The global dairy alternatives market size is expected to
reach USD 41.06 billion by 2025 at a 16.7% CAGR during the forecast period,
according to a new report by Grand View Research, Inc. Increasing occurrence of
milk allergies among consumers is likely to be a key factor driving the market.
Increasing popularity of almond milk, owing to high
protein, fiber, lipids, and energy content, is projected to drive its demand.
Better taste and texture offered by almond milk as opposed to its counterparts
is likely to offer a competitive advantage for the product over the forecast
period. Furthermore, almond milk helps regulate blood pressure and offers
benefits to heart, kidney, and skin, which is likely to increase its popularity
over the coming years.
The most common non-dairy product consumed in the market
is soy milk, which was also the largest product segment in 2017, accounting for
over 63.0% of the total market. Soy milk contains isoflavones, which reduce the
risk of breast cancer and heart diseases, and is likely to gain popularity,
especially among women and elderly consumers.
Going forth, growing
demand for plain unsweetened dairy alternatives for food and beverage
applications is likely to have a positive impact on industry growth over the
projected period.
To request a sample copy or view summary of this report,
click the link below:
https://www.grandviewresearch.com/industry-analysis/dairy-alternatives-market
https://www.grandviewresearch.com/industry-analysis/dairy-alternatives-market
Further
key findings from the report suggest:
· By product, the soy milk segment is
projected to ascend at a CAGR of 15.8% in terms of revenue over the forecast
period
· On the basis of application, beverages
dominated the dairy alternatives with a global revenue share of over 58.0% in
2017
· Plain dairy alternatives are a key segment
in the industry and the segment is projected to expand at a CAGR of over 15.0%
from 2018 to 2025, in terms of volume
· Changing dietary habits of consumers have
led to growing acceptance of vegan diet, which, in turn, is likely to have a
positive impact on market demand over the next few years
· Asia Pacific dominated the industry and
accounted for over 50.0% of the market in 2017. According to the National
Institutes of Health, over 80% of the population in Southeast Asia suffers from
lactose intolerance. As a result, demand for dairy alternative products to
replace cow’s milk is likely to have a positive impact on industry growth
· The dairy alternatives market is highly
diversified as players are expanding their product portfolio and production
capacity to serve the growing demand, particularly in emerging regions
· Some of the key companies in the industry
are Archer Daniels Midland Company; Hain Celestial Group, Inc.; Daiya Foods
Inc.; WhiteWave Foods Company; Nutriops SL; SunOpta Inc.; and Earth’s Own Food
Company.
Grand View Research has segmented the global dairy
alternatives market on the basis of product, formulation, application, and
region:
Dairy Alternatives Product Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Soy Milk
·
Almond Milk
·
Rice Milk
·
Others
Dairy Alternatives Formulation Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Plain
·
Flavored
Dairy Alternatives Application Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Food
·
Beverages
Dairy Alternatives Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
