The Global Dairy Alternatives Market is projected to reach a value of USD 41.1 billion by 2027 at a CAGR of 11.35%.
Dairy Alternatives are the analogs of the dairy products, which are rich in essential amino acid, calcium, minerals, and other macro nutrients. These products are obtained from the plant sources such as soy, rice, almond, oat, and other sources. Dairy Alternatives is used in the plant based milk, cheese, yogurt, and other products. Dairy Alternatives are the substitutes for the animal milk and milk product for the lactose intolerant, diary allergic and vegan population
DAIRY ALTERNATIVES MARKET: Drivers & CHALLENGES
Rise in Vegan Population
With increasing concerns regarding ill-effects of consuming animal-based products, there is a shifting preference towards adoption of veganism. Owing to this, higher count of the global population is preferring plant-based diet, to cut off food products originated from animals, microbes or insects, which is expected to drive the demand for dairy substitutes. As per the Vegan Society, in Great Britain, approximately 6 lakhs people are adopting veganism and the trend is expected to continue in the following years. Increasing awareness regarding ill-effects of animal based food with ongoing trend of adoption of veganism resulting into higher demand for plant based food products, which is driving the market growth.
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Increase in Lactose Intolerant Population
Since ages, cow milk was the prime source of essential amino acid, minerals, sugar and other essential micronutrients. US National Liberty of Medicine states that 65% of human population lose ability to digest after infancy. To drag this further, the demand for cow’s milk or animal based milk products is decreased in past few years owing to rise in population intolerant to the lactose, a prime sugar present in the cow milk. As per the US Department of Health and Human Service, around 50 million American adults are lactose intolerant. Lactose intolerant is more common in the population resident in Africa, Italy, Finland, and Arabian countries, owing to growing lactose intolerant population, the demand for dairy Alternatives s is projected to rise.
High Cost of Dairy Alternatives
Dairy Alternatives s mainly include milk, yogurt, cheese and related products obtained from plant origin. Owing to this, these diary Alternatives s are expensive, when compared with the conventional animal based milk. The cost of the plant-based milk can cost double than the cow’s milk, which impacts its demand worldwide. These plant derived milk and dairy products are obtained through extracting the plant material in water. The process further includes segregating the liquid and then formulating the extract into the final product, which involves homogenization & thermal treatment and drives the overall cost of final product. Thus, the high cost of dairy Alternatives is hampering its overall market growth
Dairy Alternatives Market: Key segments
- Segmentation based on source: Soy, Almond, Coconut, Rice, Oat, Hemp, Cashew and Others
- Segmentation based on application: Milk, Cheese, Yogurt, Butter and Others
- Segmentation based on distribution channel: Convenience Store, Supermarket and Hypermarket, Health Stores and Pharmacies and Online Store
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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Dairy Alternatives Market: Report Scope
The report on the dairy Alternatives market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the Dairy Alternatives Market include:
- Hain Celestial (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Tate & Lyle
- Kerry Inc.
- The Coca-Cola Company
- CP Kelco U.S., Inc.
- Axiom Foods, Inc.
- Other Key Companies
Dairy Alternatives Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Dairy Alternatives Market, by Source
Dairy Alternatives Market, by Application
Dairy Alternatives Market, by Distribution Channel
- Convenience Store
- Supermarket and Hypermarket
- Health Stores and Pharmacies
- Online Store
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Dairy Alternatives Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
- GLOBAL DAIRY ALTERNATIVES MARKET BY SOURCE, Market Size in USD Million (2019-2027)
- GLOBAL DAIRY ALTERNATIVES MARKET BY APPLICATION, Market Size in USD Million (2019-2027)
- GLOBAL DAIRY ALTERNATIVES MARKET BY DISTRIBUTION CHANNEL, Market Size in USD Million (2019-2027)
- GLOBAL DAIRY ALTERNATIVES MARKET BY REGION, Market Size in USD Million (2019-2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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