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The dairy alternatives market encompasses a wide range of non-dairy products that are derived from plant-based sources and serve as substitutes for conventional dairy-based items. These products include milk, cheese, yogurt, ice cream, and other related food items made from sources such as soy, almond, coconut, oats, rice, and hemp. The primary focus is on offering consumers nutritional benefits similar to traditional dairy products while eliminating lactose and accommodating various dietary preferences such as veganism or specific allergies or intolerances. Dairy alternatives are used across multiple industries, including food & beverage manufacturing (confectionery, bakery), food service (restaurants, cafes), and retail sectors (supermarkets & grocery stores). Increasing preference for plant-based diets due to health reasons and sustainability issues associated with conventional farming practices have driven the demand for dairy-free alternatives. However, higher prices compared to conventional dairy products and cases of product recalls pose hurdles to the adoption of dairy-free alternatives. Additionally, concerns regarding nutritional adequacy and stringent regulations pertaining to the nutritional content of dairy-free products adversely affect the growth of the industry. Major companies are developing products with enhanced nutritional profiles to tackle these concerns. These products can compete with traditional dairy products in taste and health benefits. Furthermore, expanding distribution channels through online platforms has expanded the accessibility of dairy-based alternatives.
Regional Insights
The consumption of dairy-free products in the Americas has been steadily increasing owing to several crucial factors, including consumer demand for dairy alternatives and a reshaped food industry landscape. An increased focus on health and ethical considerations related to animal welfare has driven the rising consumption of dairy-free food products. Additionally, the Americas is characterized by an expanding range of innovative dairy-free product offerings. In Europe, a strong focus on sustainability and ethical consumerism has led to increased demand for dairy alternatives. There is a growing inclination toward veganism and vegetarianism in Europe driven by ethical reasons concerning animal welfare. Furthermore, countries such as Sweden and Norway have introduced dietary guidelines that support reduced animal product consumption. China, Japan, and India represent significant markets for dairy alternatives within the Asia-Pacific region due to their large populations and shifting consumer preferences toward healthier lifestyles. Japanese consumers are increasingly opting for non-dairy milk due to health concerns related to milk allergy cases. In India, the dairy alternatives market is driven by a large vegetarian population and growing consumer awareness regarding lactose intolerance.FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Dairy Alternatives Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Dairy Alternatives Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Dairy Alternatives Market, highlighting leading vendors and their innovative profiles. These include Adisoy Foods & Beverages Pvt. Ltd., Archer Daniels Midland Company, Armored Fresh, Axiom Foods, Inc., Califia Farms, LLC, Cargill, Incorporated, Dancing Cow Foods Private Limited, Danone S.A., Drupe Foods India Pvt Ltd., DUG by Veg of Lund, Earth’s Own Food Company Inc. by Agrifoods International Cooperative Ltd., Eden Foods, Inc., Good Karma Foods, Inc., GT’s Living Foods LLC, Kerry Group PLC, Lipoid Kosmetik AG, Maeil Dairies Co., Ltd., Milkadamia, Nestlé S.A., Oddlygood Global Oy by Valio Ltd., Pacific Foods by Campbell Soup Company, Planet Oat by HP Hood LLC, Plant Veda Foods Ltd., Purefoods by Rollins International Pvt. Ltd., Ripple Foods PBC., Sain Milks, Sanitarium Health Food Company, SunOpta, Inc., The Hain Celestial Group, Inc., TheNotCompany Inc., and Upfield B.V.Market Segmentation & Coverage
This research report categorizes the Dairy Alternatives Market to forecast the revenues and analyze trends in each of the following sub-markets:- Product
- Butter
- Cheese
- Milk
- Yogurt
- Source
- Almond
- Coconut
- Oat
- Rice
- Soy
- Distribution Channel
- Offline
- Convenience Stores
- Health Food Stores
- Pharmacies
- Supermarkets & Hypermarkets
- Online
- Offline
- End-Use
- Beverages
- Dietary Supplements
- Food
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as
- What is the market size and forecast of the Dairy Alternatives Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Dairy Alternatives Market?
- What are the technology trends and regulatory frameworks in the Dairy Alternatives Market?
- What is the market share of the leading vendors in the Dairy Alternatives Market?
- Which modes and strategic moves are suitable for entering the Dairy Alternatives Market?
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Table of Contents
Companies Mentioned
- Adisoy Foods & Beverages Pvt. Ltd.
- Archer Daniels Midland Company
- Armored Fresh
- Axiom Foods, Inc.
- Califia Farms, LLC
- Cargill, Incorporated
- Dancing Cow Foods Private Limited
- Danone S.A.
- Drupe Foods India Pvt Ltd.
- DUG by Veg of Lund
- Earth’s Own Food Company Inc. by Agrifoods International Cooperative Ltd.
- Eden Foods, Inc.
- Good Karma Foods, Inc.
- GT’s Living Foods LLC
- Kerry Group PLC
- Lipoid Kosmetik AG
- Maeil Dairies Co., Ltd.
- Milkadamia
- Nestlé S.A.
- Oddlygood Global Oy by Valio Ltd.
- Pacific Foods by Campbell Soup Company
- Planet Oat by HP Hood LLC
- Plant Veda Foods Ltd.
- Purefoods by Rollins International Pvt. Ltd.
- Ripple Foods PBC.
- Sain Milks
- Sanitarium Health Food Company
- SunOpta, Inc.
- The Hain Celestial Group, Inc.
- TheNotCompany Inc.
- Upfield B.V.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 195 |
Published | March 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 27.66 Billion |
Forecasted Market Value ( USD | $ 42.76 Billion |
Compound Annual Growth Rate | 6.4% |
Regions Covered | Global |
No. of Companies Mentioned | 31 |