Dairy Alternative Market, By Value, is Projected to Grow at the CAGR Over 14.55% By 2022

Pune, India Market Research Future published a cooked research report on Global dairy alternative market value which is estimated to grow at 14.55% by 2022.

Dairy Alternative Market Hightlights

Dairy Alternative is a substitute of the animal based traditional milk products. Dairy alternative is derived from the plant based milk sources and is lactose and casein free. Dairy alternative is manufactured by using various plant based sources like soy, almond, coconut, rice, hazelnut and many more.

Market Forecast

Dairy alternative has been created owing to the consumer demand. Today, food intolerances and food allergies have become a major concern for today’s health conscious consumers. Dairy alternative is lactose-free food, which means that the product is free from animal (usually cow’s) milk which contains milk sugar lactose. Plant-based ingredients, such as soy, almond, coconut and rice are majorly used as main source to prepare dairy substitute. In the era of globalization, changing consumption pattern, increasing awareness about lactose intolerance, rising number of vegan consumers and other factors such as rising working class population and growing demand for on-the-go products support the growth of dairy alternative market. Increasing consumer interest in healthy lifestyle, various weight loss diet trends and rising concern on animal welfare & environment will fuel the sales of dairy alternative across the world. Also, the strong performance of retail sector & foodservice industry has led to the easy availability of branded dairy alternative in semi-urban areas, and the increasing availability of brands in stores which are safe to consume.These factors will play a key role in the growth of dairy alternative market at the CAGR of 14.55% during 2017-2022.

By Downstream Analysis-

Among the source type, soy milk segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register the healthy CAGR of 14.76% during the forecast period. Among the application, beverages segment is estimated to account maximum market proportion during the forecast period of 2017-2022. Food segment is estimated to observe a substantial growth of 14.75% during the review period. Store based segment is projected to hold maximum market proportion of more than  65% by the end of 2017 and it is estimated to retain its dominance throughout the forecast period. 

Competitive analysis-

This report includes a study of strategies used in the market, mergers and acquisitions in dairy alternative, multiple product launch by dairy alternative market players. It further includes product portfolios and developments of leading major players which includes

• Blue Diamond Growers (U.S.)


• Hain Celestial Group (U.S.)


• Whitewave Foods (France)


• Sunopta Inc.(Canada)


• Daiya Foods Inc.(Canada)


• Galaxy Nutritional Foods, Inc. (U.S.)


• Tofutti Brands Inc. (U.S.) 

The market players have increased their level of investment in research to identify right formulation and to improve product functionality in order to capture lion’s share and create brand recognition in dairy alternative market. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.     

Region AnalysisThe global dairy alternative market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Asia Pacific region is expected to retain its dominance throughout the forecast period. The market is projected to grow at a steady pace in the review period. Asia-pacific will be the fastest growing region in the dairy alternative market and high growth in emerging economies such as China, India, Japan and ASEAN countries. Europe is also estimated to account market proportion of 20.09% in the year of 2017. Mainly the rising consumer demand for plant based coupled with the lactose intolerance is anticipated to be the significant reason for the rising growth of dairy alternative in the Europe region.

Market Segmentation-Global dairy alternative market is segmented by source, application, formulation, distribution channel and region

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