Indiana, United States –
Dairy Alternatives Market size exhibits a CAGR of 11.4% in during the forecast period. Data Bridge Market Research has presented this information in its report titled, “Dairy Alternatives Market 2021-2028”
Dairy alternatives refer to the products that are generally made from plant-based products such as soy, pea, and almond, among others. These products possess a number of advantages such as gluten-free, sugar free, lactose-free, GMO-free, and cholesterol free.
The rise in prevalence of lactose intolerance across the globe acts as one of the major factors driving the growth of dairy alternative market. The high adoption of the products owning to their ability to risk of heart disease, obesity, and diabetics, among others and shift in consumer eating patterns and change in diet trends accelerate the market growth. The rise in the trend of almond milk among population because of its low in calories, enriched with vitamin D and provides strengthen bone, and growing consumer base that is opting for plant-based and other dairy alternatives further influence the market. Additionally, rise in health consciousness, adoption of natural food products, surge in spending on food and media influence on consumer awareness positively affect the dairy alternative market
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The major players covered in the dairy alternative market report are OMIRA Oberland Milchverwertung Ravensburg, Parmalat, lpro, Amul, Amy’s Kitchen, Barry Callebaut, Cargill, Chr. Hansen, Crowley Foods, Daiya Foods, Doves Farm Food, Edlong Dairy Technologies, Emmi, Fonterra, Galaxy Nutritional Foods, General Mills, Green Valley Organics, HP Hood, Kerry Group, Murray Goulburn, Sweet William, TINE Laktosefri, and WhiteWave Foods, and Valio, Arla Foods, and McNeil Nutritionals, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
On the other hand, allergies associated with plant-based sources, such as soy and almonds, and volatile prices of raw materials are expected to obstruct the market growth. The increase in preference for genetically modified (GM) soybeans and limited awareness among consumers are projected to challenge the dairy alternative market in the forecast period of 2021 to 2028.
The countries covered in the global dairy alternative market report are the U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa.
Asia-Pacific dominates the dairy alternative market because of the large population and rising disposable incomes in emerging countries, such as India, China, and Japan. North America is expected to witness growth during the forecast period of 2021 to 2028 due to the rise in consumer demand for sweetened flavored soy and almond milk.
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The dairy alternative market is segmented on the basis of product type, type, formulation, application, nutritive and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of nature, the dairy alternative market is segmented into soy milk, almond milk, coconut milk, cashew milk, oat milk, and rice milk.
On the basis of type, the dairy alternative market is segmented into inorganic and organic.
On the basis of formulation, the dairy alternative market is segmented into plain & sweetened, flavored & unsweetened, flavored & sweetened, and plain & unsweetened.
On the basis of application, the dairy alternative market is segmented into food and beverages.
On the basis of nutritive, the dairy alternative market is segmented into protein, vitamins, and carbohydrates.
On the basis of distribution channel, the dairy alternative market is segmented into supermarkets/hypermarkets, online and specialized stores.
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