[174+ Pages Research Report] Global Dairy Alternatives Market to surpass USD 54.73 billion by 2030 from USD 24.65 billion in 2020 at a CAGR of 12.7 % in the coming years, i.e., 2021-30. Because of the shift in consumer eating habits and diet trends, the industry is gaining traction and experiencing high demand.

Product Overview

Dairy substitutes are foods and drinks that can be used in place of dairy. These plant-based foods and drinks are thought to be a healthier alternative to dairy. Soy milk, rice milk, and almond milk are some of the most common dairy alternatives around the world. Due to the availability of a variety of important vitamins and minerals, dairy alternatives are considered safe. They're also low in fat and cholesterol, and lactose-free. Dairy Alternatives have gained a lot of traction in both the mature and emerging markets. This is due to an increase in the number of people who are allergic to dairy. Furthermore, rising health consciousness and disposable income have aided the growth of the dairy alternatives sector.

Market Highlights

Global Dairy Alternatives Market is expected to project a notable CAGR of 12.7% in 2030.

Over the forecast period, rising milk allergies and lactose intolerance cases are expected to fuel demand for dairy alternatives even further. 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.

Global Dairy Alternatives Market: Segments

Soy segment to grow with the highest CAGR during 2020-30

Global Dairy Alternatives Market is segmented by source into soy, almond, coconut, rice, oats, and others. Soy segment held the largest market share in the year 2020. Soy milk, which is high in nutrients and protein relative to other dairy alternatives, is expected to drive the segment over the forecast era. Soy milk has been used in the Asia Pacific region for centuries and is used in a variety of recipes, which is expected to keep product demand steady over the forecast period. It's used to help people lose weight and lower their blood cholesterol levels. It also helps to reduce the risk of a variety of postmenopausal problems, as well as improve cardiovascular health, making it a common supplement.

Hypermarkets & supermarkets segment to grow with the highest CAGR during 2020-30

Global Dairy Alternatives Market is segmented by distribution channel into convenience stores, hypermarkets & supermarkets, e-commerce platforms, and others. Hypermarkets & supermarkets segment held the largest market share in the year 2020. Supermarkets and hypermarkets are massive retail stores that typically deliver a variety of retail product categories under one roof. The wide variety of products available and the convenience of real-time brand comparison for customers are the primary reasons for hypermarkets and supermarkets' popularity in this market. In order to be open to consumers, supermarkets are normally situated near a residential area. However, due to a lack of land near residential areas, the majority of supermarket and hypermarket chains are expanding outside of the city.

Milk segment to grow with the highest CAGR during 2020-30

Global Dairy Alternatives Market is divided by-products into milk, yogurt, ice cream, cheese, creamer, and others. Over the forecast period, the milk segment is projected to expand at the fastest pace. In Europe, the growing elderly population has resulted in a preference for milk-based dairy alternatives. Growing health concerns about soymilk, especially among breast cancer survivors, are expected to stifle market growth. Over the next eight years, increasing demand for low-calorie foods, combined with the growing popularity of plant-based nutritional goods, is expected to boost demand for the commodity in Europe.

Market Dynamics

Drivers

Lactose Intolerance and Growing Health Awareness

The demand for dairy alternatives has accelerated due to the growing number of lactose-intolerant and dairy-allergic consumers. Milk and other dairy foods such as ice cream, cheese, and yogurt contain lactose, which is the main carbohydrate. Abdominal discomfort, diarrhea, nausea, stomach distension, flatulence, and constipation are some of the signs of lactose intolerance. As consumers become more conscious of healthy eating habits, the rising number of these allergies encourages the consumption of dairy alternatives. As a result, demand for a variety of dairy alternatives, such as plant-based non-dairy products like milk, ice creams, creamers, and cheese, is increasing among the consumers.

Market Tastes and Increased Demand for Organic Foods

Organic foods and beverages have the potential to transform the dairy alternatives market as a whole. Market tastes are shifting toward healthier foods and drinks, owing to increased understanding of the practical health benefits of organic food intake. Clean-label foods and drinks have piqued consumer interest around the world, increasing in demand for organic ingredients. Developing countries such as China and India are expected to see a significant increase in demand for organic food ingredients from the supply side during the forecast period.

Restraint

Allergies associated with Plant-Based Sources Such as Tree Nuts and Almonds

Allergies associated with the plant-based sources used to produce substitute dairy products are one of the major factors limiting the market's growth. Despite the high nutritional value of soybeans, the presence of anti-nutritional components in soy can cause allergies. When the human immune system misinterprets the harmless proteins found in soy as harmful, antibodies are produced to combat them, resulting in a soy allergy. Tree nuts, such as almonds, are another product that causes allergies. As a result, these individuals must avoid almond-based products like almond milk and other non-dairy almond products.

Global Dairy Alternatives Market: Key Players

Organic Valley

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Blue Diamond Growers

SunOpta Inc.

Earth’s Own Food Inc.

Living Harvest Foods Inc.

Kikkoman Corporation

Rebel Kitchen

Panos Brands LLC

WhiteWave Foods Company

Other Prominent Players

Global Dairy Alternatives: Regions

Global Dairy Alternatives market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Dairy Alternatives in Asia Pacific held the largest market share in the year 2020. The Asia Pacific region's demand for the commodity is expected to increase as the population of developing countries such as India, China, and Japan grows and disposable incomes rise. Increased cases of lactose intolerance, combined with increasing health concerns about harmful additives used in dairy products, are expected to drive demand for non-dairy alternatives such as soy milk, almond milk, rice milk, and other dairy substitutes.

Global Dairy Alternatives Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Dairy Alternatives Market report also contains analysis on:

Dairy Alternatives Market Segments:

By Source

Soy

Almond

Coconut

Rice

Oats

Others

By Distribution Channel

Convenience stores

Hypermarkets & supermarkets

E-commerce platforms

Other

By Product

Milk

Yogurt

Ice Cream

Cheese

Creamer

Others

Dairy Alternatives Market Dynamics

Dairy Alternatives Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Contents

1. Executive Summary

2. Global Dairy Alternatives Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Global Dairy Alternatives Market Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Global Dairy Alternatives Market

1. Market Size & forecast, 2020A-2030F

1. By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Volume (Billion Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Global Dairy Alternatives Market: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Source: Market Share (2020-2030F)

1. Soy, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Almonds, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Coconut, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Rice, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Oats, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

6. Others, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. By Distribution Channel : Market Share (2020-2030F)

1. Convenience stores, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Hypermarkets & supermarkets, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. E-commerce platforms, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Other, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. By Product: Market Share (2020-2030F)

1. Milk, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Yoghurt, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Ice cream, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Cheese, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Creamer, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

6. Other, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile

1. Organic Valley

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. Blue Diamond Growers

3. SunOpta Inc.

4. Earth’s Own Food Inc.

5. Living Harvest Foods Inc.

6. Kikkoman Corporation

7. Rebel Kitchen

8. Panos Brands LLC

9. WhiteWave Foods Company

10. Other Prominent Players

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)