Future Plant-based Dairy Market: Key Dynamics, Size & Share Analysis
The Global Plant-based Dairy Market size is estimated to grow at a CAGR of around 9.1% during the forecast period, i.e., 2024-30. The market growth is attributed to the rising lactose intolerance among individuals. Lactose intolerance affects a substantial portion of the global population across different regions & ethnic groups. The rising lactose intolerance among consumers has led them to avoid dairy products such as milk, cheese, curd, etc.
Top Market Challenges Impacting the Plant-based Dairy Market Growth
Allergies Associated with Plant-based Dairy Substitutes Impeding Market Growth – The plant-based dairy products are made from various sources such as soybean, coconut, walnuts, almonds, hazelnuts, hemp, cashews, and peas, among others. The allergic potential of these products depends on the type of plant-based ingredients used. Consumers across the globe are allergic to various products. Allergies to nuts, soybeans, etc., are the most common food allergies seen in individuals. For Instance, in 2022, according to the Food and Drug Administration (FDA), about 3% of people worldwide suffer from tree nuts allergies, including almonds, cashews, Brazil nuts, walnuts, and others.
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Understanding the Core Segments in the Plant-based Dairy Market
Plant-based Dairy Market Size, Share & Industry Trends Analysis- By Product Type (Plant-based Milk, Soy Drinks, Almond, Coconut, Oat, Rice, Others (Blends, etc.)], Plant-based Yoghurt, Plant-based Cheese, Others), By End Users (B2B [HoReCa, Snacks & Savoury, Bakery & Confectionary], Food Service [HoReCa], Retail Users), By Sales Channel (Supermarkets, Hypermarkets, Local Grocery Stores, Online, Others), By Ingredients (Plant-based Acidulants, Plant-based Botanicals, Plant-based Carotenoids, Vegetable Oils, Polysaccharides & Oligosaccharides, Plant-based Sweeteners, Other Commodities [Water, Cereals, Juices, etc.]), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Danone, Groupe, Hebei Yangyuan Zhihui Beverage Co Ltd, Cereal Base CEBA AB, Coconut Palm Group Co Ltd, Blue Diamond Growers, Vitasoy International Holdings Ltd, Wanxiang Sannong Co Ltd, The Coca-Cola Co., Fujian Dali Food Co Ltd, Kikkoman Corp, Lactasoy Co Ltd, Califia Farms LP, Green Spot Co Ltd, Dr Chung's Food Co Ltd, Marusanai Co Ltd, Others.
Geographical Analysis of the Plant-based Dairy Market
- Asia-Pacific
- North America
- South America
- Europe
- The Middle East & Africa
Who Dominates the Plant-based Dairy Market Insights on Key Industry Players?
Companies are strengthening their presence in the Plant-based Dairy market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.
- Danone, Groupe
- Hebei Yangyuan Zhihui Beverage Co Ltd
- Cereal Base CEBA AB
- Coconut Palm Group Co Ltd
- Blue Diamond Growers
- Vitasoy International Holdings Ltd
- Wanxiang Sannong Co Ltd
- The Coca-Cola Co.
- Fujian Dali Food Co Ltd
- Kikkoman Corp
- Lactasoy Co Ltd
- Califia Farms LP
- Green Spot Co Ltd
- Dr Chung's Food Co Ltd
- Marusanai Co Ltd
- Others
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