Dairy alternative based food and beverages are prepared from dairy-free milk, extracted from various plant-based sources. Lactose intolerant and vegan individuals are increasingly consuming dairy alternative based food and beverages. There are wide variety of food and beverages available in the market, prepared from milk, derived from sources such as almond, soy, rice, coconut, and others. Popularly consumed dairy alternative based products are milk, ice cream, cheese, butter, and others.
Increasing awareness about the benefits of dairy alternative products and growth in vegan population are the major factors boosting the demand for the dairy alternative based products. In addition, increasing health consciousness, rise in disposable income, and awareness towards chemical free products are factors positively affecting the market. Higher cost compared to conventional milk and milk based products as well as prominence of low-cholesterol, and low-fat conventional milk and milk based products have emerged to be major challenges for the players operating in the market. The market is anticipated to offer attractive business opportunities owing to the rising lactose intolerance and increasing demand for soy, rice, and almond milk proteins in the global market. Moreover, innovation in sources and flavors of dairy alternative based food & beverages is to unfold opportunity for the players operating in the market.
The world dairy alternative market is segmented on the basis of source, application, distribution channel, and Region. By source, market is categorized into four segments, which include soy, almond, rice, and other sources. By application, the market is segmented as food which includes spread, creamer, yogurt, tofu and others; beverages which includes dairy alternative milk, dairy-free probiotic drinks and others. Large retail, small retail, specialty store and online are the segmentations by distribution channel. Regionally, the market is classified into North America, Europe, Asia-Pacific, and LAMEA.
The companies profiled in the report are WhiteWave Foods Company, Blue Diamond Growers, SunOpta Inc., Earth’s Own Food Inc., Living Harvest Foods Inc., Kikkoman Corporation, Rebel Kitchen, Organic Valley, Panos Brands LLC, The Hain Celestial Group Inc., and Eden Foods Inc
KEY BENEFITS FOR STAKEHOLDERS
Key MARKET SEGMENTATION
By Source
By Application
By Distribution Channel
By Region
Increasing awareness about the benefits of dairy alternative products and growth in vegan population are the major factors boosting the demand for the dairy alternative based products. In addition, increasing health consciousness, rise in disposable income, and awareness towards chemical free products are factors positively affecting the market. Higher cost compared to conventional milk and milk based products as well as prominence of low-cholesterol, and low-fat conventional milk and milk based products have emerged to be major challenges for the players operating in the market. The market is anticipated to offer attractive business opportunities owing to the rising lactose intolerance and increasing demand for soy, rice, and almond milk proteins in the global market. Moreover, innovation in sources and flavors of dairy alternative based food & beverages is to unfold opportunity for the players operating in the market.
The world dairy alternative market is segmented on the basis of source, application, distribution channel, and Region. By source, market is categorized into four segments, which include soy, almond, rice, and other sources. By application, the market is segmented as food which includes spread, creamer, yogurt, tofu and others; beverages which includes dairy alternative milk, dairy-free probiotic drinks and others. Large retail, small retail, specialty store and online are the segmentations by distribution channel. Regionally, the market is classified into North America, Europe, Asia-Pacific, and LAMEA.
The companies profiled in the report are WhiteWave Foods Company, Blue Diamond Growers, SunOpta Inc., Earth’s Own Food Inc., Living Harvest Foods Inc., Kikkoman Corporation, Rebel Kitchen, Organic Valley, Panos Brands LLC, The Hain Celestial Group Inc., and Eden Foods Inc
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing dairy alternatives market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the size and segmentation assists in determining the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the global industry.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the dairy alternatives industry.
Key MARKET SEGMENTATION
By Source
- Soy
- Almond
- Rice
- Other Sources
By Application
- Food
- Spread
- Creamer
- Yogurt
- Tofu
- Others
- Beverages
- Dairy Alternative Milk
- Soy Milk
- Almond Milk
- Rice Milk
- Others
- Dairy-free Probiotic Drinks
- Others
By Distribution Channel
- Large Retail
- Small Retail
- Specialty Store
- Online
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Rest of LAMEA
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Dairy Alternative Market, By Source
Chapter 5: Dairy Alternative Market, By Application
Chapter 6: Dairy Alternative Market, By Distribution Channel
Chapter 7: Dairy Alternative Market, By Region
Chapter 8: Company Profiles
Executive Summary
According to the report titled, 'Dairy Alternatives Market by Source, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026, 'the dairy alternatives market size was valued at $13,021.0 million in 2018 and is estimated to reach $35,804.6 million by 2026, registering a CAGR of 13.6% from 2019 to 2026. In 2018, the Asia-Pacific region accounted for more than two-fifth of the share in the global market and is expected to grow at a CAGR of 14.5% throughout the forecast period. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2018.Dairy alternatives are plant-based natural and chemical free milk products derived through grains, seeds, or nuts. Dairy alternative products act as a substitute for consumers who are allergic to dairy products or people who are on a vegan diet. Some of the major alternatives to dairy are non-dairy milk, ice cream, cheese, yogurts, juice, energy drinks, and soft drinks.
The factors that drive the dairy alternatives market growth include health benefits associated with consuming plant based milk as they are high in micro and macronutrient content as well as low in fat and cholesterol content. The rise in fitness concerns among people in different regions has also helped the market. Additionally, increase in the number of lactose intolerant population, growing trend of veganism, and rise in disposable income also drive the market growth. However, increase in cost of raw materials due to unpredictable weather and high cost of production are expected to hamper the growth of market during the forecast period. Rise in the demand for alternatives to dairy by health-conscious consumers and frequent introduction of new flavors & variety are expected to provide numerous opportunities for expansion of the dairy alternatives market.
The dairy alternatives market is segmented on the basis of source, application, distribution channel, and region. By source, market is categorized into four segments, which include soy, almond, rice, and other sources. By application, the market is segmented as food which includes spread, creamer, yogurt, tofu and others; beverages which includes dairy alternative milk, dairy-free probiotic drinks and others. Large retail, small retail, specialty store and online are the segmentations by distribution channel. Regionally, the market is classified into North America, Europe, Asia-Pacific, and LAMEA.
According to the dairy alternatives market analysis by source, the soy segment generated the highest revenue in 2018 and is expected to remain dominant throughout the forecast period. However, the other sources segment is expected to grow at the highest CAGR throughout the forecast period.
In 2018, the beverages segment was the most prominent segment accounting for maximum share in the global dairy alternatives market. However, the food segment is expected to witness notable growth, with a CAGR of 12.7% from 2019-2026.
Based on the distribution channel, the large retail segment was the leading distribution channel with most of the dairy alternatives market share in 2018. However, the online segment is expected to witness the fastest growth through the forecast period.
Based on the dairy alternatives market forecast, Asia-Pacific and North America accounted for the maximum share in the global market in 2018 and is expected to remain dominant during the forecast period. China is expected to grow with the highest CAGR throughout the forecast period, owing to the adoption of veganism among consumers.
Key Findings of the Dairy Alternatives Market:
The dairy alternatives market was valued at $13,021.0 million in 2018 and is estimated to reach $35,804.6 million by 2026, growing at a CAGR of 13.6% through the forecast period.
Based on source, the almond segment would witness the fastest growth, registering a CAGR of 14.6% during the forecast period.
In 2018, based on application, the beverage segment held the highest share, accounting for more than half of the global market share.
In 2018, China was the most prominent market in the Asia-Pacific region and is expected to grow at a significant CAGR throughout the forecast period.
Asia-Pacific was the dominant region in 2018, accounting for more the two-fifth of the dairy alternatives market share.
The key players in the dairy alternatives industry profiled in the report are WhiteWave Foods Company, Blue Diamond Growers, SunOpta Inc., Earth’s Own Food Inc., Living Harvest Foods Inc., Kikkoman Corporation, Rebel Kitchen, Organic Valley, Panos Brands LLC, The Hain Celestial Group Inc., and Eden Foods Inc.
Companies Mentioned
- WhiteWave Foods Company
- Blue Diamond Growers
- SunOpta Inc.
- Earth’s Own Food Inc.
- Living Harvest Foods Inc.
- Kikkoman Corporation
- Rebel Kitchen
- Organic Valley
- Panos Brands LLC
- The Hain Celestial Group Inc.
- Eden Foods Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
