Latest News: Dairy Alternatives Market 2024-2028 - APAC Leads Market Growth and Trends in the Industry

Dairy Alternatives Market to grow at a CAGR of 12% during 2024-2028

The Dairy Alternatives Market is expected to grow at a CAGR of 12% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 23 billion. A key factor driving market growth is product premiumization, with food and beverage manufacturers focusing on niche dairy alternatives to boost profit margins. This trend is fueled by consumer demand for health-conscious options, leading companies to launch higher-priced products. Consequently, these factors are anticipated to positively impact the market during the forecast period.

Get more information on Dairy Alternatives Market by requesting a sample report

The Supermarkets and hypermarkets subsegment is expected to dominate the Distribution Channel segment during the forecast period 

Technavio analysts predict that the Supermarkets and hypermarkets subsegment will lead the Distribution Channel segment during 2024 and 2028 In today's market landscape, supermarkets and hypermarkets have emerged as preferred shopping destinations for consumers seeking a wide array of dairy alternatives. By directly sourcing products from producers, these retailers secure competitive pricing, enabling them to offer discounts and attractive deals to buyers. The extensive selection of options, including oat milk, rice milk, coconut milk, and almond milk, caters to diverse consumer preferences. Additionally, supermarkets provide a convenient shopping experience with ample parking facilities, extended hours, and multiple payment methods, making them a one-stop solution for consumers' dairy alternative needs.

Here are the various ways based on which the market is segmented: 

• Distribution Channel
  • Supermarkets and hypermarkets
  • Convenience stores
  • Online retail
  • Others
• Product
  • Beverages-based dairy alternatives
  • Food-based dairy alternatives
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

Reasons to Purchase the Global Dairy Alternatives Market Market Research Report by Technavio. What is in it for you?

• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
• Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
• High ROI with Extensive Hands-on Research: Technavio is renowned for offering personalized market research reports as per unique business needs, delving deep into specific markets, product segments and demographics. Additionally, it is also well-known for providing high return on investments through its wide collection of data at pocket-friendly rates

There are several factors that are causing the market to flourish growth of organized retail sector

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Dairy Alternatives Market is experiencing significant growth due to the increasing number of health-conscious consumers, particularly among the youth following diet trends like Ketogenic diet and Flexitarian Diets. With growing concerns about breast cancer risk and heart disease linked to dairy consumption, consumers are turning to plant-based milk substitutes. These alternatives, such as soy milk, almond milk, and oat milk, are rich in isoflavones and phytoestrogens, which have been shown to reduce breast cancer risk. Moreover, the vegan population and those with milk allergies or lactose intolerance are driving demand for non-dairy products. However, consumer eating patterns also consider factors like animal welfare and sustainability. Thermal treatments and homogenization processes used in some dairy alternatives may raise concerns regarding nutritional value and allergen cross-contamination. As a result, companies are focusing on producing vegan milk and plant-based milk substitutes using natural processes to cater to diverse dietary preferences. Cereals, nuts, and legumes are also emerging as popular sources for dairy alternatives.

Market Research Overview

The global packaged foods and meats market encompasses vendors engaged in food processing to eliminate microorganisms and enhance shelf stability. According to Technavio, the market's size is determined by the consolidated revenue generated by the participating industry players. This market segment excludes manufacturers of food processing machinery and those specializing in packaged alcoholic and non-alcoholic beverages, such as mineral waters. Key growth drivers for the global packaged foods and meats market include the health benefits linked to the consumption of minimally processed foods, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C.

The Dairy Alternatives Market is experiencing significant growth, fueled by the growth of organized retail sector. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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/