Global Dairy Alternatives Market: key Vendors, Trends, Analysis, Segmentation, Forecast to 2020-2027

Dairy Alternatives Market

Dairy Alternatives Market: An Overview 

The global dairy alternatives market was valued at USD 19.82 Billion in 2019 and is expected to USD reach 46.90 Billion, delivering a CAGR of 12.2% through 2027. The market growth is driven by an increasing lactose-intolerant populace and a growing veganism trend globally. 

The non-dairy substitutes or alternatives are mainly obtained from cereals such as rice, oats, wheat, nuts, barley, and others. The paradigm shift towards non-dairy substitutes for milk and other items due to improved health benefits. The increasing product availability and promotion of plant-based alternatives compared to traditional dairy products are poised to boost dairy alternatives market growth through 2027. 

Dairy Alternatives Market Dynamics 

Rise in investments directed towards the R&D for development of new technologies to enhance the taste and quality of dairy alternatives, such as fortification of food items, enhanced shelf life, the removal of flavor & inhibitors, and making them more identical to dairy products will foster the non-dairy substitute market share. Moreover, the deployment of novel technologies, like enzymatic liquefaction and Ultra High Processing for the efficient production of various non-dairy substitute food items, will open major growth avenues for the industry. 

However, the high price point of dairy alternatives remains the only growth restricting factor for the dairy alternatives market. 

Dairy Alternatives Market: Regional Outlook 

In the regional landscape, the Asia Pacific region is estimated to contribute significantly to the market share, showcasing notable growth through 2027 due to the growing awareness of veganism in the developing countries and increased popularity and preference for dairy substitutes. The regional growth can also be attributed to a rise in the populace in the region who suffer from lactose intolerance. Moreover, rising per capita income, the changing standard of living, and health concerns will positively impact regional growth.  

The production and consumption of dairy alternatives in developed regions across North America and Europe are considerably high. North America is the second-highest revenue generating market. At the same time, Europe is estimated to grow at a CAGR of 12.2% over the forecast period. 

Browse Complete Report @ https://www.reportsanddata.com/report-detail/dairy-alternatives-market 

Major players in the dairy alternatives market 

• The WhiteWave Food Company
• Archer Daniels Midland Company
• Blue Diamond Growers
• The Hain Celestial Group Inc.
• Panos Brands LLC
• Eden Foods, Inc.
• Earth’s Own Food Company
• SunOpta Inc.
• Daiya Foods, Inc.
• CP Kelco
• Freedom Foods Group Ltd. 

Impact of COVID-19 on Dairy Alternatives Market 

The coronavirus pandemic has affected the global economy and markets by directly impacting production and demand and creating supply chain disruption. The financial impact on most of the markets has been huge. As the COVID-19 crisis unfolds, disruptions in domestic and international food supply chains are still affecting food production. The demand for non-dairy substitute products in commercial places like hotels and restaurants has declined due to several restrictions on dining. However, people are still purchasing grocery items, including non-dairy substitutes for milk products, through e-commerce services. The solution to various multi-layered uncertainties experienced by product manufacturers and industries involved in the supply chain are covered in this research report. 

Regional analysis includes

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Report Highlights:

• Detailed overview of the parent market
• Changing positive dairy alternatives market dynamics in the industry
• In-depth dairy alternatives market segmentation
• Historical, present, and projected dairy alternatives market size in terms of volume and value
• Recent dairy alternatives market trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Segments, sub-segments, and geographical regions exhibiting promising growth
• A neutral perspective on the dairy alternatives market

Market: Segmentation

This report shows the revenue growth at global, regional, and country levels to provide an analysis of the market trends in each segment and sub-segment from 2017 to 2027. For this study, Reports and Data has segmented the global dairy alternatives market based on product, application, end-use, and region.

Product Type Outlook (Revenue, USD Million; 2017-2027)

• Soy Milk
• Almond Milk
• Coconut Milk
• Rice Milk
• Oat Milk
• Hemp Milk
• Others

Formulation Outlook (Revenue, USD Million; 2017-2027)

• Flavored Formulation
• Plain Formulation

Application Outlook (Revenue, USD Million; 2017-2027)

• Food
• Beverage

Distribution Channel Outlook (Revenue, USD Million; 2017-2027)

• Super Markets
• Health Food Stores
• Pharmacies
• Convenience Stores
• Online Stores
• Others

Read News About “Dairy Alternatives Market Information & Analysis by Product Type (Soy Milk, Almond Milk, Coconut Milk, Rice Milk, Oat Milk, Hemp Milk, and Others), Formulation (Flavored and Plain), Application (Food and Beverages), Distribution Channel and Segments: Forecast To 2027” @ https://www.globenewswire.com/news-release/2019/04/09/1799959/0/en/Dairy-Alternatives-Market-To-Reach-USD-41-80-Billion-By-2026-Reports-And-Data.html