Dairy Free Evaporated Milk Market 2025 to Grow at 8.7 CAGR with 1.7 Billion Market Size: Analysis and Forecasts 2033

Key Insights

The size of the Dairy Free Evaporated Milk Market was valued at USD 1.7 Billion in 2024 and is projected to reach USD 3.05 Billion by 2033, with an expected CAGR of 8.7% during the forecast period. Dairy-free evaporated milk is a plant-based alternative to traditional evaporated milk, designed to cater to individuals who are lactose intolerant, vegan, or have dairy allergies. Evaporated milk is produced by heating regular milk to remove about 60% of its water content, resulting in a rich, concentrated product with a creamy texture. In the case of dairy-free evaporated milk, this process is adapted using plant-based milks such as coconut milk, almond milk, or oat milk. These plant-based milks are chosen for their ability to mimic the texture and consistency of cow's milk while maintaining a neutral or mildly sweet flavor, which is key in replicating the properties of regular evaporated milk. The process of making dairy-free evaporated milk involves simmering the chosen plant-based milk to reduce its water content. The milk is typically sweetened or fortified with additional ingredients such as stabilizers or emulsifiers to help achieve a creamy consistency and prevent separation. Depending on the brand or recipe, the milk may also be enriched with vitamins and minerals such as calcium and vitamin D to match the nutritional profile of dairy-based products. This growth is driven by the rising demand for dairy-free products, which is in turn driven by the increasing prevalence of lactose intolerance, veganism, and other dietary restrictions. Additionally, the growing awareness of the health benefits of dairy-free milk, such as its lower cholesterol and saturated fat content, is also contributing to this growth.

Dairy Free Evaporated Milk Market Concentration & Characteristics

The Dairy Free Evaporated Milk Market is moderately concentrated, with the top three players accounting for approximately 50% of the global market share. The market is characterized by a high level of innovation, with new product launches and technological advancements being made on a regular basis. The market is also subject to a number of regulations, particularly in the areas of food safety and labeling. The end-user concentration in the market is relatively low, with dairy-free evaporated milk being used in a wide variety of applications. The level of M&A in the market is moderate, with a number of acquisitions and mergers taking place in recent years.

Dairy Free Evaporated Milk Market Trends

• Rising demand for plant-based foods: The growing awareness of the health and environmental benefits of plant-based foods is driving the demand for dairy-free evaporated milk, which is a key ingredient in many vegan and vegetarian recipes.
• Increasing availability of dairy-free evaporated milk products: The increasing demand for dairy-free evaporated milk has led to a wider variety of products becoming available, including evaporated milk made from soy, almond, coconut, and oats.
• Growing popularity of dairy-free evaporated milk in foodservice: Dairy-free evaporated milk is becoming increasingly popular in foodservice, as it is a versatile ingredient that can be used in a variety of applications, such as soups, sauces, and desserts.
• Technological advancements in dairy-free evaporated milk production: Technological advancements are leading to the development of new and improved dairy-free evaporated milk products, such as those with a longer shelf life and a more appealing taste.

Key Region or Country & Segment to Dominate the Market

• Key regions and countries: The Asia Pacific region is expected to be the largest market for dairy-free evaporated milk, followed by North America and Europe.
• Key segments: The coconut segment is expected to be the largest segment of the dairy-free evaporated milk market, followed by the soy and almond segments.

Driving Forces: What's Propelling the Dairy Free Evaporated Milk Market

• Increasing demand for plant-based foods: The growing awareness of the health and environmental benefits of plant-based foods is driving the demand for dairy-free evaporated milk.
• Rising prevalence of lactose intolerance: Lactose intolerance is a common digestive disorder that makes it difficult for people to digest lactose, the sugar found in milk. This is a major driver of the demand for dairy-free evaporated milk.
• Growing popularity of veganism and vegetarianism: Veganism and vegetarianism are becoming increasingly popular, which is driving the demand for dairy-free evaporated milk.

Challenges and Restraints in Dairy Free Evaporated Milk Market

• High cost of dairy-free evaporated milk: Dairy-free evaporated milk is typically more expensive than traditional dairy evaporated milk, which can be a barrier to entry for some consumers.
• Limited availability of dairy-free evaporated milk products: Dairy-free evaporated milk is not as widely available as traditional dairy evaporated milk, which can make it difficult for consumers to find.
• Taste and texture issues: Some consumers find that dairy-free evaporated milk does not taste or feel as good as traditional dairy evaporated milk.

Emerging Trends in Dairy Free Evaporated Milk Market

• Development of new and improved dairy-free evaporated milk products: Technological advancements are leading to the development of new and improved dairy-free evaporated milk products, such as those with a longer shelf life and a more appealing taste.
• Growing popularity of dairy-free evaporated milk in foodservice: Dairy-free evaporated milk is becoming increasingly popular in foodservice, as it is a versatile ingredient that can be used in a variety of applications, such as soups, sauces, and desserts.
• Increasing demand for dairy-free evaporated milk in emerging markets: The demand for dairy-free evaporated milk is growing in emerging markets, as more consumers become aware of the health and environmental benefits of plant-based foods.

Dairy Free Evaporated Milk Industry News

• Nature's Charm offers a gluten-free, lactose-free, and vegan evaporated coconut milk that facilitates the creation of plant-based dishes, contributing to the growth of the dairy-free evaporated milk industry.

Leading Players in the Dairy Free Evaporated Milk Market

• Nestle S.A.
• DariFree
• Nature's Charm
• Thai Coconut Public Company Limited
• Vega Foods Corporation
• Turtle Mountain
• Pacific Foods
• Malk Organics
• Forager Project

Dairy Free Evaporated Milk Market Segmentation

• 1. Source
  • 1.1. Soy
  • 1.2. Almond
  • 1.3. Coconut
  • 1.4. Oats
  • 1.5. Rice
  • 1.6. Others (Hemp, Pea, etc.)
• 2. Form
  • 2.1. Liquid
  • 2.2. Powder
• 3. Application
  • 3.1. Bakery Products
  • 3.2. Confectionery
  • 3.3. Beverages
  • 3.4. Infant Formula
  • 3.5. Ready-to-Eat Meals

Dairy Free Evaporated Milk Market Segmentation By Geography

• 1. North America
  • 1.1. U.S.
  • 1.2. Canada
• 2. Europe
  • 2.1. Germany
  • 2.2. UK
  • 2.3. France
  • 2.4. Italy
  • 2.5. Spain
  • 2.6. Rest of Europe
• 3. Asia Pacific
  • 3.1. China
  • 3.2. India
  • 3.3. Japan
  • 3.4. South Korea
  • 3.5. Australia
  • 3.6. Rest of Asia Pacific
• 4. Latin America
  • 4.1. Brazil
  • 4.2. Mexico
  • 4.3. Argentina
  • 4.4. Rest of Latin America
• 5. MEA
  • 5.1. Saudi Arabia
  • 5.2. UAE
  • 5.3. South Africa
  • 5.4. Rest of MEA