A
new report from Transparency Market Research, titled ‘Dairy
Alternative Market - Global Industry Analysis, Size, Share,
Growth, Trends, Forecast 2015 - 2023,’ states that the global dairy
alternative market is expected to develop swiftly during the period
from 2015 to 2023 due to the increasing health awareness among the
global populace.
Dairy
alternative beverages are referred to as plant-based milk and are
processed through nuts, seeds, and cereals. Dairy alternative
beverages are low on fat and cholesterol. These beverages can be
consumed by lactose intolerant people, vegans, and people with milk
allergies. The global dairy alternative market is spread across the
globe through various distribution channels such as pharmacies and
health food stores, supermarkets, convenience stores, and online
stores.
Availability
of many of these distribution channels across the globe is one of the
major factors expected to drive the global dairy alternative market
in the years to come. The number of health-conscious people around
the world has increased in the recent past. People who are
health-conscious prefer dairy alternative beverages as their primary
choice of beverages primarily owing to their lower fat content.
Growing preference in the consumer base for vegan lifestyles and diet
due to factors such as growing awareness about animal rights and
environment protection are predicted to drive the global dairy
alternative market in the years to come.
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Increasing
disposable incomes are another important factor expected to propel
the global dairy alternative market in the next few years.
Cross-contamination of raw materials is the major factor expected to
restrict the growth of the global dairy alternative market in the
next few years. Cross-contamination is a procedure by which bacteria
or microorganisms are transferred from one particular substance to
another. Another factor expected to restrict the demand for dairy
alternatives is their rising prices. Alternative beverages available
in the market are priced high, making them a difficult buy for many
consumers.
The
global dairy alternative market is segmented on the basis of
geography and product type. By geography, the global dairy
alternative market is divided into Asia Pacific, Europe, North
America, and Rest of the World. Currently, Asia Pacific leads the
global market for dairy alternative beverages, followed by North
America. The rising health awareness among people and the growing
disposable income of the customers are expected to improve the demand
for various dairy alternatives.
Based
on product type, the global dairy alternative market is classified
into oat milk, almond milk, rice milk, hazelnut milk, and soya milk.
Amongst all, the soya milk segment is the biggest contributor to the
global dairy alternative market. However, the demand for almond milk
is predicted to grow rapidly during the forecast period due to its
health benefits and high content of vitamins and calcium.
Earth’s
Own Food Company Inc., Organic Valley Family of Farms, Living Harvest
Foods Inc., The Hein Celestial Group Inc., Sunopta Inc., OATLY A.B.,
Eden Foods Inc., Grupo Le Pascual Sa, Panos Brands LLC, The Whitewave
Foods Company, The Bridge S.R.L., and Blue Diamond Growers Inc. are
some of the leading companies in the global dairy alternative market.
The entry of new companies is expected to prove beneficial for the
growth of the global dairy alternative market in the next few years.
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