Middle East & Africa Dairy Alternatives Market Forecast to 2028 – COVID

Middle East & Africa Dairy Alternatives Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Source (Soy, Almond, Coconut, Oats, and Others), Product Type (Milk, Ice Cream, Yogurt, Cheese, and Others), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)

Report Code : BMIRE00026301 | Region : LAMEA | Industry : Food and Beverages | Published Date : 26/Sep/2022

The MEA dairy alternatives market is expected to grow from US$ 890.54 million in 2022 to US$ 1,730.50 million by 2028. It is estimated to grow at a CAGR of 11.7% from 2022 to 2028.

Dairy alternative manufacturers are investing significantly in product innovation to appeal to a large group of consumers. Product innovation strategy offers a competitive edge to the players operating in the market, boosting their profitability. Manufacturers of dairy alternatives provide certified organic, non-GMO, gluten-free, clean-label, and allergen-free products to cater to ever-rising customer requirements.

Moreover, consumers have become health-conscious and prefer low-calorie and low-fat products. Therefore, manufacturers of plant-based dairy offer unsweetened and low-sugar products. Further, manufacturers are experimenting with different plant-based milk sources, such as barley, peas, hemp, chia seeds, bananas, and cashews.

Generally, plant-based ice cream manufacturers use almond milk, coconut milk, or oat milk. Several innovations open new opportunities in the dairy alternatives market. Leading manufacturers of dairy alternatives are developing products that resemble the taste and texture of conventional dairy milk to attract many consumers. Several product developments are further expected to provide potential growth opportunities to manufacturers of dairy alternatives in the coming years across the region.

Vendors can attract new customers and expand their footprints in emerging markets with new features and technologies. This factor is likely to drive the MEA dairy alternatives market at an attractive CAGR during the forecast period.

MEA Dairy Alternatives Market Revenue and Forecast to 2028 (US$ Million)

MEA Dairy Alternatives Market Segmentation

The MEA dairy alternatives market is segmented based on source, product type, distribution channel, and country. Based on product type, the market is segmented into milk, ice cream, yogurt, cheese, and others. The milk segment dominated the market in 2022.

Based on source, the market is segmented into soy, almond, coconut, oats, and others. The almond segment dominated the market in 2022. Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment dominated the market in 2022. Based on country, the market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of the MEA. The Rest of the MEA dominated the market in 2022. Blue Diamond Growers; Califia Farms, LLC; Danone S.A.; Nestlé SA; Oatly Inc.; and Valio Ltd are the leading companies in the MEA dairy alternatives market.

At 11.7% CAGR, the MEA Dairy Alternatives Market is speculated to be worth US$ 1,730.50 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the MEA dairy alternatives market was valued at US$ 890.54 million in 2022 and is expected to reach US$ 1,730.50 million by 2028, registering an annual growth rate of 11.7% from 2022 to 2028. Surging demand for functional dairy alternatives and product innovation are the critical factors attributed to the market expansion.

Nowadays, consumers are increasingly seeking functional benefits from the products they consume. They are looking for products with high nutrient content to fulfill their daily nutritional requirements. Consumers are rapidly switching to plant-based food. However, some consumers are concerned about the lack of protein content in plant-based foods. The manufacturers of dairy alternatives are developing that product to meet the requirements of potential consumers. Further, the dairy alternatives manufacturers also include functional ingredients, such as antioxidants, collagens, adaptogens, and nootropics, in their products to meet the rising demand for functional dairy alternatives. A manufacturer of plant-based lattes launched a new line of functional oat milk lattes with added ingredients such as collagen, adaptogen, and antioxidants. The oats milk latte is cold brew and is certified organic. The addition of functional ingredients enhances the popularity of the products and boosts their adoption among consumers. Thus, the surging demand for functional dairy alternatives is expected to drive the growth of the dairy alternatives market over the forecast period across the region.

On the contrary, high product price hurdles the growth of MEA dairy alternatives market.

Based on product type, the MEA dairy alternatives market is segmented into milk, ice cream, yogurt, cheese, and others. The milk segment held 68.2% market share in 2022, amassing US$ 607.77 million. It is projected to garner US$ 1,173.55 million by 2028 to expand at 11.6% CAGR during 2022–2028.

Based on source, the MEA dairy alternatives market is segmented into soy, almond, coconut, oats, and others. The soy segment held 62.6% market share in 2022, amassing US$ 557.44 million. It is projected to garner US$ 1,071.26 million by 2028 to expand at 11.5% CAGR during 2022–2028.

Based on distribution channel, the the MEA dairy alternatives market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held 64.6% market share in 2022, amassing US$ 575.10 million. It is projected to garner US$ 1,108.02 million by 2028 to expand at 11.5% CAGR during 2022–2028.

Based on country, the MEA dairy alternatives market has been categorised into the UAE, Saudi Arabia, South Africa, and rest of MEA. Our regional analysis states that rest of MEA captured 75.0% market share in 2022. It was assessed at US$ 667.55 million in 2022 and is likely to hit US$ 1,286.28 million by 2028, exhibiting a CAGR of 11.6% during the forecast period.

Key players dominating the MEA dairy alternatives market are Blue Diamond Growers; Califia Farms, LLC; Danone S.A.; Nestlé SA; Oatly Inc.; and Valio Ltd among others.

• In 2021, Blue Diamond Growers introduces new, delicious ‘Almond Breeze’ extra creamy almondmilk for a perfect plant-based swap for whole dairy milk.

• In 2021, Danone S.A. launched new milk alternative platform.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection:

3.2.2 Primary Interviews:

3.2.3 Hypothesis Formulation:

3.2.4 Macro-economic Factor Analysis:

3.2.5 Developing Base Number:

3.2.6 Data Triangulation:

3.2.7 Country Level Data:

4. MEA Dairy Alternatives Market Landscape

4.1 Market Overview

4.2 Porter's Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Buyers

4.2.3 Threat of New Entrants

4.2.4 Competitive Rivalry

4.2.5 Threat of Substitutes

4.3 Expert Opinion

5. MEA Dairy Alternatives Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Rising Trend of Veganism

5.1.2 Increasing Prevalence of Lactose Intolerance

5.2 Market Restraints

5.2.1 High Product Price

5.3 Market Opportunities

5.3.1 Product Innovation

5.4 Future Trends

5.4.1 Surging Demand for Functional Dairy Alternatives

5.5 Impact Analysis of Drivers and Restraints

6. Dairy Alternatives Market – MEA Analysis

6.1 MEA Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

7. MEA Dairy Alternatives Market Analysis – By Product Type

7.1 Overview

7.2 MEA Dairy Alternatives Market, By Product Type (2021 and 2028)

7.3 Milk

7.3.1 Overview

7.3.2 Milk: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

7.4 Ice Cream

7.4.1 Overview

7.4.2 Ice Cream: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

7.5 Yogurt

7.5.1 Overview

7.5.2 Yogurt: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

7.6 Cheese

7.6.1 Overview

7.6.2 Cheese: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

7.7 Others

7.7.1 Overview

7.7.2 Others: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

8. MEA Dairy Alternatives Market Analysis – By Source

8.1 Overview

8.2 MEA Dairy Alternatives Market, By Source (2021 and 2028)

8.3 Soy

8.3.1 Overview

8.3.2 Soy: Dairy Alternatives Market – Revenue and Forecast to 2028 (US$ Million)

8.4 Almond

8.4.1 Overview

8.4.2 Almond: Dairy Alternatives Market – Revenue and Forecast to 2028 (US$ Million)

8.5 Coconut

8.5.1 Overview

8.5.2 Coconut: Dairy Alternatives Market – Revenue and Forecast to 2028 (US$ Million)

8.6 Oats

8.6.1 Overview

8.6.2 Oats: Dairy Alternatives Market – Revenue and Forecast to 2028 (US$ Million)

8.7 Others

8.7.1 Overview

8.7.2 Others: Dairy Alternatives Market – Revenue and Forecast to 2028 (US$ Million)

9. MEA Dairy Alternatives Market Analysis – By Distribution Channel

9.1 Overview

9.2 MEA Dairy Alternatives Market, By Distribution Channel (2021 and 2028)

9.3 Supermarkets & Hypermarkets

9.3.1 Overview

9.3.2 Supermarkets & Hypermarkets: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

9.4 Convenience Stores

9.4.1 Overview

9.4.2 Convenience Stores: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

9.5 Online Retail

9.5.1 Overview

9.5.2 Online Retail: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

9.6 Others

9.6.1 Overview

9.6.2 Others: Dairy Alternatives Market– Revenue and Forecast to 2028 (US$ Million)

10. MEA Dairy Alternatives Market – Country Analysis

10.1 Overview

10.1.1 MEA: Dairy Alternatives Market, by Key Country

10.1.1.1 South Africa: Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1 South Africa: Dairy Alternatives Market, By Product Type

10.1.1.1.2 South Africa: Dairy Alternatives Market, by Source

10.1.1.1.3 South Africa: Dairy Alternatives Market, by Distribution Channel

10.1.1.2 Saudi Arabia: Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1 Saudi Arabia: Dairy Alternatives Market, By Product Type

10.1.1.2.2 Saudi Arabia: Dairy Alternatives Market, by Source

10.1.1.2.3 Saudi Arabia: Dairy Alternatives Market, by Distribution Channel

10.1.1.3 UAE: Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1 UAE: Dairy Alternatives Market, By Product Type

10.1.1.3.2 UAE: Dairy Alternatives Market, by Source

10.1.1.3.3 UAE: Dairy Alternatives Market, by Distribution Channel

10.1.1.4 Rest of MEA: Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.4.1 Rest of MEA: Dairy Alternatives Market, By Product Type

10.1.1.4.2 Rest of MEA: Dairy Alternatives Market, by Source

10.1.1.4.3 Rest of MEA: Dairy Alternatives Market, by Distribution Channel

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 New Product Development

12. Company Profiles

12.1 Blue Diamond Growers

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Nestlé SA

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Danone S.A.

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Oatly Inc.

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Califia Farms, LLC

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Valio Ltd

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES.

Table 1. MEA Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

Table 2. South Africa Dairy Alternatives Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 3. South Africa Dairy Alternatives Market, by Source – Revenue and Forecast to 2028 (US$ Million)

Table 4. South Africa Dairy Alternatives Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 5. Saudi Arabia Dairy Alternatives Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 6. Saudi Arabia Dairy Alternatives Market, by Source – Revenue and Forecast to 2028 (US$ Million)

Table 7. Saudi Arabia Dairy Alternatives Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 8. UAE Dairy Alternatives Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 9. UAE Dairy Alternatives Market, by Source – Revenue and Forecast to 2028 (US$ Million)

Table 10. UAE Dairy Alternatives Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 11. Rest of MEA Dairy Alternatives Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 12. Rest of MEA Dairy Alternatives Market, by Source – Revenue and Forecast to 2028 (US$ Million)

Table 13. Rest of MEA Dairy Alternatives Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 14. List of Abbreviation

LIST OF FIGURES.

Figure 1. MEA Dairy Alternatives Market Segmentation

Figure 2. MEA Dairy Alternatives Market Segmentation – By Country

Figure 3. MEA Dairy Alternatives Market Overview

Figure 4. MEA Dairy Alternatives Market: By Product Type

Figure 5. MEA Dairy Alternatives Market: By Country

Figure 6. Porter's Five Forces Analysis

Figure 7. Expert Opinion

Figure 8. MEA Dairy Alternatives Market Impact Analysis of Drivers and Restraints

Figure 9. MEA: Dairy Alternatives Market – Revenue and Forecast to 2028 (US$ Million)

Figure 10. MEA Dairy Alternatives Market Revenue Share, By Product Type (2021 and 2028)

Figure 11. MEA Milk: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 12. MEA Ice Cream: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 13. MEA Yogurt: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 14. MEA Cheese: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 15. MEA Others: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 16. MEA Dairy Alternatives Market Revenue Share, By Source (2021 and 2028)

Figure 17. MEA Soy: Dairy Alternatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 18. MEA Almond: Dairy Alternatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 19. MEA Coconut: Dairy Alternatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 20. MEA Oats: Dairy Alternatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 21. MEA Others: Dairy Alternatives Market – Revenue and Forecast To 2028 (US$ Million)

Figure 22. MEA Dairy Alternatives Market Revenue Share, By Distribution Channel (2021 and 2028)

Figure 23. MEA Supermarkets & Hypermarkets: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 24. MEA Convenience Stores: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 25. MEA Online Retail: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 26. MEA Others: Dairy Alternatives Market– Revenue and Forecast To 2028 (US$ Million)

Figure 27. MEA: Dairy Alternatives Market, by Key Country – Revenue (2021) (US$ Million)

Figure 28. MEA: Dairy Alternatives Market Revenue Share, by Key Country (2021 and 2028)

Figure 29. South Africa: Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 30. Saudi Arabia: Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 31. UAE: Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

Figure 32. Rest of MEA: Dairy Alternatives Market –Revenue and Forecast to 2028 (US$ Million)

The List of Companies - Middle East & Africa Dairy Alternatives Market

● Blue Diamond Growers

● Califia Farms, LLC

● Danone S.A.

● Nestlé SA

● Oatly Inc.

● Valio Ltd

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the MEA dairy alternatives market.

● Highlights key business priorities in order to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in the MEA dairy alternatives market, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the dairy alternatives market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

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