Europe Dairy Alternatives Market Size & Outlook, 2022-2030
Europe dairy alternatives market, 2017-2030 (US$M)
Related Markets
Europe dairy alternatives market highlights
- The Europe dairy alternatives market generated a revenue of USD 4,967.4 million in 2022.
- The market is expected to grow at a CAGR of 11.3% 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.
- Country-wise, Spain is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 4,967.4 million |
| Market revenue in 2030 | USD 11,708.7 million |
| Growth rate | 11.3% (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 |
| 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, Europe region accounted for 19.1% of the global dairy alternatives market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 31,847.7 million by 2030.
Soy was the largest segment with a revenue share of 37.01% in 2022. Horizon Databook has segmented the Europe dairy alternatives market based on soy, almond, coconut, rice, oats covering the revenue growth of each sub-segment from 2017 to 2030.
Growing demand for plant-based products with high nutritional value is expected to drive the dairy alternatives market growth over the forecast period. Increasing number of milk allergies and health related issues associated with harmful additives used additionally in dairy products is expected to augment the demand for dairy alternative products such as soymilk, almond milk, and rice milk among others.
The Europe dairy alternatives market is expected to increase owing to the rising demand for healthy foods & beverages in the region. Dairy alternative-based beverages are often consumed as alternatives to dairy beverages. Manufacturers are focusing on new product development, which includes soya juice mixes and fresh soya drinks.
Almond milk is expected to witness the highest growth rate over the coming years. This is so because organic claims made by the key players such as Earth’s Own Food Company and Blue Diamond Growers is likely to increase the market value of dairy alternative products in this region.
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Dairy Alternatives Market Scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe dairy alternatives market size, by country, 2017-2030 (US$M)
Europe Dairy Alternatives Market Outlook Share, 2022 & 2030 (US$M)
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