The global Dairy Alternative Market Growth Accelerated by Rising Demand for Plant-Based and Lactose-free Products
Dairy alternative products such as plant-based beverages, yogurt, cheese and butter produced from soy, almonds, coconuts, rice and other plant sources are being widely adopted by lactose intolerant population and vegans/vegetarians. These products provide similar taste and experience of dairy products with added advantage of plant-based, lactose-free and cholesterol-free. Growing health consciousness among consumers and inclination towards vegan diets is fueling the demand for dairy alternatives. The global Dairy Alternative Market is estimated to be valued at US$ 27.0 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The rising demand for plant-based and lactose-free products is one of the key trends driving the growth of the global dairy alternative market. As consumers are becoming increasingly health conscious and environmental friendly, the demand...