The dairy alternative market is expected to grow with a CAGR of 11% by 2024

   September 26, 2019
According to a market report by Lucintel, the future of the dairy alternative market looks promising with opportunities in the food and beverage industries. The dairy alternative market is expected to grow with a CAGR of 11% from 2019 to 2024. The major growth drivers for this market are growing consumer preference for a vegan diet, nutritional benefits, increasing cases of lactose intolerance and milk allergies, and the rapidly growing food and beverage industry.

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In this market, soy milk, almond milk, rice milk, and coconut milk are the major alternative dairy sources. Soy milk is the largest dairy alternative segment as it contains various minerals such as iron, calcium, phosphorous, zinc, sodium, potassium, and magnesium.

Within the dairy alternative market, large retail, small retail, specialty stores, and online retail are the major distribution channels.

Plain formulation and flavored formulation are the major formulation types of the dairy alternative market.

Asia Pacific will remain the largest market over the forecast period due to an expanding population and rising disposable income.

The Whitewave Foods Company, The Hain Celestial Group, Blue Diamond Growers, Sunopta, Sanitarium Health and Wellbeing Company, Freedom Foods Group, Eden Foods, Nutriops, Earth’s Own Food Company, and Triballat Noyal are among the major manufacturers of dairy alternative. products

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the dairy alternative market by dairy alternative source type, formulation, end use industry, distribution channel, and region. Lucintel has prepared a comprehensive research report titled "Dairy Alternative market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the dairy alternative market by dairy alternative source type, formulation, end use industry, distribution channel, and region as follows:

By Dairy Alternative Source Type [$M shipment analysis for 2013 – 2024]:

  • Soy Milk

  • Almond Milk

  • Rice Milk

  • Coconut Milk

  • Others

By Formulation [$M shipment analysis for 2013 – 2024]:

  • Plain Formulation

  • Flavored Formulation

By End Use Industry [$M shipment analysis for 2013 – 2024]:

  • Food

  • Beverage

By Distribution Channel [$M shipment analysis for 2013 – 2024]:

  • Large Retail

  • Small Retail

  • Specialty Stores

  • Online Retail

By Region [$M shipment analysis for 2013 – 2024]:

  • North America

    • United States

    • Canada

    • Mexico

  • Europe

    • United Kingdom

    • Germany

    • France

    • Italy

    • Spain

  • Asia-Pacific

    • China

    • Japan

    • India

  • Rest of the World (ROW)

    • Brazil

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

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