Dairy Substitutes Market Report Analysis by Various Services and Forecast to 2027 | Charles & Colvard, Moissanite International, Amora

Description

The global dairy substitute market is estimated at USD 20.50 billion by 2020 and is expected to grow at a combined annual growth rate (CAGR) of 12.5% ??from 2021 to 2028. on consumer food patterns and changes in eating habits. The increasing incidence of milk allergies and lactose intolerance cases is expected to further the need for alternative milks in the predictive period. Many food and beverage products use alternatives to dairy products to attract growing consumers who prefer to use vegetables and other dairy products. Soy milk is expected to gain popularity in the US among older consumers and women as it contains isoflavones, which are said to reduce the risk of heart disease and breast cancer. Soy also contains phytoestrogen, which works similarly to the female hormone estrogen. Soy milk drinking is popular as an alternative treatment among women to increase estrogen levels, which is also expected to boost the market.