Category : Consumer Goods and Food and Beverages | Published at : January-2019 | Delivery Format : PDF | Status: Published | Pages : 160
Introduction
The global dairy alternatives market size is anticipated to around USD 42.2 million by 2026, this market is anticipated to grow with 17.3% CAGR during the forecast time period.
Market Dynamics
Expanding event of milk sensitivities among customers is probably going to be a key factor driving the market. Expanding fame of almond milk, inferable from high protein, fiber, lipids, and vitality content, is anticipated to drive its demand. Better taste and surface offered by almond milk instead of its partners is probably going to offer an upper hand for the item over the figure time frame. Moreover, almond milk controls pulse and offers advantages to heart, kidney, and skin, which is probably going to expand its notoriety over the coming years.
The most widely recognized non-dairy item expended in the market is soy milk, which was additionally the biggest item portion in 2017, representing over 63.0% of the all-out market. Soy milk contains isoflavones, which decrease the danger of bosom malignant growth and heart illnesses, and is probably going to pick up prominence, particularly among ladies and old purchasers.
Market Insights
Soymilk contains different minerals, for example, press, calcium, phosphorous, zinc, sodium, potassium, and magnesium. The product is very famous among heart patients as it diminishes cholesterol levels. Also, soy milk contains an equivalent measure of proteins as that in cow milk and is low in calories contrasted with entire and skim milk. In this manner, developing utilization of soy milk is probably going to enlarge by and large industry demand.
Starter inquire about on organization execution in dairy options demonstrated that profits on soy, rice, and almond milk were around 6% higher than those on customary milk and milk products, which has caught the consideration of new businesses and nourishment organizations. Dairies in Europe are quickly getting to be pioneers in the market, particularly in Western Europe.
The worldwide business is relied upon to develop at a noteworthy rate attributable to rising buyer demand for plant-inferred healthful dairy merchandise. Expanding buyer mindfulness in regards to wellbeing, alongside enhancing disposable income in nations, for example, Brazil, India, China, and Japan, is foreseen to goad utilization of soy milk, almond milk, coconut milk, and rice milk over the conjecture time frame.
Market Segmentation
Market By Product
- Soy Milk
- Almond Milk
- Rice Milk
- Others
Market By Formulation
- Plain
- Sweetened
- Unsweetened
- Flavored
- Sweetened
- Unsweetened
Market By Application
- Food
- Cheese
- Desserts
- Snacks
- Beverages
Market By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Chile
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
Regional Insights
As far as region, Asia Pacific represented the biggest offer in 2017. Extending populace and rising dispensable salaries in developing nations, for example, India and China are relied upon to enlarge product demand in the district. Soy, rice, and almond milk are fundamentally devoured as conventional refreshments in Asia Pacific. The local market is described by demand for without lactose milk for kids, lactating moms, and pregnant ladies. These dairy choices offer a wide scope of utilization in sans lactose products for grown-ups, in this way enhancing business sector prospects in Asia Pacific.
Market Participants
Few of the main businesses present in the global Dairy alternatives market are Hain Celestial Group, Inc., Company; Freedom Foods Group Ltd; Vitsoy International Holding Limited; Blue Diamond Growers Inc.; CP Kelco; OATLY AB; WhiteWave Foods Company; Eden Foods, Inc.; Daiya Foods Inc.; and Nutriops S.L..
