Dairy alternatives are food and beverages that can be used as an auxiliary for dairy. These food and beverages are derivative from plants and are considered a very healthy alternative to dairy. Rice milk and Soy milk are among the most popular choice for dairy alternatives internationally, with significant demand for almond milk. Dairy alternatives are considered healthy due to the presence of several essential vitamins and minerals. These alternatives are also low on fats, cholesterol and have zero concentration of lactose. Dairy Alternatives have been very popular in the mature and developing market. This can be credited to an increase in the number of people allergic to dairy. Moreover, rising health awareness and disposable income have helped the dairy alternatives market development. Additionally, the introduction of healthy ingredients by different market players are some other factors that further drive the development of the market. But fluctuating prices of raw materials and high-cost act as the major restraint for this market. Growing flavored health drinks demand among the young population alongside its high nutritional values is the key factor in improving global industry development. The rising rate of obesity, diabetes, cardiovascular, and gastrointestinal diseases alongside growing consumer spending on healthy food products will drive the need for essential nutrition, lactose, calories, and sugar-free food products.

Research Methodology:

The dairy alternatives market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology, along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:

Dairy Alternatives Market by Source

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

Dairy Alternatives Market by Application

• Cheese
• Creamers
• Yogurt
• Ice Creams
• Milk
• Others

Dairy Alternatives Market by Formulation

• Plain
• Flavored

Dairy Alternatives Market by Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

As per source segmentation, the diary alternatives market has been divided into almond, soy, oats, hemp, coconut, rice, and others. Among them, soy-sourced dairy products are the most popular as the soy has a wide variety of milk products similar to cow and buffalo milk. Moreover, soy milk products contain more protein, vitamins, minerals, antioxidants, and have low cholesterol compared to almost all other sources, including cow and buffalo milk.

Among all applications, milk is the major segment to have a maximum share in the market. Prioritizing to the health consumers are more concerned about choosing the beverages. The high demand for milk extracted from non-dairy ingredients such as almond, coconut, soy, and other non-dairy ingredients is rapidly increasing. Health concerns associated with lactose intolerance and the busy lifestyles of working middle-class people are driving the non-dairy milk application.

In terms of formulation, the market is segmented into plain and flavored. The plain segment has acquired a maximum share in the dairy alternatives market. This is due to the increasing demand for plain unflavored milk, which is unsweetened. Due to increasing preference for low-calorie products among the 40+ age population, it is boosting the demand for plain milk.

The dairy alternatives market's geographical regions are North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific has a major contribution in the market share due to the drastic urbanization, diversification in diet, increase in the per capita income of the population in this region.

Furthermore, the significant factors stimulating the global dairy alternatives are the increasing population suffering from allergic reactions to dairy products. Additionally, the increasing concerns about the health and benefits of non-dairy products are supporting the extreme demand for dairy alternative products.     

The White Wave Foods Company, Blue Diamond Growers, Green Spot Co., Ltd, Freedom Foods Group Limited, Earth’s Own Food Company Inc., Hain Celestial, SunOpta, Ecomil, Sanitarium, Eden Foods Inc., Triballat Noyal, Valsoia SpA, Dohler, Panos Brands, Hiland Dairy, Ripple Foods, and Califia Farms are the few notable companies of dairy alternatives market.

As a result, these dairy alternative products have a crucial role in daily life since milk and other milk products are essential and have a major contribution to protein supplements. Moreover, compared to the usual dairy products, these products are less in cholesterol and more beneficial.

• The report gives the overall perception of the market growth factors and other factors which are positively and negatively impacting the market growth.
• This study explains every segment and sub-segments of the market and their contribution to market growth.
• Further, this report gives an analysis of the forthcoming trends and preferences of the consumers of the market.
• The in-depth insights are offered about the key vendors of the market in terms of their dynamic strategies, new products launched, and expansion of the business.

1. Executive Summary
2. Industry Outlook
   1. Industry Overview
   2. Industry Trends
3. Market Snapshot
   1. Market Definition
   2. Market Outlook
      1. Porter Five Forces
   3. Related Markets
4. Market characteristics
   1. Market Overview
   2. Market Segmentation
   3. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
   4. DRO - Impact Analysis
5. Source: Market Size & Analysis
   1. Overview
   2. Almond
   3. Soy
   4. Oats
   5. Hemp
   6. Coconut
   7. Rice
   8. Others
6. Application: Market Size & Analysis
   1. Overview
   2. Cheese
   3. Creamers
   4. Yogurt
   5. Ice Creams
   6. Milk
   7. Others
7. Formulation: Market Size & Analysis
   1. Overview
   2. Plain
   3. Flavored
8. Geography: Market Size & Analysis
   1. Overview
   2. North America
   3. Europe
   4. Asia Pacific
   5. Rest of the World
9. Competitive Landscape
   1. Competitor Comparison Analysis
   2. Market Developments
      1. Mergers and Acquisitions, Legal, Awards, Partnerships
      2. Product Launches and execution
10. Vendor Profiles
    1. The White Wave Foods Company
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    2. Blue Diamond Growers
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    3. Green Spot Co., Ltd
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    4. Freedom Foods Group Limited
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    5. Earth’s Own Food Company Inc
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    6. Hain Celestial
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    7. SunOpta
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    8. Ecomil
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    9. Sanitarium
       1. Overview
       2. Financial Overview
       3. Product Offerings
       4. Developments
       5. Business Strategy
    10. Eden Foods Inc
        1. Overview
        2. Financial Overview
        3. Product Offerings
        4. Developments
        5. Business Strategy
11. Companies to Watch
    1. Triballat Noyal
       1. Overview
       2. Products & Services
       3. Business Strategy
    2. Valsoia SpA
       1. Overview
       2. Products & Services
       3. Business Strategy
    3. Dohler
       1. Overview
       2. Products & Services
       3. Business Strategy
    4. Panos Brands
       1. Overview
       2. Products & Services
       3. Business Strategy
    5. Hiland Dairy
       1. Overview
       2. Products & Services
       3. Business Strategy
    6. Ripple Foods
       1. Overview
       2. Products & Services
       3. Business Strategy
    7. Califia Farms
       1. Overview
       2. Products & Services
       3. Business Strategy
12. Analyst Opinion
13. Annexure
    1. Report Scope
    2. Market Definitions
    3. Research Methodology
       1. Data Collation and In-house Estimation
       2. Market Triangulation
       3. Forecasting
    4. Report Assumptions
    5. Declarations
    6. Stakeholders
    7. Abbreviations