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Showing posts with the label Dairy Alternatives Market

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...

Dairy Alternatives Market witnessing high demand due to changing consumer eating patterns and diet trends

  The global dairy alternatives market was valued at USD 29.18 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2030. This market expansion is fueled by evolving consumer preferences, with many shifting towards plant-based diets and embracing dairy substitutes due to rising awareness of health and environmental benefits. Additionally, a growing number of individuals are experiencing lactose intolerance or milk allergies, further boosting demand for dairy alternatives. According to the World Health Organization (WHO), over 60% of the global population is affected by some form of milk allergy, with lactose intolerance prevalent in over 30 million American adults. The prevalence of lactose intolerance also varies across different ethnic groups, affecting around 95% of Asians, 60-80% of African Americans and Ashkenazi Jews, 80-100% of American Indians, and 50-80% of Hispanics, while individuals of Northern European descent exhibit t...

Dairy Alternatives Market size is expected to reach USD 66.91 billion by 2030

  Dairy Alternatives Industry Overview The global dairy alternatives market size was valued at USD 29.18 billion in 2023 and is anticipated to grow at a CAGR of 12.6% from 2024 to 2030. The market is gaining momentum and witnessing high demand due to changing consumer eating patterns and diet trends. Rising cases of milk allergies and lactose intolerance are expected to increase demand for dairy alternatives in the coming years. Over 60% of the world's population has some level of milk allergy, according to the World Health Organization. More than 30 million American adults are lactose intolerant. Primary lactose intolerance seems to have a genetic component, with high intolerance levels in specific populations: About 95% of Asians, 60-80% of African Americans and Ashkenazi Jews, 80-100% of American Indians, and 50-80% of Hispanics. Lactose intolerance is least common among people of northern European origin, with a prevalence of only about 2%. Many food and beverage prod...