Growing dairy alternatives market driven by veganism and lactose intolerance, expected to reach US$70.60 billion by 2031.

From GlobeNewswire: 2025-02-04 09:33:00

The dairy alternatives market is experiencing substantial growth due to the increasing trend of veganism and lactose intolerance. The market is expected to reach US$70.60 billion by 2031, with a CAGR of 10.8%. Consumers are opting for plant-based products for health and environmental reasons, driving market expansion.

Lactose intolerance affects 68% of the global population, with higher prevalence in Asia Pacific and Africa. In East Asia, 75-95% of adults are lactose intolerant. This demographic, along with 6.1 million Americans with milk allergies, are driving the demand for dairy alternatives for easier digestion and nutritional needs.

Dairy alternative manufacturers are innovating products to cater to consumer preferences for healthier options. Brands like Hasla Foods are introducing zero-sugar oat milk yogurt, while Take Two Foods offers barley milk enriched with nutrients. These innovations aim to capture the growing market demand for plant-based dairy alternatives.

Asia Pacific led the dairy alternatives market in 2023, with significant revenue shares in North America and Europe. This region is expected to maintain the highest CAGR in the market, highlighting the global shift towards plant-based dairy products.

Key players in the dairy alternatives market include SunOpta, Blue Diamond Growers, and Nestle. Trending topics in the industry include plant-based dairy innovations and sustainability efforts. The market is evolving rapidly to meet consumer demands for healthier and environmentally friendly dairy alternatives.



Read more at GlobeNewswire: Dairy Alternatives Market Size is Expected to Reach US$