The primary factors driving the dairy alternative market are:
- Increase in lactose Intolerance and milk allergy
- Nutritional values of plant based dairy alternatives
- Changed lifestyle causing obesity and gastrointestinal problems
The major restraints for Global Dairy Alternates market are:
- High pricing of dairy alternatives as compared to dairy based products
- Lack of protein and cross contamination of raw materials
The factors that can provide opportunities to the key players of the market are:
- Innovative marketing practices and creating awareness
- Increasing demand from developing countries
Considering the market segmentation of dairy alternatives, there are various food and beverage options available in supermarkets, convenience stores, pharmacies and health stores to grab the attention of the consumer. However, the major market share is taken by beverages in the global scenario and it is expected to grow in the coming years. The sales channel followed by dairy alternatives is similar to that of dairy options in convenience stores and supermarkets.
The types of dairy alternatives available consists of almond milk, soy milk, rice milk, coconut milk and various other nut based milks such as cashew, hazelnut etc. Soy milk has been the oldest option available to replace dairy milk. However, substitutes such as almond milk and coconut milk have grabbed the market significantly in the last couple of years. The dollar sales of almond milk have increased by 40% on unit and volume, from 2013 to 2014. It accounts for more than one- half of the total category sales. Rice milk, nut based milk and coconut milk are in the growing phase. However, almond milk is leading the market and expected to be customers’ first preference in the forecast period.
The availability of dairy alternative products based on two types: unsweetened and sweetened. However, the plain unsweetened formulation is projected to dominate the dairy alternatives market due to the health conscious behaviors of customers, which tips them towards healthy versions of available products.
Asia-Pacific is the largest market for dairy alternatives. China, being dominant in the Asia-Pacific region, especially contributes to the soymilk market share. Factors such as increasing health awareness among the consumers, increasing population and rise in the disposable income of the consumers are boosting the demand for dairy alternatives. North America is the second largest market for dairy alternatives after Asia-Pacific. North America and Europe are considered as growing markets of dairy alternative beverages.
MAJOR PLAYERS: DAIYA FOODS INC., EARTH'S OWN FOOD COMPANY INC., PANOS BRANDS LLC., EDEN FOODS INC., FREEDOM FOODS GROUP LTD., BLUE DIAMOND GROWERS INC., THE HAIN CELESTIAL GROUP INC., THE WHITEWAVE FOODS COMPANY, SANITARIUM HEALTH & WELLBEING COMPANY, SUNOPTA INC., ARCHER DANIELS MIDLAND COMPANY and NUTRIOPS S.L., amongst others.
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1.1 Research methodology
1.2 Market Definition
2. Key Findings
3. Market Overview
3.2 Market Dynamics
3.3.1 Increase in lactose Intolerance and milk allergy
3.3.2 Nutritional values of plant based dairy alternatives
3.3.3 Changed lifestyle causing obesity and gastrointestinal problems
3.4.1 High pricing of dairy alternatives as compared to dairy based products
3.4.2 Lack of protein and cross contamination of raw materials
3.5.1 Innovative marketing practices and creating awareness
3.5.2 Increasing demand from developing countries
3.6 Porter’s Five Forces Analysis
3.6.1 Bargaining power of Suppliers
3.6.2 Bargaining power of Buyers
3.6.3 Degree of Competition
3.6.4 Threat of Substitution
3.6.5 Threat of new entrants
3.7 Consumer Behavior Analysis
3.7.1 Consumer Demand Analysis
3.7.2 Target Market Identification
220.127.116.11 Purchasing Power
18.104.22.168 Demographic Strengths & Weaknesses
22.214.171.124 Spending Patterns
4. Market Segmentation
4.1 Dairy Aletrnatives Market , By type
4.1.1 Soy Milk
4.1.2 Almond Milk
4.1.3 Coconut Milk
4.1.4 Rice Milk
4.1.5 Others (hemp milk, oat milk, cashew milk, hazelnut milk)
4.2 Dairy Alternatives Market, By Application
4.3 Dairy Alternatives Market, By Formulation
4.3.1 Sweetened Products
126.96.36.199 Plain Formulation
188.8.131.52 Flavored Formulation
4.3.2 Unsweetened Products
184.108.40.206 Plain Formulation
220.127.116.11 Flavored Formulation
4.4 Dairy Alternatives Market, By sales channel
4.4.1 Super Markets
4.4.2 Convenience Store
4.4.4 Health Food Stores
4.5 Dairy Alternatives Market, By Region
4.5.1 North America
4.5.4 South America
18.104.22.168 South Africa
5. Competitive Landscape Overview
5.1 Market Share Analysis
5.2 Strategies by leading players
5.3 New Product Developments &Other Innovations
6. Company Profiles
6.1 Daiya Foods Inc.
6.2 Earth's Own Food Company Inc.
6.3 Panos Brands LLC.
6.4 Eden Foods Inc.
6.5 Freedom Foods Group Ltd.
6.6 Blue Diamond Growers Inc.
6.7 The Hain Celestial Group Inc.
6.8 The WhiteWave Foods Company
6.9 Sanitarium Health & Wellbeing Company
6.10 Sunopta Inc.
6.11 Archer Daniels Midland Company
6.12 Nutriops S.L.
- Daiya Foods Inc.
- Earth's Own Food Company Inc.
- Panos Brands LLC.
- Eden Foods Inc.
- Freedom Foods Group Ltd.
- Blue Diamond Growers Inc.
- The Hain Celestial Group Inc.
- The WhiteWave Foods Company
- Sanitarium Health & Wellbeing Company
- Sunopta Inc.
- Archer Daniels Midland Company
- Nutriops S.L