Europe Dairy Alternatives Market Outlook 2031:
The Europe dairy alternatives market size was valued at USD 7.12 Billion in 2022 and is projected to reach USD 24.74 Billion by 2031, expanding at a CAGR of 14.84% during the forecast period 2023 - 2031. The growth of the market is attributed to rising incidences of lactose intolerance, more consumer health consciousness, and changing lifestyles appear to be driving development in the worldwide dairy alternatives market.
Alternative milk has grown in popularity and customer choice in recent years, with oat, almond, and coconut as the most popular components. For many people across the world, brands like Alpro, Oatly, and Mighty Pea have become household names.
Dairy alternatives have more nutritional advantages than traditional dairy products such as milk, butter, and cheese, prompting more customers to switch to dairy alternatives. According to research published in the Food and Nutrition Research Journal, contrary to common assumption, greater milk consumption does not enhance bone density in adults.
Dairy substitutes have less calories than low-fat milk. Furthermore, the calcium and potassium content of these dairy substitutes is higher than that of milk, which is the primary reason for dairy product intake. Dairy substitute producers have used the research findings to improve their marketing efforts in order to increase sales.
The increased awareness among the general public to be healthy and in shape, as well as improving body immunity throughout the world, has resulted in a significant increase in protein demand in urban areas, driving the protein supplement market.
The growing popularity of vegan, vegetarian, and flexitarian diets is propelling sales in the United Kingdom. Vegan and vegetarian customers frequently mention animal compassion as a primary motivator. Consumer research, on the other hand, suggests that those who aren't completely vegetarian/vegan but eat a more "flexitarian" diet have strong motives to reduce their environmental impact and promote sustainability.
Increased demand for protein sports drinks, specialty nutritional beverages, nutritious snack bars, and other things has resulted from the rise in the number of muscle and fitness enthusiasts.
The EU is on track to reach its aim of boosting plant-based food consumption. Amendment 171 was accepted by the European Parliament by a majority vote in October 2020 and entered scenario analysis discussions in late January 2021. The EU removed Amendment 171 on May 25, 2021, enabling plant-free dairy firms to use adjectives like "buttery" or "creamy" to advertise their goods.
Dairy Alternatives Market Trends, Drivers, Restraints, and Opportunities
Scope of the Dairy Alternatives Market Report
The report on the Europe dairy alternatives 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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Europe Dairy Alternatives Market - Global 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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Distribution Channels (Online Retail, Supermarkets/Hypermarkets, Convenience Stores, and Others), Types (Foods [Yogurt, Frozen Desserts, and Others], and Beverages [Soy Milk, Almond Milk, Coconut Milk, Rice Milk, and Others])
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Regional Scope
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Europe
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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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Danone SA; Braham & Murray; Blue Diamond Growers; Oatly AB; Daiya Foods Inc
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Europe Dairy Alternatives Market Segment Insights
The online retail segment is projected to constitute a key market share
Based on distribution channels, the Europe dairy alternatives market is divided into online retail, supermarkets/hypermarkets, convenience stores, and others.
The online retail segment is expected to account for a key share of the market during the forecast period owing to rising presence of online sellers also amid to spread of corona virus large number of consumers shifting towards online delivery services.
The almond milk segment is expected to expand at a rapid pace
In terms of types, the Europe dairy alternatives market is segmented into foods, and beverages. The beverage segment is further divide into soy milk, almond milk, coconut milk, rice milk, and others.
The almond milk segment is expected to hold a key share of the market in the coming years due to veganism and the ketogenic diet are becoming increasingly popular among young people. Almond milk is a nutritious dairy substitute with high lipids, protein, and fiber content that is expected to rise in popularity in the near future. Almond milk also aids in blood pressure regulation and has heart and skin health benefits.
Segments
The Europe dairy alternatives market has been segmented on the basis of
Distribution Channels
- Online Retail
- Supermarkets/Hypermarkets
- Convenience Stores
- Others
Types
- Foods
- Yogurt
- Frozen Desserts
- Others
- Beverages
- Soy Milk
- Almond Milk
- Coconut Milk
- Rice Milk
- Others
Key Players
Competitive Landscape
Key players competing in the Europe dairy alternatives market include Danone SA; Braham & Murray; Blue Diamond Growers; Oatly AB; Daiya Foods Inc.
Some of these players are coming up with several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. for instance,
In 2021 Oatly submitted an application to be listed on the Nasdaq under the ticker symbol "OTLY." When the terms of the company's first public offering were set, its potential worth was projected to be more than $10 billion.
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