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Dairy Free Evaporated Milk Market Trends

Report ID: GMI11156
Published Date: Aug 2024
Report Format: PDF

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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.

Authors: Kiran Pulidindi , Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of dairy free evaporated milk reached USD 1.7 billion in 2023 and is set to expand at over 8.7% CAGR from 2024 to 2032, as it offers plant-based alternatives to traditional evaporated milk, targeting consumers who prefer lactose-free and vegan choices.

The soy segment will reach USD 1.2 billion by 2032, due to its high protein content, creamy texture, and neutral flavor, which makes it a versatile alternative in both cooking and baking.

North America market will grow at 8.5% CAGR during 2024 and 2032, driven by increasing consumer demand for plant-based and lactose-free alternatives.

Nestle S.A, DariFree, Nature’s Charm, Thai Coconut Public Company Limited, Vega Foods Corporation, Turtle Mountain, Pacific Foods among others.