Global Dairy Alternatives Market Size & Outlook, 2022-2030
The dairy alternatives industry worldwide is expected to reach a projected revenue of US$ 66,907.0 million by 2030. A compound annual growth rate of 12.5% is expected of the worldwide dairy alternatives industry from 2023 to 2030.
Revenue, 2022 (US$M)
$26,007.6
Forecast, 2030 (US$M)
$66,907.0
CAGR, 2023 - 2030
12.5%
Report Coverage
Worldwide
Global dairy alternatives market, 2017-2030 (US$M)
Related Markets
Global dairy alternatives market highlights
- The global dairy alternatives market generated a revenue of USD 26,007.6 million in 2022 and is expected to reach USD 66,907.0 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 12.5% by 2030.
- In terms of segment, soy accounted for a revenue of USD 9,182.4 million in 2022.
- Almond is the most lucrative source segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2022.
- Country-wise, Italy is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 26,007.6 million |
| Market revenue in 2030 | USD 66,907.0 million |
| Growth rate | 12.5% (CAGR from 2022 to 2030) |
| Largest segment | Soy |
| Fastest growing segment | Almond |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Soy, Almond, Coconut, Rice, Oats |
Other key industry trends
- In terms of revenue, the North America accounted for 26.7% of the global dairy alternatives market in 2022.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Italy is the fastest growing regional market and is projected to reach USD 868.8 million by 2030.
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Dairy Alternatives Market Scope
Dairy alternatives market segmentation & scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global dairy alternatives market size, by regions, 2017-2030 (US$M)
Top 10 countries: Dairy alternatives market size, 2022 (US$M)
Global dairy alternatives market share, by source, 2022 & 2030 (%, US$M)
Dairy alternatives market: Opportunity assessment by country
Global dairy alternatives market, by region, 2022 (US$M)
| Source | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 3,932.6 | 4,369.7 | 4,866.2 | 5,513.2 | 6,213.1 | 6,933.6 | 7,744.5 | 8,657.8 | 9,687.1 | 10,848.3 | 12,159.2 | 13,640.3 | 15,308.3 | 17,195.1 | 12.0% |
| Europe | 2,899.7 | 3,204.0 | 3,547.9 | 3,996.5 | 4,477.7 | 4,967.4 | 5,515.1 | 6,127.9 | 6,814.1 | 7,583.0 | 8,445.2 | 9,412.6 | 10,494.1 | 11,708.7 | 11.3% |
| Asia Pacific | 6,304.2 | 7,084.3 | 7,978.3 | 9,140.8 | 10,416.9 | 11,755.4 | 13,277.1 | 15,008.5 | 16,980.1 | 19,226.9 | 21,789.5 | 24,714.5 | 28,043.5 | 31,847.7 | 13.3% |
| Latin America | 832.4 | 930.6 | 1,042.8 | 1,188.7 | 1,347.9 | 1,513.7 | 1,701.2 | 1,913.8 | 2,154.8 | 2,428.2 | 2,738.9 | 3,091.9 | 3,492.1 | 3,947.5 | 12.7% |
| MEA | 457.3 | 512.0 | 574.5 | 655.8 | 744.7 | 837.5 | 942.5 | 1,061.7 | 1,197.1 | 1,350.9 | 1,525.7 | 1,724.8 | 1,950.6 | 2,207.9 | 12.9% |
| Overall | 14,426.2 | 16,100.6 | 18,009.7 | 20,495.0 | 23,200.3 | 26,007.6 | 29,180.5 | 32,769.7 | 36,833.2 | 41,437.3 | 46,658.4 | 52,584.0 | 59,288.5 | 66,907.0 | 12.5% |
Related regional statistics
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