Global Dairy Alternatives Market Forecast to 2023: Favorable Marketing and Correct Positioning of Dairy Alternatives
DUBLIN, Jan. 28, 2019 /PRNewswire/ --
The "Dairy Alternatives Market by Source (Soy, Almond, Coconut, Rice, Oats, Hemp), Application (Milk, Cheese, Yogurt, Ice Creams, Creamers), Distribution Channel (Supermarkets, Health Stores, Pharmacies), Formulation and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global dairy alternatives market size is projected to grow from USD 17.3 billion in 2018 to USD 29.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period.
The dairy alternatives market is driven by various factors such as growing consumer preference for a vegan diet and nutritional benefits offered by plant-based dairy alternatives. However, the volatile price of raw materials in various regions can hinder the growth of the market.
The soy segment, by source, is estimated to dominate the dairy alternatives market in 2018.
The soy segment held the largest share in 2017, in terms of value. Soya-based dairy alternatives are considered to be the best substitutes for dairy products and occupy a significant share in the dairy alternatives market. They are a rich source of proteins and calcium and are considered to be one of the best substitutes for dairy products by lactose-intolerant individuals.
The milk segment is projected to hold the largest market share during the forecast period.
The demand for dairy alternatives has increased over the years. The popularity of dairy-free milk can be attributed to the health concerns related to lactose intolerance and the hectic lifestyles of the working middle-class population, which encourage them to use convenience products for on-the-go consumption to save time. As health and convenience are prioritized by consumers, manufacturers are producing different flavored milk alternatives with vanilla or chocolate flavors to meet the growing demand in various regions.
Europe is projected to be the fastest-growing region in the dairy alternatives market, in terms of value.
The market in Europe is projected to be the fastest-growing due to the high level of awareness among the consumers. This has resulted in the demand for lactose-free or low-lactose, low-calorie, and low-fat foods in the region. As dairy products are associated with obesity, flatulence, gastrointestinal problems, and diabetes, the food & beverage companies are focusing on innovations to produce various nutritional lactose-free dairy alternative products to meet consumer demand.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Opportunities in the Dairy Alternatives Market
4.2 Dairy Alternatives Market: Key Countries
4.3 Dairy Alternatives Market, By Application
4.4 Developed vs. Developing Markets for Dairy Alternatives
4.5 Dairy Alternatives Market, By Source
4.6 Dairy Alternatives Market, By Formulation
4.7 North America: Dairy Alternatives Market, By Application and Country, 2017
5 Market Overview
5.1 Introduction
5.2 Nutritive Analysis
5.3 Regulatory Bodies
5.3.1 Codex Alimentarius Commission
5.3.2 Food and Drug Administration (FDA)
5.3.3 The Soyfoods Association of America
5.3.3.1 Classification of Soymilk
5.3.4 Food Standards Australia New Zealand (FSANZ)
5.3.5 European Court of Justice
5.4 Patent Analysis
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Growing Consumer Preference for A Vegan Diet
5.5.1.2 Nutritional Benefits Offered By Plant-Based Dairy Alternatives
5.5.1.3 Increasing Cases of Lactose Intolerance and Milk Allergies
5.5.2 Restraints
5.5.2.1 Volatile Prices of Raw Materials
5.5.3 Opportunities
5.5.3.1 Growing Demand in Emerging Markets
5.5.3.2 Favorable Marketing and Correct Positioning of Dairy Alternatives
5.5.3.3 Changing Lifestyles of Consumers
5.5.4 Challenges
5.5.4.1 Limited Availability of Raw Materials
5.5.4.2 Limited Awareness Amongst Consumers
6 Dairy Alternatives Market, By Source
6.1 Introduction
6.2 Soy
6.2.1 Easy Availability and High Acceptability of Soy-Based Products to Drive the Market of Soy Derived Dairy Alternatives
6.3 Almond
6.3.1 The Almond Based Dairy Alternatives Market Will Be Driven By the Rising Demand and Availability of Blended Forms of the Product
6.4 Coconut
6.4.1 The Demand for Coconut-Based Dairy Alternatives is Driven By the High Palatability, Nutrition Level, and Good for Heart Properties of Coconut
6.5 Rice
6.5.1 Low Risk of Allergies and Comparitively Lighter and Bland Taste is Projected to Drive the Market for Rice Derived Dairy Alternative Products
6.6 Oats
6.6.1 Rich Nutritional Content and Cancer Curing Properties to Drive the Market of Oat Derived Dairy Alternatives
6.7 Hemp
6.7.1 Rising Awareness of Health Benefits of the Products Among Consumers to Drive the Market for Hemp Based Dairy Alternatives
6.8 Others
7 Dairy Alternatives Market, By Application
7.1 Introduction
7.2 Milk
7.2.1 Rising Awareness About Healthy Beverages to Drive the Milk Market for Dairy Alternatives
7.3 Ice Creams
7.3.1 Rise in Demand for Cholesterol and Fat Free Desserts to Drive the Ice Creams Market for Dairy Alternatives
7.4 Yogurt
7.4.1 Demand for Healthy Dairy Free and Fortified Yogurt to Drive the Overall Dairy Alternatives Market for Yogurts
7.5 Cheese
7.5.1 Demand for Dairy Free Spreadable and Non-Spreadable Cheese From Lactose Intolerant Consumers Drive the Dairy Alternatives Market
7.6 Creamers
7.6.1 Leading Manufacturers Investing in R&D to Meet the Growing Demand for Dairy Free Creamers
7.7 Others
8 Dairy Alternatives Market, By Formulation
8.1 Introduction
8.2 Flavored
8.2.1 Consumers Looking for Palatable But Healthier Options to Drive the Market for Flavored & Unsweetened Dairy Alternatives
8.3 Plain
8.3.1 The Plain Soy and Almond are Largely Consumed By Vegan and Lactose Intolerant Population
9 Dairy Alternatives Market, By Nutrient
9.1 Introduction
9.2 Protein
9.3 Starch
9.4 Vitamins
9.5 Others
10 Dairy Alternatives Market, By Distribution Channel
10.1 Introduction
10.2 Supermarkets
10.2.1 Supermarkets are Most Preferred Channel of Distribution for Dairy Alternative Products Due to Multiple Options Offered to Consumers
10.3 Health Food Stores
10.3.1 Health Benefits of Dairy Alternative Products Lead to Increase in Sales Through Health Food Stores
10.4 Pharmacies
10.4.1 Rising Health Issues and Prescriptions From Doctors for Allergies Tend to Increase Sales of Dairy Alternatives Through Pharmacies
10.5 Convenience Stores
10.5.1 Easy Access and Convenience for Consumers Lead to Rise in Sales Through Convenience Stores
10.6 Online Stores
10.6.1 Sales Through Online Stores Offer Faster Accessibility and Cost Effectiveness
10.7 Others
11 Dairy Alternatives Market, By Brand
11.1 Introduction
11.2 Silk
11.3 Dream
11.4 Almond Breeze
11.5 Sunrise Naturals
11.6 So Good
11.7 So Delicious
11.8 Australia's Own Organic
11.9 Ecomil
11.10 Alpro
11.11 Edensoy
12 Dairy Alternatives Market, By Region
13 Competitive Landscape
13.1 Introduction
13.2 Competitive Benchmarking
13.3 Vanguards, Innovators, Emerging, and Dynamic
14 Competitive Profiles
- Blue Diamond Growers
- Dhler GmbH
- Earth's Own Food Company
- Eden Foods
- Freedom Foods Group
- Nutriops S.L
- Organic Valley
- Panos Brands
- Sanitarium Health and Wellbeing Company
- Sunopta
- The Hain Celestial
- The Whitewave Foods Company
- Triballat Noyal
- Valsoia S.P.A.
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