Dairy Alternatives Market Is Projected to Offer Huge Growth Potential by 2026

Northbrook, IL -- (SBWIRE) -- 10/14/2021 -- The Dairy Alternatives Market size is estimated to be valued at USD 22.6 billion in 2020. It is projected to reach USD 40.6 billion by 2026, recording a CAGR of 10.3% in terms of value. The increasing demand for lactose-free food and beverage products is driving the global dairy alternatives market. The most popular alternatives for dairy are plant-based beverages, which are gaining popularity as substitutes for milk and milk products. Consumers are adopting a dairy-free diet due to increasing incidences of lactose intolerance, allergies from milk or milk-based products, and a shift in consumer preference toward vegan diets and healthy lifestyles. With immense preferences for low-calorie and low-fat formulations, plain & unsweetened formulations of dairy alternatives are widely prevalent