The dairy alternatives market is experiencing a significant shift towards plant-based nutrition driven by health-conscious consumers, the rise of veganism and vegetarianism, environmental sustainability concerns, and ongoing innovation in product development. As the demand for dairy alternatives continues to rise, it presents a promising opportunity for businesses to cater to the evolving preferences of consumers and contribute to a more sustainable and inclusive food ecosystem.

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The dairy alternatives market is predicted to develop significantly in the next years, reaching $44.8 billion in 2027, up from $27.3 billion in 2022, with a 10.4% CAGR from 2022 to 2027.

Asia Pacific’s expansion might be due to rising demand for natural products with health advantages. The region’s demand for dairy substitutes is expanding due to changing consumer lifestyles and a preference for dairy-free food and beverage items. The presence of big economies such as China and India contributes to the region’s market growth. Soy protein components are mostly exported by Chinese enterprises to Europe and Southeast Asia. Rising consumer spending power as a result of China’s economic development has resulted in increased demand for high-quality dairy replacements.

By source, the coconut segment is projected to grow at second highest CAGR in the dairy alternatives market during the forecast period

Based on source, the coconut segment is projected to account the largest market share in the dairy alternatives market. The grated white flesh of a ripe coconut is used to make coconut milk. To extract the high-fat coconut cream, the grated meat is first pressed, then soaked in hot water and filtered through cheesecloth in order to strain out the ‘milk”. This milk offers a creamy texture and a rich taste. Coconut milk is highly popular in Asian, South American, and Caribbean countries as an alternative to dairy.

Leading organizations outlined–>

• Danone North America Public Benefit Corporation (US)
• The Hain Celestial Group, Inc. (US)
• Blue Diamond Growers (US)
• SunOpta (Canada)
• Sanitarium (New Zealand)
• Freedom Foods Group Limited (Australia)
• Eden Foods, Inc. (US)
• Nutriops, S.L. (Spain)

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