Asia-Pacific Dairy Alternatives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Asia Pacific Dairy Alternative Products Market is segmented by type into Food as Frozen Dessert, Yogurt, Others ; Beverages as Soy milk, Almond milk, Coconut Milk, Rice milk, and other types; by sales channel into Supermarkets/Hypermarkets, Convenience stores, Online Stores; & Geography

Market Snapshot

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Study Period: 2016 - 2026
Base Year: 2020
CAGR: 11.6 %
Largest Market: China

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Market Overview

Asia Pacific dairy alternative market is projected to grow at a CAGR of 11.6% during the forecast period (2020 - 2025).

  • Asia-Pacific is the largest market for dairy alternatives, and the fastest growing region. People use dairy alternative products for many reasons; most people prefer dairy-free products to get relief from digestive issues, like bloating, skin issues, etc.
  • In the recent years, the consumption of milk alternatives has steadily increased, due to the increasing number of vegans and health concerns about antibiotics and growth hormones often found in cow's milk.
  • Lactose intolerance and milk allergy are the key drivers for new product development, which is growing the Asia-Pacific market. Asia-Pacific, with over 4.3 billion citizens and a population with high lactose intolerance, has very few options of lactose-free products for adults.

 

Scope of the Report

Asia-Pacific Dairy Alternative Products Market includes dairy free food such as Frozen Dessert, Yogurt, Others. The others include sour cream,  Dairy free beverages include Soy milk, Almond milk, Coconut Milk,  Rice milk, and other types. The other beverages include cashew milk, pea milk, oat milk, hemp milk, by sales channel into Supermarkets/Hypermarkets, Convenience stores, Online Stores; and others. The other sales channel include warehouse, discounters, kiosks, vending machines, etc. 

 

Product Type
Food
Yoghurt
Frozen Desserts
Other foods
Beverage
Soy Milk
Almond milk
Coconut Milk
Rice Milk
Other Beverages
Distribution Channel
Hypermarket/Supermarket
Convenience Stores
Online Retail Channels
Other Distribution Channels
Geography
China
Japan
India
Australia
Rest of Asia Pacific

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Key Market Trends

Almond Milk is the fastest growing product segment

Factors, such as, demographic changes, lactose intolerance, allergies, veganism, the paleo diet, general health and wellbeing, and changing consumer perceptions, are identified as the reasons behind the increasing consumption of almond milk as an alternative to dairy milk. Almond milk is the most preferred dairy alternative, as it is light, contains good fat content, and blends perfectly into Asian cuisine, even replacing cram in curries

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India holding a prominent share in the market

Vegetarian-friendly plant-based milk alternatives are poised to pressurize the traditional dairy market in a heavily vegetarian country like India. Soya milk is arguably the most popular and easiest-to-find non-dairy milk in the Indian market. Made from soya beans, fortified soya milk has just as much protein as cows’ milk and is a great source of calcium and vitamin D. Vegan milk has a strong presence in the Indian market, with brands like Sofit and Staeta, piled up in supermarket shelves, with their almond milk and soya milk.

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Competitive Landscape

The market studied has a dynamic market scenario with global dairy giants entering the global dairy alternatives market, owing to declining sales of dairy products across various countries and growing preference toward-plant-based food and beverage products. among Asian consumers Owing to declining sales of dairy products across major regions and growing preference toward-plant-based food and beverage products. Owing to its diversified product portfolio that includes soy, almond, rice, cashew, coconut based food and beverages, the key market players like Hershey's, Sanitarium Health & Wellbeing Company,  hold a prominent share in the global dairy alternative market. The launch of new and innovative products has been the crucial strategy for higher market penetration by key players.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Food

        1. 5.1.1.1 Yoghurt

        2. 5.1.1.2 Frozen Desserts

        3. 5.1.1.3 Other foods

      2. 5.1.2 Beverage

        1. 5.1.2.1 Soy Milk

          1. 5.1.2.1.1 Almond milk

          2. 5.1.2.1.2 Coconut Milk

          3. 5.1.2.1.3 Rice Milk

          4. 5.1.2.1.4 Other Beverages

    2. 5.2 Distribution Channel

      1. 5.2.1 Hypermarket/Supermarket

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Online Retail Channels

      4. 5.2.4 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 China

      2. 5.3.2 Japan

      3. 5.3.3 India

      4. 5.3.4 Australia

      5. 5.3.5 Rest of Asia Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Active Companies

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Otsuka Pharmaceutical Co.

      2. 6.4.2 Blue Diamond Growers

      3. 6.4.3 Danone S.A.

      4. 6.4.4 Sanitarium

      5. 6.4.5 The Hain Celestial Group Inc.

      6. 6.4.6 Califia Farms

      7. 6.4.7 Earth's Own Food Company Inc.

      8. 6.4.8 Campbell Soup Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Dairy Alternatives Market market is studied from 2016 - 2026.

The Asia-Pacific Dairy Alternatives Market is growing at a CAGR of 11.6% over the next 5 years.

The Asia-Pacific Dairy Alternatives Market is valued at China in 2026.

Danone S.A., Earth’s Own Food Company, Sanitarium, Otsuka Pharmaceutical Co. are the major companies operating in Asia-Pacific Dairy Alternatives Market.

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