Dairy alternatives are used in food & beverages that are dairy-free or do not contain lactose. These food products are especially suitable for lactose-intolerant consumers.
The health benefits of dairy alternatives have led to their large-scale adoption in numerous applications. Factors such as changing lifestyles, growing health awareness, increasing instances of lactose allergies are further driving the global market.
Dairy Alternatives Market worth $40.6 billion by 2026 - Exclusive Report by MarketsandMarkets™
What will your New Revenue Sources be?
What Are The Known And Unknown Adjacencies Impacting The Dairy Alternatives Market
Growing Demand for Lactose-Free Food & Beverage Products and the Rising Trend of Veganism Drive the Market for Dairy Alternatives
The dairy alternatives market is projected to grow from USD 17.3 billion in 2018 to USD 29.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period.
Growing Demand for Lactose-Free Food & Beverage Products and the Rising Trend of Veganism Drive the Market for Dairy Alternatives
Growth opportunities and latent adjacency in Dairy Alternatives Market
North America is projected to be the fastest-growing region from 2017 to 2022 due to its large almond milk market, a strong inclination toward a vegan diet, and a growing number of manufacturers in the region.
The dairy alternatives market is projected to grow at a CAGR of 11.7% from 2017, to reach USD 14.36 Billion by 2022.
The global market is projected to reach about USD 19.5 Billion by 2020, at a CAGR of 15.5% from 2015 to 2020.
The global market is projected to reach about USD 19.5 Billion by 2020, at a CAGR of 15.5% from 2015 to 2020.
The global dairy alternatives market is projected to reach about USD 19.5 Billion by 2020, at a CAGR of 15.5% from 2015 to 2020.