Asia-Pacific Dairy Alternatives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia Pacific Dairy Alternative Products Market is segmented by product type (Food as Frozen Dessert, Yogurt, and others; Beverages as Soy milk, Almond milk, Coconut Milk, Rice milk, and other types), by distribution channel (Supermarkets/Hypermarkets, Convenience stores, Online Stores, and other distribution channels), and by Country. The report offers the market size and forecast of the market in value (USD million) for all the above segments.

Market Snapshot

Asia Pacific Dairy Alternatives Market Size
Study Period: 2016 -2027
Base Year: 2021
CAGR: 12.7 %
Asia Pacific Dairy Alternatives Market Key Players

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Market Overview

Asia Pacific dairy alternative market is projected to grow at a CAGR of 12.7% during the forecast period (2022 - 2027).

The outbreak of the COVID-19 pandemic has forced many people to choose healthy food alternatives. Thus, dairy alternatives gained popularity, benefiting from health and wellness trends, but not at the expense of traditional dairy. Experimentation with new dairy alternatives products and brands had accelerated during COVID-19 and is likely to persist. Consumers' focus on dairy products' environmental and social footprint has augmented during COVID-19 and will continue to influence purchasing decisions of select consumers.

In 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. According to government surveys, 23 to 37 per cent of Indians are estimated to be vegetarian in 2019.

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. Therefore, this factor is further promoting the sales of dairy alternatives products in the region studied.

Scope of the Report

Dairy Alternative foods are which that aren't derived from dairy sources such as cows, buffaloes etc., Most of them are plant-based products derived from vegetables, plants etc., The Asia-Pacific Dairy Alternative Products Market is segmented by product type, Distribution Channel, and Country. By product type, the market is segmented into dairy free food such as Frozen Dessert, Yogurt, Others. Dairy free beverages include Soy milk, Almond milk, Coconut Milk, Rice milk, and others such as cashew milk, oat milk, etc. By distribution channel, the market is segmented into Supermarkets/Hypermarkets, Convenience stores, Online Stores, and other distribution channels. By country, the market is segmented into China, Japan, India, Australia, and Rest of Asia-Pacific. For each segment, the market sizing and forecasting have been done in value terms of USD million.

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

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Key Market Trends

Growing preference for veganism

The multifunctionality of plant-based dairy food has led to the large-scale adoption of numerous applications. Additionally, consumers are on the lookout for a vegan diet. Dairy alternatives offer the advantages of low-fat, low-calorie, and low-cholesterol content, which appeals to health-conscious, vegan, and lactose-intolerant consumers.​ While not many consumers identify themselves as vegan or vegetarian, a growing number of people are pursuing ‘flexitarian’ or ‘lessitarian’ eating habits. This shift in consumer preference is putting the spotlight on plant-based ingredients and driving innovation across a multitude of product categories at the retail and restaurant levels.

Asia Pacific Dairy Alternatives Market Share

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.

Asia Pacific Dairy Alternatives Market Analysis

Competitive Landscape

  • The Asia-Pacific market is competitive and has a dynamic market scenario with global dairy giants entering the Asia Pacific dairy alternatives market, owing to declining sales of dairy products across various Asian countries and growing preference toward plant-based food and beverage products. Danone SA, Blue Diamond Growers, and Hain Celestial Group Inc. are some of the major players operating in the market. Product Innovation in terms of new and innovative flavors remains an important strategy implemented by the major players in the region.​

Major Players

  1. Sanitarium Health and Wellbeing Company

  2. Earth’s Own Food Company

  3. Blue Diamond Growers

  4. Freedom Foods Group Limited

  5. Vitasoy International Holdings Ltd.

Sanitarium Health and Wellbeing Company, Earth’s Own Food Company, Blue Diamond Growers Freedom Foods, Group Limited, Vitasoy International Holdings Ltd.

Recent developments

  • In 2019, Invigorate Foods announced its plan to invest INR 600 million (60 crore) in the next three years in plant, equipment, and other capital goods required for manufacturing soya milk products in India. ​
  • In 2019, Blue diamond had announced its expansion into the non-dairy yogurt alternative category with Almond Breeze Almondmilk Yogurt Alternative. This new plant-based yogurt alternative is rich, creamy, and comes by itself or paired with unique Blue Diamond almond toppings.
  • In 2018, Freedom Foods Group had introduced Like Milk to their product range. This is milk made of pea protein, which is rich in amino acids, calcium, vitamins B2 and B12 and vitamin D.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  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 By 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

        2. 5.1.2.2 Almond Milk

        3. 5.1.2.3 Coconut Milk

        4. 5.1.2.4 Rice Milk

        5. 5.1.2.5 Other Beverages

    2. 5.2 By 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 By Country

      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 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Vitasoy International Holdings Ltd.

      2. 6.4.2 Blue Diamond Growers

      3. 6.4.3 Danone S.A.

      4. 6.4.4 Sanitarium Health and Wellbeing Company

      5. 6.4.5 Freedom Foods Group Limited

      6. 6.4.6 Califia Farms

      7. 6.4.7 Earth's Own Food Company Inc.

      8. 6.4.8 Campbell Soup Company

      9. 6.4.9 Life Health Foods Pty Ltd.

      10. 6.4.10 CEBA

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

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability
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Frequently Asked Questions

The Asia-Pacific Dairy Alternatives Market market is studied from 2016 - 2027.

The Asia-Pacific Dairy Alternatives Market is growing at a CAGR of 12.7% over the next 5 years.

Sanitarium Health and Wellbeing Company, Earth’s Own Food Company, Blue Diamond Growers, Freedom Foods Group Limited, Vitasoy International Holdings Ltd. are the major companies operating in Asia-Pacific Dairy Alternatives Market.

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