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 Report Pages: 240
  • Format: PDF, Horizon Databook
  • Historical Range: 2017 - 2021
  • Forecast Period: 2023 - 2030
  • Industry: Consumer Goods

Research Methodology

A three-pronged approach was followed for deducing the dairy alternatives market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for dairy alternatives market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of dairy alternatives market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Dairy Alternatives Market Categorization:

The dairy alternatives market was categorized into four segments, namely source (Soy, Almond, Coconut, Rice, Oats), product (Milk, Yogurt, Cheese, Ice-cream, Creamers), distribution channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The dairy alternatives market was segmented into source, product, distribution channel, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The dairy alternatives market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fourteen countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; France; Italy; Spain; China; Japan; India; Australia; Brazil; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Dairy alternatives market companies & financials:

The dairy alternatives market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Chobani LLC is a dairy food processing company headquartered in Norwich, U.S. The company specializes in the production of Greek yogurt and related products. The company offers a wide range of food and beverage products like Greek Yogurt, oat milk, coffee creamers, ready-to-drink cold brew coffee, and plant-based probiotic products. It distributes its products across North America, Australia, and a few other selected markets.

  • Danone acquired The WhiteWave Foods Company in 2017, which was originally established in 1977. Danone North America is a company in the consumer-packaged food and beverage industry. Following the merger of Danone and White Wave Foods in April 2017, the company operated as DanoneWave for a year. To align with this merger, the company changed its name to Danone North America. It engages in the manufacturing, marketing, distribution, and sale of various products. Its offerings include branded premium dairy products such as yogurt, coffee creamers, as well as plant-based foods and beverages, and organic produce made from soy, almonds, coconuts, rice, and oats.

  • Daiya Foods Inc. is a Canadian-based company specializing in dairy alternatives. The company offers a dairy-free vegan cheese alternative that replicates the taste, shredding ability, melting characteristics, and stretchiness of traditional cheese. It is devoid of common allergens such as dairy, gluten, soy, egg, tree nuts, and peanuts, making it inclusive for a range of dietary needs. Daiya's portfolio offerings encompasses shreds, blocks, slices, cream cheese, cheesecake, yogurt, cheezy mac, pizza, and dressings. Moreover, these products have found a place on restaurant menus and in packaged foods crafted by renowned brands such as Turtle Island Foods and Amy's Kitchen. In the U.S., Daiya's product line is available in excess of 25,000 grocery stores, including major chains and natural food retailers. Expanding its reach, Daiya's offerings have also gained an international presence in countries like Australia, Mexico, Sweden, and Hong Kong.

  • Eden Foods, also known as Eden Organic, is an organic food company, headquartered in Michigan, U.S. The company is renowned for its organic products and is particularly recognized for its Edensoy organic soy milk, as well as its assortment of organic Japanese condiments and foods. A distinctive feature of Eden Foods is that the majority of its products are certified kosher and organic. Most of its products are also vegan, with the exception of its katsuo, which contains Japanese fish flakes. For individuals with dietary restrictions, Eden Foods offers many gluten-free options, making prepared foods suitable for those following a gluten-free diet. Eden Foods maintains two warehouses, located in Clinton, Michigan and Fremont, California, which serve as distribution centers for their products.

  • Nutriops is a company that specializes in manufacturing and distributing organic plant-based beverages such as almond and coconut milk, as well as vegetable creams. The company operates under the brand name Ecomil. Its product range includes lactose-free, dairy-free, sugar-free, and gluten-free options. This diverse selection comprises almond milk, hemp drinks, creams, coconut milk, and related products that can be easily mixed with hot or cold water for quick preparation, allowing customers to enjoy flavorful and nutritious beverages conveniently and affordably. The company distributes its products to more than 50 countries globally.

  • Earth’s Own Food Company was founded in 1995 and is headquartered in Vancouver, Canada. It manufactures and sells nutritional food & beverage products. The company focuses on making 100% plant-based products and produces oat milk, almond milk, coffee, and plant-based food, selling them through various health and grocery stores. It uses Canadian farmed and organic ingredients, which are grown without using pesticides, and incorporate non-GMO and sustainable practices. It also uses plant-based cartons sourced from sustainable forests.

  • SunOpta is a worldwide corporation with a strong emphasis on organic, non-genetically modified, and distinct food items. With its headquarters in Minnesota, U.S., the company specializes in acquiring, processing, and presenting organic and non-GMO foodstuffs. The core of the company's activities in natural and organic foods involves providing value-added products centered on fiber, grains, and fruits. These offerings are supported by a robust global infrastructure. The company’s diverse portfolio utilizes non-GMO and organic raw materials and ingredients sourced by vertically integrated global ingredients capabilities and consists of three main commercial platforms, namely healthy fruits, healthy beverages, and healthy snacks. The healthy beverages are a full line of aseptic beverages, including non-dairy, nutritional & dairy beverages, and broths & teas. The company exports its products to Australia, Oceania, North America, Northeast & Southeast Asia, and Western Europe.

  • Oatly Inc., based in Sweden, is a manufacturer of oat drinks. The company offers liquid oat foods and various organic products. These products are used in various recipes, including breakfast and starters, main courses, desserts, baking products, drinks, and sauces & dressings. The OATLY brand is available in more than 20 countries throughout Europe and Asia. It offers its products through health stores in Belgium, the Czech Republic, Canada, Croatia, Denmark, France, Finland, Germany, Hong Kong, Iceland, Italy, Lithuania, Norway, the Netherlands, Singapore, Switzerland, Spain, the U.K., Sweden, and Taiwan, among others.

  • Blue Diamond Growers is a Californian agricultural cooperative and market enterprise specializing in almonds. It offers roasted almonds under the "Blue Diamond" label and almond milk under the "Almond Breeze" label. Blue Diamond Growers is a global leader in almond marketing and processing as a grower-owned cooperative, representing more than 3,000 almond growers in California. It has played a pivotal role in developing markets for California almonds and expanding the almond market globally.

  • Vitasoy International Holdings Limited is a maker of consumer soy food products, including Soymilk and tofu. The company also manufactures fruit juice, teas, distilled water, carbonated drinks, pasta, and mayonnaise. Its products are available under two major brands, including VITASOY, a high-protein Soymilk drink that the company first produced, and VITA, a range of tea, juice, water, and milk beverages. Vitasoy beverages are packed in PET bottles, glass bottles, aluminum cans, and Tetra Pak boxes. The company has operations in Hong Kong, Australia, China, and Singapore. It is one of the largest manufacturers and sellers of non-carbonated beverages and food in Hong Kong. Vitasoy products are sold in over 30 markets around the world, including North America, Europe, Asia Pacific, and Latin America.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Dairy Alternatives Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Dairy Alternatives Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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