Authored By: Sarah
11 Jul 2024

 Dairy Alternative Plant Milk Beverages Market Size to grow by USD 12750.6 million between 2024-2028

According to a research report “ Dairy Alternative Plant Milk Beverages Market” by Distribution Channel (Offline, Online) Source (Almond milk, Soy milk, Rice milk, Coconut milk, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 12750.6 million, at a CAGR of  8.8% during the forecast period. The plant-based milk beverage market has experienced significant growth due to increasing consumer preference for alternative milk options. This trend is driven by several factors, including dietary requirements such as lactose intolerance and dairy allergies, as well as ethical and environmental concerns. Plant-based milk is a suitable substitute for individuals who cannot consume dairy, and it offers numerous health benefits, including lower saturated fat and cholesterol content. Furthermore, the environmental impact of animal agriculture, including greenhouse gas emissions, land use, and water usage, has led many consumers to opt for plant-based milk as a more sustainable choice. Thus, the demand for plant-based milk beverages is expected to continue growing in the coming years.

Browse market data tables, figures, and in-depth TOC on “Dairy Alternative Plant Milk Beverages Market” by Distribution Channel (Offline, Online) Source (Almond milk, Soy milk, Rice milk, Coconut milk, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Distribution Channel, the Offline segment is projected to dominate the market size in 2024

In the dynamic dairy alternative market, almond milk has emerged as a prominent player due to its increasing popularity among health-conscious consumers and those with dietary restrictions. This plant-based beverage caters to lactose intolerant individuals, dairy allergic consumers, and vegans or those following plant-based diets. Almond milk offers a desirable creamy texture, enabling it to function as a suitable substitute for animal milk in various culinary applications. With lower caloric and fat content compared to traditional milk, it aligns with the nutritional preferences of many consumers. Furthermore, fortified with essential nutrients like calcium, vitamin D, and vitamin E, almond milk is an alluring choice for health-conscious consumers. The burgeoning demand for almond milk is evident in its widespread availability across supermarkets, coffee shops, and foodservice establishments, thereby fueling the expansion of the almond milk segment and driving the overall growth of the global dairy alternative plant milk beverages market during the forecast period.

By Source, Almond milk  segment is expected to hold the largest market size for the year 2024

The offline distribution channel, comprising of hypermarkets, supermarkets, convenience stores, and discount stores, dominated the global dairy alternative plant milk beverages market in 2023. Consumers prefer this segment due to the ability to physically assess product quality and specifications before purchase. Offline retailers offer a vast array of plant-based milk beverages at discounted prices, making them a popular choice among consumers. Market players are expanding their product reach by partnering with retailers to display innovative offerings. The supermarket/hypermarket segment, with its extensive product variety and competitive pricing, is the preferred retail segment for consumers in the dairy alternative plant milk beverages market.

APAC is forecasted to hold the largest market size by region in 2024

The Dairy Alternative Plant Milk Beverages market represents a significant growth opportunity for businesses in the food and beverage industry. Consumers are increasingly seeking plant-based alternatives to traditional dairy products due to dietary preferences, ethical concerns, and health benefits. Key players in this market include soy, almond, oat, rice, and coconut milk beverage producers. Market expansion is driven by rising demand for lactose-free and vegan options, as well as advancements in production technology. Companies must focus on product innovation, sustainability, and competitive pricing to capture market share.

The Dairy Alternative Plant Milk Beverages Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Adisoy Foods and Beverages Pvt. Ltd.
  • ALT. MILK
  • Arla Foods amba
  • Califia Farms LLC
  • Campbell Soup Co.
  • Celebes Coconut Corp.
  • Dairy Farmers of America Inc.
  • DANA Dairy Group Ltd.
  • Danone SA
  • Drupe Foods India Pvt. Ltd.
  • Eden Foods Inc.
  • Goodmylk
  • LEMONCONCENTRATE SLU
  • MALK Organics
  • Midas Soy Nutritions
  • Nestle SA
  • SAP Agrotech Pvt. Ltd.
  • Soyfoods USA
  • SunOpta Inc.
  • The Hershey Co.
.

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Research Analysis Overview

The Dairy Alternative Plant Milk Beverages market has witnessed significant growth in recent years due to various factors such as food sensitivities, allergies, personal health, environmental issues, and animal welfare concerns. Soy-based beverages, including soy milk and soy-based cheese, are popular alternatives for individuals with lactose intolerance or dairy allergies. However, some people may be sensitive to soy proteins, leading to immune responses such as anaphylaxis, hives, or other allergic reactions. Soy lecithin and soybean oil, common ingredients in these beverages, may also cause allergic reactions. Nuts, particularly almonds, are another common base for plant milk beverages. Food allergies to nuts are also a concern for some consumers. While these beverages offer health benefits, such as being cholesterol-free and suitable for vegan diets, they may have environmental impacts due to high water usage and greenhouse gas emissions. Proactive measures, such as choosing locally sourced or organic ingredients, can help mitigate these concerns. Flexitarian and vegetarian diets, which include dairy alternatives, are gaining popularity for personal health and ethical reasons. Overall, the market for dairy alternative plant milk beverages is expected to continue growing as consumers seek out healthier and more sustainable options.

Market Research Overview

Title: Dairy Alternative Plant Milk Beverages: Trending Beverage Options for Health-Conscious Consumers The Dairy Alternative Plant Milk Beverages market is witnessing significant growth due to increasing health consciousness, lactose intolerances, and milk allergies. Online stores and convenience stores are stocking up on these beverages, catering to the busy lifestyles and health concerns of consumers. Unflavored plain dairy alternatives, such as coconut milk, cashew milk, and hemp milk, are popular choices for those following a vegan diet or seeking low-calorie options. These plant-based milks offer numerous health benefits, including strong bones, a healthy heart, and healthy skin. They are rich in essential minerals like manganese, vitamin E, copper, zinc, phosphorous, and magnesium. Coconut milk desserts, cashew milk desserts, and hemp milk desserts are gaining popularity among consumers for their delicious taste and nutritional value. Regular cheese and sour creams have plant-based alternatives made from these milks, ensuring that consumers do not miss out on their favorite dairy products. Flavored beverages, such as those fortified with vitamin B12 and D, are popular among breast cancer survivors, the elderly, and those following a ketogenic diet. These beverages offer additional health benefits, including aiding in weight loss, treating arthritis, and boosting the immune system. Ethical practices, such as organic farming and sustainable production, are essential considerations for health-savvy consumers. Plant-based milks are cholesterol-free, lactose-free, and rich in vitamins, carbohydrates, lipids, amino acids, phytosterols, and phytochemicals. They are also environmentally friendly, with lower greenhouse gas emissions compared to dairy farming. In conclusion, the Dairy Alternative Plant Milk Beverages market offers a wide range of convenient, nutritious, and ethical options for consumers seeking to maintain their personal health while addressing environmental and animal welfare concerns.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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