Dairy Alternatives Market Latest Insights, Trends and Revenue Analysis Report 2024

Felton, California , USA, September 24 2021 — /EPR Network/ — Global Dairy Alternatives Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Dairy Alternatives market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Dairy Alternatives Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Dairy Alternatives Market forecast.

 

The Dairy Alternatives Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.

 

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Global Dairy Alternatives Market is projected to reach USD 35.6 billion by 2024. The Dairy alternatives-based food and beverages are prepared from dairy-free milk, extracted from several plant-based sources such as soy, rice, almond, coconut, and others. Widely consumed dairy substitute-based products are ice-cream, milk, butter, energy drinks, soft drinks, cheese, and others. The dairy alternatives have a robust demand with respect to manufacturing medical food for their lactose-free nature, lactose intolerance ailments. The development of this market can be ascribed to the preference of customers toward a vegan diet, rising occurrences of lactose intolerance between the populace, and the increasing demand for several refresh dairy food & beverage applications.

 

In addition, the low-fat content and low cholesterol concentration in dairy alternative beverages, and their increasing demand will initiate the growth of the market. Moreover, the dairy alternatives offer several benefits such as increasing awareness among people, and as the dairy alternatives products contain vitamin, high calcium, the market will upsurge in the forecast period. On the other hand, factors such as High price of dairy alternative beverages, cross contamination of raw materials may hamper the growth of dairy alternatives industry in the forthcoming period and anticipated to grow at a CAGR of 16.6% in the upcoming period as the scope, product types, and its applications are growing across the globe.

 

Dairy alternatives market may be explored by type, applications, formulations, distribution channel and geography. The market may be explored by type as Soy, Coconut, Almond, Oat, Hemp, and Rice. Soy milk accounted for 40.5% of the major share of the global market size analysis in 2016. The factors that attribute to the growth of this sector is the prevention of breast cancer, and heart diseases, will upsurge the market growth in the upcoming period.

 

Dairy alternatives industry may be explored by application as Food, and Beverages. Amongst the applications segment, Beverages are estimated to account for the highest growing segment in the forecast period. Increasing demand for flavored milk products, and its growing health benefits will upsurge the market. The market may be explored by Formulations as Plain & unsweetened, Flavored & sweetened, Plain & sweetened, and Flavored & unsweetened. Dairy alternatives market may be explored by distribution channel as Supermarket, Convenience Retailers, Pharmacy

 

Asia-Pacific has been at the forefront with regards to dairy alternatives industry and will continue to rule the roost in the years to come. The Asia Pacific accounted for the major share of 49.7% of the global volume in 2016. The region is estimated to continue to be a foremost user over the forthcoming period due to increasing demand of consumer for plant-based food along with the increasing occurrence of lactose intolerance. In Asia-Pacific region, the food and beverage market is undergoing transformation in response to the diet diversification, the liberalization of foreign direct investment in food segment, and rapid urbanization. Asia-Pacific is followed by North America and anticipated to be the highest growing economies for dairy alternatives market from 2013-2024.

 

Some of the key players that fuel the development of the dairy alternatives industry include Panos Brands LLC, Organic Valley Family of Farms, Earth’s Own Food Company Inc., Eden Foods Inc., The White wave Foods Company, Living Harvest Foods Inc., Blue Diamond Growers Inc., Grupo Le Pascual Sa, The Hein Celestial Group Inc., The Bridge S.R.L., OATLY A.B., and Sunopta Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

 

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