Europe Dairy Alternatives Market (2023 - 2028):
The Europe dairy alternatives market is expected to reach $ 2.22 million by the end of 2028, with a CAGR of 7.12% between 2023 and 2028.
Dairy Alternatives refer to milk that is processed into seeds, grains, or nuts. People with lactose intolerance disorders can also consume lactose substitutes. Dairy Alternatives are used in cooking and baking, allowing you to create your favorite dairy-free recipes. These foods and drinks are plant-based and are considered a very healthy alternative to dairy products. Soy milk, almond milk, and rice milk are among the most popular options for dairy alternatives around the world. Dairy Alternatives are considered healthy because many essential vitamins and minerals are present. Dairy alternatives are made from a variety of sauces, including almond milk, soy milk, rice milk, oat milk, coconut milk, and hemp milk. Alternatives to dairy not only promote better health but also reduce the likelihood of human disease. These alternatives are widely used for ice cream, yogurt, cheese, and creams and come in a variety of flavors.
Increasing urbanization leading to lifestyle changes is further driving the growth of the European Dairy Alternatives market.
In November, VALSOIA S.P.A (Italy) launched two types of almond ice cream. It is a 100% dairy alternative.
Increased awareness of the nutritional benefits of dairy alternatives coupled with increased health awareness among consumers is a key factor driving the growth of the European Dairy Alternatives market. In addition, the increased incidence of gastrointestinal and diabetic diseases among the population, the launch of innovative new products from various companies, and changes in consumer preferences for vegan diets are other factors that are expected to drive the growth of the market for Europe Dairy Alternatives during the forecast period. Growing concern about lactose intolerance among people and a significant shift in consumer preferences for healthy foods are key factors contributing to the European Dairy Alternatives market's growth. Consumers' growing awareness of the incredible nutritional value of plant-based dairy alternatives, such as lowering cholesterol levels, promoting cardiovascular health, and managing diabetes, will encourage them to choose dairy alternatives to stay healthy and healthy. Various multinational giants are primarily focused on product innovation, including introducing different flavors of almond milk and soy milk, which will appeal to many consumers looking for tastier healthy beverage options. The growing trend of the vegan diet and the increase in per capita income will positively impact the market in the future. Additionally, Dairy Alternatives are rich in calcium and vitamins, leading to increased adoption for home use, which is another factor that is expected to drive the growth of the global dairy substitute market during the forecast period. The growing demand for healthy flavored beverages among the younger population, coupled with high nutritional value, is a key factor in greatly promoting the regional industry's expansion. Increased health awareness and increased disposable income also contributed to the growth of the European Dairy Alternatives market. Additionally, other market players' introduction of additional healthy ingredients is another factor driving the Europe Dairy Alternatives market growth. Dairy Alternatives are experiencing high market demand as a preference for plant-based products increases among the population.
European Dairy Alternatives' market is on the rise as intolerance associated with food and dairy allergies increases. Increasing consumer health awareness is one of the key factors, which is driving the growing market demand for Europe Dairy Alternatives in the food and beverage industry, such as bakeries and confectionery. The Europe Dairy Alternatives market is expected to be driven primarily by the plant-based dairy alternatives market and factors such as lactose intolerance and milk allergies, with a growing consumer preference for vegan nutritional benefits. As lactose intolerance has risen among Europeans, the demand for Dairy Alternatives has exploded. The antioxidant properties of Dairy Alternatives like almond milk, which can have protective effects against cancer and heart disease, have further boosted the demand for Europe Dairy Alternatives. The growing number of health-conscious consumers coupled with consumer awareness of the health benefits of Europe Dairy Alternatives is expected to drive market growth during the forecast period. The growing demand for dairy alternatives by the vegan population and the introduction of new flavors and various dairy alternatives are expected to provide growth opportunities for the European Dairy Alternatives market.
The high cost of Dairy Alternatives is a key factor that is expected to slow the growth of the Europe Dairy Alternatives market. Additionally, cross-contamination from dairy alternatives is another factor that is expected to hamper the European Dairy Alternatives market's growth during the forecast period.
Europe Dairy Alternatives Market Segmentation Analysis:
Depending on the application, the Europe Dairy Alternatives market is segmented into ice cream, milk, cheese, cream, yogurt, etc. The milk sector is expected to grow at a higher CAGR during the forecast period as consumer preferences for vegan diets change dramatically as concerns about animal and environmental rights grow regionally.
The Europe Dairy Alternatives market is segmented into health food stores, online supermarkets/hypermarkets, pharmacies, and others based on the distribution channels. The supermarkets/hypermarkets segment is expected to lead the market during the forecast period, as the number of supermarkets/hypermarkets globally increases rapidly due to population growth and rapid modernization. The online store is very profitable, provides faster access to all products, and offers other exceptional benefits to consumers such as free messaging options, multiple payment options, refunds, and other discounts.
Impact of COVID 19 on the Europe Dairy Alternatives Market:
Shortages of milk and dairy products were recorded in numerous European markets during the COVID 19 scenario. As a result, millions of people around the region are beginning to look for Europe Dairy Alternatives. The growing interest in enhancing immunity has encouraged health-conscious consumers to find more value in their dishes, which may also drive Europe Dairy Alternatives' transition. After COVID-19, Europe Dairy Alternatives' market situation looks favorable because the increased interest in proper labeling may attract more customers.
Europe Dairy Alternatives occupies an important part of the world market prospects. The main markets in Europe are Germany, the United Kingdom, France, and Spain. Germany Dairy Alternatives is the largest market in the region due to rapid population growth, increased consumer awareness, health and fitness, liberalization of FDI in the food industry, and rapidly increasing purchasing power. The rise of liquor and specialty stores, coupled with the changing trend towards low cholesterol foods, is one of the main contributors to the growing demand for products in the UK region. The growing propensity for ready-to-eat, packaged, and ready-to-eat foods will further drive growth in the Spanish Dairy Alternatives market during the forecast period. The strongest demand for lactose-free milk for children as well as for pregnant women is driving the growth of the French Dairy Alternatives market in Europe.
Key Players in the Market:
Key players in the Europe Dairy Alternatives market include Hain Celestial, Whitewave Foods Company, SunOpta, Blue Diamond Growers, Freedom Foods Group Limited, Earth's Own Food Company, Sanitarium, Nutriops S.L., Eden Foods, and Valsoia S.p.A.
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