Dairy Alternatives Market Size, Share, Growth Analysis, By Source(Soy, Almond, Coconut, Rice), By Application(Milk, Ice cream, Yogurt, Cheese), By Formulation(Flavored and Plain), By Distribution Channel(Retail (Supermarkets & Hypermarkets, Health Food Stores, Pharmacies, Convenience Stores), By Nutrient(Protein, Starch, Vitamins, Others), By Region - Industry Forecast 2024-2031

Dairy Alternatives Market Drivers

Growing Adverse Reactions to Processed Dairy Products to Drive Market Expansion

• Lactose intolerant consumers are the main market drivers for dairy substitutes. Additionally, the general public is beginning to believe that lactose-free alternatives to traditional dairy are healthier. Lack of the lactase enzyme, which breaks down lactose, is the cause of lactose intolerance. After infancy, the capacity of over 65% of people to digest lactose decreases.

Product Innovation and Wider Reach to Ensure Market Success as in Likely Future

• As veganism becomes more and more popular, it is anticipated that plant milk and milk products will outperform their traditional dairy equivalents in terms of market share and growth rates in the years to come. The popularity of flexitarian, vegetarian, and vegan diets will likely increase demand for plant-based dairy alternatives. This pattern, along with the ongoing concerns about human health, animal welfare, and the environment, could limit the dairy industry's ability to generate money. Value-added goods that meet consumers' aesthetic and nutritional needs are essential to the trajectory of sustainable product growth.

Dairy Alternatives Market Restraints

Low Consumer Awareness and Substandard Market Penetration Leads to Lower Sales

• The organoleptic profiles of such innovative goods are one of the major barriers to the market for plant-based milk and milk products. When creating non-dairy goods, processors frequently run into problems with solubility and flavor. Because these dairy-free items have much lower rates of repeat purchases than traditional dairy goods, their sensory profiles are still not on par with those of dairy milk and its derivatives. Additionally, certain plant-based milks and their derivatives contain relatively little in the way of macro- and micronutrients. As a result, they are nutritionally superior to conventional dairy products.