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Dairy Alternatives Market to be Worth $66.9 Billion by 2030: Grand View Research, Inc.
The increasing demand for vegan and vegetarian diets is one of the major drivers to the market. With the growing awareness about the benefits of plant-based diets, more consumers are opting for vegetarian and vegan food products. Consumers are also opting for alternate products as a means to cut back on calories consumed as dairy products generally contain a high number of calories. Consumers looking to lose weight have been increasingly substituting cow or buffalo milk with soy or almond milk. This, in turn, is expected to aid the growth of the market as the fitness-savvy consumer base is increasing across the globe.
Initiatives undertaken by manufacturers such as offering novel flavors, enriching with vitamin & mineral supplements, better quality, and attractive packaging are expected to have a positive impact on the industry over the forecast period. In 2022, numerous start-ups in the market received notable investments such as Remilk, Imagindairy, and Perfect Day which received USD 120 million , USD 13 million , and USD 350 million respectively in seed funding.
Grand View Research has segmented the global dairy alternatives market based on source, distribution channel, product, and region:
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
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Grand View Research, Inc.
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