The dairy alternatives market is experiencing a significant shift towards plant-based nutrition driven by health-conscious consumers, the rise of veganism and vegetarianism, environmental sustainability concerns, and ongoing innovation in product development. As the demand for dairy alternatives continues to rise, it presents a promising opportunity for businesses to cater to the evolving preferences of consumers and contribute to a more sustainable and inclusive food ecosystem.
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The dairy alternatives market is predicted to develop significantly in the next years, reaching $44.8 billion in 2027, up from $27.3 billion in 2022, with a 10.4% CAGR from 2022 to 2027.
Asia Pacific’s expansion might be due to rising demand for natural products with health advantages. The region’s demand for dairy substitutes is expanding due to changing consumer lifestyles and a preference for dairy-free food and beverage items. The presence of big economies such as China and India contributes to the region’s market growth. Soy protein components are mostly exported by Chinese enterprises to Europe and Southeast Asia. Rising consumer spending power as a result of China’s economic development has resulted in increased demand for high-quality dairy replacements.
Leading organizations outlined–>
- Danone North America Public Benefit Corporation (US)
- The Hain Celestial Group, Inc. (US)
- Blue Diamond Growers (US)
- SunOpta (Canada)
- Sanitarium (New Zealand)
- Freedom Foods Group Limited (Australia)
- Eden Foods, Inc. (US)
- Nutriops, S.L. (Spain)
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