Global Dairy Alternatives Market is valued approximately USD 19.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.4 % over the forecast period 2020-2027. Dairy alternatives are food and beverages, derived from plants and are considered a very health alternative to dairy. Dairy alternatives such as sSoy milk, rice milk, and almond milk are considered a healthy owing to presence of a number ofseveral essential vitamins and minerals. Dairy Alternatives are low on fats, low cholesterol and has zero concentration of lactose. The global Dairy Alternatives is being facing challenges due to the coronavirus pandemic as organizations are temporary shutdown, which results in slowdown of demand for the market across the globe. The growth in consumer preference for a vegan diet, nutritional benefits offered by plant-based dairy alternatives and increase in cases of lactose intolerance and milk allergies encourages the growth of the global Dairy Alternatives Market. For instance: according to Statista, the number of vegans in Great Britain was 150,000 in 2014 and has increased by 600,000 vegans in 2018. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 16th May 2019, Blue Diamond Growers expanded its non-dairy yogurt alternative category with Almond Breeze Almond Mmilk Yogurt Alternative, which is rich in creame and paired with almond toppings. However, volatile prices of raw materials is the major factor restraining the growth of global Dairy Alternatives market during the forecast period.
The regional analysis of global Dairy Alternatives Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the rapid urbanization, diet diversification, and liberalization of foreign direct investment in the food sector. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
- The Whitewave Foods Company
- Hain Celestial
- Blue Diamond Growers
- Freedom Foods Group Limited
- Eden Foods, Inc.
- Earth’S Own Food Company Inc.
- Triballat Noyal
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Ice Creams
By Distribution Channel:
- Health Food stores
- Convenience Stores
- Online stores
- North America
- Asia Pacific
- South Korea
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2017, 2018
- Base year – 2019
- Forecast period – 2020 to 2027
Target Audience of the Global Dairy Alternatives Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers