Assessment of the US Dairy Alternative Food & Beverage Market
NEW YORK, Jan. 20, 2016 /PRNewswire/ -- Assessment of the US Dairy Alternative Food & Beverage Market : Emerging Opportunities for Companies Offering Plant-based Dairy Alternatives
The US market for dairy alternative food and beverage products is driven by the availability and familiarity of source materials, and their ability to provide options for people with special dietary needs. Food and beverage brand owners are responding to these consumer needs, providing the necessary impetus with new product lines. This study covers the state of the US market in terms of market size, growth, competitive environment, and key challenges in 2014 and beyond. Dairy alternative milks, dairy alternative solid and semi-solid foods, and food intolerance and 'free-from' market segments are examined in depth, and the market growth for each segment is forecast. The base year is 2014 and forecasts are provided up to 2021.
Key Findings
Dairy alternative foods and beverages need a great deal of processing, which increases the risk of cross contamination, and require more research and development (R&D) and manufacturing investments. This results in higher prices and too many overlapping concepts that confound consumers.
- The dairy alternative retail products' revenue was estimated at approximately $ billion in 2014 in the United States, and is expected to grow at a compound annual growth rate (CAGR) of % to reach $ billion in 2021.
- The US market for dairy alternative food and beverage products is driven by the availability and familiarity of source materials, along with the ability to provide options for people with special dietary needs. Food and beverage brand owners are responding to these consumer needs, providing the necessary impetus with new product lines.
- Dairy alternative products are basically plant-based products that mimic the dairy products in texture and taste. Consumer demand for such plant-based dairy alternative products is increasing globally, especially in North America.
- In North America, there is more emphasis on branding dairy alternative products, while traditional dairy-based products are slipping into private labels and commoditization.
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