Dairy Alternatives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

  • Single User License $3500

Dairy Alternatives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : December, 2019 | Food and Beverages | PPT format

Report Digest


Global Dairy Alternatives Market: Snapshot 

Dairy alternatives have in recent years gathered marked momentum among people worldwide. And, the target population size is fast expanding in developed as well as developing regions. Growing numbers of people who are lactose-intolerant find dairy alternative a promising option to meet their appetite. The dairy alternatives market has also an environmental underpinning. Substantial carbon footprint of the dairy industry has shifted attention of food companies toward dairy alternatives market. Advent of dairy alternatives with good nutritional profile comparable to dairy products is a key trend strengthening the prospects of the market. Growing popularity of plant-based dairy substitutes has imparted a robust momentum in recent years. Some of the product types that have gathered widespread steam is dairy-free milk, butter, and cheese. Demand for ice-creams made with these dairy alternatives have also picked up pace. Some key factors that add to the popularity of dairy alternatives are discussed below: 

  • Dairy alternatives generally have higher shelf-life than the dairy products. Advances in food processing and packaging methods have further enhanced this, thereby proving to be a more convenient option for lactose-intolerant population. 
  • A few dairy-free milk products have attracted the palatability of people preferring plant-based food. For example, soy milk and almond milk has gained steam among consumers, and their attractiveness is further fueled by their nutritional profile, such as containing less saturated fat, carbs, and sodium. 
  • In developed nations notably the U.S. and the U.K., food companies are unveiling an exciting line of dairy alternatives, by using exotic plants. A case in point is milk made from hemp seed. Several companies have also consolidated dairy-alternative drinks in recent years. Such product lines are likely to attract health-conscious vegan populations, world over.

Global Dairy Alternatives Market: Overview

The dairy alternatives market is booming thanks to a range of products. Worth billions of dollars, it is expected to scale greater heights in the near term owing to stiff competition among players. They are seen pulling out all stops to grow their revenues. One such strategy is integrating backwards and forwards to get an easy supply of raw materials and win over distribution rights. They are also seen pouring money into research and development of better products. As a result the market is inundated with products, both non-dairy beverages and food, which is driving sales.

Global Dairy Alternatives Market: Trends and Opportunities

There are several factors promoting the global dairy alternatives market. One of those is the proliferation of products. Soy milk, rice milk, and almond milk available in the market are being provided in various flavors. Those are also fortified with a various nutrients to attract the health conscious consumers. Another marketing strategy paying off well for the dairy alternatives market is the attractive packaging and targeted advertising on online and offline channels.

Yet another major growth driver in the global dairy alternatives market is the rising lactose intolerance among people. This has driven them to non-dairy products. Besides, the rising trend of veganism is also having a positive impact on the market. Urbanization, increasing disposable incomes, and rising awareness are having a positive impact on the market too. Sales and revenue in the global dairy alternatives market is benefitting from the proliferation of supermarkets and hypermarkets and exploding ecommerce platforms.

Acting as a deterrent to the global dairy alternatives market is the stringent regulations pertaining to quality, particularly in nations such as the U.S. Adhering to those is driving up manufacturing cost, thereby making products expensive. This, in turn, is hampering sales.

Global Dairy Alternatives Market: Market Potential

Soy milk appears to be the most promising product in the global dairy alternatives market. Going forward, the segment could see surging sales with rising awareness among people. Meanwhile, with regards to formulation, the plain formulation as opposed to the flavoured versions, could be accounting for higher sales at the moment. This is because of the elderly people’s preference for cholesterol free food.

With respect to application, the global dairy alternatives market is believed to be buoyed by the food segment. Their uses in making non-dairy yogurt, pudding, ice-creams, and cheese is said to creating sales growth avenues in the market.

Global Dairy Alternatives Market: Regional Outlook

With respect to geography, Asia Pacific appears a promising market that could further increase its value in the near term. This is because of the its large population, mainly concentrated in China and India. The developing nations are seeing a consumerism boom which is driving up sales of dairy alternatives. North America could also make the cut as a promising dairy alternatives market. This is because of the rising veganism in the region.

Global Dairy Alternatives Market: Competitive Landscape

The global dairy alternatives market is fragmented in nature. This is because of the presence of several manufacturers. Some of them are Earth’s Own Food, Blue Diamond Growers, Whitewave Foods Company, SunOpta, and Vitasoy International.

The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

Wish to check Table of Contents of this report?

Click below to Request TOC

Request TOC