Product Segmentation Insights in the Dairy Alternatives Market
The global dairy alternatives market was valued at approximately USD 29.18 billion in 2023 and is projected to experience significant growth, with an anticipated compound annual growth rate (CAGR) of 12.6% from 2024 to 2030. This market is gaining considerable momentum and witnessing heightened demand, primarily driven by shifting consumer eating patterns and evolving dietary trends. One of the key factors contributing to this shift is the increasing prevalence of milk allergies and lactose intolerance, which are expected to further fuel the demand for dairy alternatives in the upcoming years. According to the World Health Organization, over 60% of the global population experiences some degree of milk allergy. In the United States alone, more than 30 million adults are lactose intolerant. Primary lactose intolerance appears to have a genetic basis, with significant variation in prevalence among different populations: approximately 95% of Asians, 60-80% of African Americans and As...