The increasing incidence of lactose intolerance and dairy allergies – the increasing health consciousness of consumers has increased the popularity of dairy alternatives as they have lower levels of saturated fat and cholesterol. Furthermore, the prevalence of lactose intolerance is driving individuals to seek dairy alternatives as a digestive-friendly option. The popularity of vegan and vegetarian lifestyles also significantly contributes to the growing demand for dairy alternatives. As ethical, environmental, and health considerations drive people towards plant-based diets, these alternatives are bound to witness a significant increase in demand. Additionally, the increasing awareness of environmental and animal welfare concerns associated with conventional dairy farming encourages the shift towards sustainable and cruelty-free options.
The relatively high cost of dairy alternatives – The higher price point of many dairy alternatives, attributed to resource-intensive production processes and potentially limited economies of scale, will limit the market's growth with fewer takers for high-priced goods in the presence of cheaper options. Dairy alternatives are branded as premium products targeting high-end consumers in many markets, further impeding the market's growth. Additionally, limited availability will also hinder adoption. The production of dairy alternatives, especially plant-based milk and other options, requires certain weather and soil conditions, which increases Geographical disparities and contributes to uneven accessibility of dairy alternatives. Furthermore, dairy alternatives are new to the market, and consumers are willing to switch to these as their daily option, given the high price point and limited availability. Therefore, the high price point and limited availability will limit the market's growth.
The increasing awareness about dairy alternatives – Health consciousness and aware consumers are actively seeking alternatives to meat, gluten and dairy, which improves the visibility, discovery and adoption rates of dairy alternatives. The surge in popularity of vegan and vegetarian lifestyles, driven by ethical, environmental, and health considerations, makes dairy alternatives a prominent choice for consumers. Diversity in product offerings, including plant-based milk, cheeses, yoghurts, and ice creams, cater to various tastes, expanding the market. Ongoing innovations in taste and texture to make these products similar to traditional products without limitations will increase their appeal and encourage wider acceptance. The influence of celebrities and social media influencers has also created awareness and positively influenced consumer perceptions about dairy alternatives, thereby driving its demand in the market.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global dairy alternatives market based on below mentioned segments:
Global Dairy Alternatives Market by Source:
Global Dairy Alternatives Market by Product Type:
Global Dairy Alternatives Market by Distribution Channel:
Global Dairy Alternatives Market by Region:
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