Dairy Alternative Market Share, Opportunities, Industry 2031

Segments - North America Dairy Alternative Market by Product Types (Food [Frozen Desserts, Yogurts, Other Foods], Beverages [Almond Milk, Soy Milk, Rice Milk, Coconut Milk, Other Beverages]), Distribution Channels (Online Retail Channels, Convenience Stores, Hypermarket/Supermarket, Other Distribution Channels), Geography (United States, Mexico, Canada)- Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Anuradha B. More

Fact-checked by : Vaibhav Chandola

Editor : Shruti Bhat

Report Description

The North America dairy alternative market was USD 9.20 Billion in 2022 and is likely to reach USD 19.49 Billion by 2031, expanding at a CAGR of 8.7% during 2023–2031. The growth of market is attributed to allergies associated with dairy products, awareness towards organic milk, rising number of health concerns among consumers, and increasing disposable income.

Recently the demand for the non-dairy products and plant based milk surged exponentially. Vegan milk is plant extract in water as a base and to improve the stability and suspension of such plant based product, techniques such as thermal and homogenization treatment are used.

North America Dairy Alternative Market Outlook

Vegan milk has extensively gained its popularity in the non-dairy segment and is considered intensively healthy, sustainable, and animal friendly dairy alternative. The sources of extraction of such products are nuts, legumes, and cereals which is acknowledged as ingredients by the consumers of both the developed and developing nations.

The improvement of dietary lifestyle, such as flexitarians and shifting towards veganism are some of the factors that fuel the demand for plant milk and products associated with it.

Furthermore growing concern over the use of pesticides and antibiotics are the driving the demand. Dairy alternative have possess a safer option compared to dairy products as they are extracted naturally from the source and in a traditional way.

Market Trends, Drivers, Restraints, and Opportunities

Increased disposable income, frequent change in lifestyle, and eating habits is expected to drive the market in the coming years.
Growing number of health conscious consumers are estimated to propel the market during the forecast period.
Increasing awareness towards health benefits of organic milk is anticipated to boost the market during the projected period.
Allergies associated with dairy products and rising environmental concerns is expected to fuel the market in the coming years.
Increasing demand of dairy alternative for prevention from diseases and avail health benefits is estimated to propel the market.
Growing number of consumers looking to cut down calories and lose weight is anticipated to surge the market during the projected period.

Scope of North America Dairy Alternative Market

The report on the North America dairy alternative market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Dairy Alternative Protein Market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Product Types (Food [Frozen Desserts, Yogurts, Other Foods], Beverages [Almond Milk, Soy Milk, Rice Milk, Coconut Milk, Other Beverages]), Distribution Channels (Online Retail Channels, Convenience Stores, Hypermarket/Supermarket, Other Distribution Channels)
Geographical Scope	United States, Canada, Mexico, Rest of North America
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	SunOpta Inc.; Blue Diamond Growers; Earth’s Own Food Company; Dean Food Company; Groupe DANONE.

Market Segment Insights

The beverages segment is expected to exhibit high CAGR

Based on the product types, the market is segregated into food and beverages. The food segment is further segregated into frozen desserts, yogurts, and others. The beverages segment is sub-segregated into almond milk, soy milk, rice milk, coconut milk, and others.

The beverages segment is expected to exhibit high CAGR during the forecast period owing to milk related allergies, lactose intolerance, and veganism also rising awareness among the consumers’ about health benefits that the organic milk offers.

The supermarket/hypermarket segment is expected to hold a large share of the market

On the basis of the distribution channels, the market is fragmented into online retail channels, convenience stores, hypermarket/supermarket, and others. The supermarket/hypermarket segment is expected to hold a large share of the market due to growing number of supermarket and hypermarket boosting the sale of the product along with ascending the dairy alternative segment.

On the other hand, the online retail segment is expected to rise at a rapid pace owing to drastic increase of the e-commerce facilities, types of product availability, and on-time services.

North America Dairy Alternative Market Distribution Channels

The United States is estimated to dominate the market

In the term of the regions, the market is classified as United States, Canada, Mexico, and Rest of North America. The United States is estimated to dominate the market during the forecast period due to dairy sensitivity, lactose intolerance, and allergy and increasing consumer demand for naturally sweetened soy flavored milk and soy based products within the region.

Segments

North America dairy alternative drink market has been segmented on the basis of

Product Types

Food
- Frozen Desserts
- Yogurts
- Others
Beverages
- Almond Milk
- Soy Milk
- Rice Milk
- Coconut Milk
- Others

Distribution Channels

Online Retail Channels
Convenience Stores
Hypermarket/Supermarket
Others

Regions

United States
Canada
Mexico
Rest of North America

Key Players

SunOpta Inc.
Blue Diamond Growers
Earth’s Own Food Company
Dean Food Company
Groupe DANONE

Competitive Landscape

Key players competing in North America dairy alternative market include SunOpta Inc.; Blue Diamond Growers; Earth’s Own Food Company; Dean Food Company; Groupe DANONE.

Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance

In February 2021, Groupe DANONE announced that they have entered into an purchase agreement with Earth Island the maker of follow your heart brand the pioneers in plant based food to acquire 100% share.
In July 2021, Groupe DANONE plans to offer a new plant based milk alternative with improved taste and texture.

North America Dairy Alternative Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Dairy Alternative Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Dairy Alternative Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Dairy Alternative Market - Supply Chain
  4.5. Global Dairy Alternative Market Forecast
     4.5.1. Dairy Alternative Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Dairy Alternative Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Dairy Alternative Market Absolute $ Opportunity
5. Global Dairy Alternative Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Dairy Alternative Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Dairy Alternative Demand Share Forecast, 2019-2026
6. North America Dairy Alternative Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Dairy Alternative Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Dairy Alternative Demand Share Forecast, 2019-2026
7. Latin America Dairy Alternative Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Dairy Alternative Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Dairy Alternative Demand Share Forecast, 2019-2026
8. Europe Dairy Alternative Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Dairy Alternative Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Dairy Alternative Demand Share Forecast, 2019-2026
9. Asia Pacific Dairy Alternative Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Dairy Alternative Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Dairy Alternative Demand Share Forecast, 2019-2026
10. Middle East & Africa Dairy Alternative Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Dairy Alternative Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Dairy Alternative Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Dairy Alternative Market: Market Share Analysis
  11.2. Dairy Alternative Distributors and Customers
  11.3. Dairy Alternative Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. SunOpta Inc. Blue Diamond Growers Earth’s Own Food Company Dean Food Company Groupe DANONE