Market Research Report
Global Dairy Alternative Market - 2018 - 2025
|Published by||DataM Intelligence||Product code||751784|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Dairy Alternative Market - 2018 - 2025|
|Published: November 1, 2018||Content info: 130-180 Pages||
The Global Dairy Alternatives market was valued at USD xx billion in 2017 and is forecasted to reach USD xx billion by 2024, with a CAGR of xx% during the forecast period (2018-2025). Dairy consumption is undergoing a revolution as a rapidly growing number of consumers switch to dairy-free milk alternatives. Dairy Alternatives are a rising trend, which can serve as an alternative to the fat and cholesterol-rich cow milk's products and in places, where cow's milk supply is insufficient.
Increasing awareness for a vegan diet, rising population of lactose intolerants and the changing perception of consumers' about health are the primary factors which are boosting the market for dairy alternatives
Roughly two-thirds of the world's adult population is lactose-intolerant. In Asia and Africa, the figure is around 90%. But even in Northern Europe, where only 10% of the population is affected, trends such as the vegan diet are leading to increased demand for dairy-free and lactose-free products.
Dairy alternatives are consistently costlier than dairy milk
The high cost of dairy alternatives in comparison to the dairy milk can be a significant re-straint, and it will impede the growth of the market.
The Global Dairy Alternatives Market report segments the market- By Type, By Formulation, by Application and by geography. By type the market has been segmented into - Almond Milk, Soy Milk, Coconut Milk, Cashew Milk and Others. Almond Milk leads the other kinds of plant milk regarding the market value and has the highest market share globally in dairy alternatives. Compared to other plant-based milk, almond milk is naturally an excellent source of vitamins, especially vitamin E which cannot be synthesised by the body and need to be supplied through diet or supplements.
By Formulation, the market has been segmented into- Original & Sweetened, Original & Un-sweetened, Flavoured & sweetened and flavoured & unsweetened. By Application type, the report segments the market into- Milk, Beverages, Frozen Desert, Yogurt, Cheese, Creams and Others. On the bases of geography, the market has been segmented as- North America, South America, Asia-Pacific, Europe and Rest of the World. The Asia-Pacific has the highest market share followed by North America.
The popularity of Dairy Alternatives in North America is increasing very rapidly and particu-larly in the US. The new food guidelines in the US developed under the "ChooseMyPlate", placed dairy alternatives such as soymilk, rice milk and almond milk in the "Dairy Group" (USDA, 2014). Soy Milk was the leader of the market earlier, but Almond Milk is now Ameri-ca's favourite milk substitute, boasting the sales growth of 250 per cent over the five years period covering 2010 to 2015. While almond milk still accounts for just a fraction of the to-tal milk market (about 5%), it brings in more than twice the revenue of the other milk sub-stitutes combined.
The report profiles the following companies: Blue Diamond Growers, Earth's Own Food Company, Inc., Valsoia, Triballat Noyal, The Whitewave Foods Company, Sunopta Inc., Dohler GmBH, Free-dom Foods Group Limited, Eden Foods Inc. and Nutriops S.L.
The dairy industry is slowly waking up to the fact that milk is going out of style. And many big food brands are investing in the dairy alternatives market. Danone, a multi-national food company, sensing the growth opportunities available in the dairy alternative market, acquired The White-wave Foods for a $10 billion deal. Following the footsteps of Danone, Dean Foods Company, the largest dairy producer in the United States known for its DairyPure brand, took a minority stake in plant-based milk and yogurt company Good Karma Foods.
Key market segments covered