The dairy alternatives market is expected to reach USD 41.80 Billion by 2026, according to a new report by Reports and Data. Dairy alternative, a plant based milk, is used as the main substitute of milk. It is obtained from cereals (oats, wheat, rice, and barley among others), nuts, and seeds. Dairy alternatives have low fat and low cholesterol content than milk products and does not contain lactose that has medical benefits especially for the lactose intolerant people.
Increasing
incidences of lactose intolerance among individuals across the globe, the
rising number milk allergies, innovative product launches and smart marketing
and sales promotional strategies followed by the market players are the some of
the main factors that have stimulated the overall market demand for dairy
alternatives. The competition in the dairy alternatives market is very high
with major players acquiring other small players to increase their market share
and profitability. Players in this market are continuously innovating their
products to come up with new taste and flavors to differentiate their products
and pull more customers. Nevertheless, the players in the dairy alternatives
market may face a significant challenge in the form of innovation being done in
conventional milk and dairy products with low cholesterol and fat.
Get
a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1254
Considerable
investments in R&D for development of new technologies and methods for the
improvement of dairy alternative products like the removal of flavor &
inhibitors, fortification of food items, and enhanced shelf life, will drive
the market growth. The deployment of latest technological methods, like Ultra
High Processing (UHT) and enzymatic liquefaction for the efficient production
of various dairy alternative food items will provide strong growth
opportunities for the market.
Key
participants include The WhiteWave
Food Company, Blue Diamond Growers, Archer Daniels Midland Company, The Hain
Celestial Group Inc., Eden Foods Inc., Panos Brands LLC, Earth’s Own Food
Company, Daiya Foods Inc., SunOpta Inc., Freedom Foods Group Ltd., and CP Kelco
among others.
Further key findings from the report suggest
Soy milk occupied the largest share with more than 50% of the global market in 2018 and is forecasted to have a growth rate of 12.2% in the forecast period. Soy milk is a rich source of vitamins, proteins, potassium, and has a lower calorie content than cow’s milk, which is projected to boost the market growth.
The plain formulation is expected to have a growth of 12.2% during the forecast period accounting for more than 70% of the market in 2018. Rising demand for the plain/unflavored type of dairy alternatives like soymilk, almond milk, and rice milk among others is estimated to fuel the market growth.
The Asia Pacific market held the largest share in 2018 and is expected to maintain its dominance throughout the forecast period with a growth rate of 12.2%. The market dominance of this region is due to diet diversification, rapid urbanization, and liberalization of FDI in the food sector. Besides, the rise in the level of disposable income, increase in purchasing power of customers, increase in consumer awareness regarding health & fitness, and rise in consumer demand for nutritional & healthy products is estimated to fuel the market growth in this region.
Request discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1254
For the purpose of this report, Reports and Data have segmented global dairy alternatives market by product type, formulation, application, distribution channel, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Soy Milk
Almond Milk
Coconut Milk
Rice Milk
Oat Milk
Hemp Milk
OthersFormulation Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Flavored Formulation
Plain Formulation
Application Outlook
(Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Food
Beverages
Distribution
Channel Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million;
2016-2026)
Super Markets
Health Food Stores
Pharmacies
Convenience Stores
Online Stores
Others
Regional
Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
Latin America
MEA
To
know more about the report, visit @ https://www.reportsanddata.com/report-detail/dairy-alternatives-market
Key
Features of the Dairy Alternatives Market Report:
Detailed
assessment and exhaustive understanding of the Dairy Alternatives market
Significant
insights into manufacturing processes, major barriers, and risks
8-year
forecast estimation to offer information about the market size and market share
on the global and regional levels
Evaluation
of the key drivers, restraints, growth opportunities, threats, limitations,
barriers, and other key elements
Identification
of growth prospects and potential for the Dairy Alternatives industry
Comprehensive
analysis of the key market players and their strategies
Request
customization of the report @ https://www.reportsanddata.com/request-customization-form/1254
Browse Related Reports –
Frozen
Vegetables Market- https://www.reportsanddata.com/report-detail/frozen-vegetables-market
Canned
Beans Market- https://www.reportsanddata.com/report-detail/canned-beans-market
Freeze
Dried Vegetables Market- https://www.reportsanddata.com/report-detail/freeze-dried-vegetables-market
Dairy
Alternatives Market- https://www.reportsanddata.com/report-detail/dairy-alternatives-market
Snack
Pellets Market- https://www.reportsanddata.com/report-detail/snack-pellets-market
Thank you for reading our
report. For further information or query regarding the report or its
customization, please connect with us. Our team will ensure you get a report
well-suited to your needs.
