India dairy alternatives market is anticipated to project a robust growth in the forecast period, FY2022-FY2027 with an impressive CAGR of 11.36% on the account of changing lifestyle, rising health consciousness, increasing product innovation. Health campaigns initiatives by the government and rising disposable income is also driving the growth of the India dairy alternatives market in the upcoming five years.

Dairy alternatives are the products that resemble a milk-based product. Dairy alternatives, as opposed to animal-based products and are generally made out of plant-based ingredients. They are high in protein, nutritious vitamins, minerals, etc. They include products such as milk, butter, yogurt, cheese and others. Milk includes products such as soy milk, coconut milk, almond milk, rice milk, oat milk, etc. Butter includes peanut butter, almond butter, etc. Yogurt includes coconut milk yogurt, cashew milk yogurt, almond milk yogurt, etc. Cheese includes treeline cheese, cashew cheese, etc. The dairy alternatives market in India has expanded rapidly in recent years and is expected to expand further in the coming years as a result of rising urbanization and disposable income.


Over the forecast period, rising consumer awareness about personal health and well-being is expected to be a key factor driving the market for dairy alternatives in India. Other major factors driving market growth include animal-based traditional dairy products, which play a large role in causing food allergies. As a result, dairy product consumers are opting for vegan protein-based dairy alternatives, which is further fueling demand for dairy alternatives in India.


Although dairy alternatives are thought to be essential items, the strict COVID-19 lockdown imposed in India had a minor impact on retail sales. During the lockdown period, however, the online channel reported higher sales of dairy alternatives because it was the only safe and available option for consumers. The majority of businesses are selling their products through E-commerce channels; additionally, some brands, such as Raw Pressery and Goodmylk, offer subscription models.

 

Rising Lactose Intolerance Awareness Drives the Market Growth

Lactose intolerance affects 60-65% of the Indian population, which means they are unable to digest lactose due to factors such as hereditary lactase deficiency, age-related lactase deficiency, stress, poor eating habits, anxiety, and so on. Lactose intolerance is also becoming more common. As a result, people's preferences are shifting toward plant-based alternatives. Furthermore, several dairy industries are widely misusing antibiotics in order to meet India's high demand for dairy products. Antibiotics given to animals eventually affect consumers, paving the way for bigger problems in the future.

Rising Disposable Income Fueling the Market Growth

The rapid increase in family members' combined earnings is resulting in higher disposable income for consumers, significantly increasing their spending power. As a result, an increasing number of consumers nowadays are unwilling to compromise product quality regardless of cost and prefer to choose plant-based alternatives that are free of side effects and do not harm animals. This type of consumer behavior is positively influencing the dairy alternatives market in India.

Rising Awareness of Health Benefits Aids Market Growth

People are becoming increasingly hesitant to consume animal-based diets, particularly in the aftermath of the COVID-19 pandemic. They are becoming more aware of the benefits of plant-based beverages in their hectic lifestyles, prompting them to seek low-calorie, high-nutrient food alternatives. Furthermore, plant-based milk contains less saturated fat, more protein, carbohydrates, fibers, calcium, potassium, salt, and vitamins, as well as a healthy mix of mono- and polyunsaturated fats. It is especially beneficial for people who suffer from lifestyle diseases such as diabetes, hypertension, and so on. It is also beneficial to those who have a slow digestive system. Such benefits are causing a shift in consumer tastes and preferences and increasing inclination towards plant-based dairy alternatives.


Click here to download the sample

Market Segmentation

The India dairy alternatives market is segmented based on type, formulation, source, distribution channel, region, and competitional landscape. Based on type, the market is further fragmented into milk, butter, yogurt, cheese, others (ice cream, cream, tofu, smoothies, etc.). On the basis of formulation, market is bifurcated into unsweetened and sweetened. Also, segmentation of the market on grounds of source is done into soy, coconut, almond, others (rice, oats, hemp, walnut, hazelnut, cashew, etc.). Based on distribution channel, the market is segmented into grocery/convenience store, supermarket/hypermarket, online, others (specialty stores, pharmacies, direct sales, etc.). The market analysis also studies the regional segmentation to devise regional market segmentation, divided among north, south, west & east.

Company Profiles

Hershey India Private Ltd. (Sofit), Dr. Oetker India Pvt Ltd., Agro Tech Foods Limited (Sundrop), Life Health Foods India Private Limited (So Good), Rakyan Beverages Private Limited (RAW Pressery), Dabur India Limited (Hommade), Veganarke Enterprises Pvt Ltd (GoodMylk), Naturise Consumer Products Pvt Ltd (Only Earth), Drums Food International Private Limited (Epigamia), Istore Direct Trading Pvt Ltd (Urban Platter), Jus Amazin Food and Beverages Pvt. Ltd., etc. are among the major market players in the India platform that lead the market growth of the India dairy alternatives market.

Attribute

Details

Market Size Value in FY2021

USD 94.92 Million

Revenue Forecast in FY2027

USD 175.36 Million

Growth Rate

11.36%

Base Year

FY2021

Historical Years

FY2017 – FY2021

Estimated Year

FY2022

Forecast Period

FY2023 – FY2027

Quantitative Units

Revenue in USD Million, Volume in Million Liters and CAGR for FY2017-FY2021 and FY2022-FY2027

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

  • Type
  • Formulation
  • Source
  • Distribution Channel
  • Region
  • Company

Regional Scope

North, South, West & East

Key Companies Profiled

Hershey India Private Ltd. (Sofit), Dr. Oetker India Pvt Ltd., Agro Tech Foods Limited (Sundrop), Life Health Foods India Private Limited (So Good), Rakyan Beverages Private Limited (RAW Pressery), Dabur India Limited (Hommade), Veganarke Enterprises Pvt Ltd (GoodMylk), Naturise Consumer Products Pvt Ltd (Only Earth), Drums Food International Private Limited (Epigamia), Istore Direct Trading Pvt Ltd (Urban Platter), Jus Amazin Food and Beverages Pvt. Ltd., etc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, India dairy alternatives market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • India Dairy Alternatives Market, By Type:
    • Milk
    • Butter
    • Yogurt
    • Cheese
    • Others
  • India Dairy Alternatives Market, By Formulation:
    • Unsweetened
    • Sweetened
  • India Dairy Alternatives Market, By Source:
    • Soy
    • Coconut
    • Almond
    • Others
  • India Dairy Alternatives Market, By Distribution Channel:
    • Grocery/Convenience Store
    • Supermarket/Hypermarket
    • Online
    • Others
  • India Dairy Alternatives Market, By Region:
    • North
    • South
    • West
    • East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India dairy alternatives market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on India Dairy Alternatives Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Sources of Information

5.3.  Preferred Mode of Buying

5.4.  Factors Influencing Purchase Decision

5.5.  Frequency of Purchase

6.    India Dairy Alternative Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Type (Milk, Butter, Yogurt, Cheese, Others (Ice Cream, Cream, Tofu, Smoothies, etc.))

6.2.2.     By Formulation (Unsweetened and Sweetened)

6.2.3.     By Source (Soy, Coconut, Almond, Others (Rice, Oats, Hemp, Walnut, Hazelnut, Cashew, etc.))

6.2.4.     By Distribution Channel (Grocery/Convenience Store, Supermarket/Hypermarket, Online, Others (Specialty Stores, Pharmacies, Direct Sales, etc.))

6.2.5.     By Region

6.2.6.     By Company (FY2021)

6.3.  Market Map (Type, Region)

7.    India Milk Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Formulation

7.2.2.     By Distribution Channel

8.    India Butter Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Formulation

8.2.2.     By Distribution Channel

9.    India Yogurt Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Formulation

9.2.2.     By Distribution Channel

10.  India Cheese Market Outlook

10.1.             Market Size & Forecast

10.1.1.  By Value & Volume

10.2.             Market Share & Forecast

10.2.1.  By Formulation

10.2.2.  By Distribution Channel

11.  Supply Chain Analysis

12.  Import – Export Analysis

13.  Market Dynamics

13.1. Drivers

13.2. Challenges

14.  Market Trends and Developments

15.  India Economic Profile

16.  Competitive Landscape

16.1.             Hershey India Private Ltd. (Sofit)

16.2.             Dr. Oetker India Pvt Ltd.

16.3.             Agro Tech Foods Limited (Sundrop)

16.4.             Life Health Foods India Private Limited (So Good)

16.5.             Rakyan Beverages Private Limited (RAW Pressery)

16.6.             Dabur India Limited (Hommade)

16.7.             Veganarke Enterprises Pvt Ltd (GoodMylk)

16.8.             Naturise Consumer Products Pvt Ltd (Only Earth)

16.9.             Drums Food International Private Limited (Epigamia)

16.10.          Istore Direct Trading Pvt Ltd (Urban Platter)

16.11.          Jus Amazin Food and Beverages Pvt. Ltd.

17. Strategic Recommendations

18. About Us & Disclaimer

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]
  • Figure 1: India Dairy Alternatives Market Size, By Value (USD Million), By Volume (Million Liters), FY2017-FY2027F

    Figure 2: India Dairy Alternatives Market Share, By Type, By Value, FY2017-FY2027F

    Figure 3: India Dairy Alternatives Market Share, By Formulation, By Value, FY2017-FY2027F

    Figure 4: India Dairy Alternatives Market Share, By Source, By Value, FY2017-FY2027F

    Figure 5: India Dairy Alternatives Market Share, By Distribution Channel, By Value, FY2017-FY2027F

    Figure 6: India Dairy Alternatives Market Share, By Region, By Value, FY2017-FY2027F

    Figure 7: India Dairy Alternatives Market Share, By Company, By Value, FY2021

    Figure 8: India Dairy Alternatives Market Map, By Type, Market Size (USD Million) & Growth Rate (%), FY2021

    Figure 9: India Dairy Alternatives Market Map, By Region, Market Size (USD Million) & Growth Rate (%), FY2021

    Figure 10: India Milk Market Size, By Value (USD Million) and By Volume (Million Liters), FY2017-FY2027F

    Figure 11: India Milk Market Share, By Formulation, By Value, FY2017-FY2027F

    Figure 12: India Milk Market Share, By Distribution Channel, By Value, FY2017-FY2027F

    Figure 13: India Butter Market Size, By Value (USD Million) and By Volume (Million Liters), FY2017-FY2027F

    Figure 14: India Gross National Income Per Capita (USD), 2016-2020

    Figure 15: India Butter Market Share, By Formulation, By Value, FY2017-FY2027F

    Figure 16: India Butter Market Share, By Distribution Channel, By Value, FY2017-FY2027F

    Figure 17: India Yogurt Market Size, By Value (USD Million) and By Volume (Million Liters), FY2017-FY2027F

    Figure 18: India Gross Domestic Product (USD Million), 2016-2020

    Figure 19: India Yogurt Market Share, By Formulation, By Value, FY2017-FY2027F

    Figure 20: India Yogurt Market Share, By Distribution Channel, By Value, FY2017-FY2027F

    Figure 21: India Cheese Market Size, By Value (USD Million) and By Volume (Million Liters), FY2017-FY2027F

    Figure 22: India Urban Population (In Millions), 2016-2020

    Figure 23: India Cheese Market Share, By Formulation, By Value, FY2017-FY2027F

    Figure 24: India Cheese Market Share, By Distribution Channel, By Value, FY2017-FY2027F

    Figure 25: India Imports of Soya beans; whether or not broken, By Value (USD Million), 2016-2020

    Figure 26: India Exports of Soya beans; whether or not broken, By Value (USD Million), 2016-2020

    Figure 27: India Imports of Nuts, edible; almond, fresh or dried, shelled, By Value (USD Million), 2016-2020

    Figure 28: India Exports of Nuts, edible; almond, fresh or dried, shelled, By Value (USD Million), 2016-2020

    Figure 29: India Nuts, edible; coconuts, fresh or dried, whether or not shelled or peeled, desiccated, By Value (USD Million), 2017-2020

    Figure 30: India Nuts, edible; coconuts, fresh or dried, whether or not shelled or peeled, desiccated, By Value (USD Million), 2017-2020

    List of Table:

    Table 1: Top 5 Companies with their Key Offerings, FY2021