Report Overview:

The global dairy alternatives market size was valued at USD 32.38 billion in 2024. The market is projected to grow from USD 36.76 billion in 2025 to USD 91.15 billion by 2032, exhibiting a CAGR of 13.85% during the forecast period.

Plant-based food substitutes have increased demand for non-dairy products or dairy alternatives. Such alternative products are made from essential legumes, nuts, or cereals. As per the report, the market is projected to grow during the projected period due to increasing veganism and the rising inclination of consumers toward plant-based foods. Fortune Business Insights™ publishes this information in a report titled, "Dairy Alternatives Market, 2025-2032".

List of Key Players Profiled in the Market:

• Danone S.A. (France)
• Archer-Daniels-Midland Company (U.S.)
• Blue Diamond Growers (U.S.)
• SunOpta, Inc. (Canada)
• Vitasoy International Holdings Ltd (Hong Kong)
• Daiya Food, Inc. (Canada)
• Goya Foods, Inc. (U.S.)
• Living Harvest Foods, Inc. (India)
• Organic Valley (U.S.)
• Eden Foods, Inc. (U.S.)

Segments:

Soy Segment to Lead the Market Due to High Availability

By source, the market is categorized into soy, almond, coconut, rice, oats, and others. The soy segment is anticipated to hold a dominating market position during the forecast period owing to increasing availability and rising demand for soy milk.

Non-dairy Milk Segment to Dominate Owing to Increasing Demand

Based on product type, the market is segregated into non-dairy milk, butter, cheeses, yogurts, ice cream, and others. The non-dairy milk segment is anticipated to lead the market share due to increasing demand from the vegan population.

Supermarket/Hypermarkets to Hold Highest Share Due to Their Affordability