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.
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
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Increased disposable income, frequent change in lifestyle, and eating habits is expected to drive the market in the coming years.
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Growing number of health conscious consumers are estimated to propel the market during the forecast period.
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Increasing awareness towards health benefits of organic milk is anticipated to boost the market during the projected period.
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Allergies associated with dairy products and rising environmental concerns is expected to fuel the market in the coming years.
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Increasing demand of dairy alternative for prevention from diseases and avail health benefits is estimated to propel the market.
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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.
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Attributes
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Details
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Report Title
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Dairy Alternative Protein Market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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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)
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Geographical Scope
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United States, Canada, Mexico, Rest of North America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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SunOpta Inc.; Blue Diamond Growers; Earth’s Own Food Company; Dean Food Company; Groupe DANONE.
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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.
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
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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.
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In July 2021, Groupe DANONE plans to offer a new plant based milk alternative with improved taste and texture.
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