Bharat Book Bureau Provides the Trending Market Research Report on “Dairy Alternatives Market ; Segmented By Source, By Distribution Channel, By Product, and Region – Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030” under Food & Beverage Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
Global Dairy Alternatives Market, 2019-2030
Product Overview
Dairy substitutes are foods and drinks that can be used in place of dairy. These plant-based foods and drinks are thought to be a healthier alternative to dairy. Soy milk, rice milk, and almond milk are some of the most common dairy alternatives around the world. Due to the availability of a variety of important vitamins and minerals, dairy alternatives are considered safe.
They're also low in fat and cholesterol, and lactose-free. Dairy Alternatives have gained a lot of traction in both the mature and emerging markets. This is due to an increase in the number of people who are allergic to dairy. Furthermore, rising health consciousness and disposable income have aided the growth of the dairy alternatives sector.
Market Highlights
Global Dairy Alternatives Market is expected to project a notable CAGR of 12.7% in 2030.
Over the forecast period, rising milk allergies and lactose intolerance cases are expected to fuel demand for dairy alternatives even further. As a result, dairy substitutes are being used in an increasing number of food and beverage products to cater to the growing number of consumers who prefer plant-based and other dairy alternatives.
Global Dairy Alternatives Market: Segments
Soy segment to grow with the highest CAGR during 2020-30
Global Dairy Alternatives Market is segmented by source into soy, almond, coconut, rice, oats, and others. Soy segment held the largest market share in the year 2020. Soy milk, which is high in nutrients and protein relative to other dairy alternatives, is expected to drive the segment over the forecast era. Soy milk has been used in the Asia Pacific region for centuries and is used in a variety of recipes, which is expected to keep product demand steady over the forecast period. It's used to help people lose weight and lower their blood cholesterol levels. It also helps to reduce the risk of a variety of postmenopausal problems, as well as improve cardiovascular health, making it a common supplement.
Hypermarkets & supermarkets segment to grow with the highest CAGR during 2020-30
Global Dairy Alternatives Market is segmented by distribution channel into convenience stores, hypermarkets & supermarkets, e-commerce platforms, and others. Hypermarkets & supermarkets segment held the largest market share in the year 2020. Supermarkets and hypermarkets are massive retail stores that typically deliver a variety of retail product categories under one roof. The wide variety of products available and the convenience of real-time brand comparison for customers are the primary reasons for hypermarkets and supermarkets' popularity in this market. In order to be open to consumers, supermarkets are normally situated near a residential area. However, due to a lack of land near residential areas, the majority of supermarket and hypermarket chains are expanding outside of the city.
Milk segment to grow with the highest CAGR during 2020-30
Global Dairy Alternatives Market is divided by-products into milk, yogurt, ice cream, cheese, creamer, and others. Over the forecast period, the milk segment is projected to expand at the fastest pace. In Europe, the growing elderly population has resulted in a preference for milk-based dairy alternatives. Growing health concerns about soymilk, especially among breast cancer survivors, are expected to stifle market growth. Over the next eight years, increasing demand for low-calorie foods, combined with the growing popularity of plant-based nutritional goods, is expected to boost demand for the commodity in Europe.
Market Dynamics
Drivers
Lactose Intolerance and Growing Health Awareness
The demand for dairy alternatives has accelerated due to the growing number of lactose-intolerant and dairy-allergic consumers. Milk and other dairy foods such as ice cream, cheese, and yogurt contain lactose, which is the main carbohydrate. Abdominal discomfort, diarrhea, nausea, stomach distension, flatulence, and constipation are some of the signs of lactose intolerance.
As consumers become more conscious of healthy eating habits, the rising number of these allergies encourages the consumption of dairy alternatives. As a result, demand for a variety of dairy alternatives, such as plant-based non-dairy products like milk, ice creams, creamers, and cheese, is increasing among the consumers.
Market Tastes and Increased Demand for Organic Foods
Organic foods and beverages have the potential to transform the dairy alternatives market as a whole. Market tastes are shifting toward healthier foods and drinks, owing to increased understanding of the practical health benefits of organic food intake. Clean-label foods and drinks have piqued consumer interest around the world, increasing in demand for organic ingredients. Developing countries such as China and India are expected to see a significant increase in demand for organic food ingredients from the supply side during the forecast period.
Restraint
Allergies associated with Plant-Based Sources Such as Tree Nuts and Almonds
Allergies associated with the plant-based sources used to produce substitute dairy products are one of the major factors limiting the market's growth. Despite the high nutritional value of soybeans, the presence of anti-nutritional components in soy can cause allergies. When the human immune system misinterprets the harmless proteins found in soy as harmful, antibodies are produced to combat them, resulting in a soy allergy. Tree nuts, such as almonds, are another product that causes allergies. As a result, these individuals must avoid almond-based products like almond milk and other non-dairy almond products.
Global Dairy Alternatives Market: Key Players
Organic Valley
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Blue Diamond Growers
SunOpta Inc.
Earth’s Own Food Inc.
Living Harvest Foods Inc.
Kikkoman Corporation
Rebel Kitchen
Panos Brands LLC
WhiteWave Foods Company
Other Prominent Players
Global Dairy Alternatives: Regions
Global Dairy Alternatives market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Dairy Alternatives in Asia Pacific held the largest market share in the year 2020. The Asia Pacific region's demand for the commodity is expected to increase as the population of developing countries such as India, China, and Japan grows and disposable incomes rise. Increased cases of lactose intolerance, combined with increasing health concerns about harmful additives used in dairy products, are expected to drive demand for non-dairy alternatives such as soy milk, almond milk, rice milk, and other dairy substitutes.
Global Dairy Alternatives Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Dairy Alternatives Market report also contains analysis on:
Dairy Alternatives Market Segments:
By Source
Soy
Almond
Coconut
Rice
Oats
Others
By Distribution Channel
Convenience stores
Hypermarkets & supermarkets
E-commerce platforms
Other
By Product
Milk
Yogurt
Ice Cream
Cheese
Creamer
Others
Dairy Alternatives Market Dynamics
Dairy Alternatives Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
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The Dairy Alternatives market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.This research report also includes profiles of major companies operating in the global market.
Some of the prominent players operating in the global Dairy Alternatives market are Archer Daniels Midland Company, Daiya Foods Inc., Earth’s Own Food Company, Eden Foods, Inc., Freedom Foods Group Ltd., Nutriops, S.L., OATLY AB, SunOpta Inc., The Hain Celestial Group, Inc., The Whitewave Foods Company, and others.
This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.Get more information on "Global Dairy Alternatives Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/dairy-alternatives-market/download-sampleMarket DynamicsThe increasing incidences of cardiovascular diseases, as dairy products contain cholesterol, is augmenting the market growth of dairy alternatives.
Moreover, increasing cases of lactose intolerant patients, because of lactose present in dairy products, is again pushing the market growth.
However, the high cost of dairy alternatives hampers market growth.The report has been created by using crucial tools such as Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity.
