Global “Dairy Alternative Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Dairy Alternative in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Dairy Alternative Market report categorizes the market based on manufacturers, regions, type, and application. Dairy Alternative Market reports offer a detailed assessment of the Dairy Alternative including enabling technologies, current market situation, market assumptions, restraining factors.
The Global Dairy Alternative market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
Dairy Alternatives Market Insights
The global dairy alternative market, in terms of value, is projected to reach about USD 26 billion by 2023, growing at a CAGR of about 10.4% from 2018 to 2023. Dairy alternatives are milk like texture products, which are lactose free and used as a replacement of dairy based products. These alternatives are majorly adopted by various cereals such as oats, wheat, rice, barley and nuts. Plant-based dairy alternatives, that are widely available in supermarkets, include various milk options such as soy, almond, coconut, rice, hemp and flax, in addition to dairy-free yogurts, frozen desserts, spreads, and cheeses. Better health related benefits, including high energy levels as compared to normal dairy products, are expected to be the key factors, owing to which, people are shifting from regular products or beverages to its alternatives.
Dairy Alternatives Market Dynamics
The primary factors driving the dairy alternative market are:
Increase in lactose Intolerance and milk allergy
Nutritional values of plant based dairy alternatives
Changed lifestyle causing obesity and gastrointestinal problems
Lactose intolerance and milk allergy is one of the major reasons of growth for the dairy alternative products. However, from the past few years the increasing awareness and changing lifestyle has helped the market to grow. Health consciousness among consumers has increased, mainly about their weight and diabetic diseases. Consumers are also becoming more health conscious due to the growing incidences of gastrointestinal diseases. Due to increasing incidences of gastrointestinal diseases in the population, consumers avoid dairy products, which in-turn drives the market for dairy alternatives. On the other hand, increased disposable income and rising population in developing countries provides an opportunity to grow the segment in the coming years. Therefore, various marketing strategies and innovations are enhancing the market in emerging regions. However, high pricing and lack of proper nutrients available in dairy alternative raw materials is hindering the market growth.
The major restraints for Global Dairy Alternates market are:
High pricing of dairy alternatives as compared to dairy based products
Lack of protein and cross contamination of raw materials
Higher cost in comparison to conventional milk or milk based products, the prominence of low-cholesterol & low-fat conventional milk or milk based products are major hindrances for the players operating in the market.
The factors that can provide opportunities to the key players of the market are:
Innovative marketing practices and creating awareness
Increasing demand from developing countries
Dairy Alternatives Market Segmentation
Considering the market segmentation of dairy alternatives, there are various food and beverage options available in supermarkets, convenience stores, pharmacies and health stores to grab the attention of the consumer. However, the major market share is taken by beverages in the global scenario and it is expected to grow in the coming years. The sales channel followed by dairy alternatives is similar to that of dairy options in convenience stores and supermarkets.
The types of dairy alternatives available consists of almond milk, soy milk, rice milk, coconut milk and various other nut based milks such as cashew, hazelnut etc. Soy milk has been the oldest option available to replace dairy milk. However, substitutes such as almond milk and coconut milk have grabbed the market significantly in the last couple of years. The dollar sales of almond milk have increased by 40% on unit and volume, from 2013 to 2014. It accounts for more than one- half of the total category sales. Rice milk, nut based milk and coconut milk are in the growing phase. However, almond milk is leading the market and expected to be customers first preference in the forecast period.
The availability of dairy alternative products based on two types: unsweetened and sweetened. However, the plain unsweetened formulation is projected to dominate the dairy alternatives market due to the health conscious behaviors of customers, which tips them towards healthy versions of available products.
Dairy Alternatives Market – Regional Analysis
Asia-Pacific is the largest market for dairy alternatives. China, being dominant in the Asia-Pacific region, especially contributes to the soymilk market share. Factors such as increasing health awareness among the consumers, increasing population and rise in the disposable income of the consumers are boosting the demand for dairy alternatives. North America is the second largest market for dairy alternatives after Asia-Pacific. North America and Europe are considered as growing markets of dairy alternative beverages.
Dairy Alternatives Market Competitive landscape
Major Players – BLUE DIAMOND GROWERS, CALIFIA FARMS, DAIYA FOODS INC., EARTHS OWN FOOD COMPANY INC., EDEN FOODS INC., ORGANIC VALLEY, PACIFIC FOODS OF OREGON LLC, SANITARIUM HEALTH & WELLBEING COMPANY, SUNOPTA INC., THE HAIN CELESTIAL GROUP INC., THE WHITE WAVE FOOD COMPANY and VITASOY, among others.
To maintain a competitive edge in the dairy alternatives market, the key players invest in launching new products and expanding their geographical presence. They are also focusing on acquisitions and expansion & investments of their facilities, to enter the markets. Investment in extensive research and development and new products launches in different sizes, flavors and packaging, continues to be the strategy employed by companies to market their products.
Thus, the alternative option for dairy products market is small and new. However, increasing awareness and innovations for new products will lead the market to have substantial growth in the years to come.
Reasons to Purchase this Report
Analyzing outlook of the market with the recent trends and Porters five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information,
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The global Dairy Alternative market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Dairy Alternative Market Report covers the Top Key-players in 2021:-
- Blue Diamond Growers
- Califia Farms
- Daiya Foods Inc.
- Earths Own Food Company Inc.
- Eden Foods Inc.
- Organic Valley
- Pacific Foods of Oregon LLC
- Sanitarium Health & Wellbeing Company
- Sunopta Inc.
- The Hain Celestial Group Inc.
- The White Wave Food Company
Highlighted points of Dairy Alternative Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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This Dairy Alternative Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Dairy Alternative? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Dairy Alternative Market? What’s Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Dairy Alternative Market? What Was Capacity, Production Value, Cost and PROFIT of Dairy Alternative Market?
- What Is Current Market Status of Dairy Alternative Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Dairy Alternative Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Dairy Alternative Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Dairy Alternative Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Dairy Alternative Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Dairy Alternative Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Dairy Alternative Industry?
Key Developments in the Dairy Alternative Market:
Reasons to Purchase this Report
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Finally, the report Global Dairy Alternative Market 2021 describes the Dairy Alternative industry expansion game plan, the Dairy Alternative industry knowledge supply, appendix, analysis findings, and the conclusion.
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