The dairy alternatives market is estimated to see a high rise in upcoming years. This is attributed to the nutritional benefits offered by plant-based dairy alternatives. They offer various nutritional benefits such as reduced cholesterol level, improved cardiovascular health, and diabetes control. These benefits have led to an increase in their consumption. Thus, these alternatives are catering to the demand for various dairy alternative products among global consumers.
The milk segment is projected to account for the largest market share during the forecast period. Health and convenience are prioritized by consumers while making a choice for beverages. Companies have diversified their beverage offerings with products containing almond milk, coconut milk, and soymilk, along with other non-dairy ingredients and alternatives derived from hemp, oats, or flax. Factors supporting the popularity of dairy-free milk are health concerns related to lactose intolerance and the hectic lifestyles of the working middle-class population.
The online stores segment is projected to be the fastest-growing segment in the dairy alternatives market during the forecast period. The fastest-growing market of online stores is attributed to a variety of options for a particular dairy-free food product at discounted rates as compared to traditional retail prices, to attract more customers. The usage of online services has also increased in developed as well as developing markets due to factors such as faster accessibility and cost-effectiveness.
The Asia Pacific market accounted for the largest share in the market. The large market share in this region is attributed to rapid urbanization, diet diversification, and liberalization of foreign direct investment in the food sector. Apart from this, rise in income, purchasing power, rapid growth of the middle-class population, increase in consumer awareness about health & fitness, and consumer demand for nutritional & healthy products provide promising prospects to the market players for growth and diversification in the region’s food sector.
Key market players include The Whitewaves Food Company (US), The Hain Celestial Group (US), Blue Diamond Growers (US), Sunopta (Canada), Sanitarium Health and Wellbeing Company (Australia), Freedom Foods Group (Australia), Eden Foods (US), Nutriops S.L. (Spain), Earth's Own Food Company (Canada), Triballat Noyal (France), Valsoia S.P.A (Italy), Dohler GmBh (Germany),Organic Valley (US), and Panos Brands LLC (US).
Key Questions Addressed by the Report
· Who are the major market players in this market?
· What are the regional growth trends and the largest revenue-generating regions for dairy alternatives?
· Which are the major regions that are expected to witness the majority of growth in demand for dairy alternatives?
· What are the major sources of dairy alternatives that are expected to gain maximum market revenue and share during the forecast period?
Which is the major application that will be accounting for the majority of the revenue over the forecast period?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Growing Consumer Preference for a Vegan Diet
3.1.2. Nutritional Benefits Offered by Plant-Based Dairy Alternatives
3.1.3. Increasing Cases of Lactose Intolerance and Milk Allergies
3.2.1. Volatile Prices of Raw Materials
3.2.2. Limited Availability of Raw Materials
3.2.3. Limited Awareness Amongst Consumers
3.3.1. Growing Demand in Emerging Markets
3.3.2. Favorable Marketing and Correct Positioning of Dairy Alternatives
3.3.3. Changing Lifestyles of Consumers
4. Executive Summary
5. Market for Dairy Alternatives, By Source
6. Market for Dairy Alternatives, By Application
6.2. Ice Cream
7. Market for Dairy Alternatives, By Formulation
8. Market for Dairy Alternatives, By Nutrient
9. Market for Dairy Alternatives, By Distribution Channel
9.2. Health Food Stores
9.4. Convenience Stores
9.5. Online Stores
10. Market for Dairy Alternatives, By Brand
10.3. Almond Breeze
10.4. Sunrise Naturals
10.5. So Good
10.6. So Delicious
10.7. Australia’s Own Organic
11. Market for Dairy Alternatives, By Region
11.1. North America
11.2.6. Rest of Europe
11.3. Asia Pacific
11.3.5. Rest of Asia Pacific
11.4. South America
11.4.3. Rest of South America
11.5. Rest of the World
11.5.1. Middle East
12. Company Profiles
12.1. The Whitewave Foods Company
12.2. The Hain Celestial
12.3. Blue Diamond Growers
12.5. Sanitarium Health and Wellbeing Company
12.6. Freedom Foods Group
12.7. Eden Foods
12.8. Nutriops S.L
12.9. Earth’s Own Food Company
12.10. Triballat Noyal
12.11. Valsoia S.P.A.
12.12. Döhler GmbH
12.13. Panos Brands
12.14. Organic Valley
13. Conclusion and Recommendations
14.2. Related Reports