The majority of the time, dairy-free evaporated milk is used to make desserts and treats for parties at home, like pie, cake, and cookies. With a CAGR of 12.3%, the market for dairy-free evaporated milk is expected to grow its share of the global market. The market is expected to be worth US$ 25.85 billion in 2022 and US$ 73.43 billion by 2032.
Dairy-free evaporated milk has a caramel flavour profile as a result of the evaporation process. Both dry and liquid forms of the dairy-free evaporated milk are sold in the market. After boiling away the milk’s 60% water content, dairy-free evaporated milk is the condensed version of the dairy-free milk.
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Almond, soy, coconut, and hemp seeds, nuts, and other cereals, among others, can be used to make dairy-free milk. Compared to dairy-based evaporated milk, plant-based evaporated milk contains a variety of nutritious elements and is also offered in fortified forms, such as Vitamin D.
New and Innovative Plant-based Products and Increasing Consumer Awareness is Driving the Global Market of Dairy-free Evaporated Milk
The global market for dairy-free evaporated milk is driven by the increasing percentage of lactose intolerance in the world. The lactose intolerant population is concentrated in Latin American, African, and Asian region. And with the increasing prevalence of the lactose intolerance around the world the plant-based products have increased demand.
Also, due to the increasing percentage of vegetarians, as well as flexitarians in the developed nations and similar trend rising in the developing nations, the overall demand for the dairy-free evaporated milk is increasing in the global market.
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Dairy-free Evaporated Milk Market: Key Participants
Some of the market participants in the dairy-free evaporated milk market are:
- Nestlé S.A.
- DariFree
- Nature’s Charm
- Thai Coconut Public Company Limited
- Vega Foods Corporation Pvt. Ltd.
Dairy-free Evaporated Milk Market Segmentation
The dairy-free evaporated milk market can be segmented on the basis of form, nature, source, end use, and distribution channel.
On the basis of form, the dairy-free evaporated milk market can be segmented as:
- Dry
- Liquid
On the basis of nature, the dairy-free evaporated milk market can be segmented as:
- Organic
- Conventional
On the basis of type, the dairy-free evaporated milk market can be segmented as:
- Sweetened
- Unsweetened
On the basis of source, the dairy-free evaporated milk market can be segmented as:
- Coconut Milk
- Soy Milk
- Oat Milk
- Other
On the basis of end use, the dairy-free evaporated milk market can be segmented as:
- Bakery and Confectionery
- Dairy Products
- Sauces, Soups, and Dressings
On the basis of distribution channel, the dairy-free evaporated milk market can be segmented as:
- Direct Sales Channel/ B2B
- Indirect Sales Channel/B2C
- Hypermarket/Supermarket
- Specialty Stores
- Online Retail
- Other Retail Format
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Frequently Asked Questions
- What is the Dairy-free Evaporated Milk Market Growth Outlook?
- What Region is the Fastest Growing Dairy-free Evaporated Milk Market?
- Which is the Key Driver in the Dairy-free Evaporated Milk Market?
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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