Dairy Free Cream Liqueur Market Growth Expected to Reach $4.2 Billion by 2031
Dairy free cream liqueur is a type of cream liqueur made from nondairy milk such as almond milk, oat milk, and coconut milk. People suffering from medical conditions such as lactose intolerance or having dietary preferences such as veganism prefer dairy free cream liqueur. It differs from lactose-free cream liqueur, which is made with non-dairy milk source, whereas dairy free cream liqueur is entirely made of vegan milk and other vegan ingredients.
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The global vegan population has increased dramatically in
recent years. Consumers are adopting veganism to improve their dietary intake
or to overcome food allergies or other health issues that prevent them from
consuming animal-derived products. The vegan population is growing
significantly in Europe, particularly in the UK, which has the world's largest
vegan population as well as the highest demand for cream liqueur. Many engaged
stakeholders in the food & beverage industry are developing vegan version of
their products, including cream liqueurs, as the global vegan population grows.
In addition, manufacturers are focused on introducing vegan cream liqueurs,
which is expected to foster the Dairy Free Cream Liqueur Industry growth
significantly.
As veganism is becoming more popular, many people are
seeking for vegan cream liqueurs. Making vegan cream liqueurs at home is
simple, and there are numerous recipes available on the internet that provide
step-by-step instructions. Thus, consumers are increasing their consumption of
homemade dairy free cream liqueurs due to the assurance of product quality and
slightly lower costs associated with making such products at home. This
increase in dairy free cream liqueur production by households has a negative impact
on the dairy free cream liqueur market growth.
Around the world, many countries are under various stages of
development with several countries being underdeveloped. In these countries,
people are migrating to cities and urban areas in search of work, which
increased their per capita and disposable income. Depending on where they live,
they develop new hobbies and tastes. Fine dining and gastronomy are becoming
increasingly popular in such areas, with many customers looking for unique
tastes and flavors. Dairy free cream liqueur is a unique liqueur, which is
likely to appeal a large base of consumers seeking for new beverages and foods,
which is anticipated to provide several dairy free cream liqueur market
opportunities for the expansion of the market during the dairy free cream
liqueur market forecast period.
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The global dairy free cream liqueur market is segmented into
source, flavor, distribution channel, and region. By source, the market is
classified into almond, oat, coconut, and others. Depending on flavor, it is
categorized into chocolate, caramel, vanilla, strawberry, and others. According
to distribution channel, it is fragmented into on trade and off trade. Region
wise, it is analyzed across North America (the U.S., Canada, and Mexico),
Europe (UK, Germany, France, Italy, Spain, Netherlands, and rest of Europe),
Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of
Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of
LAMEA).
The almond milk segment garnered majority of the dairy free
cream liqueur market share in 2021; however, the oat milk segment is estimated
to register CAGR of 11.6% during the forecast period due to rise in the
consumption of oat milk-based beverages across the world. Most consumers of
dairy free cream liqueur preferred chocolate flavored dairy free cream liqueur
drinks according to the dairy free cream liqueur market analysis, due to which
it was the dominant segment and accounted for 55.3% of the market share, and
the caramel flavored dairy free cream liqueur is predicted to have the highest
growth as the popularity of caramel flavored products is rapidly increasing.
Off-trade channels were the most popular mode of purchase of dairy free cream
liqueurs in 2021; however, the sale of dairy free cream liqueurs through
on-trade channels is expected to grow significantly in the future, owing to the
ease of purchase and larger varieties of products available through the
channel, fueling latest dairy free cream liqueur market trends.
Europe was the largest shareholder in terms of dairy free
cream liqueur market size in 2021, owing to the massive popularity of cream
liqueurs in the region as well as availability of variations of such drinks.
North America was the second largest in terms of market share, and Asia-Pacific
is expected to witness the highest growth during the forecast period.
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