Dairy Free Evaporated Milk Market Size - By Source (Soy, Almond, Coconut, Oats, Rice), By Form (Liquid, Powder), By Application (Bakery Products, Confectionery, Beverages, Infant Formula, Ready-to-Eat Meals) & Forecast, 2024-2032

Dairy Free Evaporated Milk Market Size

Dairy Free Evaporated Milk Market size was valued at USD 1.7 billion in 2023 and is projected to expand at over 8.7% CAGR from 2024 to 2032. The market offers plant-based alternatives to traditional evaporated milk, targeting consumers who prefer lactose-free and vegan choices. This market features a range of plant-based sources, such as almond, soy, and oat milk. These alternatives find applications in baking, cooking, and beverage preparation.
 

According to data from the U.S. Department of Agriculture (USDA), consumer awareness of lactose intolerance has increased by 15% over the past five years. Additionally, the U.S. Census Bureau reports a 10% annual growth in the vegan population. These factors, along with a broader shift towards healthier, sustainable diets, present significant growth opportunities. Furthermore, innovations in flavor and texture, coupled with an expansion of distribution channels and regional markets—especially in North America and Europe—are propelling this growth. With the rising demand for dairy-free products, the market is set for further expansion.
 

The dairy-free evaporated milk market is primarily driven by two factors such as the increasing prevalence of lactose intolerance and the rising popularity of vegan and plant-based diets. According to the National Institutes of Health, approximately 68% of the global population experiences some form of lactose malabsorption, leading to a heightened demand for dairy alternatives.
 

At the same time, the growing trend of veganism, coupled with health-conscious eating habits, amplifies the preference for plant-based products, including dairy-free evaporated milk. These trends are further bolstered by advancements in product formulation, which have improved the taste and texture of dairy-free options. Additionally, the expanding availability of these products through diverse retail channels has played a pivotal role in the market's robust growth and broader consumer acceptance.
 

The dairy-free evaporated milk market grapples with two primary challenges such as elevated production costs and issues with taste consistency. The production of dairy-free evaporated milk frequently requires pricier raw materials and sophisticated processing methods. As a result, these products often carry a higher retail price than their traditional dairy counterparts.
 

Moreover, replicating the creamy texture and flavor profile of dairy-based evaporated milk proves to be a challenge, potentially impacting how consumers perceive and accept the product. Such hurdles can stifle market growth, as they limit both affordability and consumer satisfaction. This underscores the need for continuous innovation and adept cost-management strategies to enhance product quality and bolster competitiveness in the market.
 

Dairy Free Evaporated Milk Market Trends

The dairy-free evaporated milk industry is witnessing several pivotal trends. Consumers are increasingly gravitating towards plant-based and lactose-free alternatives, influenced by health considerations, dietary restrictions, and environmental concerns. According to the USDA, the demand for plant-based milk alternatives has grown by 61% over the past five years. Innovations in formulations are not only enhancing taste and texture but also improving nutritional profiles to closely resemble traditional dairy products.
 

Furthermore, the market is diversifying, with a range of options such as almond, soy, oat, and coconut-based evaporated milks emerging to cater to varied consumer tastes. Retail channels, especially online platforms, are expanding, making these products more accessible. In addition, brands are prioritizing sustainable packaging and clean-label ingredients, targeting environmentally conscious and health-focused consumers.
 

Dairy Free Evaporated Milk Market Analysis

The market from soy is anticipated to reach USD 1.2 billion by 2032, growing at a CAGR of over 8.5% during the forecast period. The scope of the soy segment in the dairy-free evaporated milk market is substantial and growing. Soy-based evaporated milk is popular due to its high protein content, creamy texture, and neutral flavor, which makes it a versatile alternative in both cooking and baking. It appeals to consumers seeking a dairy-free option with nutritional benefits similar to traditional milk.
 

The segment's growth is driven by increasing awareness of soy's health benefits, such as its role in reducing cholesterol and supporting heart health. Additionally, soy’s established market presence and widespread availability enhance its appeal, supporting its expansion in the dairy-free evaporated milk sector.
 

The dairy free evaporated milk market share from the liquid segment will observe around 8.6% CAGR through 2032 with a market size of USD 2.5 billion. The liquid segment of the market encompasses a variety of plant-based milk options that are processed into a concentrated, evaporated form. This segment includes almond, soy, oat, coconut, and rice-based liquids, each offering unique flavors and nutritional profiles.
 

The scope of the liquid segment is broad, addressing diverse consumer needs for dairy alternatives in cooking, baking, and beverages. It is driven by increasing demand for lactose-free and vegan products, as well as innovations in product formulations that enhance flavor, texture, and shelf life. Growth in this segment is supported by expanding distribution channels and rising consumer awareness.
 

The dairy free evaporated milk market share from the bakery products will observe around 8.9% CAGR through 2032 with a market size of USD 1.3 billion. In the dairy-free evaporated milk industry, the scope within bakery products is expanding as more consumers seek plant-based alternatives for baking and cooking. Dairy-free evaporated milk serves as a versatile ingredient in recipes such as cakes, cookies, and pastries, providing the desired texture and creaminess without dairy.
 

This trend is driven by the rising popularity of vegan and lactose-free diets, prompting bakeries and home cooks to adopt dairy-free options. The versatility of dairy-free evaporated milk in both sweet and savory baked goods enhances its appeal, contributing to its growing use in the bakery segment and broadening market opportunities.
 

North America dairy free evaporated milk market will record a market size of about USD 1.2 billion and 8.5% CAGR during 2024 and 2032, driven by increasing consumer demand for plant-based and lactose-free alternatives. This growth is fueled by a rise in veganism, lactose intolerance awareness, and health-conscious eating trends.
 

The market is characterized by a diverse range of products, including almond, soy, and oat-based evaporated milks, catering to varied consumer preferences. Key players are expanding their offerings and distribution channels to meet rising demand. Additionally, the presence of well-established retail networks and online platforms in North America further supports market growth, making dairy-free evaporated milk more accessible to consumers across the region.
 

Dairy Free Evaporated Milk Market Share

Companies in the dairy-free evaporated milk industry are adopting several key strategies to drive growth and capture market share. They are focusing on product innovation by developing diverse formulations, such as almond, soy, and oat-based options, to meet varying consumer preferences. Enhanced flavor and texture profiles are being prioritized to closely mimic traditional dairy products. Strategic partnerships with retailers and expansion into online channels are improving market reach and accessibility.
 

Additionally, companies are investing in sustainable packaging and clean-label ingredients to appeal to eco-conscious and health-focused consumers. Effective marketing and educational campaigns are also employed to raise awareness and drive adoption.
 

Dairy Free Evaporated Milk Market Companies

Top companies operating in the dairy free evaporated milk industry include:

• Nestle S.A
• DariFree
• Nature’s Charm
• Thai Coconut Public Company Limited
• Vega Foods Corporation
• Turtle Mountain
• Pacific Foods
• Malk Organics
• Forager Project

Dairy Free Evaporated Milk Industry News

• Nature’s Charm offers a gluten-free, lactose-free, and vegan evaporated coconut milk that facilitates the creation of plant-based dishes, contributing to the growth of the dairy-free evaporated milk industry.
   

The dairy free evaporated milk market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue and volume (USD Billion) (Kilo Tons) from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Source

• Soy
• Almond
• Coconut
• Oats
• Rice
• Others (Hemp, Pea, etc.)

Market, By Form

• Liquid
• Powder

Market, By Application

• Bakery Products
• Confectionery
• Beverages
• Infant Formula
• Ready-to-Eat Meals

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA