Global Dairy Alternatives Market Forecast to 2023: Favorable Marketing and Correct Positioning of Dairy Alternatives
The global dairy alternatives market size is projected to grow from USD 17.3 billion in 2018 to USD 29.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period.
- The global dairy alternatives market size is projected to grow from USD 17.3 billion in 2018 to USD 29.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period.
- The dairy alternatives market is driven by various factors such as growing consumer preference for a vegan diet and nutritional benefits offered by plant-based dairy alternatives.
- The soy segment, by source, is estimated to dominate the dairy alternatives market in 2018.
- Soya-based dairy alternatives are considered to be the best substitutes for dairy products and occupy a significant share in the dairy alternatives market.