The global dairy-free smoothies market is expected to exhibit growth at a CAGR of around 6% to 7% during the forecast period 2022-2032. Increasing demand for alcohol-free beverages with enticing flavors amongst the individuals that are sensitive or allergic to dairy products is accelerating the sales of dairy-free smoothies in the global market.
| Report Attribute | Details |
|---|---|
| Dairy-Free Smoothies Market Projected Growth Rate (2022 to 2032) | 6% to 7% CAGR |
Dairy-free smoothies are beverages made from other dairy substitutes such as soy milk, almond milk, coconut milk, hazelnut milk, water, and others. Dairy products are difficult to digest and excessive consumption of these products can result in increased sugar levels, acne, nausea, diarrhea, and cramps among others.
With increasing awareness regarding these side effects, consumers across the globe are increasingly looking for easy-to-digest and tasty alternatives to dairy-based beverages such as dairy-free smoothies. This is projected to bolster the demand for dairy-free smoothies in the global market.
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The burden of food-related allergies and intolerance related to the consumption of milk and dairy products is growing at a robust pace, resulting in accelerating the demand for dairy-free alternatives across the globe. According to a study by the National Institute of Diabetes and Digestive and Kidney Diseases, in 2020, nearly 68% of the population worldwide was reported to be having difficulty in the digestion and absorption of lactose.
Due to this reduction in the ability to digest lactose (milk sugar) and increasing prevalence of lifestyle diseases, a significant rise in consumption of dairy alternatives and lactose-free products such as ice cream, flavored milk, cheese, dairy-free smoothies, and others is being witnessed. This is anticipated to create a conducive environment for the growth in the dairy-free smoothies market.
Increasing awareness regarding the side effects such as weight gain, digestive distress, bowel syndrome, constipation, and others due to the consumption of dairy-free products such as flavored milk and smoothies made of coconut milk is hampering the sales in the coconut segment.
Also, the relatively high cost of dairy-free smoothies in comparison to conventional milk-based smoothies and limited flavor availability are hindering the demand in the global market.
Principal Consultant
Future Market Insights reveals that North America is projected to exhibit growth at a robust CAGR in the global dairy-free smoothies market from 2022 to 2032.
Growing health-conscious population and increasing prevalence of lactose intolerance across North America have resulted in increasing the demand for dairy-free products in countries such as the U.S. and Canada. Hence, leading players in the market are aiming at launching novel dairy-free products with new flavors to cater to this rising demand.
For instance, in 2021, Naked Juice, an American brand of juices and smoothies, announced introducing two new ready-to-drink protein-rich dairy-free smoothies – Rich Chocolate and Velvety Vanilla. A multiplicity of such new product launches are estimated to augment the sales of dairy-free smoothies in the North America market.
Europe is expected to account for a significant share in the global dairy-free smoothies market during the forecast period 2022-2032, as per FMI.
In the past few years, a swift rise in trend of veganism is being witnessed across Europe, owing to the increasing awareness regarding health benefits and rising concerns pertaining to animal welfare, creating immense growth prospects for dairy alternative products.
According to a study by the Viva Organization, approximately 3% of the population or around 2 Mn people acrpss the U.K. identify themselves as a vegan. This rise in the vegan population is propelling the demand for dairy-free smoothies, ice creams, shakes, flavored soy milk, and others, thereby bolstering the sales in the Europe market.
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Some of the leading players in the dairy-free smoothies market are Life Force Beverages LLC, Tasti D-Lite, LLC., Golden State Foods Corporation, Naked Juice, WWF Operating Company., Beaming Wellness, Inc., Maui Wowi Franchising, Inc., Innocent Drinks, Tate & Lyle plc., Campbell Soup Company, and Retail Zoo Pyt Ltd., and others.
Attributed to the large number of participants and growing emphasis on new product launches, the market for dairy-free smoothies is highly competitive.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6% to 7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Source, Flavor, Distribution Channel, Region |
| Countries Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Companies Profiled | Life Force Beverages LLC; Tasti D-Lite, LLC.; Golden State Foods Corporation; Naked Juice; WWF Operating Company; Beaming Wellness, Inc.; Maui Wowi Franchising, Inc.; Innocent Drinks; Tate & Lyle plc.; Campbell Soup Company; Retail Zoo Pyt Ltd.; Others |
| Customization | Available Upon Request |
FMI projects the demand for dairy-free smoothies market to expand at rapid value CAGR of 6% to 7% over the forecast period 2022-2032
The dairy-free smoothies market is dominated by North America, and this trend is projected to continue for the assessment period.
Life Force Beverages LLC, Tasti D-Lite, LLC., Golden State Foods Corporation, Naked Juice, WWF Operating Company., Beaming Wellness, Inc., Maui Wowi Franchising, Inc., Innocent Drinks, Tate & Lyle plc., Campbell Soup Company, and Retail Zoo Pyt Ltd., and others are some key dairy-free smoothies manufacturer.
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Dairy-Free Smoothies Market
