Dairy Free Evaporated Milk Market Size was estimated at 1.5 (USD Billion) in 2022. The Dairy Free Evaporated Milk Market Industry is expected to grow from 1.63(USD Billion) in 2023 to 3.28 (USD Billion) by 2032. The Dairy Free Evaporated Milk Market CAGR (growth rate) is expected to be around 8.11% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The global dairy-free evaporated milk market is exhibiting significant growth, driven by the rising popularity of plant-based diets and the increasing prevalence of lactose intolerance. The market is witnessing a surge in demand for plant-based milk alternatives, including evaporated milk, as consumers seek healthier and more sustainable options. Key market drivers include the growing awareness of the health benefits associated with plant-based diets, such as reduced risk of heart disease and improved weight management. Additionally, the availability of a wide range of plant-based evaporated milk products, such as those made from soy, coconut, and almonds, is further driving market growth.Opportunities for market exploration and capture lie in the development of innovative plant-based evaporated milk products that meet the diverse needs of consumers. For instance, the creation of evaporated milk products with enhanced nutritional profiles, such as fortified with vitamins and minerals, can cater to the growing demand for functional foods. Furthermore, the exploration of new plant sources for evaporated milk production, such as oats or pea protein, can expand the market's offerings and appeal to a broader consumer base. Also, the development of plant-based evaporated milk products with improved taste and texture can further enhance the market's growth.Recent market trends indicate a growing emphasis on sustainability and eco-consciousness among consumers. This trend presents opportunities for market players to develop dairy-free evaporated milk products that are environmentally friendly, such as those packaged in recyclable or biodegradable materials. Additionally, the increasing popularity of online grocery shopping and home delivery services is creating new channels for market penetration. Market players can leverage these trends to expand their reach and cater to the evolving needs of consumers.
The increasing pool of consumers pivoting toward plant-based diets is one of the major pivots driving the dairy free evaporated milk market. Consumers are increasingly looking for healthy and sustainable alternatives to milk powder and dairy products. Rapid urbanization and busy, hectic lifestyles are further factors, when paired with little time for preparing a traditional meal, many consumers opt for condensed milk. Dairy free evaporated milk, or plant-based evaporated milk, is generated from a host of plant-based sources, such as soy, almonds, cashews, and oats.It is gaining recognition as a popular lactose-free and dairy-free alternative to conventional evaporated milk since it gives a similar flavor and texture to normal evaporated milk. The trend is anticipated to continue during the forecast period.
Lactose intolerance is a common disease that affects millions of people around the world. It happens when a body digests sugar lactose found in milk and other dairy products. Lactose intolerance brings a lot of symptoms, such as bloating, gas, diarrhea, and abdominal pain. For patients who have lactose intolerance, dairy-free evaporated milk will be a good way out. It does not contain lactose, which means that it is perfect for people who suffer from lactose intolerance.An increase in awareness in connection with lactose intolerance is anticipated to drive dairy-free milk in the nearest years.
One of the major consumers of dairy-free evaporated milk is the food and beverage industry. It is widely used in various food products, including soups, sauces, baked goods, and desserts. The expansion of the food and beverage industry will be another driver of the demand for dairy-free evaporated milk in the next few years. Moreover, the increasing usage of online food delivery services would also drive the demand for dairy-free evaporated milk, as plant-based meals and snacks are increasingly ordered by consumers online.
On the one hand, the global dairy-free evaporated milk market can be divided into two categories based on nature – organic and conventional. According to the current market predictions, the organic segment will comprise approximately 20% of the total market value. The growth rate for organic dairy-free evaporated milk is expected to be around 9.2% over the period of prognosis. The most likely factors that can facilitate this dynamic are significant customer interest in so-called clean-label products and a substantial shift towards innovative milk alternatives.In sum, alternative milk sales rose by 6% last year, with dairy-free products comprising 15% of the total milk category in the United States only. As of today, such major players as Eden Foods, Pacific Foods, and Hain Celestial Group represent the organic segment of the described market. On the other hand, the conventional segment is expected to account for approximately 80% of the global dairy-free evaporated milk market. The key factor contributing to the development of this particular market fraction is the lower price of conventional dairy-free evaporated milk in comparison to the organic analogs.As of today, that segment is dominated by corporations such as Nestle, Unilever, and Danone. In point of fact, the overall size of the global dairy-free evaporated milk market is valued at USD 1.63 billion and is expected to reach USD 3.28 million by 2032.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hypermarkets and supermarkets are expected to hold the largest market share in 2023 and are expected to remain dominant over the forecast period 2023-2032. The growth is related to the increase in one stop shopping and the presence of dairy free evaporated milk from different brands in these stores. Convenience stores are expected to be the fastest-growing segment over the forecast period.The growth can be associated with the increasing number of consumers shopping for convenience and the trends of consumers going for dairy free milk alternatives. Moreover, the online retailer sector is also expected to post good growth. This observation is based on the increasing penetration of e-commerce and home delivery comfort.
The Dairy Free Evaporated Milk Market is segmented into Plain, Sweetened, Unsweetened, and Flavored. Among these segments, the Plain flavor segment holds the largest market share, accounting for over 45% of the global market in 2023. The Sweetened flavor segment is expected to grow at the highest CAGR of 9.2% during the forecast period 2024-2032. This growth is attributed to the increasing demand for dairy-free evaporated milk in bakery and confectionery applications. The Unsweetened flavor segment is also expected to witness steady growth, owing to its use in savory dishes and sauces.The Flavored flavor segment is expected to account for a smaller share of the market, but it is expected to grow at a moderate CAGR of 7.8% during the forecast period. The increasing popularity of flavored dairy-free evaporated milk in beverages and smoothies is driving the growth of this segment.
The Fat Content segment is a crucial aspect of the Dairy Free Evaporated Milk Market segmentation. It categorizes products based on their fat content, offering consumers various options to meet their dietary preferences and health needs. Full-Fat Dairy Free Evaporated Milk is favored by those seeking a richer taste and higher fat intake, while Low-Fat and Fat-Free options cater to health-conscious consumers who prefer reduced fat consumption.
Low-Fat Dairy Free Evaporated Milk is estimated to hold the largest market share, driven by increasing demand for healthier alternatives to traditional dairy products. Fat-Free Dairy Free Evaporated Milk is also gaining popularity among consumers seeking to minimize their fat intake. The market data suggests that the growing awareness of lactose intolerance and veganism is fueling the demand for Dairy Free Evaporated Milk products, including those with different fat content options.
North America is the largest regional market for dairy-free evaporated milk, accounting for over 35% of the global revenue in 2023. The region's high demand for plant-based alternatives, particularly in the United States and Canada, drives this growth. Europe follows North America, with a market size of approximately USD 550 million in 2023, with key markets in the United Kingdom, Germany, and France. The Asia-Pacific region presents significant growth potential due to rising consumer awareness of lactose intolerance and growing vegan and flexitarian populations.China and India are expected to be key drivers in this region. South America and MEA have a relatively smaller market share but are expected to witness steady growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Even today, some of the key players in the Dairy Free Evaporated Milk Market continue to invest heavily in research and development as well as develop new and innovative products that suit the evolving needs and preferences of the customers. They, however, press on to expand their distribution networks, as well as amplify their portfolios in the market to maximize their presence and profits in the emerging Dairy Free Evaporated Milk Market. The Dairy Free Evaporated Milk Market will, therefore, be driven by the competitive area as the companies engage in the market, trying to acquire the biggest market shares.One of the major key players in the Dairy Free Evaporated Milk Market is the Hain Celestial Group, Inc. The company’s market shares are high due to its broad product offerings in the market. The Hain Celestial Group, Inc., offers a variety of dairy-free evaporated milk. The Almond Dream and the Rice Dream are some of the recognized Hain Celestial companies. The company enjoys large market share and distribution throughout the world. The Company assures maximum convenience, expertise, and support to the customers, especially the in-store personnel, to maintain compliance and stock support. The Company has a minimum turn order of $500.00. In Western Canada, the minimum turn order is $600.00. The Hain Celestial Group Inc.’s relentless efforts in sustainability and natural ingredient programs have worked late in all of its years of entrance into the Dairy Free Evaporated Milk Market. Its success within the industry is characterized by the unmatched production of high-quality products. It also boasts a broad portfolio of products that have kept Hain Celestial Group, Inc. aloof from the industry. The products are widely available in various distribution channels.
Dairy Free Evaporated Milk Market Industry Developments
The global dairy-free evaporated milk market is projected to reach USD 3.28 billion by 2032, exhibiting a CAGR of 8.11% during the forecast period. Increasing veganism, growing lactose intolerance, and raising awareness of the health benefits of plant-based milk alternatives drive market expansion. Key industry participants include SunOpta, The Hain Celestial Group, and Blue Diamond Growers. Recent developments include the launch of new products, such as Oatly's dairy-free evaporated oat milk and the expansion of distribution channels through partnerships with major retailers.
Dairy Free Evaporated Milk Market Segmentation Insights
| Report Attribute/Metric | Details |
| Market Size 2022 | 1.5 (USD Billion) |
| Market Size 2023 | 1.63 (USD Billion) |
| Market Size 2032 | 3.28 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 8.11% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Turtle Mountain, Pacific Foods, Malk Organics, Forager Project, Elmhurst 1925, Califia Farms, So Delicious Dairy Free, Silk, Oatly, Thrive Market, Eden Foods, Earth's Own Food Company, Nature's Charm |
| Segments Covered | Nature, Distribution Channel, Flavour, Fat Content, Regional |
| Key Market Opportunities | 1 Plant-based alternatives to dairy 20232 Growing demand from lactose intolerant consumers 20233 Rising adoption in vegan and dairy-free diets 20234 Increased awareness of health benefits 20235 Convenience and versatility for various culinary applications 2023 |
| Key Market Dynamics | Increasing demand for plant-based alternatives Health concerns associated with dairy consumption Growth in the vegan population Rising disposable income Government regulations and initiatives |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global dairy-free evaporated milk market size was valued at USD 1.63 billion in 2023 and is projected to reach USD 3.28 billion by 2032, exhibiting a CAGR of 8.11% during the forecast period.
The Asia-Pacific region is expected to dominate the dairy-free evaporated milk market throughout the forecast period due to the increasing demand for plant-based milk alternatives in countries such as China, India, and Japan.
The rising vegan population, growing awareness of lactose intolerance, and increasing disposable income are the key factors driving the growth of the dairy-free evaporated milk market.
Dairy-free evaporated milk is primarily used in baking, confectionery, and beverage applications. It is also used as a coffee creamer and in the production of dairy-free ice cream and yogurt.
The key players in the dairy-free evaporated milk market include: - The Hain Celestial Group - SunOpta Inc. - Blue Diamond Growers Inc. - Pacific Foods of Oregon, LLC. - WhiteWave Foods Company
The dairy-free evaporated milk market in North America is projected to grow at a CAGR of 7.8% during the forecast period.
The major challenges faced by the dairy-free evaporated milk market include the availability and cost of raw materials, competition from traditional dairy milk products, and the need for product innovation.
The growing demand for plant-based alternatives, the expansion of distribution channels, and the increasing popularity of online grocery shopping present significant opportunities for growth in the dairy-free evaporated milk market.
Some key trends in the dairy-free evaporated milk market include the rising demand for clean-label products, the increasing popularity of oat milk, and the growing adoption of e-commerce platforms for the purchase of dairy-free alternatives.
The COVID-19 pandemic had a positive impact on the dairy-free evaporated milk market as consumers sought out plant-based alternatives due to concerns over the safety of animal products. This trend is expected to continue in the post-pandemic period.
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