CHICAGO, March 12, 2019 /PRNewswire/ --According to Arizton's recent research report, the global non-dairy milk market is projected to reach revenues of more than $38 billion by 2024, growing at a CAGR of over 14% during 2018−2024.
Key Highlights Offered in the Report:
Dairy-free yogurt, cheese, butter, ice-cream, creamer, sour cream, and whipping creamare gaining popularity in the market.
The European and APAC regionsaccounted for a share of 61% of the global non-dairy milk market in 2018.
Non-dairy milk beverages are the most popular non-dairy milk products, which compriseapproximately 66.29% of the global market in 2018.
Proteins, carbohydrates, minerals, and other essential nutrients in soy milk are boosting the demand in the global non-dairy milk market.
The launch of innovative flavors and varieties of dairy-free yogurt will enable vendors to attract maximum number of consumers.
Coconut milk is extremely popular across South East and South Asian countries in the global market.
Market Size & Forecast by Revenue | 2018−2024
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by source type, end-products, distribution channel, and geography.
Competitive Landscape – Profile of 5 key vendors and 20 prominent players.
This market research report includes a detailed segmentation of the market by source types, end-products, distribution channels, and geographies.
Soy milk dominated more than half of the total market share in 2018. Soy milk is the most consumed plant-based milk alternative in the world.
Yogurt is the fastest growing end-product segment in the global market at a CAGR of approximately 16% by 2024.
Market Segmentation by Source Types
Market Segmentation by End-products
Market Segmentation by Distribution Channels
Supermarkets and Hypermarkets
Online Retail Stores
Global Non-Dairy Milk Market – Dynamics
The growing demand for non-GMO food products and the rising interest in natural and organic products are fueling the growth of the global non-dairy milk market. The increasing interest in food quality and safety, while a desire for GM-free ingredients, has also emerged as a key concern for some consumers in the global market.
Key Drivers and Trends Fueling Growth of the Global Market:
Growing Preference for Vegan Diets
Increasing Number of Health-conscious Population
Growing Investment in Plant-based Food and Beverage Industries
Global Non-Dairy Milk Market –Geography
In terms of geography, the global non-dairy milk market is categorized into North America, APAC, Europe, Latin America, and MEA. The rising adoption of vegetarian diets and veganism in countries such as India and China, coupled with the high prevalence of lactose intolerance is driving the market in the APAC region.
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- Market Segmentation by Geography
o South Africa
Geographical Market Size & Forecast | 2018−2024
Major Vendors in the Global Non-dairy Milk Market:
The White Wave Food Company
The Hain Celestial Group
Sanitarium Health and Wellbeing Company
Other prominent vendors in the global non-dairy milk market include Freedom Food Group Limited, Eden Foods, Nutriops SL, Earth's OWN Food Company, TriballatNoyal, ValsoiaSpA, Dohler, Panos Brands LLC, Vitasoy International Holding Limited, Oatly AB, Violife Foods, Good Karma Foods, Ripple Foods, Califia Farms, Elmhurst, Chobani, NadaMoo!,MarianiWalnutmilk, Yofix Probiotics, and Miyoko Kitchen.
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