The rising health awareness among consumers along with environmental concerns and sustainability factors is driving the growth of dairy alternatives market.
The global dairy alternatives market size is projected to reach nearly USD 40.5 billion in 2028. Dairy alternatives are growing in popularity as more people switch to a vegan diet. Because of the agricultural production base for plant-based sources, Asia Pacific would dominate the sector. Because of the shift in consumer eating habits and changes in diet trends, the industry is gaining traction and seeing strong demand. Over the forecast period, rising incidences of milk allergies and lactose intolerance are expected to boost demand for dairy alternatives.
As a result, dairy substitutes are being used in an increasing number of food and beverage products to cater to the growing number of consumers who prefer plant-based and other dairy alternatives. Since it contains isoflavones, which are said to lower the risk of heart disease and breast cancer, soy milk is expected to gain popularity among the elderly and female consumers in the United States. Soy also produces phytoestrogen, a hormone that works similarly to estrogen in women. Drinking soy milk is common among women as an alternative therapy for raising estrogen levels, which is expected to fuel the market.
Almond milk is becoming increasingly common among health-conscious young people who adopt diets including the ketogenic and vegan diets. Due to its high lipids, fiber, and protein content, almond milk is a rich dairy alternative that is expected to gain widespread acceptance among consumers and end-use industries. Almond milk also helps to control blood pressure and has health benefits for the skin, kidneys, and heart. It is gradually being used in people's diets as a way of preventing diseases associated with it.
The study also assesses the demand using value chain analysis to highlight the different characteristics of the global dairy alternatives industry. Furthermore, the dairy alternatives market report covers various qualitative aspects of the industry, such as market restraints, key industry drivers, and opportunities. In addition, the report offers a comprehensive analysis of the competition by company profiles and the competitiveness of local and global vendors.
Unsweetened dairy alternatives are becoming more common as consumers tend to escape the extra calories brought on by added sugar. Dairy substitutes are also being used by consumers to reduce their calorie intake, as dairy products are typically high in calories. Consumers who want to lose weight are gradually substituting soy or almond milk for cow or buffalo milk. This, in turn, is expected to help the market expand as the number of fitness-conscious customers grows around the world.
The market for the commodity is being driven by concerns about hormones, pesticides, and antibiotics. The residues of the aforementioned substances are said to be dangerous to consume, especially by pregnant women. Hormones found in dairy products are thought to cause and initiate endometrial, prostate, and breast cancer in humans. Dairy substitutes have emerged as a healthier alternative to dairy products since they are derived from natural sources and extracted in a natural manner. Over the forecast period, the superior benefits provided by dairy alternatives are expected to drive market development.
Key Segments of the Global Dairy Alternatives Market
Source Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America