Spain Dairy Alternatives Market Size & Outlook, 2022-2030
Spain dairy alternatives market, 2017-2030 (US$M)
Related Markets
Spain dairy alternatives market highlights
- The Spain dairy alternatives market generated a revenue of USD 816.6 million in 2022 and is expected to reach USD 2,037.3 million by 2030.
- The Spain market is expected to grow at a CAGR of 12.1% 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 816.6 million |
| Market revenue in 2030 | USD 2,037.3 million |
| Growth rate | 12.1% (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, Spain accounted for 3.1% 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 35.86% in 2022. Horizon Databook has segmented the Spain dairy alternatives market based on soy, almond, coconut, rice, oats covering the revenue growth of each sub-segment from 2017 to 2030.
Many consumers are shifting from dairy products to dairy alternatives owing to the associated health benefits. Milk allergic consumers are consuming dairy alternative beverages such as oat and almond drinks, which is expected to augment the demand for dairy-free products over the forecast period.
The declining consumption of dairy-based products among children coupled with the rising popularity of flavored dairy-free beverages is expected to attract young customers over the coming years. Players like Mercadona S.A., Dr Schär España SL, and Danone S.A. provide a wide range of lactose-free and glutenfree products to attract lactose-intolerant consumers in the region.
Growing occurrence of milk allergies amongst the consumers is expected to drive demand for dairy alternative products over the forecast period. Soymilk has dominated the Spain dairy alternatives industry over the past few years.
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Dairy Alternatives Market Scope
Dairy Alternatives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Spain dairy alternatives market size, by source, 2017-2030 (US$M)
Spain Dairy Alternatives Market Outlook Share, 2022 & 2030 (US$M)
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