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The global the dairy alternatives market size was USD 25.19 billion in 2022, the market is projected to reach USD 28.55 billion in 2023 to USD 69.84 billion by 2030 at a CAGR of 13.63% during the 2023-2030 period. Rise in the plant-based food substitutes has led to the demand for non-dairy products or dairy alternatives. Such alternative products are made from essentially legumes, nuts, or cereals. As per the report, the market is projected to grow during the projected period due to increasing veganism and rising inclination of consumers toward plant-based foods. Fortune Business Insights™ publishes this information in a report titled, "Dairy Alternatives Market, 2023-2030".

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.)
Drivers & Restraints:

Increasing Veganism and Inclination Towards Plant-Based Foods to Bolster Market Growth

Plant-based food products and veganism is expected to offer market with opportunities for growth. Recent surge in demand for dairy alternatives and robust popularity of plant-based ingredients along with rising adoption rates for meat and dairy substitutes is anticipated to drive market development. Furthermore, water and carbon footprint of milk and dairy commodities is significantly higher than that of horticultural products.

However, low consumer awareness and sub-optimal market penetration may hamper market growth.

Regional Insights:

Asia Pacific Dominates Global Market Share Due to Rising Cases of Lactose Intolerance

Asia Pacific held a dominating part in the global dairy alternatives market share owing to rising cases of cow milk allergy and lactose intolerance among the population. Calorie concerns and higher prevalence of hypercholesterolemia and obesity are the major reasons for regional market growth.

North America is anticipated to hold the second-leading position due to the increasing demand for plant-based food products and surging veganism. Also, consumers intend to adopt a highly nutritional diet and develop their immunity.

Growth in South America is influenced by the rising shifts toward reduction in the consumption of animal-based products due to improving health, animal, and environmental welfare concerns.

Competitive Landscape:

New Product Launch Allow Companies to Improve their Business Performance

The leading companies focus on introducing products to attract customers and enhance their product portfolio. Rising adoption of the latest technologies and integration of emerging consumer demand allow companies to build their business performance. Key market players have also been trying to create more products. For instance, Danone S.A. acquired several leading plant-based brands recently to strengthen its vegan products portfolio. Products includes Silk, Vega, and Alpro.

Key Industry Development:

February 2023: Kagome USA launched sweet and savory vegan butter blends in the U.S. market. Kagome USA a leading global sauce producing company.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessins....ights.com/industry-r

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Cheese Market Analysis By Size, Growth, Share, Trends, Opportunities, Key Players Insights And Global Forecast To 2030

The global cheese market size was valued at USD 183.79 billion in 2022. The market is projected to grow from USD 187.42 billion in 2023 to USD 256.99 billion by 2030, exhibiting a CAGR of 4.61% during the forecast period.

Cheese consumption is increasing due to its availability and versatility. Moreover, acceptance and adoption of ethnic cuisines such as Mexican and Italian subsequently used more cheese to drive market growth. The two most popular varieties of cheese are mozzarella and cheddar.

Drivers and Restraints:

Increasing Demand for Plant-based Cheese to Drive the Market Growth

Plant-based cheese is a dairy alternative primarily made from cashew, soy, almond, and others. The growing trend of veganism and rising preferences for plant-based food propel the demand for plant-based products. Hence, increasing veganism and launching more plant-based products will drive the cheese market growth during the projected period.

Many consumers are allergic to caesin, a protein in cheese. Caesin allergy causes acne, headaches, inflammation, and rashes. Hence, health risks and issues associated with caesin are predicted to hinder the market growth.

Regional Insights:

Increasing Investments and Partnerships to Propel Market Growth in Europe

European consumers adopt healthy foods to maintain well-being and physical health with useful traits such as organic and non-GMO retail positioning, positively impacting the region’s cheese industry.

In North America, the demand for nutritious food products and convenience encourages market growth. North America is one of the major markets, mostly driven by the millennials constantly changing desert and snack consumption habits.

Competitive Landscape:

Launching of New Products by Key Players to Stay Competitive in the Market

Key industry players adopt various competitive strategies, such as new product launches, to support market players in creating various business opportunities through diversified product reach with a wide range of distribution channels in the market.

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessins....ights.com/cheese-mar

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