Dairy Alternatives Market Size is projected to grow USD 91.15 billion by 2032, exhibiting a CAGR of 13.85%

Key companies covered in the dairy alternatives market report are Archer-Daniels-Midland Company, Blue Diamond Growers, Daiya Food Inc., and Others.

NEW YORK, NY, UNITED STATES, March 25, 2025 /EINPresswire.com/ -- The global dairy alternatives market was valued at USD 32.38 billion in 2024 and is projected to expand at a CAGR of 13.85%, reaching approximately USD 91.15 billion by 2032. In 2025, the market is expected to grow to USD 36.76 billion. Asia Pacific led the market in 2024, holding a 52.63% share of the global dairy alternatives industry.

Rise in the plant-based food substitutes has led to the demand for non-dairy products or dairy alternatives. Such alternative products are made from essentially legumes, nuts, or cereals. As per the report, the market is projected to grow during the projected period due to increasing veganism and rising inclination of consumers toward plant-based foods. Fortune Business Insights™ publishes this information in a report titled, "Dairy Alternatives Market, 2025-2032".

The growing demand for non-dairy products and dairy alternatives is largely driven by the rise of plant-based milk substitutes. Vegan milk is created by suspending dissolved and disintegrated plant extracts in a water-based solution. To enhance the stability and consistency of these plant-derived products, processing techniques such as homogenization and thermal treatments are commonly used.

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➡️ List of Key Players Profiled in the Market:
• Danone S.A. (France)
• Archer-Daniels-Midland Company (U.S.)
• Blue Diamond Growers (U.S.)
• SunOpta, Inc. (Canada)
• Vitasoy International Holdings Ltd (Hong Kong)
• Daiya Food, Inc. (Canada)
• Goya Foods, Inc. (U.S.)
• Living Harvest Foods, Inc. (India)
• Organic Valley (U.S.)
• Eden Foods, Inc. (U.S.)

➡️ Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/dairy-alternatives-market-100221

➡️ Segments:

Soy Segment to Lead the Market Due to High Availability
By source, the market is categorized into soy, almond, coconut, rice, oats, and others. The soy segment is anticipated to hold a dominating market position during the forecast period owing to increasing availability and rising demand for soy milk.

Non-dairy Milk Segment to Dominate Owing to Increasing Demand
Based on product type, the market is segregated into non-dairy milk, butter, cheeses, yogurts, ice cream, and others. The non-dairy milk segment is anticipated to lead the market share due to increasing demand from the vegan population.

Supermarket/Hypermarkets to Hold Highest Share Due to Their Affordability
On the basis of distribution channel, the market is divided into supermarkets/hypermarkets, convenience stores, online retail, and others. The supermarkets/hypermarkets segment is expected to dominate the market owing to its accessibility, affordability, and proximity.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

➡️ Report Coverage:

The report sheds light on qualitative and quantitative analysis of recent trends and current market conditions. Also, the developments and advancements in the industry are highlighted further in this report along with the drivers and restraints affecting the market growth during the forecast period. The impact of COVID-19 pandemic on market growth and expansion is given further in the report. Regional insights on segmented market areas are given with a list of leading market players in the industry.

➡️ Drivers & Restraints:

Increasing Veganism and Inclination Towards Plant-Based Foods to Bolster Market Growth
Plant-based food products and veganism is expected to offer market with opportunities for growth. Recent surge in demand for dairy alternatives and robust popularity of plant-based ingredients along with rising adoption rates for meat and dairy substitutes is anticipated to drive market development. Furthermore, water and carbon footprint of milk and dairy commodities is significantly higher than that of horticultural products.
However, low consumer awareness and sub-optimal market penetration may hamper market growth.

➡️ Regional Insights:
Asia Pacific Dominates Global Market Share Due to Rising Cases of Lactose Intolerance

Asia Pacific held a dominating part in the global dairy alternatives market share owing to rising cases of cow milk allergy and lactose intolerance among the population. Calorie concerns and higher prevalence of hypercholesterolemia and obesity are the major reasons for regional market growth.
North America is anticipated to hold the second-leading position due to the increasing demand for plant-based food products and surging veganism. Also, consumers intend to adopt a highly nutritional diet and develop their immunity.
Growth in South America is influenced by the rising shifts toward reduction in the consumption of animal-based products due to improving health, animal, and environmental welfare concerns.

➡️ Report Scope & Segmentation:
Market Size Value in 2025: USD 36.76 billion
Market Size Value in 2032: USD 91.15 billion
Growth Rate: CAGR of 13.85% (2025-2032)
Base Year: 2024
Historical Data: 2019-2023
Years Considered for the Study: 2019-2032
No. of Report Pages: 185

Segments Covered: By Source (Soy, Almond, Coconut, Rice, Oats, and Others), By Product Type (Non-dairy Milk, Butter, Cheeses, Yogurts, Ice Cream, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others)
Regional Scope: North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

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➡️ Competitive Landscape:

New Product Launch Allow Companies to Improve their Business Performance
The leading companies focus on introducing products to attract customers and enhance their product portfolio. Rising adoption of the latest technologies and integration of emerging consumer demand allow companies to build their business performance. Key market players have also been trying to create more products. For instance, Danone S.A. acquired several leading plant-based brands recently to strengthen its vegan products portfolio. Products includes Silk, Vega, and Alpro.

➡️ Key Industry Development:
February 2024 – Califia Farms, an American plant-based milk company, launched a creamy plant-based milk made from a blend of pea, chickpea, and fava bean protein that consists of nine essential nutrients and essential amino acids.

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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
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