The new report by Expert Market Research titled, ‘Europe Dairy Alternative Market Size, Report and Forecast 2024-2032’, gives an in-depth analysis of the Europe dairy alternative market, assessing the market based on its segments like sources, formulations, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2032)
- Historical Market Size (2023): Approximately USD 4051.31 million
- Forecast CAGR (2024-2032): 10.3%
Plant-based substitutes such as soy milk, coconut milk, and almond milk have become popular as the number of cases of milk allergy has increased. Protein, calcium, and potassium are all found in soybeans and soya milk. The market is growing as people become more aware of such issues. In recent years, increased demand for plant-based commodities has boosted industry growth in Europe. European producers are still focused on novel food technologies, as evidenced by recent launches such as fresh soy beverages and hemp juices, among others. A well-established network of mainstream merchants has allowed for a stronger presence in the business. Key competitors are making various innovations and taking initiatives to propel the dairy alternative market ahead.
Industry Definition and Major Segments
Any product that imitates a substance produced from milk is referred to as a dairy substitute. Plant-based goods are typically created from grains, nuts, and seeds that have been soaked and mixed into water to extract characteristics similar to milk. Plant-based milk products, like cow, buffalo, sheep, or goat milk, provide proteins, carbohydrates, vitamins, minerals, and calories.
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The market is divided on the basis of source into:
- Soy
- Almond
- Coconut
- Rice
- Oats
- Hemp
- Others
The market is segmented on the basis of formulation into:
- Plain
- Flavoured
By application, the market is segmented into:
- Milk
- Ice Cream
- Yoghurt
- Cheese
- Creamers
- Others
Country-wise, the market is divided into:
- Germany
- United Kingdom
- France
- Italy
- Spain
- Others
Market Trends
Lactose intolerance is becoming more common in Europe, which has fuelled the demand for milk replacements. The antioxidant properties of milk replacements, such as almond milk, which can have a preventive effect on cancer and heart patients, have boosted the demand for milk substitutes in Europe. Over the forecast period, the expanding market awareness regarding the health benefits of milk substitutes, and a growing number of health-conscious customers, are expected to drive market growth. Several trends, such as more companies offering gluten-free and lactose-free ranges, are projected to drive market expansion during the forecast period.
Key Market Players
The major players in the market are Kerry Inc., Danone SA, Nestlé S.A., Doehler Group SE, and Oatly AB, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
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