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 regions.
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:
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:
On the basis of nature, the dairy-free evaporated milk market can be segmented as:
On the basis of type, the dairy-free evaporated milk market can be segmented as:
On the basis of source, the dairy-free evaporated milk market can be segmented as:
On the basis of end use, the dairy-free evaporated milk market can be segmented as:
On the basis of distribution channel, the dairy-free evaporated milk market can be segmented as:
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Apr 27, 2023
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