Australia Non-Dairy Milk Market Insights Forecasts to 2033

• The Australia Non-Dairy Milk Market Size was valued at USD 325.56 Million in 2023.
• The Market Size is Growing at a CAGR of 10.28% from 2023 to 2033
• The Australia Non-Dairy Milk Market Size is Expected to Reach USD 865.90 Million by 2033

The Australia Non-Dairy Milk Market is Anticipated to exceed USD 865.90 Million by 2033, growing at a CAGR of 10.28% from 2023 to 2033. Growth in the non-dairy milk market is mostly driven by innovation. In order to satisfy different dietary requirements and appeal to a wider range of consumers, manufacturers are always experimenting with novel flavors and formulations.

Market Overview

The Australian food and beverage industry that manufactures and markets plant-based substitutes for conventional dairy milk is known as the Australia non-dairy milk market. This market offers a range of plant-based non-dairy milk products, including those manufactured from cashews, rice, coconut, oats, almonds, and soy. The general purpose of these products is to provide a vegan, lactose-free, and allergy-friendly substitute for cow's milk. The growing demand for plant-based milk substitutes is being met by the vibrant and growing Australia non-dairy milk market. The market for non-dairy milk is being driven by rising health and nutrition consciousness along with the health-conscious consumers looking for dairy substitutes. The implementation of innovative features such as scheduled deliveries, subscription models, and real-time inventory tracking by these platforms for enhancing customer convenience and retention are contributing to escalating the market growth opportunity.     

Report Coverage

This research report categorizes the market for the Australia non-dairy milk market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia non-dairy milk market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia non-dairy milk market.

Driving Factors

Non-dairy milk demand has increased as a result of health-conscious consumers looking for dairy substitutes. Price and flavor are the main factors popularity of dairy products, and shifting lifestyle, health, and consumption patterns are driving the growth of the Australia non-dairy milk market. Growing incomes, a changing lifestyle, the number of working middle-class people, and other socioeconomic reasons are driving the Australia non-milk market. The rising demand and popularity of non-dairy ice cream and yogurt are driving the Australia non-dairy milk market.   

Restraining Factors

The high costs of production and distribution are one of the major growth restrictions of the non-dairy milk market.     

Market Segmentation

The Australia non-dairy milk market share is classified into product type and distribution channel.

• The soy milk segment accounted for the largest share of the Australia non-dairy milk market in 2023 and is anticipated to grow at a significant CAGR during the forecast period     

On the basis of product type, the global Australia non-dairy milk market is divided into almond milk, cashew milk, coconut milk, hazelnut milk, oat milk, and soy milk. Among these, the soy milk segment accounted for the largest share of the Australia non-dairy milk market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The market for soy milk has grown as a result of the rising number of people who are lactose intolerant and increased knowledge of its health advantages, such as its high omega-3 fatty acid content and ability to lower the risk of certain diseases.   

• The off-trade segment accounted for a substantial share of the Australia non-dairy milk market in 2023 and is anticipated to grow at a rapid pace during the projected period.         

On the basis of distribution channel, the Australia non-dairy milk market is divided into off-trade and on-trade. Among these, the off-trade segment accounted for a substantial share of the Australia non-dairy milk market in 2023 and is anticipated to grow at a rapid pace during the projected period. The main retail venues for plant-based milk products are supermarkets and hypermarkets, which drive the off-trade segmental market growth.    

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Australia non-dairy milk market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Blue Diamond Growers
• PureHarvest
• Vitasoy International Holdings Ltd
• Oatly Group AB
• Sanitarium Health and Wellbeing Company
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In September 2022, the Vitasoy Plant+ line of plant milk was launched to the Singaporean market by Vitasoy. These plant-based milk substitutes come in soy, almond, and oat variants and are low in sugar, high in calcium, and cholesterol-free.   

Market Segment

This study forecasts revenue at Australia, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Australia non-dairy milk market based on the below-mentioned segments:

Australia Non-Dairy Milk Market, By Product Type

• Almond Milk
• Cashew Milk
• Coconut Milk
• Hazelnut Milk
• Oat Milk
• Soy Milk

Australia Non-Dairy Milk Market, By Distribution Channel

• Off-Trade
• On-Trade