Chemical Research

  The global dairy alternative market is estimated to be valued at US$ 27.0 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030. Dairy alternatives are plant-based beverages and food products that mimic dairy in various applications such as cheese, yogurt, creamers, and ice cream. They are usually derived from soy, almonds, coconuts, rice, and cashew. Dairy alternatives provide a solution to lactose intolerance and suit vegan lifestyles. The rising vegan population worldwide combined with growing awareness about the negative health impacts of dairy is boosting the demand for dairy alternative products. Key Takeaways Key players operating in the dairy alternative market are Danone North America Public Benefit Corporation (US), The Hain Celestial Group, Inc. (US), Blue Diamond Growers (US), SunOpta (Canada), and Sanitarium (New Zealand). Key opportunities in the market include new product development according to changing consumer preferences an...

  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...