The Asia Pacific Dairy Alternatives Market would witness market growth of 11.4% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 3,645.0 Kilo Tonnes, showcasing a growth of 10.4% (2019-2022).
Ethical concerns regarding animal welfare have led many consumers to reconsider their dietary choices. The market provides an avenue for individuals who wish to distance themselves from the ethical dilemmas associated with traditional dairy farming. Plant-based options are perceived as a more humane choice, aligning with the values of those seeking cruelty-free and sustainable alternatives. Beyond traditional soy and almond milk, companies are introducing various plant-based alternatives, including oat, coconut, hemp, and pea protein-based options. This diversification caters to varied consumer preferences, ensuring a comprehensive range of taste, texture, and nutritional content choices.
These alternatives have transitioned from niche products to mainstream offerings. The increasing demand has prompted supermarkets, grocery stores, and even specialty retailers to expand their dairy alternative product lines. This widespread availability has made it more convenient for consumers to incorporate plant-based options into their daily routines. In order to compete with the nutritional richness of traditional dairy, many dairy alternative products are strengthened with vitamins, minerals, and other functional ingredients. This trend addresses concerns about potential nutrient gaps in plant-based diets, making these alternatives more appealing to consumers who seek nutritional parity with dairy products.
According to the US Department of Agriculture, in 2021, India's HRI sector was valued at $61.4 billion. The industry is estimated to reach $110 billion by 2025. India's expanding youth population comprises 65 percent of its population and is mainly responsible for driving this growth. Rising disposable incomes, aspiration for better lifestyles, increased tourism, changing consumer habits, and high interest in imported products and new cuisines are key factors driving the HRI sector. India's diverse population has varying dietary preferences based on regional, cultural, and religious factors. These alternatives cater to various tastes and preferences across different regions. Due to the aforementioned factors the market will drive its growth in this region.
The China market dominated the Asia Pacific Dairy Alternatives Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,243.5 million by 2030. The Japan market is registering a CAGR of 10.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 12.1% during (2023 - 2030).
Based on Source, the market is segmented into Soy, Almond, Coconut, Oats, Rice, and Others. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others. Based on Product, the market is segmented into Milk, Yogurt, Ice-cream, Creamers, Cheese, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danone, S.A., SunOpta, Inc., Blue Diamond Growers, Inc., The Hain Celestial Group, Inc., Earth’s Own Food Company Inc., PANOS Brands, LLC (Hammond, Kennedy, Whitney & Company, Inc.), Archer Daniels Midland Company, Eden Foods, Inc., Vitasoy International Holdings Ltd. and Kikkoman Corporation.
Ethical concerns regarding animal welfare have led many consumers to reconsider their dietary choices. The market provides an avenue for individuals who wish to distance themselves from the ethical dilemmas associated with traditional dairy farming. Plant-based options are perceived as a more humane choice, aligning with the values of those seeking cruelty-free and sustainable alternatives. Beyond traditional soy and almond milk, companies are introducing various plant-based alternatives, including oat, coconut, hemp, and pea protein-based options. This diversification caters to varied consumer preferences, ensuring a comprehensive range of taste, texture, and nutritional content choices.
These alternatives have transitioned from niche products to mainstream offerings. The increasing demand has prompted supermarkets, grocery stores, and even specialty retailers to expand their dairy alternative product lines. This widespread availability has made it more convenient for consumers to incorporate plant-based options into their daily routines. In order to compete with the nutritional richness of traditional dairy, many dairy alternative products are strengthened with vitamins, minerals, and other functional ingredients. This trend addresses concerns about potential nutrient gaps in plant-based diets, making these alternatives more appealing to consumers who seek nutritional parity with dairy products.
According to the US Department of Agriculture, in 2021, India's HRI sector was valued at $61.4 billion. The industry is estimated to reach $110 billion by 2025. India's expanding youth population comprises 65 percent of its population and is mainly responsible for driving this growth. Rising disposable incomes, aspiration for better lifestyles, increased tourism, changing consumer habits, and high interest in imported products and new cuisines are key factors driving the HRI sector. India's diverse population has varying dietary preferences based on regional, cultural, and religious factors. These alternatives cater to various tastes and preferences across different regions. Due to the aforementioned factors the market will drive its growth in this region.
The China market dominated the Asia Pacific Dairy Alternatives Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,243.5 million by 2030. The Japan market is registering a CAGR of 10.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 12.1% during (2023 - 2030).
Based on Source, the market is segmented into Soy, Almond, Coconut, Oats, Rice, and Others. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others. Based on Product, the market is segmented into Milk, Yogurt, Ice-cream, Creamers, Cheese, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danone, S.A., SunOpta, Inc., Blue Diamond Growers, Inc., The Hain Celestial Group, Inc., Earth’s Own Food Company Inc., PANOS Brands, LLC (Hammond, Kennedy, Whitney & Company, Inc.), Archer Daniels Midland Company, Eden Foods, Inc., Vitasoy International Holdings Ltd. and Kikkoman Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Source (Volume, Kilo Tonnes, Revenue, USD Billion, 2019-2030)- Soy
- Almond
- Coconut
- Oats
- Rice
- Others
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retail
- Others
- Milk
- Yogurt
- Ice-cream
- Creamers
- Cheese
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Danone, S.A.
- SunOpta, Inc.
- Blue Diamond Growers, Inc.
- The Hain Celestial Group, Inc.
- Earth’s Own Food Company Inc.
- PANOS Brands, LLC (Hammond, Kennedy, Whitney & Company, Inc.)
- Archer Daniels Midland Company
- Eden Foods, Inc.
- Vitasoy International Holdings Ltd.
- Kikkoman Corporation
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Dairy Alternatives Market by Source
Chapter 6. Asia Pacific Dairy Alternatives Market by Distribution Channel
Chapter 7. Asia Pacific Dairy Alternatives Market by Product
Chapter 8. Asia Pacific Dairy Alternatives Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Danone, S.A.
- SunOpta, Inc.
- Blue Diamond Growers, Inc.
- The Hain Celestial Group, Inc.
- Earth’s Own Food Company Inc.
- PANOS Brands, LLC (Hammond, Kennedy, Whitney & Company, Inc.)
- Archer Daniels Midland Company
- Eden Foods, Inc.
- Vitasoy International Holdings Ltd.
- Kikkoman Corporation
Methodology
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