Description
Global Dairy Alternative Market
Dairy Alternative market has witnessed substantial innovation in terms of new product launches along with research & development. Also, the overall disposable income of the consumer is increasing over the past few years which in turn leads to surge in sales of Dairy Alternative during the forecast period.
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 and horeca & 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.
The dairy alternative manufacturing companies can penetrate their business into the developing economies like India, China, ASEAN countries, Brazil and other developing economies which provide lucrative opportunity for key international players. The Asia-Pacific dairy alternative Market is undergoing a massive technological advancement over the past few years.
Asia Pacific is projected to account maximum market proportion of 45.14% by the end of 2017 and it is estimated to retain its dominance throughout the forecast period of 2017-2022. Asia Pacific region is estimated to be valued at USD 4.48 billion in the year of 2017 and it is projected to register a substantial growth of 14.80% during the review period.
This is attributed by the massive growth of food & beverages industry in developed economy of Asia Pacific region over the last decade. Apart from that, increasing consumer inclination to adopt plant based food instead of animal based food which in turn escalates the sales of dairy alternative in the Asia Pacific region.
North America region is estimated to account more than 30% of market proportion by the end of 2017 and the North America region is projected to grow at an above CAGR of 14.63% during the review period of 2017-2022.
Soy milk is estimated to retain its dominance throughout the forecast period of 2017-2022 and registering a CAGR of 14.76%. However, almond milk segment is projected to expand at a high pace and expected to register a CAGR of 15.19% during the review period.
Among the application, beverages is estimated to reach USD 11.05 billion by the end of 2022 with registering a CAGR of 14.40%. Among the formulation type, flavored is estimated to account for 63.9% of market proportion in the dairy alternative market by the end of 2017.
Key Players
The leading market players in the global Dairy alternative market primarily are 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.)
Study Objectives of Dairy alternative Market Forecast to 2022
• Detailed analysis for individual micro and macro markets for Dairy alternative
• To estimate market size by Source, Application, Formulations, Distribution Channel and Region
• To understand the supply and demand dynamics of Dairy alternative
• Company profiling of major players & competitive positioning for the Dairy alternative market
• Value chain analysis and supply chain analysis of dairy alternative
• Analysis of historical market trends, and technologies, and current government regulatory requirements related to Dairy alternative market
Target Audience
• Dairy Alternative manufacturers
• Soymilk manufacturers
• Food Service industries
• Retailers and wholesalers
• Traders, importers and exporters
Key Findings
• The Global dairy alternative market is projected to reach USD 19.58 billion by the end of 2022
• Soya milk sourced dairy alternative will continue to dominate the dairy alternative source market with more than 52% market proportion
• Beverages applications will continue to dominate the dairy alternative market with more than 55% market share and it is projected to grow at a CAGR of 14.40% by 2022
Regional and Country Analysis of dairy alternative market development and demand Forecast to 2022 Market
the global market for dairy alternative has witnessed continued demand during the last few years and is projected to reach USD 19.58 billion by 2022, at a CAGR of 14.55% during the forecasted period.
Asia Pacific is estimated to dominate the global dairy alternative market holding a lion’s share of more than 40% and projected to reach USD 8.93 billion by the end of 2022. North America is expected to witness moderate growth rate of 14.6% in the global dairy alternative market.
The reports also cover country level analysis:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
• Asia – Pacific
o China
o India
o Japan
o Australia & New Zealand
o Indonesia
o Others
• RoW
o Latin America
o Middle East
o Africa
o Others
