India Dairy Alternatives Market By Type (Milk, Butter, Yogurt, Cheese, Others (Ice Cream, Cream, Tofu, Smoothies, etc.)), By Formulation (Unsweetened and Sweetened), By Source (Soy, Coconut, Almond, Others (Rice, Oats, Hemp, Walnut, Hazelnut, Cashew, etc.)), By Distribution Channel (Grocery/Convenience Store, Supermarket/Hypermarket, Online, Others (Specialty Stores, Pharmacies, Direct Sales, etc.)), By Region, Competition, Forecast & Opportunities, FY2017-FY2027

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.

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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.

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