Italy Dairy Alternatives Market Size & Outlook, 2022-2030
Italy dairy alternatives market, 2017-2030 (US$M)
Related Markets
Italy dairy alternatives market highlights
- The Italy dairy alternatives market generated a revenue of USD 400.4 million in 2022 and is expected to reach USD 868.8 million by 2030.
- The Italy market is expected to grow at a CAGR of 10.2% 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 400.4 million |
| Market revenue in 2030 | USD 868.8 million |
| Growth rate | 10.2% (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, Italy accounted for 1.5% 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 Europe, Germany dairy alternatives market is projected to lead the regional market in terms of revenue in 2030.
- Spain is the fastest growing regional market in Europe and is projected to reach USD 2,037.3 million by 2030.
Soy was the largest segment with a revenue share of 37.59% in 2022. Horizon Databook has segmented the Italy dairy alternatives market based on soy, almond, coconut, rice, oats covering the revenue growth of each sub-segment from 2017 to 2030.
According to ProVeg’s report on the environmental cost of dairy compared to plant-based alternatives, the VAT on alternative milk beverages is significantly higher than conventional milk in six countries across Europe including Italy, Greece, Austria, Slovakia, Spain, and Germany. In Italy, soymilk has a VAT rate of 450% higher than cow milk which has restricted the growth of plant-based beverages in the recent past.
However, initiatives taken by non-profit organizations along with the ProVeg international’s initiative on ending unfair VAT on dairy alternatives are expected to boost the market growth over the forecast period. Growing demand for lactose-free and gluten-free products is anticipated to drive the dairy alternatives market growth over the forecast period. Increasing demand for dairy-free beverages in the region is expected to drive the market growth over the forecast period.
Manufacturers like Dr Schär, Parmalat, and Granarolo offer lactose-free and gluten-free products to attract lactose-intolerant consumers in the region. Growing occurrence of milk allergies among Italian consumers is expected to drive demand for dairy alternative products over the forecast period.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Dairy Alternatives Market Scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Italy dairy alternatives market size, by source, 2017-2030 (US$M)
Italy Dairy Alternatives Market Outlook Share, 2022 & 2030 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
