Dairy Alternatives Market

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Dairy Alternatives Market (Type - Soy Milk, Almond Milk, Rice Milk, Coconut Milk, and Others; Application - Food, and Beverages; Distribution - large Retail, Small Retail, Specialty Stores, and Online): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : July, 2021

  • Rep Id : FB0033

  • Category : Food & Beverages

  • Status : Published

A recent report published by Infinium Global Research on the dairy alternatives market provides in-depth analysis of segments and sub-segments in the global as well as regional dairy alternatives market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional dairy alternatives market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global dairy alternatives market. According to the report, the global dairy alternatives market is projected to reach a value of over USD 50 Billion in 2027 from USD 28 Billion in 2021 with a CAGR of 10.2% over the forecast period of 2021-2027.

 

Dairy Alternatives Market


Market Insight

The consumption of dairy alternatives has been growing in recent years. Consumers are transitioning towards dairy alternatives. The massive shift in the consumption of the consumers is due to growth in the concerns regarding the traditional dairy industry. Traditional dairy products primarily include milk, cheese, and yogurt. The alternatives to dairy products such as soy milk, oat milk, almond milk, and others are garnering the attention of the consumers. The dairy alternatives are high in protein and minerals and contain low fat. Dairy alternatives are used in food and beverages also they are available for direct consumption. The availability of dairy alternatives on the shelves of supermarkets and retail stores is growing.

 

The applications of dairy alternatives are growing in the food and beverage industry. Dairy alternatives are being used in place of traditional dairy ingredients in prepared foods. Many beverage consumers are offering broad dairy alternative beverages. This is mainly due to accommodate the growing vegan choices of the consumers. Additionally, the growth of the plant-based food industry is also supplementing the growth of the food and beverage industry. The prevalence of lactose intolerant and diabetic patients is growing around the world. Dairy alternatives are suitable options for them instead of dairy products. Some dairy alternatives are lactose-free and contain less sugar. Therefore, dairy alternatives have high demand from these types of patients. The dairy industry is one of the highest carbon-emitting industries. The high carbon footprint of the dairy industry is affecting the environment. Therefore the awareness of the environmental effects of the dairy industry is growing rapidly. Consumers are shifting towards dairy alternatives that have less harmful environmental effects. The only factor restraining the market is the high prices of dairy alternatives. The launch of new products by manufacturers present new opportunities in the market.

 

North America is expected to be the dominant region in the market. Asia-Pacific is projected to be the fastest-growing region in the market. The health consciousness among consumers in North America is high. Thus, the demand for dairy alternatives is expected to remain strong in North America. Growing awareness of the harmful effects of the dairy industry on the environment is also fuelling the growth of the market in North America. Dairy products are an important part of the diet in several countries of Asia-Pacific. Consumers are adopting healthy eating habits and transitioning towards dairy alternatives in Asia-Pacific. The penetration of dairy alternatives into retail and specialty stores is growing in Asia-Pacific.

 

Segment Covered

The report on global dairy alternatives market covers segments such as type, application , and distribution . On the basis of type, the sub-markets include soy milk, almond milk, rice milk, coconut milk, and others. On the basis of application , the sub-markets include food, and beverages. On the basis of distribution , the sub-markets include large retail, small retail, specialty stores, and online.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Archer Daniels Midland Company, Blue Diamond Growers, E. I. du Pont de Nemours and Company, Danone S.A., Freedom Foods Group Limited, Eden Foods Inc., SunOpta, Inc., Kraft Heinz Company, Earth’s Own Food Company, Inc., and Nestle SA.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of dairy alternatives market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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