According to the research report, the global dairy alternatives market size & share was valued at USD 20.54 billion in 2020 and is expected to reach USD 50.15 Billion By 2028, to grow at a CAGR of 12.3% during the forecast period.

Dairy alternatives are any food that imitates products derived from milk. It includes yogurt, milk, cheese, butter, and ice cream. Plant-based products are frequently made from nuts, beans, and seeds soaked and fused into the water to withdraw properties homogenous to milk. For instance, cow, buffalo, sheep, and goat’s milk constitutes fat, proteins, minerals, vitamins, and calories. Some milk alternatives are soy milk, oat milk, almond milk, and hemp milk. Yogurt alternative includes coconut yogurt. Butter alternatives are extra virgin olive oil. Cheese alternatives are cashew cheese. Ice cream alternatives are bananas.

There are many benefits of dairy alternatives. Conceivably, the most important use of dairy substitutes is their carbon strength proportional to milk produced by livestock. Globally, livestock is deemed to have 15% of global greenhouse emissions. The majority of it is the accountability of the dairy industry. Deforestation blends the influence as carbon inhaling trees are cleared to generate grazing land for the livestock. By restricting animal products from the diet, land loss and emission acceleration are stopped, and the demand for these valuable products is lessened. Dairy alternatives also have a life shelf that is longer, which scales down on waste and food spoilage.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Important Questions Being Answered by The Market Report

• What is the market size and growth?
• What is the CAGR of the dairy alternatives market?
• How can the sample report be procured from the dairy alternatives market?
• What would be the forecast period?
• Which are the top companies?
• By region, which segment will dominate the market?

Top Market Players Are:

• SunOpta Inc.
• Oatly
• Danone
• The Hain Celestial Group Inc.
• DAIYA FOODS INC.
• Living Harvest Foods Inc.
• Melt Organic
• Vitasoy International Holdings Limited
• Freedom Foods Group
• Earth’s Own Food Company
• The Whitewave Foods Company
• ADM
• Ripple Foods
• Nutriops
• Blue Diamond Growers
• Eden Foods Inc.
• Organic Valley Family of Farms
• CP Kelco

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Dairy alternatives market: Growth leading factors

Almond milk is becoming a popular alternative for dairy products, especially among youth. They are health-conscious and partake in diets that are ketogenic and vegan. Almond milk is an affluent substitute due to its fiber, lipid, and protein content. Additionally, almond milk regulates blood pressure and tends to be beneficial for the kidney, skin, and heart. It is growingly being consumed in the diet as a means of prevention of related diseases.

Increasing demand for unsweetened dairy alternatives is growing as consumers want to circumvent additional calories present in added sugar. Consumers are also selecting dairy alternatives to reduce their calorie intake, as dairy products are usually infused with high calories. In context to weight loss, many consumers are substituting cow or buffalo milk with almond and soy milk. Therefore, there will be growth as fitness-conscious consumers are increasing globally.

The covid-19 pandemic has brought about an unforeseen growth in plant-based substitutes. Also, retail shelves have lengthened shelf and storage space for dairy alternatives to consider the increasing demand.

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Dairy alternatives market: Report Scope

Dairy alternatives market: Key segmentation

• Insight by source, product, distribution channel, and region

By source, soy has led the market as it is rich in nutrients and has a high protein content compared to other dairy alternatives. By product, the milk-based dairy alternative product segment accounted for a significant revenue share. The growing old age population has led to people opting for milk-based dairy alternatives. By distribution channel, supermarkets and hypermarkets extracted a substantial portion of claim as the retail outlets were large-sized, which provide various categories of retail products in one place.

By region, Asia Pacific emerged as a dominant market, inflating population and growing disposable income in developing countries like India, China, and Japan. The growing cases of lactose intolerance accompanying the ever-increasing health issues linked with harmful additives in dairy products are expected to push the demand for non-dairy products like almond milk, soy milk, and rice milk. North America is also one of the leading markets for dairy alternatives due to alternative products like yogurt and ice cream being taken in on a large scale. Flavored milk accounts for two-thirds of milk products sold in North American schools.

Browse the full “Dairy Alternatives Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Almond, Coconut, Rice, Oats, Others); By Product; By Distribution Channel; By Region; Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/dairy-alternatives-market

Key highlights of the report

• The report offers a quantitative analysis of the general dairy alternatives estimations, market trends, and dynamics of the market size in the forecast period to recognize the current opportunities
• Porter’s five forces analysis underscores the potency of the buyers and suppliers to authorize stakeholders to make business decisions that are profit-oriented and strengthen the network of supplier-buyer
• Thorough analysis and market size and segmentation help in deciding the persuasion of dairy alternatives market opportunities
• The prominent countries in each region are depicted as per the revenue contribution to the global market
• The market player positioning segment smoothens benchmarking and offers a clear comprehension of the market players in the industry

The market primarily depends on the source, product, distribution channel, and region

Dairy alternatives market: By source

• Soy
• Almond
• Coconut
• Rice
• Oats
• Others

Dairy alternatives market:  By product

• Milk
• Yogurt
• Cheese
• Ice cream
• Creamer
• Others

Dairy alternatives market: By distribution channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Online Retail
• Others

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