Animal Free Dairy Products Market Share Will Grow to USD 69.47 Billion by 2034, at 11.0% CAGR: Prophecy Market Insights

GlobeNewswire On September 9, 2024 17:46 IST

“Animal Free Dairy Products Market” from 2024-2034 with covered segments By Source (Soy, Almond, Coconut, Oat, Rice, Hemp, Cashew, Pea, and Others), By Product Type (Milk, Yogurt, Ice Cream, Cheese, Creamers, Butter, Sour Cream, and Other), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Foodservice), and By Regional Forecast, (2024-2034), which provides the perfect mix of market strategies, and industrial expertise with new cutting-edge technology to give the best experience.

Covina, Sept. 09, 2024 (GLOBE NEWSWIRE) — According to Prophecy Market Insights, the global animal free dairy products market size and share will expand from USD 26.77 Billion in 2024 to USD 69.47 Billion by 2034, showing a compound annual growth rate (CAGR) of 11.0% over the next decade.

Animal Free Dairy Products Market Report Overview

Animal Free Dairy Products is a groundbreaking innovation in the food industry, designed to replicate traditional dairy items such as milk, cheese, and yogurt without the use of animal-derived ingredients. These products are created through alternative methods, including fermentation using microbial cultures or plant-based sources.

The primary aim is to provide a sustainable and ethical option for consumers who are lactose intolerant, vegan or even concerned about animal welfare and environmental impact. By leveraging advanced food technology, animal-free dairy products offer a similar taste and texture to conventional dairy while addressing growing concerns about the sustainability of dairy farming.

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Our Free Sample Report includes:

Overview & introduction of market study
Revenue and CAGR of the market
Drivers & Restrains factors of the market
Major key players in the market
Regional analysis of the market with a detailed graph
Detailed segmentation in tabular form of market
Recent developments/news of the market
Opportunities & Challenges of the Market

Competitive Landscape:

The Animal Free Dairy Products Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.

Some of the Key Market Players:

Danone
Nestle
Unilever Oatly
Alpro
Silk
Perfect Day
TurtleTree Labs
Motif
Food giants

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Analyst View:

Nowadays consumers have access to many traditional dairy alternatives which include nut or grain based milk, cheese as well as frozen desserts, etc. Since, their advent as a unique product dairy alternatives have comfortably crossed over into the mainstream, and are expected to boost the target market growth.

Market Dynamics:

Drivers:

Growing Vegan and Plant-Based Diet

Increasing adoption of vegan and plant-based diets is driving the demand for animal-free dairy products. Consumers seeking alternatives to animal-derived foods for health, ethical, or environmental reasons are fueling target market growth.

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Market Trends:

Concentrated and Compact Detergents

There is a growing trend toward more concentrated detergents that require smaller amounts per wash. This not only reduces the amount of product used but also minimizes packaging, aligning with sustainability goals.

Segmentation:

Animal Free Dairy Products Market is segmented based on Source, Product Type, Distribution Channel, and Region.

Source Insights

Soy segment is anticipated to boost the growth for target market as soy-based products have been a staple in the animal-free dairy sector for decades. Soy milk, soy yogurt, and soy cheese are well-established products with a significant market share. The long history of soy consumption and its early introduction into the market has built a strong consumer base and brand recognition making it a dominant player in the animal-free dairy segment.

Product Type Insights

Milk is the most dominating and widely used in the target market growth as plant-based milk alternatives such as almond milk, soy milk, oat milk, and coconut milk are the most widely adopted animal-free dairy products. They appeal to a broad range of consumers, including those who are lactose intolerant, vegan, or simply seeking to reduce their dairy consumption.

Distribution Channel Insights

Supermarkets and hypermarkets is anticipated to boost the growth for target market as these large retail outlets provide a one-stop shopping experience where consumers can find various brands and types of plant-based dairy alternatives. The extensive product assortment and visibility in these stores make them the primary destination for purchasing these products.

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Recent Development:

In March 2024, Tomorrow Farms‘ animal-free dairy brand, Bored Cow, announced that it has developed the “first of its kind” range of drinkable yogurt made with milk protein from fermentation, coconut cream, and cane sugar. Bored Cow’s new yogurt alternative comes in 7 oz bottles in three flavors: strawberry, vanilla, and passion fruit mango. Each bottle provides 8 g of complete protein per bottle, calcium, vitamin D, vitamin B12, and live probiotic cultures. Furthermore, they are free from milk’s lactose, cholesterol, hormones, and antibiotics.

Regional Insights

North America: Growing concerns about the environmental impact of dairy farming, such as greenhouse gas emissions and resource consumption, are driving the shift towards animal-free dairy options in this region.
Asia Pacific: A significant proportion of the population in this region suffers from lactose intolerance, driving the demand for dairy alternatives that are easier to digest and less likely to cause gastrointestinal issues.

Browse Detail Report on “Animal Free Dairy Products Market Size, Share, By Source (Soy, Almond, Coconut, Oat, Rice, Hemp, Cashew, Pea, and Others), By Product Type (Milk, Yogurt, Ice Cream, Cheese, Creamers, Butter, Sour Cream, and Other), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Foodservice), and By Region – Trends, Analysis, and Forecast till 2034” with complete TOC @ https://www.prophecymarketinsights.com/market_insight/animal-free-dairy-products-market-5614

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About Us:

Prophecy Market Insights is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.

Prophecy’s expertize area covers products, services, latest trends, developments, market growth factors, and challenges along with market forecast in various business areas such as Healthcare, Pharmaceutical, Biotechnology, Information Technology (IT), Automotive, Industrial, Chemical, Agriculture, Food and Beverage, Energy, and Oil and Gas. We also offer various other services such as, data mining, information management, and revenue enhancement suggestions.

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