The APAC dairy alternatives market is expected to grow from US$ 14,443.15 million in 2022 to US$ 26,938.91 million by 2028. It is estimated to grow at a CAGR of 10.9% from 2022 to 2028.
Nowadays, consumers are increasingly seeking functional benefits from the products they consume. They are looking for products with high nutrient content to fulfill their daily nutritional requirements. Consumers are rapidly switching to plant-based food. However, some consumers are concerned about plant-based foods' lack of protein content. Manufacturers of dairy alternatives are developing products to meet the requirements of potential consumers.
Further, manufacturers of dairy alternatives include functional ingredients, such as antioxidants, collagens, adaptogens, and nootropics, to meet the rising demand for functional dairy alternatives. A manufacturer of plant-based lattes launched a new line of functional oat milk lattes with added ingredients, such as collagen, adaptogen, and antioxidants. The oats milk latte is cold brew and is certified organic.
Adding functional ingredients enhances the popularity of the products and boosts their adoption among consumers. Thus, the surging demand for functional dairy alternatives is expected to drive the growth of the dairy alternatives market over the forecast period across the region.
Vendors can attract new customers and expand their footprints in emerging markets with new features and technologies. This factor is likely to drive the APAC dairy alternatives market at a promising CAGR during the forecast period.
APAC Dairy Alternatives Market Revenue and Forecast to 2028 (US$ Million)
APAC Dairy Alternatives Market Segmentation
The APAC alternatives market is segmented based on source, product type, distribution channel, and country. Based on product type, the market is segmented into milk, ice cream, yogurt, cheese, and others. The milk segment dominated the market in 2022.
Blue Diamond Growers; Califia Farms, LLC; Danone S.A.; Lactasoy co.; Nestlé S.A.; Oatly Inc.; Sanitarium; Valio Ltd; and Valsoia S.p.A. are the leading companies in the APAC dairy alternatives market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 14,443.15 Million |
| Market Size by 2028 | US$ 26,938.91 Million |
| CAGR (2022 - 2028) | 10.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia-Pacific Dairy Alternatives Market is valued at US$ 14,443.15 Million in 2022, it is projected to reach US$ 26,938.91 Million by 2028.
As per our report Asia-Pacific Dairy Alternatives Market, the market size is valued at US$ 14,443.15 Million in 2022, projecting it to reach US$ 26,938.91 Million by 2028. This translates to a CAGR of approximately 10.9% during the forecast period.
The Asia-Pacific Dairy Alternatives Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Dairy Alternatives Market report:
The Asia-Pacific Dairy Alternatives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Dairy Alternatives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Dairy Alternatives Market value chain can benefit from the information contained in a comprehensive market report.
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