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

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

Status : September, 2020 | 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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?