The study provides a historic market size from 2014 to 2016 along with a market forecast from 2017 to 2025 for every segment and region.
Progressive Markets added a report, "Dairy Alternatives Market - Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025", which says that the dairy alternatives market is growing at a considerable CAGR over the years.
Many people choose to follow a dairy free diet due to lactose intolerance or following a vegan lifestyle. A myriad of dairy free food and beverages are available in the market to meet their needs.
They include soy milk, almond milk, rice milk, flax milk, coconut milk, hemp milk, ice-cream, butter, cheese, soft drinks, energy drinks, yogurt, cream, cottage cheese, to name a few. Just as dairy products, these dairy alternatives are packed with essential nutrients such as calcium, protein, and others.
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Market Drivers and Restraints
The global dairy alternatives market is witnessing a phenomenal growth and several factors support the same. The factors include the growing preference for a vegetarian diet, nutritional benefits obtained from plant-based dairy alternative products, a rapid upsurge in the beverage industry.
On the other hand, high cost associated with dairy alternative products impede the growth of the market. Growing demand in emerging economies and a change in consumer lifestyles provide opportunities for growth.
A growing fondness among consumers for lactose-free food products such as desserts, cheese, and snacks is mainly fueling the growth of the dairy alternatives market. A growing emphasis on nutritional values obtained from high proteins, low calories, and vitamins is expected to boost the market.
In addition, the change of consumer preference towards vegetarian diets due to environmental protection and animal rights is another reason for the growth of the dairy alternative market.
Dairy Alternatives Market Key Segmentation:
The report studies the dairy alternative industry based on formulation, type, application, and geography. By formulation, the market is segmented into plain & sweetened, plain & unsweetened, plain & flavored, and plain and unflavored.
Regarding type, the market is classified into almond milk, rice milk, soy milk, coconut milk, oat milk, hemp milk, and others. Based on application, the dairy alternatives industry is divided into food and beverages.
The food segment is bifurcated into cheese, creamer, yogurt, pudding, and ice-cream. The cheese segment is again divided into spreadable and non-spreadable.
The beverage segment is bifurcated into milk and sauces & dressings.
Geographically, the report studies the dairy alternatives market across Asia-Pacific, North America, Europe, and LAMEA. The North American market covers the regions such as Canada, Mexico, and the U.S.
The dairy alternatives industry in Europe covers the regions such as Germany, Spain, Italy, France, UK, and the other parts of Europe. The market in the Asian-Pacific region covers Australia & New Zealand, Japan, India, China, and the rest of Asia-Pacific.
The market in the LAMEA region covers South Africa, Saudi Arabia, Brazil, and the other parts of LAMEA.
Key Market Players
The top players of the global dairy alternatives market include The Whitewave Foods Company, Döhler GmbH, The Hain Celestial Group, Inc., Valsoia S.P.A., Blue Diamond Growers, Triballat Noyal, Sunopta Inc., Earths Own Food Company Inc., Koko Dairy Free, Sanitarium Health, and Wellbeing Company.
The report covers an extensive analysis of the dairy alternatives market on a global level. It includes the dairy alternatives market size, the dairy alternatives market share analysis (2014-2025), market dynamics, Porter's Five Forces Analysis (PFFA), industry segmentation, company profiles, market scope and definitions, and more.
The market size and share analysis explain where the market is and where it will lead to. The drivers and restraints of the industry along with the impact they have on the market over the forecast period help identify the potential areas of growth.
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To understand the competitive landscape of the industry, the report provides an analysis of the Porter's Five Forces model. The key players participating in the market along with their details such as recent developments, marketing strategies, profiles, and more help determine the growth opportunities in the dairy alternatives market.
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