Mexico Dairy Alternatives Market Size & Outlook, 2022-2030
Mexico dairy alternatives market, 2017-2030 (US$M)
Related Markets
Mexico dairy alternatives market highlights
- The Mexico dairy alternatives market generated a revenue of USD 447.2 million in 2022 and is expected to reach USD 1,246.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 13.7% from 2023 to 2030.
- In terms of segment, almond 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 447.2 million |
| Market revenue in 2030 | USD 1,246.7 million |
| Growth rate | 13.7% (CAGR from 2022 to 2030) |
| Largest segment | Almond |
| 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, Mexico accounted for 1.7% 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 North America, U.S. dairy alternatives market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 1,246.7 million by 2030.
Almond was the largest segment with a revenue share of 37.75% in 2022. Horizon Databook has segmented the Mexico dairy alternatives market based on soy, almond, coconut, rice, oats covering the revenue growth of each sub-segment from 2017 to 2030.
Rising consumer demand for soy-based beverages in the region is expected to drive the dairy alternatives market in Mexico over the forecast period. Factors such as low-fat content, zero cholesterol, and increasing number of lactose intolerance cases are projected to drive the demand for soymilk in this region.
Manufacturers such as Unilever, Herdez, Del Valle, Jumex, and Sonrisa are offering soy fruit concoctions to attract the lactose intolerant consumers. In Mexico, beverage is a major application segment of the dairy alternatives market in terms of volume.
Increasing demand for lactose-free beverages such as soymilk, almond milk, rice milk, and others, especially in non-Hispanic consumers, is expected to drive the dairy alternatives market growth. Growing occurrence of milk allergies among Mexican consumers is expected to increase the demand for dairy alternative products over the forecast period.
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Dairy Alternatives Market Scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico dairy alternatives market size, by source, 2017-2030 (US$M)
Mexico Dairy Alternatives Market Outlook Share, 2022 & 2030 (US$M)
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