Dairy Alternative Market with Future Prospects, Key Player SWOT Analysis and Forecast To 2031

Increase in obese population and rise in demand for chemical-free, and plant based milk products are the major factors boosting the dairy alternatives market

Rise in the number of people allergic to dairy, growth in health awareness, and increase in disposable income among individuals drive the growth of the global dairy alternatives market.

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โ€” Allied Market Research

PORTLAND, OR, US, June 26, 2023/EINPresswire.com/ — Rise in the number of people allergic to dairy, growth in health awareness, and increase in disposable income among individuals drive the growth of the global Dairy Alternatives Market. However, fluctuating prices of raw materials and high cost hinder the market growth. On the other hand, growth in demand for dairy alternatives by the vegan population and introduction of new flavor & variety of dairy alternatives present new opportunities in the coming years.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐๐ƒ๐… ๐๐ซ๐จ๐œ๐ก๐ฎ๐ซ๐ž : https://www.alliedmarketresearch.com/request-sample/6198

The dairy alternatives market size was valued at $13,198.4 million in 2020 and is estimated to reach $ 55,450.9million by 2031, registering a CAGR of 13.9% from 2022 to 2031. Dairy alternatives are plant-based natural and chemical free milk products derived through grains, seeds, or nuts. Dairy alternative products act as a substitute for consumers who are allergic to dairy products or people who are on a vegan diet. Some of the major alternatives to dairy are non-dairy milk, ice cream, cheese, yogurts, juice, energy drinks, and soft drinks.

๐‹๐ž๐š๐๐ข๐ง๐  ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

The key players in the dairy alternatives industry profiled in the report are WhiteWave Foods Company, Blue Diamond Growers, SunOpta Inc., Earthโ€™s Own Food Inc., Living Harvest Foods Inc., Kikkoman Corporation, Rebel Kitchen, Organic Valley, Panos Brands LLC, The Hain Celestial Group Inc., and Eden Foods Inc

The dairy alternatives market is segmented on the basis of source, application, distribution channel, and region. By source, market is categorized into four segments, which include soy, almond, rice, and other sources. By application, the market is segmented as food which includes spread, creamer, yogurt, tofu and others; beverages which includes dairy alternative milk, dairy-free probiotic drinks and others. Large retail, small retail, specialty store and online are the segmentations by distribution channel. Regionally, the market is classified into North America, Europe, Asia-Pacific, and LAMEA.

๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ (196 ๐๐š๐ ๐ž๐ฌ ๐๐ƒ๐… ๐ฐ๐ข๐ญ๐ก ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐‚๐ก๐š๐ซ๐ญ๐ฌ, ๐“๐š๐›๐ฅ๐ž๐ฌ, ๐š๐ง๐ ๐…๐ข๐ ๐ฎ๐ซ๐ž๐ฌ) ๐š๐ญ: https://www.alliedmarketresearch.com/checkout-final/108b1610579dda4c6cc2d9c36ec061cf

In 2020, the beverages segmentwas the most prominent segment accounting for maximum share in the globaldairy alternatives market. However, the food segment is expected to witness notable growth,with a CAGR of 13.4% from 2022-2031.

Based on distribution channel, the large retail segment was the leading distribution channel with most of the dairy alternatives market share in 2020. However, the online segment is expected to witness the fastest growth through the forecast period.

๐Š๐ž๐ฒ ๐Ÿ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฌ๐ญ๐ฎ๐๐ฒ

-> The dairy alternatives market was valued at $13,198.4 million in 2020 and is estimated to reach $ 55,450.9 million by 2031, growing at a CAGR of 13.9% through the forecast period.

-> Based on source, the almond segment is expected to witness the fastest growth, registering a CAGR of 14.6% during the forecast period.

-> In 2020, based on application, the beverage segment held the highest share, accounting for more than half of the global market share.

-> In 2020, China was the most prominent market in the Asia-Pacific region and is expected to grow at a significant CAGR throughout the forecast period.

-> Asia-Pacific was the dominant region in 2020, accounting for more the two-fifth of the dairy alternatives market share.

๐…๐จ๐ซ ๐…๐ฎ๐ซ๐ญ๐ก๐ž๐ซ ๐€๐ฌ๐ฌ๐ข๐ฌ๐ญ๐š๐ง๐œ๐ž ๐‚๐จ๐ง๐ง๐ž๐œ๐ญ ๐ญ๐จ ๐Ž๐ฎ๐ซ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ญ : https://www.alliedmarketresearch.com/connect-to-analyst/6198

Based on applications, the beverage segment accounted for the largest share in 2021 contributing to nearly three-fourths of the global dairy alternatives market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 14.2% from 2022 to 2031, owing to increasing demand for plant-based chemical free milk and other drinks.

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
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Originally published at https://www.einpresswire.com/article/641528816/dairy-alternative-market-with-future-prospects-key-player-swot-analysis-and-forecast-to-2031

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