Dairy Alternatives Market to increase by USD 18.49 billion between 2022 to 2027 | The growth of the organized retail sector drives market growth – Technavio
NEW YORK, Sept. 17, 2023 /PRNewswire/ — The dairy alternatives market size is expected to grow by USD 18.49 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 10.85% during the forecast period. The growth of the organized retail sector is notably driving the dairy alternatives market. However, factors such as Distribution challenges in the packaged food and beverages sector may impede market growth. The market is segmented by Distribution Channel (Supermarkets and hypermarkets, Convenience stores, Online retail, and Others), Product (Beverages-based dairy alternatives and Food-based dairy alternatives), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The free sample report is available in PDF format
Key Segment Analysis
The beverages-based dairy alternatives segment is significant during the forecast period. The segment comprises products based on non-dairy milk like soy milk, almond milk, rice milk, oat milk, coconut milk, hemp milk, and other plant-based milk. This includes products that include flavored milk, milkshakes, energy drinks, and fruit mixes. Its unique taste and flavor and the substantial amount of minerals present in almond milk drive the growing popularity of along milk among consumers. Hence, such factors fuel the growth of the beverages-based segment of the dairy alternatives market during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View the Free PDF Sample Report.
Geographical Market Analysis
APAC will contribute 36% to the growth of the global market during the forecast period. China, Australia, New Zealand, South Korea, Japan, Indonesia, the Philippines, and India are the major contributing countries in the region. Products such as yogurt, cheese, and almonds have also gained traction among consumers in the region. Danone SA, Kikkoman Corp., Vitasoy International, and Freedom Foods are some of the major players in the region. Hence, such factors fuel the growth of the regional dairy alternatives segment in APAC during the forecast period.
Company Insights
The dairy alternatives market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
Archer Daniels Midland Co., Blue Diamond Growers, Borges Agricultural and Industrial Nuts SA, Califia Farms LLC, Campbell Soup Co., Dohler GmbH, Earths Own Food Co. Inc., Eden Foods Inc., GreenSpace Brands Inc., J M Huber Corp., Living Harvest Foods, MALK Organics, Mariani Nut Co., Oatly Group AB, Otsuka Holdings Co. Ltd., PANOS Brands LLC, Sanitarium, SunOpta Inc., Tate and Lyle Plc, Vitasoy International Holdings Ltd.
Related Reports:
The dairy alternative plant milk beverages market size is projected to increase by USD 10,586.05 million and the market size is estimated to grow at a CAGR of 7.95% between 2022 and 2027.
The dairy food market is estimated to grow at a CAGR of 2.73% between 2022 and 2027. The size of the market is forecast to increase by USD 114.46 billion.
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Dairy Alternatives Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.85% |
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Market growth 2023-2027 |
USD 18.49 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
9.77 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 36% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Archer Daniels Midland Co., Blue Diamond Growers, Borges Agricultural and Industrial Nuts SA, Califia Farms LLC, Campbell Soup Co., Dohler GmbH, Earths Own Food Co. Inc., Eden Foods Inc., GreenSpace Brands Inc., J M Huber Corp., Living Harvest Foods, MALK Organics, Mariani Nut Co., Oatly Group AB, Otsuka Holdings Co. Ltd., PANOS Brands LLC, Sanitarium, SunOpta Inc., Tate and Lyle Plc, and Vitasoy International Holdings Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Distribution Channel
Market Segmentation by Product
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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SOURCE Technavio
