The global Dairy-Free Spreads Market is expected to reach a market valuation of USD 13.52 Billion by the year 2023, accelerating with a CAGR 3.3% by 2023 to 2033. Chickpea sales are likely to account for a part of the demand in the global dairy ingredients market, valued at USD 18.7 Billion in 2033.
Increasing practice of veganism has fuelled the demand of Dairy-free products over the years.
Dairy-free spreads are traditional spreads which are prepared from alternative dairy sources such as soy milk, almond milk, coconut milk.Dairy-free spreads are also prepared by attenuating other ingredients like plant-based fats and extracts to replace dairy-based ingredients. Increasing dairy allergy over the years contributes for the alternative sources such as Dairy-free spreads.
Dairy-free spreads are being utilized and replaced in all processed foods where dairy products are being used, which drives the global Dairy-free spreads market. As a result, the diverse features of Dairy-Free Spreads can be linked to the Dairy-Free Spreads market expansion.
Dairy products have the most desirable organoleptic properties and a favourable consumer perception, making them the most sought-after ingredients in the food and beverage industry. However, their high fat content has hampered their growth over the years, increasing the demand for non-fat dairy ingredients with a fat content of 1.5% or less (by weight).
| Attributes | Details |
|---|---|
| Dairy-Free Spreads Size (2023E) | USD 13.52 Billion |
| Dairy-Free Spreads Projected Size (2033F) | USD 18.7 Billion |
| Value CAGR (2023 to 2033) | 3.3% |
Future Market Insights projects the market to remain lucrative, exhibiting growth at 3.3% CAGR between 2023 and 2033 in comparison to the CAGR of 4.1% posted between 2018 and 2022.
Dairy-free spreads equally contain the same nutrient levels of calcium, fats and other constituents like regular spreads. The dairy ingredients market is growing in response to global trends for healthier foods and increasing demand for functional ingredients.
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Dairy-Free Spreads’ sales grew at a CAGR of 4.1% between 2018 and 2022. The period marked the entry of various market players and product innovations.
Future Market Insights (FMI) predicts that the growth of the Dairy-Free Spreads is expected to be propelled by various factors, including the increasing demand for healthy and nourishing food, the popularity of plant-based diets, and consumers' growing health awareness. Shift in dietary patterns and consumption of great-tasting with quality nutrition is expected to burgeon the consumption of Dairy products.
Manufacturers participating in Dairy-free spreads market is expected to witness higher revenue generation over the forecast period as the dairy-free products are expected to penetrate into wider geographical regions. The Dairy-free spreads are expected to get adopted by major food processors into their key products to maintain the vegan trend which in turn is anticipated to fuel demand for Dairy-free spreads over the forecast period.
North America stands as the major consuming region for the Dairy-free spreads owing to its comparatively large population following the strict vegan diet.
Over the past years, dairy-based products have declined in few developed countries due to factors including dairy allergies and developing veganism, which generated the alternative sources of dairy-free products.
There is a growing demand among the vegan consumers on Dairy-free spreads, as it forms the vital constituent in most of the bakery and confectionery products. The manufacturers in the Dairy-free spreads market have the flexibility to operate in both business-to-business segment and business to consumer segment which is expected to help the manufacturers maintain a market presence over various regions.
Along with vegan population, the Dairy-free spreads have also covered other consumers as a product attraction. The Dairy-free spreads are expected to proliferate in terms of value & volume due to growing veganism, modernizing lifestyle and search for alternative dairy source.
Principal Consultant
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 6.2% |
| Market Value Share in Global Market (2023) | 30.0% |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 4.4% |
| Market Value Share in Global Market (2023) | 25.0% |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 3.3% |
| Market Value Share in Global Market (2023) | 13.1% |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 6.0% |
| Market Value Share in Global Market (2023) | 15.3% |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 5.5% |
| Market Value Share in Global Market (2023) | 10.3% |
According to FMI, India is expected to rise by a healthy growth rate during the forecast period.
Dairy-free Spreads is becoming increasingly popular in India for a number of reasons. One of the main reasons is the growing awareness of the health and environmental benefits of dairy-free products. Many people in India are becoming more health-conscious and are looking for ways to incorporate more plant-based foods into their diets, and dairy-free Spreads is one way to do that.
In addition to that, with the increasing economic growth and urbanization, people in India are exposed to more options and a variety of foods, both in terms of taste and health, leading them to explore and try new dairy-free products.
According to FMI, the United States is expected to remain one of the dominant markets for given forecast period.
Dairy-free spreads have generated global demand and production due to its ample applications. Dairy- free spreads are highly produced and consumed in North America, due to increased vegan population in the recent years.
According to Analytics, a non-profit research organization for animals, the vegan population of USA is around 10.32 Million in 2023. This is ascribed to the increasing demand for dairy-free spreads in the region.
FMI reports that due to the increasing demand for Dairy-Free Spreads, major players in the market are expanding their presence in UK To meet the surging demand, the majority of key players in cultured non-fat dairy ingredient are working with their new product launches, strengthening their R&D departments and delivering valuable product in accordance with the trending consumer insights globally.
Furthermore, the increasing dairy allergies in the Europe has contributed for the escalating demand and supply chains of Dairy-free spreads. Lactose intolerance is a condition in which the body is unable to properly digest lactose, a sugar found in milk, which can cause symptoms such as bloating, diarrhoea, and gas.
Adjacent Markets Overview:
| Attributes | Dairy Free Cream Market |
|---|---|
| CAGR (2023 to 2033) | 7.2% |
| Market Value (2033) | US$ 777 Million |
| Growth Factor | There is an increasing focus on health among older individuals and a growing number of people who are becoming health-conscious. It is expected that the demand for non-dairy alternatives like dairy-free cream is expected to increase. |
| Opportunity | The increasing popularity of veganism, the rising awareness of lactose intolerance, and the growing concerns about the environmental impact of animal agriculture are all expected to contribute to the growth of the dairy-free cream market. |
| Key Trends | A growing awareness of the environmental impact of dairy production, and a rise in consumer interest in products that are free from allergens like lactose. |
Dairy-Free Smoothies Market:
| Attributes | Dairy Free Smoothies Market |
|---|---|
| CAGR (2023 to 2033) | 6.7% |
| Market Value (2033) | US$ 10 Billion |
| Growth Factor | 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. |
| Opportunity | Leading players in the market are aiming at launching novel dairy-free products with new flavors to cater to this rising demand. |
| Key Trends | This rise in the vegan population is propelling the demand for dairy-free smoothies, ice creams, shakes, flavored soy milk, and others. |
Reduced Fat Dairy Market:
| Attributes | Reduced Fat Dairy Market |
|---|---|
| CAGR (2023 to 2033) | 3.3% |
| Market Value (2033) | US$ 16.15 Billion |
| Growth Factor | Reduced-fat dairy products have a number of health benefits such as the prevention of hypertension, colon cancer, and others, which is expected to foster the growth of the industry in the upcoming years. A surge in health consciousness amongst people across the globe is fuelling the demand for reduced-fat dairy products. |
| Opportunity | Rising preference amongst consumers owing to the rich and enhanced taste of reduced-fat dairy products is a key factor accelerating the market expansion. |
| Key Trends | It is estimated that the hypermarket ad supermarkets segment is likely to exert dominance over the forecast period |
Bread and Toast Toppings: Dairy-free spreads are commonly used as a substitute for butter or margarine on bread and toast. They can be used in the same way as traditional spreads, providing a creamy and rich texture and flavor to bread, bagels, and other baked goods.
Cooking and Baking: Dairy-free spreads can also be used in cooking and baking as a substitute for butter or other dairy products. They can be used in recipes that call for spreads or fats, such as cakes, cookies, and pies. They can also be used in savory dishes such as stir-fries, sauces, and soups.
Snacks and Dips: Dairy-free spreads can be used as a base for dips and spreads, such as hummus, guacamole, and salsa. They can also be used as a topping for crackers, rice cakes, and other snack foods.
Vegan and Plant-Based Foods: Dairy-free spreads are an important ingredient in vegan and plant-based foods, such as vegan cheese and cream cheese. They can also be used in plant-based desserts, such as vegan cakes and frosting.
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The market for dairy-free spread is getting more and more cutthroat as the popularity of vegan and plant-based diets grows. Businesses must create and put into practise strong competitive strategies if they want to prosper in this market. Here are some possible competitive tactics for businesses to take into account in the market for dairy-free spreads:
Product Differentiation: Businesses may set their goods apart from those of their rivals by using distinctive and cutting-edge tastes, ingredients, or packaging. To entice customers that are concerned about their health, they could also provide further advantages like organic or non-GMO certification.
Marketing and branding: Companies may increase brand recognition and loyalty by using smart marketing and branding techniques. By promoting their brand values, such as sustainability, ethical sourcing, or social responsibility, businesses may set themselves apart from their rivals.
Pricing Techniques: Businesses can employ price techniques to obtain an edge over rivals in the marketplace. Companies may provide less expensive prices than their rivals to entice price-conscious customers, or they could charge more to represent their product as a superior, high-end choice.
Distribution Channels: Businesses may use their distribution networks to their advantage. They might utilize e-commerce platforms to reach a larger audience or collaborate with shops to offer special items or promotions.
Innovation and R&D Investment in R&D may help businesses produce new and improved goods that address evolving customer requirements and preferences. Businesses might concentrate on creating novel ingredients, tastes, or packaging that set their products apart from those of their rivals.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, India, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others. |
| Key Segments Covered | Nature, Application, Distribution Channel, Region |
| Key Companies Profiled | Earth Balance; Miyoko's Creamery; Nutiva; Kite Hill; Wayfare; Forager Project; Follow Your Heart; Country Crock Plant Butter; I Can't Believe It's Not Butter! It's Vegan; Flora |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Throughout the forecast period, the Dairy-Free Spreads are expected to grow at a CAGR of 3.3%
By 2033, the Dairy-Free Spreads is expected to be worth USD 18.7 Billion.
• Health and wellness has been key driver for consumers for quite some time in the Market • Innovations and advancements in technologies
Currently, the North American region is at the top of the market share of Chickpeas.
It is estimated that the hypermarket ad supermarkets segment is likely to exert dominance over the forecast period.
Some of the key players in the Dairy-Free Spreads are Fonterra Co-Operative Group, All American Food, Inc., SmithFoods, Inc, Agri-Mark, Inc, Land O’ Lakes, Inc, Dairy Farmers of America, Associated Milk Producers, Inc., Bluegrass Dairy & Food, Inc, Arion Dairy Products B.V., Innova Food Ingredients S.A., and Sterling Agro Industries Ltd among other.
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Dairy-Free Spreads Market
