Dairy Alternatives Market, Forecast 2024-2032
The Dairy Alternatives Market size was valued at USD 28.55 USD Billion in 2023 and is projected to reach USD 70.61 USD Billion by 2032, exhibiting a CAGR of 13.81 % during the forecast period. The dairy alternatives market has experienced significant growth in recent years, driven by increasing consumer awareness of health, sustainability, and ethical considerations. This market encompasses a range of plant-based products that serve as substitutes for traditional dairy items, including milk, cheese, yogurt, and ice cream. Key ingredients used in these alternatives include soy, almond, oat, coconut, cashew, and rice, each offering distinct flavors, nutritional profiles, and functional properties. One of the primary factors fueling the demand for dairy alternatives is the rise in lactose intolerance, which affects a substantial portion of the global population. Many consumers are turning to plant-based options to avoid discomfort associated with lactose-containing products. Additionally, a growing number of people are adopting vegan or flexitarian diets, further contributing to the popularity of dairy alternatives.
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Key insights, market dynamics, growth drivers, challenges, competitive landscape, and future outlook are covered in detail in the comprehensive report.
The report provides a regional analysis, highlighting market size, growth potential, and key trends in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 13.81% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 13.81% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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