarkets
      - Convenience Stores
      - Online Retail
      - Others

Dairy Alternatives Market Dynamics

Driver: Growing incidences of lactose intolerance and dairy allergies

Increasing cases of lactose intolerance and milk allergies are expected to be key factors driving the dairy alternatives market growth. Consumers with lactose intolerance prefer lactose-free and plant-based alternatives to improve calcium and vitamins in their diet. Increasing consumer awareness toward a healthy diet, coupled with rising demand for food with lower cholesterol and fats, is expected to open new avenues for market players over the projected period. Lactose intolerance is a very common disorder in the world and over 60% (according to the WHO) of the global population has some level of milk allergy.

Over 30 million American adults are lactose intolerant. The pattern of primary lactose intolerance appears to have a genetic component, and specific populations show high levels of intolerance. Lactose intolerance is least common among people of northern European origin, who have a lactose intolerance prevalence of only about 2%. According to the National Institutes of Health (NIH), over 80% of the Southeast Asian population suffers from lactose intolerance, and this number is increasing with the rising population in the region. As a result, the demand for lactose-free products such as soymilk, almond milk, coconut milk, oat milk, and rice milk is expected to grow over the forecast period.

Driver: Health benefits of dairy alternative products

Dairy alternative products including soymilk, almond milk, rice milk, cashew milk, and other plant-based non-dairy items are expected to witness significant growth on account of various nutritional values associated with these products. In addition, these products can be fortified with vitamins and minerals, which further improve their nutritional value. As a result, the demand for these products, especially among people who are allergic to milk and lactose, is expected to grow in the near future.

Soy milk is a popular plant-based alternative for vegans and people who are lactose intolerant. It contains various minerals, including iron, calcium, phosphorus, zinc, sodium, potassium, and magnesium. The product is highly popular among heart patients as it reduces cholesterol levels. In addition, soy milk contains an equal number of proteins as that of cow’s milk and is lower in calories than whole and skim milk. Coconut milk is rich in minerals and vitamins and is helpful in the treatment of arthritis. It is a key source of magnesium and helps maintain blood pressure. The rising popularity of coconut creams and yogurts among millennials is expected to drive the growth of the dairy alternatives market in the coming years.

Restraint: High cost of dairy alternative products

The dairy alternatives industry is anticipated to grow at a significant rate owing to health and wellness trends among consumers. Dairy alternatives are manufactured using various nuts such as almonds, hazelnuts, and cashews. High prices of these raw materials, coupled with the cost of the manufacturing process, result in a higher cost of dairy alternatives, which is likely to hamper the market growth over the forecast period. Southeast Asia is the most lactose intolerance-prone region and has a high demand for dairy alternative products. However, low purchasing power among consumers is expected to hinder the market growth over the forecast period. Consumer preference, cheaper prices, and easy access to cow’s milk in Asian countries such as India are expected to lower the demand for dairy alternatives.

According to Dean Foods, plant-based milks such as soy, almond, and oat cost approximately USD 3 or more for 64 ounces and peanut milk could cost around USD 6 for 32 ounces, which is very high in comparison to a dairy which costs a mere USD 2.17 per 64 ounces. In addition, falling prices of cow milk, especially in developing economies, are anticipated to restrict market growth over the coming years.

What Does This Report Include?

This section will provide insights into the contents included in this dairy alternatives market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Dairy alternatives market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Dairy alternatives market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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