Brazil Dairy Alternatives Market Size & Outlook, 2022-2030
Brazil dairy alternatives market, 2017-2030 (US$M)
Related Markets
Brazil dairy alternatives market highlights
- The Brazil dairy alternatives market generated a revenue of USD 792.2 million in 2022 and is expected to reach USD 2,040.9 million by 2030.
- The Brazil market is expected to grow at a CAGR of 12.6% 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 792.2 million |
| Market revenue in 2030 | USD 2,040.9 million |
| Growth rate | 12.6% (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, Brazil accounted for 3.0% 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 37.91% in 2022. Horizon Databook has segmented the Brazil dairy alternatives market based on soy, almond, coconut, rice, oats covering the revenue growth of each sub-segment from 2017 to 2030.
Increasing rate of lactose intolerance among the population of Latin America is expected to raise the demand for dairy alterative products in the region. Moreover, increasing need for protein among the health-conscious population of the country should further boost sales of dairy alternative products, thus fostering market growth over the forecast period.
The rising consumer preference for soy-based dairy alternative products is mainly attributed to its beneficial properties such as rich in proteins, folate, calcium, iron, manganese and potassium, and low content of saturated fat.
However, increasing concerns pertaining to damage to the environment caused due to deforestation, soil erosion and increased greenhouse gas emissions is expected to encourage dairy alternative product manufacturers to opt for alternative sources of protein to manufacture their products.
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Dairy Alternatives Market Scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil dairy alternatives market size, by source, 2017-2030 (US$M)
Brazil Dairy Alternatives Market Outlook Share, 2022 & 2030 (US$M)
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