FMI predicts the almonds segment to account for 9.8% share in the global market. This is due to increasing usage of almonds for making dairy free cream. The market for dairy-free milk is anticipated to be worth US$ 413.9 million in 2023 and US$ 777 million by 2033. The United Kingdom, the United States, China, and India are expected to emerge as major producers as the market for dairy-free cream is predicted to increase at a steady 7.2% CAGR.
Leading dairy free cream manufacturers in the USA have developed a wide range of products, including almond-based creams and soy creams that are completely dairy-free and highly nutritious. These products are becoming increasingly popular as they provide customers with a healthy alternative to traditional dairy-based products.
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Further, for offering a healthy alternative, these products are also made with sustainable ingredients, such as organic and non-GMO almonds. This is especially beneficial for those looking to reduce their environmental footprint.
Almond-based dairy free creams can be found in a variety of flavors, such as vanilla, chocolate, and peanut butter. These products are quickly gaining popularity with consumers as they are delicious, nutritious, and great for those with allergies or dietary restrictions.
Companies are also working closely with consumers to develop innovative dairy free products and ensure dairy free lovers’ expectations are met. These products are quickly gaining popularity as they more closely mimic diary-based creams. For instance, in December 2022, Bel Brands announced the release of animal-free cream cheese alternative in collaboration with Perfect Day.
Key Takeaways from the Dairy Free Cream Market
- The global dairy free cream market is projected to expand at a 2% CAGR from 2023 to 2033.
- Revenue of US$ 413.9 million is expected to be generated from the sales of dairy free cream in 2023.
- In 2033, the global dairy free cream market is forecast to exceed a valuation of US$ 777 million.
- Growing popularity of almond-based dairy free creams is expected to boost sales in the USA.
“Almonds are used as a main ingredient to produce dairy free cream in the United States of America. Hence, key players are working on producing novel products to differentiate their products from competitors,” says an FMI Analyst.
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Competition Landscape in the Dairy Free Cream Market
The market for dairy-free cream is quite competitive, with several manufacturers competing to provide a variety of products. The market’s leading participants are working on developing their brand and distribution system. These businesses dominate the industry and have a substantial market share because of their extensive product lines and reliable distribution systems.
Califia Farms, Nature’s Fynd, and Bel Brands are key companies in the United States dairy free cream market.
Recent Developments:
- In November 2022, leading vegan beverage company Califia Farms added a new item to its excellent selection of dairy-free products. Heavy Whip is a dairy-free alternative to heavy whipping cream that is great for whipping, cooking, and baking. It is destined to become a mainstay in dairy-free kitchens.
- In January 2023, dairy-free sour cream substitute was launched in 883 Walmart locations by Violife.
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Key Segments
Product Type:
- Soy cream
- Almond cream
- Oat cream
- Coconut cream
- Others
Source of Ingredients:
- Soy
- Almonds
- Oats
- Coconuts
Application:
- Baking
- Cooking
- Topping
Distribution channel:
- Supermarkets
- Grocery stores
- Health food stores
- Online
End-use:
- Commercial
- Household
Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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