Argentina Dairy Alternatives Market Size & Outlook
Argentina dairy alternatives market, 2017-2030 (US$M)
Related Markets
Argentina dairy alternatives market highlights
- The Argentina dairy alternatives market generated a revenue of USD 257.3 million in 2022 and is expected to reach USD 576.4 million by 2030.
- The Argentina market is expected to grow at a CAGR of 10.6% from 2023 to 2030.
- In terms of segment, soy was the largest revenue generating source in 2022.
- Almond is the most lucrative source segment registering the fastest growth during the forecast period.
Dairy alternatives market data book summary
| Market revenue in 2022 | USD 257.3 million |
| Market revenue in 2030 | USD 576.4 million |
| Growth rate | 10.6% (CAGR from 2022 to 2030) |
| Largest segment | Soy |
| Fastest growing segment | Almond |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Soy, Almond, Coconut, Rice, Oats |
| Key market players worldwide | Archer-Daniels Midland Co, Danone SA, The Hain Celestial Group Inc, Otsuka Pharmaceutical, SunOpta Inc, Oatly Group AB ADR, Blue Diamond Growers, CP Kelco, Vitasoy International Holdings Ltd, Eden Foods, Earth's Own, Freedom Foods Group, Organic Valley, Living Harvest Foods |
Other key industry trends
- In terms of revenue, Argentina accounted for 1.0% of the global dairy alternatives market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil dairy alternatives market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 2,040.9 million by 2030.
Soy was the largest segment with a revenue share of 36.11% in 2022. Horizon Databook has segmented the Argentina dairy alternatives market based on soy, almond, coconut, rice, oats covering the revenue growth of each sub-segment from 2017 to 2030.
Increasing proportion of the population of Argentina with lactose intolerance coupled with growing consumer awareness regarding the need for high level of protein intake is expected to raise the demand for different types of dairy alternative products in the country over the forecast period.
Moreover, increasing health consciousness and rising demand for foods incorporating natural ingredients is expected to raise the demand for plant-based milk in the country in the coming years, thus driving market growth. Soy has been conventionally used for manufacturing dairy alternative products since the past few years owing to the numerous health benefits offered by soy.
However, increasing issues pertaining to sustainability associated with soy production coupled with concerns such as reduced absorption of soy in intestine of the body resulting in undesirable effects on the gut health of people is expected to offer novel opportunities for the use of alternatives to soy in different dairy alternative products in the country in the coming years.
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Dairy Alternatives Market Scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina dairy alternatives market size, by source, 2017-2030 (US$M)
Argentina Dairy Alternatives Market Outlook Share, 2022 & 2030 (US$M)
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