Dairy Alternatives Market By Formulation (Plain, Flavored), By Product Type (Almond Milk, Coconut Milk, Hemp Milk, Oat Milk, Rice Milk, Soy Milk), By Application (Food, Beverages) - Growth, Future Prospects And Competitive Analysis, 2017 – 2025

Dairy alternative products are the plant base products, contains no milk, but it is enriched with various minerals and vitamins similar to that of dairy milk. Milk is rich in protein, carbohydrates and calcium. Along with several uses in beverages, milk is also used in smoothies or poured on cereal. Plant-based dairy alternative is also made from soy, oats, rice, almond, coconut, flax, and hemp. Various dairy alternative products are made with vitamin D and calcium to make it similar taste like a dairy milk, whereas few dairy alternative products may also contain vitamin B12. For instance soy milk is equivalently nutritional to that of cow's milk. It is filled with vitamins A, vitamins D, and calcium. Soy milk is also helpful in reduced risk of heart disease.

Global dairy alternatives market is to observe an astonishing growth with a support of several factors such as increasing vegetarian population, nutritional aids obtained from plant-based dairy alternative products, a fast expansion of the beverage industry. Whereas, due to the high cost allied with dairy alternative products is likely to hinder the market growth. Increasing demand in developing economies and changing lifestyles offer a great opportunities for the market growth.

A growing preference among people for lactose free food products for instance cheese, snacks, and desserts is largely stimulating the growth of the global dairy alternatives market. Growing importance of nutritional values obtained from vitamins, high proteins, and low calories is likely to boost the market share. In addition, the change of consumer preference towards vegetarian diets owing to environmental protection is also the factor for the growth of the global dairy alternative market.

Growing consumer demand for non-lactose food products such as snacks, desserts, and cheese are foreseen to drive the demand for dairy alternative market. Increasing consumer awareness towards the nutritional value of the products with low calories, large amount of vitamins and proteins is expected to drive a sustainable market growth of dairy alternatives. Moreover, changing consumer preference towards vegetarian diet due to factors such as animal protection and environmental protection are expected to drive demand for dairy alternatives in the near future.

Asia Pacific is the dominant region for dairy alternatives market by both value and volume, with a share of more than 55% of the global market in 2016 and is also expected to be the largest market in the forecast period. Rise in disposable income along with increasing population of India and China is expected to drive the market of dairy alternatives in Asia Pacific in near future. Asia Pacific is followed by North America and Europe. About 25% of the U.S. population and 75% of the world's population have the low lactase levels. Rising number of people suffering from lactose intolerance, milk allergies and growing health awareness among consumers are driving the market for dairy alternatives in this region.

Major players of the global dairy alternatives market include Archer Daniels Midland Company, Blue Diamond Growers, CP Kelco, Daiya Foods Inc., Danone, Freedom Foods Group Ltd., Nutriops S.L., Sanitarium Health & Wellbeing Company, The Hain Celestial Group, Inc., and The Whitewave Foods Company.

Based on the application segment, the dairy alternatives market is segmented as follows:

  • Food
    • Cheese
    • Creamer
    • Yogurt
    • Pudding
    • Ice Cream
    • Others
  • Beverages
    • Milk
    • Sauces & Dressings
    • Others

Beverages is the fastest growing segment in the dairy alternative market by application. Most commonly available dairy-free beverages are milk shake, energy drink, fruit mixed drinks, and others, prepared from coconut, almond, and soy. Milk application had the largest share in beverages, there are various types of plant base milk products available in the market. Plant-based beverage like soya milk have the largest market share in the dairy alternative beverages segment. Subsequently almond milk is getting more popular due to its several health benefits as it contains large amount of vitamins, minerals, and calcium. Rice milk is mostly consumed by people suffering due to the intolerances of lactose, nut, soy, and so on.  Rice milk is estimated to grow at a CAGR of more than 8% during 2017-2025. There are various products available in the market from new sources such as peas, flaxseed, and quinoa. Moreover, manufacturers are developing and launching mixed flavored dairy alternative products to satisfy the growing consumer demand.

In food segment chees and creams are expected to grow at a fastest rate in the near future, as it lower the level of saturated fat in the body. Yogurts made from dairy alternative sources such as coconut, soy, and almond, are gradually being consumed at a highest rate owing to their high nutritional value. The yogurt segment is expected to grow at a CAGR of more than 14% during 2017-2025.

For the purpose of this study, the global dairy alternatives market is categorized into the following geographies and sub-geographies:

  • North America (U.S, and Canada)
  • Europe (France, Germany, Spain, Italy, U.K., and Rest of Europe)
  • Asia Pacific (China, India, and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East and Africa (Saudi Arabia, and Rest of Middle East and Africa)

Asia Pacific region is the dominating market for dairy alternatives market in 2016 due to the increasing health concern, growing population, and rise in disposable income are few factors contributing to the market growth in Asia Pacific. Due to the large population countries such as India and China are becoming the prominent market for the growth of dairy alternative. Asia-Pacific is followed by the North America, is the second largest region in the dairy alternatives market. U.S. holds the largest market share of dairy alternative products in 2016. Soy milk, almond milk, and coconut milk are the commonly consumed dairy alternatives products in the U.S. Sales of almond milk is expected to rise at 46%, and coconut milk at 35% in the forecast period.

Europe is another lucrative region for the growth of dairy alternative market. In Europe, manufacturers are focusing on developing new product, such as products with flavors of fruits to gain consumer confidence and increase the market share. European sales of dairy alternatives are projected to grow with a growth rate of 20% due to innovative product and extensively changing consumer demand for healthy beverages. Germany is the fastest growing country for the dairy alternative market in Europe, as private labeled companies are offering the dairy alternative products at a discount stores under their own private labels.

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Published Date:  Nov 2017
Category:  Food & Beverage
Report ID:   58841
Report Format:   PDF
Pages:   120
Rating:    4.4 (40)
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