North America Dairy Alternatives Market Size & Outlook
North America dairy alternatives market, 2017-2030 (US$M)
Related Markets
North America dairy alternatives market highlights
- The North America dairy alternatives market generated a revenue of USD 6,933.6 million in 2022.
- The market is expected to grow at a CAGR of 12% 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 6,933.6 million |
| Market revenue in 2030 | USD 17,195.1 million |
| Growth rate | 12% (CAGR from 2022 to 2030) |
| Largest segment | Almond |
| 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, North America region accounted for 26.7% 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.
Almond was the largest segment with a revenue share of 40.86% in 2022. Horizon Databook has segmented the North America dairy alternatives market based on soy, almond, coconut, rice, oats covering the revenue growth of each sub-segment from 2017 to 2030.
Increasing consumer demand for plant-based products with high nutritional value is expected to have a positive impact on the market growth. Increasing cases of milk intolerance in North America are expected to drive the demand for non-dairy products such as soymilk and almond milk.
North America is expected to account for a significant share over the forecast period as a result of the increasing demand for novel plant-derived products. In North America, consumers are adopting non-dairy products instead of cow milk as the former offers high nutritional value and low-calorie content.
This is anticipated to drive the market growth over the forecast period. Furthermore, growing demand for tasty, lactose-free beverages is expected to drive the demand for various sweetened dairy alternative products such as soymilk, almond milk, and coconut milk.
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Dairy Alternatives Market Scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America dairy alternatives market size, by country, 2017-2030 (US$M)
North America Dairy Alternatives Market Outlook Share, 2022 & 2030 (US$M)
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