Europe Dairy Alternatives Market Size, Share, Trends, Growth, Key Players, Report and Forecast 2024-2032
Europe Dairy Alternatives Market Outlook
According to a new report by Expert Market Research titled, “Europe Dairy Alternatives Market Size, Share, Trends, Growth, Key Players, Report and Forecast 2024-2032, the Europe dairy alternatives market reached a value of USD 4051.31 million in 2023. Aided by the growing consumer preference for plant-based diets and an increasing awareness of lactose intolerance and cow’s milk allergy, the market is projected to further grow at a CAGR of 10.3% between 2024 and 2032 to reach a value of USD 7323.99 million by 2032.
Dairy alternatives are products that are used as a substitute for traditional dairy. These products, derived from plants, include almond milk, soy milk, oat milk, coconut milk, rice milk, and various others. They are increasingly being used in various products, including cheese, yogurt, ice cream, and creamers. Besides being lactose-free, many dairy alternatives are lower in calories and fat than their dairy counterparts.
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The surge in veganism and flexitarian lifestyles across Europe is a fundamental driver of the Europe dairy alternatives market growth. Consumers are becoming more health-conscious and environmentally aware, prompting them to look for sustainable and animal-friendly products. Additionally, the rise in lactose intolerance and milk allergies among the European population has led to an increasing demand for non-dairy substitutes.
The growing awareness of the environmental impact of dairy farming, including high water usage and greenhouse gas emissions, is encouraging consumers to opt for plant-based alternatives. Such alternatives, deemed to be more sustainable, have attracted a consumer base that extends beyond lactose-intolerant individuals and vegans, propelling the Europe dairy alternatives market demand.
In response to the burgeoning demand, companies are diversifying their product offerings and entering niche segments. For example, oat milk has emerged as a popular dairy alternative in Europe, particularly in Nordic countries and the United Kingdom, owing to its creamy texture and eco-friendly production process.
As per the Europe dairy alternatives market analysis, Western Europe, particularly the United Kingdom, Germany, and France is currently leading the market, owing to high consumer awareness and wide product availability. However, Eastern and Southern European markets, such as Poland and Spain, are emerging as strong growth areas due to increasing consumer demand for healthier and sustainable products.
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Europe Dairy Alternatives Market Segmentation
The market can be divided based on source, formulation, application, and country.
Market Breakup by Source
- Soy
- Almond
- Coconut
- Rice
- Oats
- Hemp
- Others
Market Breakup by Formulation
- Plain
- Flavoured
Market Breakup by Application
- Milk
- Ice Cream
- Yoghurt
- Cheese
- Creamers
- Others
Market Breakup by Country
- Germany
- United Kingdom
- France
- Italy
- Spain
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Europe dairy alternatives market. Some of the major players explored in the report by Expert Market Research are as follows:
- Kerry Inc.
- Danone SA
- Nestlé S.A.
- Doehler Group SE
- Oatly AB
- Others
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