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Global Dairy Alternatives Market by Application (Milk, Cheese, Yogurt, Ice Creams, Creamers), Distribution Channel (Supermarkets, Health Stores, Pharmacies, and Online Stores), and Region Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2023 – 2028)

Published: March, 2023
ID: 2420
Pages: 175
Formats: report pdf report excel report power bi report ppt

Dairy Alternatives Market Size, Growth, Forecast (2023-2028)

The Global Dairy Alternatives Market Size was worth USD 11.90 billion in 2022, and it is estimated to reach a valuation of USD 41.06 billion by the end of 2028, registering an annual growth rate of 16.7 % between 2023 and 2028.

Dairy Alternatives Market

Market Overview:

Dairy alternatives offer better nutritional benefits compared to traditional dairy products like milk, butter, and cheese, allowing more customers to switch to these products. Contrary to popular belief, studies published in the Food and Nutrition Research Journal show that increased milk consumption does not improve bone density in adults. Dairy substitutes have fewer calories than low-fat milk. In addition, the calcium and potassium content of these dairy substitutes is higher than that of milk, which is one of the main causes of dairy consumption. The results of these studies were incorporated into the marketing strategies by the manufacturers of dairy substitutes to increase sales.

Recent Developments in Dairy Alternatives Industry:

  • July 2017: SunOpta sold equipment on one of two production lines in Lehigh Valley.
  • April 2017: WhiteWave Foods Company, an industry entrepreneur, founded Danone S.A. (France) Completed the merger. This merger will help Danone S.A. to focus on expanding sales of factory-based products.
  • March 2017: Hain Celestial presented 75 exciting natural products at Expo West 2017.
  • WhiteWave Foods Company recently announced the acquisition of So Delicious, a famous manufacturer of plant-based frozen drinks and desserts, and the deal was worth $ 190 million.




Market Size Available

2022 – 2028

Base Year


Forecast Period

2023 - 2028



Segments Covered

By Application, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Vitsoy International Holding Limited, CP Kelko, Daiya Foods Inc, WhiteWave Foods Company, Nutriops S.L, OT AB, Eden Foods, Freedom Food Group Co Ltd, Blue Diamond Grower Inc, Hain Celestial Group and Others.

Dairy Alternatives Market Growth:

With the increasing prevalence of cardiovascular disease, obesity, diabetes, and gastrointestinal illness, along with increasing consumer spending on healthy foods, essential calories, nutrition, lactose, and sugar-free diets, is majorly bolstering this market.


Increased consumer interest in nutritional values, such as low in calories and high in protein and vitamins provided by milk substitutes or dairy alternatives, is likely to have a positive impact on the market. Soy milk contains various minerals such as iron, calcium, phosphorous, zinc, sodium, potassium, and magnesium. This product is very popular with heart patients because it lowers cholesterol levels. Also, soy milk contains the same amount of protein as milk and has fewer calories than whole milk and skim milk. Therefore, like soy milk consumption increases, overall industrial demand is expected to increase. A preliminary study of the company's performance on substitute dairy products showed that soy, rice, and almond milk yields were approximately 6% higher than conventional milk and milk yields, attracting the attention of startups and food companies.

The European dairy industry has become a market leader, especially in Western Europe. Due to the growing consumer demand for plant-derived dairy products, the global industry is supposed to grow at a significant rate. As consumer health awareness increases along with improving disposable incomes in countries such as Brazil, India, China and Japan, consumption of soy milk, almond milk, coconut milk, and rice is assumed to increase during the outlook period. The growing interest in animal rights and environmental protection is rising the preference for veganism. It is presumed to lead the industry during the projection period.

Furthermore, government policies to improve the agricultural sector will have a positive impact on market growth by increasing the availability of raw materials and lowering prices. Changes in the supply of raw materials are suspected to be a primary concern for market growth. The raw materials used in the manufacture of milk substitutes are nuts and edible grains, and most of the production is used for direct consumption. As a result, the availability of raw materials can be a crucial factor affecting the industry.


On the other hand, the price of milk substitutes depends on the supply of raw materials, which causes price fluctuations. Oat milk and many other dairy substitutes face the problem of not being able to use raw materials due to rising prices. This price volatility is one of the most significant limitations in the growth of sales of dairy alternative drinks.

Dairy Alternatives Market Segmentation Analysis:

By application, the milk segment took over the global dairy alternatives market in 2018. When choosing beverages, consumers prioritize health and convenience. The companies have diversified their beverage offering with products containing almond milk, coconut milk, and soy milk and other ingredients from non-dairy products and alternatives derived from hemp, oatmeal, or flax. Factors supporting the popularity of dairy-free milk are lactose intolerance and the health problems associated with the busy lifestyle of the middle-class working population. Due to these factors, we can save time by using convenient products that can be consumed on the go.

By distributing channels, the online store is anticipated to be the fastest-growing segment in the global dairy alternatives market during the forecast period. The growth of online stores is due to the wide range of specific dairy-free food options at reduced prices compared to traditional retail prices to attract more customers. Factors such as rapid accessibility and cost-effectiveness have increased the use of online services in developing and developed countries. As the frequency of online purchases increases, there is an opportunity to improve sales of these products by major online players such as Amazon, Vegan Online and Goodness Direct, and other online retailers around the world.

Dairy Alternatives Market Geographical Segmentation Analysis:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

The forecast for the Asia Pacific Dairy Alternatives Market is expected to show the fastest growth of more than 10% from 2020 to 2025. Economic development, improved living standards, increased consumer spending on food, and the impact of western trends will stimulate demand for dairy alternative industries. Rapid population growth, liberalization of FDI in the food industry, increased consumer awareness of health and fitness, and a rapid increase in purchasing power are key factors driving demand for products in the region. Changes in consumer preferences are the result of a higher prevalence of obesity and lactose intolerance among young and older populations.

North America dairy alternatives market accounted for more than 25% of the global business in 2018. Increased demand for nutrition and health products is expected, coupled with an increase in consumer awareness of health and fitness, deliver significant benefits during the forecast schedule. Furthermore, the willingness of consumers to pay higher prices for healthy and nutritious products will provide a favorable scenario for market growth.

Leading Company:

ADM focused on product innovation, new product launches, mergers and acquisitions to broaden its geographic base and increase market share.

Key Players in the Market:

Major Key Players in the Global Dairy Alternatives Market are

  • Vitsoy International Holding Limited
  • CP Kelko
  • Daiya Foods Inc
  • WhiteWave Foods Company
  • Nutriops S.L
  • OT AB
  • Eden Foods
  • Freedom Food Group Co Ltd
  • Blue Diamond Grower Inc
  • Hain Celestial Group


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What are the key sources taken into account in this analysis, and which segments are expected to increase at a promising rate in the future?

Soy has the largest market share in the dairy substitutes industry, followed by almonds and coconut. Almond, on the other hand, is expected to increase at the fastest rate in the next five years, thanks to a number of attributes such as high nutritious content and easy raw material availability. It has the reputation of being a clean-label ingredient, as well as being soy-free, gluten-free, and lactose-free.

What kind of data does the competitive landscape section provide?

Company profiles for the players listed below contain information such as a business overview that includes information on the company's business segments, financials, geographic presence, and revenue mix. In addition to product offerings, key developments associated with the company, SWOT analysis, and MnM view to elaborate analyst views on the company, the company profiles section provides information on product offerings, key developments associated with the company, SWOT analysis, and MnM view to elaborate analyst views on the company. The Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium Health and Wellbeing Company (Australia), Danone (France), and Freedom Foods Group are among of the market's major participants (Australia).

What factors are driving the market for dairy alternatives?

The expansion of the vegan customer base, as well as increased demand for dairy alternatives-based goods from lactose-intolerant consumers, are two significant reasons driving the dairy alternatives market. In addition, the global market is being driven by an increase in the consumption of dairy alternatives for weight loss.

Who are the major participants in the market for dairy alternatives?

The Hain Celestial Group, Inc., SunOpta Inc., Danone, Oatley, Vitasoy International Holdings Limited, DAIYA FOODS INC., Melt Organic, Living Harvest Foods Inc., Ripple Foods, and Earth's Own Food Company Inc. are some of the prominent competitors in the dairy alternatives market.

In the dairy alternatives market, which area had the biggest share?

In 2020, Asia Pacific dominated the worldwide dairy alternatives market, accounting for over 44.0 percent of global revenue.

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