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Dairy Alternative Products Market - Growth, Trends, And Forecast (2019 - 2024)

Global 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:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

 Global Dairy Alternative Products Market is forecasted to reach USD 23.35 billion growing at a CAGR of 9.85% during the forecast period (2019 - 2024).

  • Asia-Pacific was the largest geographical segment of the market studied. Improved consumer preferences for non-dairy products, with a myriad of food choices, has enabled them to get most of the nutrients they need without sacrificing taste.
  • Most of the consumers are seen switching from dairy to dairy-free products, because they are constantly getting aware of the fact that dairy-free diets may help alleviate certain problems, including digestive distress, an inability to lose weight, acne, and irritable bowel syndrome. Higher availability of dairy alternative products, along with growing awareness regarding benefits of dairy alternatives, will continue to drive the market over the forecast period.

Scope of the Report

Global 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. 

By Type
Food
Frozen Desserts
Yogurt
Others
Beverages
Soy Milk
Almond Milk
Coconut Milk
Rice Milk
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa

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Key Market Trends

Rising Consumer Interest in Health and Sustainability

Consumer demand for alternatives to dairy is on the rise, and with it, is increasing the ever-expanding array of plant-based products to choose from. This is especially evident when considering milk substitutes. Each type of non-dairy milk offers a unique nutritional profile, with a wide range of values for protein, carbohydrates, and fat, along with vitamins and minerals. More importantly, apart from nutritional profile, words like “sustainable”, “green”, and “eco”- even leafy packaging or other marketing materials- tend to draw the eyes of consumers bombarded daily, with advertising messages, which is driving the consumption of dairy alternatives in the market, which are usually being positioned as sustainable products across the retail shelves.

dairy alternatives trend1

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Asia-Pacific to Dominate the Global Market

The health and wellness trend in Asia - Pacific has brought the issue of food intolerances and allergies to the forefront of modern consumers’ minds, boosting the consumption of dairy alternative products. Consumers are starting to prefer products that are low in calories, contain no artificial ingredients, and protein-rich. This is driving the studied market's growth. Plant-based beverages provide vegetable protein or mixed proteins, which cater to the rising need for a healthy lifestyle. Consumers of plant-based protein in Asia-Pacific have adopted a dairy-free diet to improve their health and well-being, as plant-based diets can not only help curb obesity, stroke, and heart disease, prevent a variety of cancers, reduce cholesterol and arthritis pain, but also lower blood sugar, and increase energy and mental clarity.

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Competitive Landscape

The dairy alternative products market is highly fragmented, with various small and medium-sized companies and a few big players, resulting in stiff competition in the market. The market has the presence of various family-owned private companies operating in distinct categories and their presence is limited to fewer countries across the region. Some examples include Edward & Sons Trading Co., Earth's Own Food Company, Goya Foods Inc., Eden Foods Inc., Califia Farms, Ripple Foods, Hudson River Foods, etc.

 

Major Players

  1. Groupe Danone
  2. Vitasoy International Holdings
  3. Freedom Food Group Ltd
  4. Kikkoman Corporation
  5. Campbell Soup Company

* Complete list of players covered available in the table of contents below

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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 Porters 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 Type

      1. 5.1.1 Food

        1. 5.1.1.1 Frozen Desserts

        2. 5.1.1.2 Yogurt

        3. 5.1.1.3 Others

      2. 5.1.2 Beverages

        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 Others

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

        4. 5.2.1.4 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 UK

        3. 5.2.2.3 France

        4. 5.2.2.4 Russia

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia Pacific

        1. 5.2.3.1 India

        2. 5.2.3.2 China

        3. 5.2.3.3 Japan

        4. 5.2.3.4 Rest of Asia-Pacific

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East and Africa

        1. 5.2.5.1 UAE

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Key Strategies Adopted

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Groupe Danone

      2. 6.4.2 Blue Diamond Growers

      3. 6.4.3 Campbell Soup Company

      4. 6.4.4 Hain Celestial Group.

      5. 6.4.5 Goya Foods Inc.

      6. 6.4.6 Califia Farms

      7. 6.4.7 Daiya Food Inc.

      8. 6.4.8 Sanitarium Health & Wellbeing Company

      9. 6.4.9 Earth's Own Food Company

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

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