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The dairy alternatives market is estimated at USD 27.0 billion in 2023 and is projected to reach USD 43.6 billion by 2028, at a CAGR of 10.1% from 2023 to 2028 according to a report published by MarketsandMarkets™. Plant-based dairy alternatives offer a range of nutritional benefits that make them a popular choice for individuals seeking a healthier and more sustainable alternative to traditional dairy products. The consumption of plant-based dairy alternatives has seen a rise due to their nutritional advantages, which include lowered cholesterol levels, enhanced cardiovascular well-being, and improved diabetes management. Numerous plant-based milk substitutes, including soy milk, almond milk, oat milk, and rice milk, boast lower fat and calorie content when compared to cow's milk.

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