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.
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.
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.
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.
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.