Japan Dairy Alternatives Market Size & Outlook, 2022-2030
Japan dairy alternatives market, 2017-2030 (US$M)
Related Markets
Japan dairy alternatives market highlights
- The Japan dairy alternatives market generated a revenue of USD 1,557.6 million in 2022 and is expected to reach USD 3,837.7 million by 2030.
- The Japan market is expected to grow at a CAGR of 11.9% 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 1,557.6 million |
| Market revenue in 2030 | USD 3,837.7 million |
| Growth rate | 11.9% (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, Japan accounted for 6.0% 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 Asia Pacific, China dairy alternatives market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,054.2 million by 2030.
Soy was the largest segment with a revenue share of 37.18% in 2022. Horizon Databook has segmented the Japan dairy alternatives market based on soy, almond, coconut, rice, oats covering the revenue growth of each sub-segment from 2017 to 2030.
The rising prevalence of lactose intolerance in Japan coupled with the increasing risk of osteoporosis associated with ageing population is expected to raise the demand for plant-based milk in the country in the coming years. As per the statistical data released by the World Bank, percentage of aged population in Japan rose from 27% in 2017 to 29% in 2019, which indicates a high probability of the Japanese population suffering from osteoporosis.
Growing consumer awareness regarding the need to reduce animal cruelty and rising awareness regarding the need for high protein intake among the health-conscious Japanese consumers should escalate the demand for plant-based dairy products, thus propelling market growth in the country in the coming years Soy is a widely preferred as an ingredient for manufacturing dairy alternatives in Japan over the past few years.
This is mainly attributed to health benefits of soy such as reduced risk of heart diseases, cancer and ability to improve bone health, among others. Moreover, the implementation of the FOSHU (Foods for Specified Health Use) certification in Japan which approves the use of the basic components of soy milk including soy proteins and isoflavones is likely to encourage dairy alternative manufacturers to opt for soy as an ingredient in manufacturing dairy alternative products, thus fostering market growth.
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Dairy Alternatives Market Scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan dairy alternatives market size, by source, 2017-2030 (US$M)
Japan Dairy Alternatives Market Outlook Share, 2022 & 2030 (US$M)
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