South America Dairy Alternative Market - Growth, Trends, and Forecast (2018-2023)

Market Insights

South America dairy alternative market is expected to register a CAGR of 15%, during the forecast period, 2018-2023. The soy milk segment of dairy alternative products account for the largest market share owing to the varieties offered by dairy alternative manufacturers. The plain unsweetened formulation is anticipated to dominate the market due to the growing demand for unsweetened soy and almond milk for manufacturing various food items. Beverage is projected to be the fastest growing market segment.

Market Dynamics

Factors, like increased awareness of consumers toward a vegan diet, lactose intolerance among the population and demand for various fortified dairy food & beverage applications are boosting South American diary alternative market growth. The rising middle class and younger generation in South America have shifted to the dairy alternative products.

However, high cost of dairy alternative milk and prominence of low cholesterol and low fat conventional milk is expected to impede the growth in South American dairy alternative market.

The overall growth of dairy alternatives market in South America is driven by innovative product launches, online selling channel, rising number of dairy allergic customers, attractive marketing and promotional strategies. Also, the rise in the number of lactose intolerant people is powering the growth of the dairy alternatives market in South America.

Market Segmentation

South America dairy alternative market is segmented on the basis of type, application, distribution channel and geography. Supermarket is the most preferred channel by the consumer, as well as product provider in this market. Soy Milk holds the largest market share in this market followed by almond milk and others.

In the recent times, Brazil, Mexico and Argentina are observing high demand of dairy alternatives, mainly due to the changes in lifestyle and eating pattern.

Key developments

• February 2018 - Spanish company SoriaNatural has headed into the dairy alternative sector with an entirely new product-a canary grass seed drink. It is a natural addition to its existing range of products owing to its health benefits like high protein content, low fat, and others.

Major players - ARCHER DANIELS MIDLAND COMPANY, BLUE DIAMOND GROWERS INC., DAIYA FOODS INC., EARTHS OWN FOOD COMPANY INC., EDEN FOODS INC., FREEDOM FOODS GROUP LTD., NUTRIOPS S.L., PANOS BRANDS LLC., SANITARIUM HEALTH & WELLBEING COMPANY, SUNOPTA INC., THE HAIN CELESTIAL GROUP INC., THE WHITEWAVE FOODS COMPANY, among others.

Reasons to Purchase this Report

• Analyzing outlook of the market with the recent trends and Porters five forces analysis


• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come


• Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects


• Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market


• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years


• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players


• 3-month analyst support, along with the Market Estimate sheet (in excel)

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