As compared to the traditional dairy counterparts, plant milk and milk products are anticipated to gain more popularity in the coming years owing to the surging trend of veganism. The rising inclination of people towards vegan, vegetarian, and flexitarian food lifestyles would also increase the demand for dairy substitutes. Apart from that, the ever-increasing concerns regarding environmental impacts, animal welfare, and health may limit the growth of the dairy sector.
As per one of our lead analysts, “Nowadays, consumers are shifting towards value-added products that are appealing to their aesthetic and nutritional needs.” These factors, together, are likely to augment the Dairy Alternatives Market growth during the forthcoming years.

The global dairy alternatives market size is set to grow remarkably on account of the evolving dietary lifestyles of the masses. Additionally, people across the world are persistently following flexitarianism and veganism, which, in turn, would impact the market positively. This information is given in a recently published report by Fortune Business Insights™, titled, “Dairy Alternatives Market Size, Share & Industry Analysis, By Source (Soy, Almond, Coconut, Rice, Oats, and Others), Product Type (Non-dairy Milk, Butter, Cheeses, Yogurts, Ice Cream, and Others), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others), and Regional Forecasts, 2019 – 2026.” As per the report, the Dairy Alternatives Market size is projected to reach USD 25.12 billion by the end of 2026, thereby exhibiting a CAGR of 9.79% during the forecast period. However, it stood at USD 12.07 billion in 2018.

https://www.fortunebusinessinsights.com/industry-reports/dairy-alternatives-market-100221