The global dairy alternatives market is predicted to witness an upsurge in demand during the forecast period due to the increasing issues associated with lactose intolerance among people and the shift in the consumers' preference towards healthy food products. As per the dairy alternatives market report, the rising consumer awareness related to the exceptional nutritional values provided by plant-based dairy alternatives, including encourages cardiovascular health, decreases the cholesterol level, and manages diabetes, which will further promote them to adopt dairy alternatives food products to stay fit and healthy. Furthermore, the emerging trend of veganism and the growing per capita income will surge the growth of the global alternatives market size during the forecast period. Numerous multinational organizations are majorly emphasizing on product innovation that includes the launch of various flavors of soy milk and almond milk, thus attracting many consumers who are proactively looking for tastier healthy drink options. On the other edge of the spectrum, the variations in costs of raw material and the problem of developing dairy substitute products with low cholesterol and fat level will hinder the growth of the global dairy alternatives market share in terms of revenue.
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Based on the Application, the market is segmented into ice cream, milk, yogurt, creamers, cheese, and others. The milk application is predicted to increase at a faster CAGR over the coming years. This is mainly attributed to the fundamental shift in the consumers' preference towards vegan diet patterns as a result of the increasing issue about the environment and animal rights worldwide. The major top companies are increasing their product portfolios by adding new products comprising of coconut milk, almond milk, and soymilk. This growth will allow the manufactures to attract a large number of consumers into the market. In addition to this, the increasing health problems, such as lactose intolerance, coupled with the rising hectic lifestyle of the working population is encouraging them to opt for convenient beverage option to save their time.
Based on the Distribution Channel, the market is segmented into Health Food Stores, Supermarkets/Hypermarkets, Convenience Stores, Pharmacies, Online, and Others. The Supermarkets/Hypermarkets is projected to dominate the market during the forecast period due to the growing number of supermarkets/hypermarkets across the globe driven by the increasing population rate and rapid modernization. It provides a huge variety of products under one roof, followed by several attractive discount offers on bulk orders. On the other hand, online stores is predicted to rise at a faster CAGR in the upcoming years due to the rising penetration of smartphones and the internet among customers globally. They are extremely cost-effective, offer faster access to all products, and other remarkable benefits to its consumers, including several payment options, paybacks, free home delivery options, and other discount deals.
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Based on the region, the Asia-Pacific is expected to increase at a faster CAGR over the forecast period due to the rising population, growing purchasing power, and the increasing consumer awareness associated with healthy diet patterns. Furthermore, the rapid urbanization and the availability of a large range of flavors will further attract many consumers in the market. The Rice, Soy, and Almond milk are mainly consumed as traditional beverages in various countries like India. The high demand for lactose-free milk for children and pregnant women will further fuel the growth of the dairy alternatives market.
Various notable players operating in the market include Hain Celestial, The Whitewave Foods Company, Blue Diamond Growers, Earth’s Own Food Company, Sanitarium, SunOpta, Freedom Foods Group Limited, Nutriops S.L., Eden Foods, and Valsoia S.p.A. among others.
The global Dairy Alternatives market has been segmented on the basis of source, application, distribution channel, formulation, nutrient and region. Based on source, the market is segmented into almond, soy, oats, hemp, coconut, rice and others. Based on application, the market is segmented into cheese, creamers, yogurt, ice creams, milk and others. Based on distribution channel, the market is segmented into supermarkets, health food stores, pharmacies, convenience stores, online and others. based on formulation, the market is segmented into plain and flavored. Based on nutrient, the market is segmented into protein, starch, vitamin and others.
Dairy Alternatives Market Segmentation:
Global Dairy Alternatives Market by Source:
- Almond
- Soy
- Oats
- Hemp
- Coconut
- Rice
- Others
Global Dairy Alternatives Market by Application:
- Cheese
- Creamers
- Yogurt
- Ice Creams
- Milk
- Others
Global Dairy Alternatives Market by Distribution Channel:
- Supermarkets
- Health Food Stores
- Pharmacies
- Convenience Stores
- Online
- Others
Global Dairy Alternatives Market by Formulation:
- Plain
- Flavored
Global Dairy Alternatives Market by Nutrient:
- Protein
- Starch
- Vitamin
- Others
Global Dairy Alternatives Market by Region:
- North America Dairy Alternatives Market (Option 1: As a part of the free 25% customization)
- North America Market by Source
- North America Market by Application
- North America Market by Distribution Channel
- North America Market by Formulation
- North America Market by Nutrient
- United States Dairy Alternatives Market
- Canada Dairy Alternatives Market
- Europe Dairy Alternatives Market (Option 2: As a part of the free 25% customization)
- Europe Market by Source
- Europe Market by Application
- Europe Market by Distribution Channel
- Europe Market by Formulation
- Europe Market by Nutrient
- UK Dairy Alternatives Market
- Germany Dairy Alternatives Market
- France Dairy Alternatives Market
- Spain Dairy Alternatives Market
- Rest of Europe Dairy Alternatives Market
- Asia-Pacific Dairy Alternatives Market (Option 3: As a part of the free 25% customization)
- Asia-Pacific Market by Source
- Asia-Pacific Market by Application
- Asia-Pacific Market by Distribution Channel
- Asia-Pacific Market by Formulation
- Asia-Pacific Market by Nutrient
- China Dairy Alternatives Market
- India Dairy Alternatives Market
- Japan Dairy Alternatives Market
- Rest of APAC Dairy Alternatives Market
- RoW Dairy Alternatives Market (Option 4: As a part of the free 25% customization)
- RoW Market by Source
- RoW Market by Application
- RoW Market by Distribution Channel
- RoW Market by Formulation
- RoW Market by Nutrient
- Brazil Dairy Alternatives Market
- South Africa Dairy Alternatives Market
- Saudi Arabia Dairy Alternatives Market
- UAE Dairy Alternatives Market
- Rest of world (remaining countries of the LAMEA region) Dairy Alternatives Market
Major Players Operating in Dairy Alternatives Market (Option 5: As a part of the FREE 25% Customization - Profiles of 5 Additional Companies of your Choice)
- The Whitewave Foods Company
- Hain Celestial
- Blue Diamond Growers
- SunOpta
- Sanitarium
- Freedom Foods Group Limited
- Eden Foods
- Nutriops S.L.
- Earth’s Own Food Company
- Valsoia S.p.A.
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