The North America dairy alternatives market is expected to grow from US$ 6,447.99 million in 2022 to US$ 11,230.14 million by 2028. It is estimated to grow at a CAGR of 9.7% from 2022 to 2028.
Lactose intolerance is defined as the reduced ability of the human body to digest lactose. The prevalence of lactose intolerance or malabsorption is high across the region due to a lack of genetic mutation for digesting lactose. People with lactose intolerance are recommended to have a lactose-free diet to avoid allergies and digestive problems such as diarrhea, abdominal bloating, and nausea. Moreover, people allergic to milk are also recommended to consume plant-based dairy products. Therefore, such people are searching for alternatives that are easy to digest and fulfill their daily nutritional needs. Dairy alternatives or dairy-free products are made from almond milk, soymilk, and coconut milk, free from lactose.
Moreover, plant-based dairy products have similar texture, creaminess, and consistency to conventional dairy products. Moreover, plant-based dairy products are fortified with nutrients, such as protein and calcium, that meet the daily nutrient requirements of consumers. Thus, the increasing prevalence of lactose intolerance and milk allergies among consumers is driving the regional dairy alternatives market.
Vendors can attract new customers and expand their footprints in emerging markets with new features and technologies. This factor is likely to drive the North America dairy alternatives market at a good CAGR during the forecast period.
North America Dairy Alternatives Market Revenue and Forecast to 2028 (US$ Million)
North America Dairy Alternatives Market Segmentation
The North America dairy 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.; Nestlé S.A.; Oatly Inc.; SunOpta; Valio Ltd; and Valsoia S.p.A. are among the leading companies in the North America dairy alternatives market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 6,447.99 Million |
| Market Size by 2028 | US$ 11,230.14 Million |
| CAGR (2022 - 2028) | 9.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Dairy Alternatives Market is valued at US$ 6,447.99 Million in 2022, it is projected to reach US$ 11,230.14 Million by 2028.
As per our report North America Dairy Alternatives Market, the market size is valued at US$ 6,447.99 Million in 2022, projecting it to reach US$ 11,230.14 Million by 2028. This translates to a CAGR of approximately 9.7% during the forecast period.
The North America 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 North America Dairy Alternatives Market report:
The North America Dairy Alternatives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Dairy Alternatives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Dairy Alternatives Market value chain can benefit from the information contained in a comprehensive market report.
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