DUBLIN, June 30, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Dairy Alternatives Market by Type (Soy, Almond, Coconut, Rice, Oat, Hemp), Formulation (Plain & Sweetened, Plain & Unsweetened, Flavored & Sweetened, Flavored & Unsweetened), Application (Food, Beverages), and Region - Global Forecast to 2022" report to their offering.
The dairy alternatives market is projected to grow at a CAGR of 11.7% from 2017, to reach USD 14.36 Billion by 2022
The growth of this market can be attributed to the inclination of consumers toward a vegan diet, growing instances of lactose intolerance among the population, and the growing demand for various fortified dairy food & beverage applications.
Though most dairy alternatives are similar to dairy milk in terms of texture and taste, the price of dairy milk is relatively lower than that of its alternatives. The dairy industry in most countries operates in an organized structure and has a lower rate of turnover tax, which reduces the price of the product. On the other hand, the price of dairy alternatives depends on the supply of raw materials. Changes in climatic conditions have resulted in the shortage of raw materials, which in turn, has increased their prices.
For instance, the price of raw materials is increasing due to the poor harvesting of crops in Asian countries such as India and Pakistan. Such fluctuations are posing challenges to the dairy alternatives market. Further, clinical trials and safety testing require substantial investments. Significant investments in R&D activities, laboratories, and research equipment, and hiring trained professionals also pose as a barrier for this market.
- Growing Consumer Preference for Vegan Diet
- Nutritional Benefits Offered By Plant-Based Dairy Alternatives Market
- Increasing Cases of Lactose Intolerance & Milk Allergies
- Rapidly Growing Beverage Industry
- Price Sensitivity
- Growing Demand in Emerging Markets
- Favorable Marketing & Correct Positioning of Dairy Alternatives
- Changing Lifestyles of Consumers
- Limited Availability of Raw Materials
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Dairy Alternatives Market, By Formulation
7 Dairy Alternatives Market, By Type
8 Dairy Alternatives Market, By Application
9 Dairy Alternatives Market, By Nutritive Component
10 Dairy Alternatives Market, By Region
11 Competitive Landscape
12 Company Profiles
- Blue Diamond Growers
- Califa Farms (U.S.)
- Döhler Gmbh
- Earth's Own Food Company Inc.
- Eden Foods Inc.
- Freedom Foods Group Limited
- Granlatte Società Cooperativa Agricola Arl (Italy)
- Green Spot Co. Ltd (Thailand)
- Healthy Brands Collective Corporation (U.S.)
- Hiland Dairy Foods Company Llc (U.S.)
- Koko Dairy Free (U.K.)
- Lactasoy Co. Ltd. (Thiland)
- Nutriops S.L
- Oatly Ab (Sweden)
- Organic Valley Cropp Cooperative (U.S.)
- Pacific Foods of Oregon Inc (U.S.)
- Pureharvest (Australia)
- Sanitarium Health And Wellbeing Company
- Sunopta Inc.
- The Bridge S.R.L (Italy)
- The Hain Celestial Group Inc (U.S.)
- The Whitewave Foods Company (U.S.)
- Triballat Noyal
- Valsoia S.P.A.
- Vietnam Dairy Products Joint Stock Company (Vietnam)
- Zensoy (U.S.)
For more information about this report visit https://www.researchandmarkets.com/research/mtd5s5/dairy
Laura Wood, Senior Manager
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SOURCE Research and Markets