Dairy Alternatives Market Research Report

Market Research | GmiResearchh

Aug 16, 2021

Global Dairy Alternatives Market

The GMI Research projects that the Dairy Alternatives Market will experience amplification in demand over the forecast period. This is mainly due to their enhanced nutritional value over traditional dairy items like milk and cheese, rising adoption of veganism, increasing inclination towards new products.

Introduction of the Dairy Alternatives Market

Dairy alternatives items are composed of different sources like soy, almond, coconut, rice, oats, and hemp milk. These substitutes are affluent in calcium, protein, and other essential nutrients and promote better health by reducing the incidences of several diseases. They are extensively used to make yogurt, ice creams, cheeses, and creamers.    

Key Players of Market:

  • Earth’s Own Food Company
  • Eden Foods
  • Sanitarium
  • Blue Diamond Growers
  • The Whitewave Foods Company
  • Valsoia S.p.A.
  • Nutriops S.L.
  • Freedom Foods Group Limited
  • SunOpta
  • Hain Celestial

Dairy Alternatives Market Dynamics

The aggravating agitation towards lactose intolerance across individuals, as well as the rising preference of consumers in favor of healthy and wholesome food items, accounts to be the key factors supplementing the growth of the global dairy alternatives market. In addition to it, the mounting recognition of the notable health advantages imparted by plant-based dairy substitutes, such as reduction in cholesterol level, ameliorated cardiovascular health, and fewer chances of diabetes will prompt them to choose these products to remain fit and healthy.

Furthermore, the increasing inclination towards adopting a vegan lifestyle and the mounting per capita income are strengthening the dairy alternatives market size. Besides this, the surging focus of enormous multinational players on product innovation, for example, the initiation of different flavors of almond and soy milk, will allure a broad range of consumers looking for tastier and healthier beverage substitutes. Thus, all this together will positively influence the market growth. However, the instability in the prices of raw materials, as well as the obstacle to introducing the alternatives of dairy items with low cholesterol and fat level, will restrict the market growth.

Application Segment Drivers

Based on the Application, milk is predicted to capture a higher Compound Annual Growth Rate over the forecast period. This is because of the substantial drift towards veganism as a result of the surging apprehension about the environment and animal rights. Moreover, the leading market players are enlarging their product portfolios by piling up novel products incorporating almond, coconut, and soymilk. Therefore, this expansion enables manufacturers to tempt a new customer base in the market. Furthermore, according to the global dairy alternatives market report, the amplifying health concerns, such as lactose intolerance and the busy and hectic lifestyle of the working population, will encourage them to choose convenient products.

Regional Drivers

Asia-Pacific is contemplated to bolster at a higher rate over the coming years. The mounting purchasing power, accelerating population, and the rising recognition towards nutritional diet patterns altogether bolsters the market growth. Besides this, the soaring urban population and the accessibility of an extensive range of flavors will pave the way for market growth. Furthermore, Soy, Rice, and Almond milk are largely consumed as conventional beverages across several nations, such as India, which is contributing to the market growth. In addition, robust demand for lactose-free milk for children and pregnant women adds to the dairy alternatives market share.

Dairy Alternatives Market Segmentation:

Segmentation by Source
  • Almond
  • Soy
  • Oats
  • Hemp
  • Coconut
  • Rice
  • Others
Segmentation by Application
  • Cheese
  • Creamers
  • Yogurt
  • Ice Creams
  • Milk
  • Others
Segmentation by Distribution Channel
  • Supermarkets
  • Health Food Stores
  • Pharmacies
  • Convenience Stores
  • Online
  • Others
Segmentation by Formulation
  • Plain
  • Flavored
Segmentation by Nutrient
  • Protein
  • Starch
  • Vitamin
  • Others
Segmentation by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

A market research and consulting company, GMI Research, offers various enterprises business insights and market research reports. Our research team accumulates all the relevant information about several industries using both internal and external databases. The focus of the organization is to acknowledge our clients with the upcoming opportunities and challenges across different industries. The team assists clients in comprehending the influence of market dynamics like size, share, drivers, growth opportunities, and other aspects. We try to offer a step-by-step solution to our clients to reach a managerial and actionable decision. The enterprise got featured in the list of Silicon India Magazine in 2018 as one of the Most Promising Market.

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