Dairy Alternatives Market to reach US$ US$ 34.6 Bn by 2029

A recent report by Transparency Market Research states that the global dairy alternatives market shall witness a massive 8% CAGR in the tenure of 2019 to 2029. With this rate the experts at Transparency market predicts that the global dairy alternatives market shall reach to the value of 34.6 bn by the end of 2029. This growth of the market is attributed to the growing health concerns and rising awareness of people for fitness. To get into better shape, people are restricting themselves from consuming traditional dairy products, this is also a major factor that is boosting the growth of global dairy alternatives market from 2019 to 2029.

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Hectic Life Schedule of People to Drive the Growth

Today majority of the people are busy running to meet the daily bread. They are so much engulfed in so called rat-race that they oversee the effects of health eating. This as a result is impacting their health in an adverse manner. To avoid missing nutrition and have proper diet, people are inclining toward non-modified convenient food products. This inclination is stimulating the businesses to develop healthy, long lasting and tasty non-dairy products that can help the consumers meet their daily dose of nutrition and keep them healthy. This growth is one of the major factor that is boosting the growth of global dairy alternatives market from 2019 to 2029.

Probiotics’ Benefits Further Accelerates the Market Growth

As mentioned, busy life schedule and distressed eating habits, people are facing major functional disorders. Majority of them are affected by stomach oriented disorders that are caused by biologic substances. To prevent this, people are consuming huge amount of probiotic drinks. These drinks allow the players to restore the metabolism and improves the immunity of the consumer. This as a result is influencing the growth of global dairy alternatives market from 2019 to 2029.

Food-Borne Allergies Risk Also Plays an Important Role

Consumers are now highly choosy when it comes to eating. They check entire ingredient of the food product and ensure it lacks the component to which they are allergic to. To minimize the risk of food-borne allergies, the people are actively adopting dairy alternative products. This also serves as a major factor that boosts the growth of global dairy alternatives market from 2019 to 2029.

Asia Pacific Emerges as the Most Lucrative Region

Dairy industry is highly prominent in Asia Pacific. People consume dairy products on a regular basis as part of their daily meal. However, with growing concerns health and negative impact a dairy product can cause to the health of the consumers, several people of Asia Pacific region are now inclining toward dairy alternatives products. This makes Asia Pacific as one of the fastest growing region of global dairy alternatives market during the projected tenure.

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Dairy Alternatives Market: Lucrative Opportunities Helps to Flourish Industry Rapidly

The global dairy alternatives market has been witnessing an escalating graph for competition over the past years. The neck and neck competition amongst market players owes to the tremendous scope for growth in the global dairy alternatives market. The propensities of the masses with regards to the usage of dairy products have changed as a large chunk of the global population has started following vegan diets. Hence, there is an expansive consumer base for the manufacturers of alternative dairy products, and each market player is on a quest to capture a substantial market share. Despite the intense competition in the market, some of the market players have succeeded in establishing their supremacy in the market through rational business strategies. Living Harvest Foods Inc., The Hein Celestial Group Inc., and Earth’s Own Food Co. Inc. are some of the market players with strongholds in the global market for dairy alternatives. These vendors have resorted to a range of strategies including manufacture of better tasting products, attractive packaging, and enhancing nutritional value of the products. It is anticipated that these businesses would keep expanding over the forthcoming years at the back of their effective plans and strategies. Blue Diamond Growers, Freedom Foods Group Limited, Archer Daniels Midland Company, and E. I. du Pont de Nemours and Company are amongst other key players in the global dairy alternatives market.

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For a long period of time, people have used dairy products as an indispensable part of their food habits. Furthermore, fresh dairy products were considered to be one of the healthiest forms of food until some time ago. However, over the past decade, people have been made aware of the advantages served by dairy alternatives over dairy products. Hence, the demand within the global dairy alternatives market has soared to new heights in recent times. Almond milk, soy milk, oat milk, rice milk, and hazelnut milk are now readily available across groceries and retail shops which has further escalated demand within the global market for dairy alternatives. Despite the seemingly affluent growth of the market, the high costs of dairy alternatives could hamper demand within the market. 

Transparency Market Research (TMR) published a report that foresees a growth trajectory for the global dairy alternatives market over the period between 2016 and 2024. The report reveals that that the global dairy alternatives market was valued at US$9.32 bn in 2016 and is expected to elevate to a value of US$26.31 bn by the end of 2024. 

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Asia Pacific emerged as the leading regional segment in the global dairy alternatives market 2015. The high adoption rate of healthy food options across the region coupled with the presence of several manufacturers of dairy alternatives is expected to expand the regional market over the coming years. The market players are expected to target the audience in the Asia Pacific region because of the increasing spending capacity and high population of countries such as India and China.

Dairy Alternatives Market: Health Benefits of Dairy Alternatives to Propel Demand

The global dairy alternatives market has been witnessing an escalating graph for competition over the past years. The neck and neck competition amongst market players owes to the tremendous scope for growth in the global dairy alternatives market. The propensities of the masses with regards to the usage of dairy products have changed as a large chunk of the global population has started following vegan diets. Hence, there is an expansive consumer base for the manufacturers of alternative dairy products, and each market player is on a quest to capture a substantial market share. Despite the intense competition in the market, some of the market players have succeeded in establishing their supremacy in the market through rational business strategies. Living Harvest Foods Inc., The Hein Celestial Group Inc., and Earth’s Own Food Co. Inc. are some of the market players with strongholds in the global market for dairy alternatives. These vendors have resorted to a range of strategies including manufacture of better tasting products, attractive packaging, and enhancing nutritional value of the products. It is anticipated that these businesses would keep expanding over the forthcoming years at the back of their effective plans and strategies. Blue Diamond Growers, Freedom Foods Group Limited, Archer Daniels Midland Company, and E. I. du Pont de Nemours and Company are amongst other key players in the global dairy alternatives market.

Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18290

Transparency Market Research (TMR) published a report that foresees a growth trajectory for the global dairy alternatives market over the period between 2016 and 2024. The report reveals that that the global dairy alternatives market was valued at US$9.32 bn in 2016 and is expected to elevate to a value of US$26.31 bn by the end of 2024. 

Health Benefits of Dairy Alternatives to Propel Demand 

For a long period of time, people have used dairy products as an indispensable part of their food habits. Furthermore, fresh dairy products were considered to be one of the healthiest forms of food until some time ago. However, over the past decade, people have been made aware of the advantages served by dairy alternatives over dairy products. Hence, the demand within the global dairy alternatives market has soared to new heights in recent times. Almond milk, soy milk, oat milk, rice milk, and hazelnut milk are now readily available across groceries and retail shops which has further escalated demand within the global market for dairy alternatives. Despite the seemingly affluent growth of the market, the high costs of dairy alternatives could hamper demand within the market. 

Asia Pacific to Retain its Dominance 

Asia Pacific emerged as the leading regional segment in the global dairy alternatives market 2015. The high adoption rate of healthy food options across the region coupled with the presence of several manufacturers of dairy alternatives is expected to expand the regional market over the coming years. The market players are expected to target the audience in the Asia Pacific region because of the increasing spending capacity and high population of countries such as India and China. 

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Dairy Alternatives Market Growing at CAGR of 13.80% during 2016 to 2024

The report covers the analysis and forecast of the dairy alternatives market on a global and regional level. The study provides historic data of 2015 along with the forecast for the period between 2016 and 2024 based on revenue (US$ Mn) and Volume (Kilo Tons). 

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The study provides a detailed view of the dairy alternatives market by segmenting it based on product type, formulation, application and distribution. On the basis of product type, the dairy alternatives market has been further segmented into soy milk, almond milk, rice milk, coconut milk and other type of products. The dairy alternatives market has been segregated on the basis of formulation into plain formulation and flavored formulation. Plain formulation is sub segmented into plain sweetened formulation and plain unsweetened formulation. Flavored formulation is sub-segmented into flavored sweetened formulation and flavored unsweetened formulation. On the basis of application, the dairy alternatives market is segregated into food and beverages. On the basis of distribution, the dairy alternatives market is segmented into large retail, small retail, specialty stores and online distribution channel. 

A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the dairy alternatives market on the global and regional level. Market dynamics are the factors which impactthe market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the dairy alternatives market. 

The report provides the size of the dairy alternatives market in 2015 and the forecast for the next nine years up to 2024. The size of the global dairy alternatives market is provided in terms of both volume and revenue. Market revenue and volume is defined in US$ Mn and Kilo Tons respectively. The market size and forecast for each product and application segment are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types products. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market. 

The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report are Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Blue Diamond Growers, THE WHITEWAVE FOODS COMPANY, Freedom Foods Group Limited, Daiya Foods Inc., SunOpta, Inc., The Hain Celestial Group, Inc., Earth’s Own Food Company, Inc., Eden Foods, Inc., Sanitarium Health and Wellbeing Company among others.

Dairy Alternatives Market: Rising Usage of Dairy Products to Fuel Global Demand

The report covers the analysis and forecast of the dairy alternatives market on a global and regional level. The study provides historic data of 2015 along with the forecast for the period between 2016 and 2024 based on revenue (US$ Mn) and Volume (Kilo Tons). 

Request Sample For More Information @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18290

The study provides a detailed view of the dairy alternatives market by segmenting it based on product type, formulation, application and distribution. On the basis of product type, the dairy alternatives market has been further segmented into soy milk, almond milk, rice milk, coconut milk and other type of products. The dairy alternatives market has been segregated on the basis of formulation into plain formulation and flavored formulation. Plain formulation is sub segmented into plain sweetened formulation and plain unsweetened formulation. Flavored formulation is sub-segmented into flavored sweetened formulation and flavored unsweetened formulation. On the basis of application, the dairy alternatives market is segregated into food and beverages. On the basis of distribution, the dairy alternatives market is segmented into large retail, small retail, specialty stores and online distribution channel. 

A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the dairy alternatives market on the global and regional level. Market dynamics are the factors which impactthe market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the dairy alternatives market.

The report provides the size of the dairy alternatives market in 2015 and the forecast for the next nine years up to 2024. The size of the global dairy alternatives market is provided in terms of both volume and revenue. Market revenue and volume is defined in US$ Mn and Kilo Tons respectively. The market size and forecast for each product and application segment are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types products. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market.

The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report are Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Blue Diamond Growers, THE WHITEWAVE FOODS COMPANY, Freedom Foods Group Limited, Daiya Foods Inc., SunOpta, Inc., The Hain Celestial Group, Inc., Earth’s Own Food Company, Inc., Eden Foods, Inc., Sanitarium Health and Wellbeing Company among others.

Dairy Alternatives Market Rising at a CAGR of 13.80% during 2016 to 2024

The report covers the analysis and forecast of the dairy alternatives market on a global and regional level. The study provides historic data of 2015 along with the forecast for the period between 2016 and 2024 based on revenue (US$ Mn) and Volume (Kilo Tons).

Request Sample For More Information @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18290

The study provides a detailed view of the dairy alternatives market by segmenting it based on product type, formulation, application and distribution. On the basis of product type, the dairy alternatives market has been further segmented into soy milk, almond milk, rice milk, coconut milk and other type of products. The dairy alternatives market has been segregated on the basis of formulation into plain formulation and flavored formulation. Plain formulation is sub segmented into plain sweetened formulation and plain unsweetened formulation. Flavored formulation is sub-segmented into flavored sweetened formulation and flavored unsweetened formulation. On the basis of application, the dairy alternatives market is segregated into food and beverages. On the basis of distribution, the dairy alternatives market is segmented into large retail, small retail, specialty stores and online distribution channel. 

A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the dairy alternatives market on the global and regional level. Market dynamics are the factors which impactthe market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the dairy alternatives market. 

The report provides the size of the dairy alternatives market in 2015 and the forecast for the next nine years up to 2024. The size of the global dairy alternatives market is provided in terms of both volume and revenue. Market revenue and volume is defined in US$ Mn and Kilo Tons respectively. The market size and forecast for each product and application segment are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types products. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market. 

The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report are Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Blue Diamond Growers, THE WHITEWAVE FOODS COMPANY, Freedom Foods Group Limited, Daiya Foods Inc., SunOpta, Inc., The Hain Celestial Group, Inc., Earth’s Own Food Company, Inc., Eden Foods, Inc., Sanitarium Health and Wellbeing Company among others.

Dairy Alternatives Market - Food & Beverages Industries have Emerged Growth

The report covers the analysis and forecast of the dairy alternatives market on a global and regional level. The study provides historic data of 2015 along with the forecast for the period between 2016 and 2024 based on revenue (US$ Mn) and Volume (Kilo Tons).

Request Sample For More Information @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18290

The study provides a detailed view of the dairy alternatives market by segmenting it based on product type, formulation, application and distribution. On the basis of product type, the dairy alternatives market has been further segmented into soy milk, almond milk, rice milk, coconut milk and other type of products. The dairy alternatives market has been segregated on the basis of formulation into plain formulation and flavored formulation. Plain formulation is sub segmented into plain sweetened formulation and plain unsweetened formulation. Flavored formulation is sub-segmented into flavored sweetened formulation and flavored unsweetened formulation. On the basis of application, the dairy alternatives market is segregated into food and beverages. On the basis of distribution, the dairy alternatives market is segmented into large retail, small retail, specialty stores and online distribution channel.

A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the dairy alternatives market on the global and regional level. Market dynamics are the factors which impactthe market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the dairy alternatives market.

The report provides the size of the dairy alternatives market in 2015 and the forecast for the next nine years up to 2024. The size of the global dairy alternatives market is provided in terms of both volume and revenue. Market revenue and volume is defined in US$ Mn and Kilo Tons respectively. The market size and forecast for each product and application segment are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types products. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market.

The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report are Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Blue Diamond Growers, THE WHITEWAVE FOODS COMPANY, Freedom Foods Group Limited, Daiya Foods Inc., SunOpta, Inc., The Hain Celestial Group, Inc., Earth’s Own Food Company, Inc., Eden Foods, Inc., Sanitarium Health and Wellbeing Company among others.

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Dairy Alternatives Market to Reach US$26.31 bn by 2024

The global dairy alternatives market consists of a large number of players, a lot of whom are finding excellent scope of growth through the growing number of people diagnosed as lactose intolerant or allergic to milk. With advancements in medical technology and a growing rate of awareness about lactose and the human body among consumers of milk, the market for dairy alternatives is finding a much greater scope of sales than before. The global dairy alternatives market is also being augmented by other factors such as the growing variety of dairy alternatives across the world, and the overall healthier nature of several types of dairy alternatives. However, the global dairy alternatives market is currently being stifled by factors such as the higher price of dairy alternatives as compared to dairy products, and the confusion and lack of clarity surrounding a lot of the currently available dairy alternative products.

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Overall, the global dairy alternatives market had reached US$8.22 bn in 2015, and is expected to reach US$26.31 bn by the end of 2024, expanding at a CAGR of 13.8% within a CAGR from 2016 to 2024.

A geographical segmentation of the global dairy alternatives market reveals Asia Pacific as the leader, above other the key regions of North America, Europe, The Middle East and Africa, and Latin America, for 2015. At the time, Asia Pacific had held a share of close to 53% of the global market’s value, and is highly likely to continue leading the regional demand for dairy alternatives over the coming years. Players are finding Asia Pacific to be highly attractive, primarily due to the extensively established nature of the dairy industry coupled with the surging numbers of people who are either lactose intolerant or who want to switch to a completely plant-based diet.

At the same time, Latin America is emerging as a highly promising region for players from the global dairy alternatives market for nearly similar reasons. While all regions are experiencing a spike in demand for dairy alternatives in beverages, North America and Europe especially are experiencing a very high rate of increase in demand for almond milk.

The global dairy alternatives market is segmented on the basis of applications, into food and beverages. Beverages held the leading share in the global dairy alternatives market for 2015 in terms of both value as well as volume. Dairy alternative foods are expected to witness a significant growth in demand over the coming years, due to heavy rate of application of dairy alternatives in different high-demand food products, such as spreads, cheeses, and desserts.

By distribution, the global dairy alternatives market is divided into large retail, small retail, specialty stores, and online or ecommerce. Large retail chains accounted the leading share in the global dairy alternatives market for 2015. Meanwhile, online sales are expected to surge over the forecast period. The online sale of dairy alternatives is expected to be the exceptionally fast, owing to the ease with which manufacturers or distributors can provide a wider variety of products in different flavors, tastes and formulations as well as the consumer loyalty schemes and discounts.

For 2015, the leaders in the global dairy alternatives market included Archer Daniels Midland Company, Blue Diamond Growers, E. I. du Pont de Nemours and Company, Freedom Foods Group Limited, The Whitewave Foods Company, SunOpta, Inc., Daiya Foods Inc., Earth’s Own Food Company, Inc., The Hain Celestial Group, Inc., Sanitarium Health, Eden Foods, Inc., and Wellbeing Company.

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Dairy Alternatives Market to Reach US$26.31 bn by 2024

The global market for dairy alternatives has been witnessing an escalating graph for competition over the past years. The neck and neck competition amongst market players owes to the tremendous scope for growth in the global market for dairy alternatives. The propensities of the masses with regards to the usage of dairy products have changed as a large chunk of the global population has started following vegan diets. Hence, there is an expansive consumer base for the manufacturers of alternative dairy products, and each market player is on a quest to capture a substantial market share. Despite the intense competition in the market, some of the market players have succeeded in establishing their supremacy in the market through rational business strategies. Living Harvest Foods Inc., The Hein Celestial Group Inc., and Earth’s Own Food Co. Inc. are some of the market players with strongholds in the global market for dairy alternatives. These vendors have resorted to a range of strategies including manufacture of better tasting products, attractive packaging, and enhancing nutritional value of the products. It is anticipated that these businesses would keep expanding over the forthcoming years at the back of their effective plans and strategies. Blue Diamond Growers, Freedom Foods Group Limited, Archer Daniels Midland Company, and E. I. du Pont de Nemours and Company are amongst other key players in the global market for dairy alternative market.

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Transparency Market Research (TMR) published a report that foresees a growth trajectory for the global alternative dairy products market over the period between 2016 and 2024. The report reveals that that the global market was valued at US$9.32 bn in 2016 and is expected to elevate to a value of US$26.31 bn by the end of 2024.

For a long period of time, people have used dairy products as an indispensable part of their food habits. Furthermore, fresh dairy products were considered to be one of the healthiest forms of food until some time ago. However, over the past decade, people have been made aware of the advantages served by dairy alternatives over dairy products. Hence, the demand within the global market for dairy alternatives has soared to new heights in recent times. Almond milk, soy milk, oat milk, rice milk, and hazelnut milk are now readily available across groceries and retail shops which has further escalated demand within the global market for dairy alternatives. Despite the seemingly affluent growth of the market, the high costs of dairy alternatives could hamper demand within the market.

Asia Pacific emerged as the leading regional segment in the global market for dairy alternatives 2015. The high adoption rate of healthy food options across the region coupled with the presence of several manufacturers of dairy alternatives is expected to expand the regional market over the coming years. The market players are expected to target the audience in the Asia Pacific region because of the increasing spending capacity and high population of countries such as India and China.

Get more Information: https://www.prnewswire.com/news-releases/dairy-alternatives-market---global-industry-insights-by-2024-tmr-620226943.html

Dairy Alternatives Market: Health Benefits of Dairy Alternatives to Propel Demand

The global market for dairy alternatives has been witnessing an escalating graph for competition over the past years. The neck and neck competition amongst market players owes to the tremendous scope for growth in the global market for dairy alternatives. The propensities of the masses with regards to the usage of dairy products have changed as a large chunk of the global population has started following vegan diets. Hence, there is an expansive consumer base for the manufacturers of alternative dairy products, and each market player is on a quest to capture a substantial market share. Despite the intense competition in the market, some of the market players have succeeded in establishing their supremacy in the market through rational business strategies. Living Harvest Foods Inc., The Hein Celestial Group Inc., and Earth’s Own Food Co. Inc. are some of the market players with strongholds in the global market for dairy alternatives. These vendors have resorted to a range of strategies including manufacture of better tasting products, attractive packaging, and enhancing nutritional value of the products. It is anticipated that these businesses would keep expanding over the forthcoming years at the back of their effective plans and strategies. Blue Diamond Growers, Freedom Foods Group Limited, Archer Daniels Midland Company, and E. I. du Pont de Nemours and Company are amongst other key players in the global market for dairy alternative market.

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Transparency Market Research (TMR) published a report that foresees a growth trajectory for the global alternative dairy products market over the period between 2016 and 2024. The report reveals that that the global market was valued at US$9.32 bn in 2016 and is expected to elevate to a value of US$26.31 bn by the end of 2024.

For a long period of time, people have used dairy products as an indispensable part of their food habits. Furthermore, fresh dairy products were considered to be one of the healthiest forms of food until some time ago. However, over the past decade, people have been made aware of the advantages served by dairy alternatives over dairy products. Hence, the demand within the global market for dairy alternatives has soared to new heights in recent times. Almond milk, soy milk, oat milk, rice milk, and hazelnut milk are now readily available across groceries and retail shops which has further escalated demand within the global market for dairy alternatives. Despite the seemingly affluent growth of the market, the high costs of dairy alternatives could hamper demand within the market.

Asia Pacific emerged as the leading regional segment in the global market for dairy alternatives 2015. The high adoption rate of healthy food options across the region coupled with the presence of several manufacturers of dairy alternatives is expected to expand the regional market over the coming years. The market players are expected to target the audience in the Asia Pacific region because of the increasing spending capacity and high population of countries such as India and China.

Get more Information: https://www.prnewswire.com/news-releases/dairy-alternatives-market---global-industry-insights-by-2024-tmr-620226943.html

Dairy Alternatives Market to Reach a Stellar Value of US$26.31 bn by 2024-end as People Resort to Heathier Food Options

The global market for dairy alternatives has been witnessing an escalating graph for competition over the past years. The neck and neck competition amongst market players owes to the tremendous scope for growth in the global market for dairy alternatives. The propensities of the masses with regards to the usage of dairy products have changed as a large chunk of the global population has started following vegan diets. Hence, there is an expansive consumer base for the manufacturers of alternative dairy products, and each market player is on a quest to capture a substantial market share. Despite the intense competition in the market, some of the market players have succeeded in establishing their supremacy in the market through rational business strategies. Living Harvest Foods Inc., The Hein Celestial Group Inc., and Earth’s Own Food Co. Inc. are some of the market players with strongholds in the global market for dairy alternatives. These vendors have resorted to a range of strategies including manufacture of better tasting products, attractive packaging, and enhancing nutritional value of the products. It is anticipated that these businesses would keep expanding over the forthcoming years at the back of their effective plans and strategies. Blue Diamond Growers, Freedom Foods Group Limited, Archer Daniels Midland Company, and E. I. du Pont de Nemours and Company are amongst other key players in the global market for dairy alternative market.

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Transparency Market Research (TMR) published a report that foresees a growth trajectory for the global alternative dairy products market over the period between 2016 and 2024. The report reveals that that the global market was valued at US$9.32 bn in 2016 and is expected to elevate to a value of US$26.31 bn by the end of 2024.

Health Benefits of Dairy Alternatives to Propel Demand

For a long period of time, people have used dairy products as an indispensable part of their food habits. Furthermore, fresh dairy products were considered to be one of the healthiest forms of food until some time ago. However, over the past decade, people have been made aware of the advantages served by dairy alternatives over dairy products. Hence, the demand within the global market for dairy alternatives has soared to new heights in recent times. Almond milk, soy milk, oat milk, rice milk, and hazelnut milk are now readily available across groceries and retail shops which has further escalated demand within the global market for dairy alternatives. Despite the seemingly affluent growth of the market, the high costs of dairy alternatives could hamper demand within the market.

Asia Pacific to Retain its Dominance

Asia Pacific emerged as the leading regional segment in the global market for dairy alternatives 2015. The high adoption rate of healthy food options across the region coupled with the presence of several manufacturers of dairy alternatives is expected to expand the regional market over the coming years. The market players are expected to target the audience in the Asia Pacific region because of the increasing spending capacity and high population of countries such as India and China.

Dairy Alternatives Market Rising at a CAGR of 13.80% during 2016 to 2024

Thanks to the wide ranging product offerings by The Hein Celestial Group Inc., Earth’s Own Food Co. Inc., and Living Harvest Foods Inc., the global dairy alternatives market has opened to a positive reception from consumers, finds a new study by Transparency Market Research (TMR). With several impactful strategies, such as advancements in products in terms of taste and nutrition and introduction of innovative products in the market, these players have gained the kind of opportunities they need for expansion of their businesses.

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As per the TMR’s estimation, the worldwide dairy alternatives market stood at US$9.32 bn in 2016. Rising at a CAGR of 13.80% during the period from 2016 to 2024, the market is anticipated to attain a value of US$26.31 by the end of the forecast period. Offline retail distribution channels, including small retail, large retail, and specialty stores, are proving to be more productive than their online counterparts, reports the market study.

Beverages to Continue with High Demand of Dairy Alternatives

Dairy alternatives find extensive application in food products and beverages. Among the two, the demand for these alternatives has been much higher in the beverages segment. Although the trend is expected to continue, the application rate of these alternatives in various food products, such as cheese, spreads, and desserts, is also escalating across the world.

Among the geographies, Asia Pacific has emerged as the leading contributor to the global market for dairy alternatives. In 2015, it had acquired a share of nearly 53% in the overall market. This regional market is anticipated to remain attractive to players in the years to come, notes the research study.

Increasing Awareness Pertaining to Health Benefits of Dairy Alternatives to Boost Growth

“The increasing awareness among consumers regarding the health benefits that dairy alternative provide in comparison with conventional dairy products is the main factor behind the growth of the global dairy alternatives market,” says a TMR analyst. The rising number of lactose intolerant consumers is another important factor that is influencing this market’s progress.

Going forward, the easy availably of soy milk, almond milk, rice milk, hemp milk, oat milk, and hazelnut milk is likely to support the worldwide market for dairy alternatives over the forthcoming years. However, the high cost associate with these products may deter consumers from adopting them in the near future, reposts the research study.

Dairy Alternatives Market - Beverages to Continue with High Demand of Dairy Alternatives

Global Dairy Alternatives Market: Snapshot

The global dairy alternatives market consists of a large number of players, a lot of whom are finding excellent scope of growth through the growing number of people diagnosed as lactose intolerant or allergic to milk. With advancements in medical technology and a growing rate of awareness about lactose and the human body among consumers of milk, the market for dairy alternatives is finding a much greater scope of sales than before. The global dairy alternatives market is also being augmented by other factors such as the growing variety of dairy alternatives across the world, and the overall healthier nature of several types of dairy alternatives. However, the global dairy alternatives market is currently being stifled by factors such as the higher price of dairy alternatives as compared to dairy products, and the confusion and lack of clarity surrounding a lot of the currently available dairy alternative products.

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Overall, the global dairy alternatives market had reached US$8.22 bn in 2015, and is expected to reach US$26.31 bn by the end of 2024, expanding at a CAGR of 13.8% within a CAGR from 2016 to 2024.

Asia Pacific Continues High Consumption Rate of Dairy Alternatives

A geographical segmentation of the global dairy alternatives market reveals Asia Pacific as the leader, above other the key regions of North America, Europe, The Middle East and Africa, and Latin America, for 2015. At the time, Asia Pacific had held a share of close to 53% of the global market’s value, and is highly likely to continue leading the regional demand for dairy alternatives over the coming years. Players are finding Asia Pacific to be highly attractive, primarily due to the extensively established nature of the dairy industry coupled with the surging numbers of people who are either lactose intolerant or who want to switch to a completely plant-based diet.

At the same time, Latin America is emerging as a highly promising region for players from the global dairy alternatives market for nearly similar reasons. While all regions are experiencing a spike in demand for dairy alternatives in beverages, North America and Europe especially are experiencing a very high rate of increase in demand for almond milk.

Dairy Alternative Beverages Enter Core Demand Segments in Multiple Regions

The global dairy alternatives market is segmented on the basis of applications, into food and beverages. Beverages held the leading share in the global dairy alternatives market for 2015 in terms of both value as well as volume. Dairy alternative foods are expected to witness a significant growth in demand over the coming years, due to heavy rate of application of dairy alternatives in different high-demand food products, such as spreads, cheeses, and desserts.

By distribution, the global dairy alternatives market is divided into large retail, small retail, specialty stores, and online or ecommerce. Large retail chains accounted the leading share in the global dairy alternatives market for 2015. Meanwhile, online sales are expected to surge over the forecast period. The online sale of dairy alternatives is expected to be the exceptionally fast, owing to the ease with which manufacturers or distributors can provide a wider variety of products in different flavors, tastes and formulations as well as the consumer loyalty schemes and discounts.

For 2015, the leaders in the global dairy alternatives market included Archer Daniels Midland Company, Blue Diamond Growers, E. I. du Pont de Nemours and Company, Freedom Foods Group Limited, The Whitewave Foods Company, SunOpta, Inc., Daiya Foods Inc., Earth’s Own Food Company, Inc., The Hain Celestial Group, Inc., Sanitarium Health, Eden Foods, Inc., and Wellbeing Company.

Dairy Alternatives Market Evolving Industry Trends and key Insights by 2024

Thanks to the wide ranging product offerings by The Hein Celestial Group Inc., Earth’s Own Food Co. Inc., and Living Harvest Foods Inc., the global dairy alternatives market has opened to a positive reception from consumers, finds a new study by Transparency Market Research (TMR). With several impactful strategies, such as advancements in products in terms of taste and nutrition and introduction of innovative products in the market, these players have gained the kind of opportunities they need for expansion of their businesses.

As per the TMR’s estimation, the worldwide dairy alternatives market stood at US$9.32 bn in 2016. Rising at a CAGR of 13.80% during the period from 2016 to 2024, the market is anticipated to attain a value of US$26.31 by the end of the forecast period. Offline retail distribution channels, including small retail, large retail, and specialty stores, are proving to be more productive than their online counterparts, reports the market study.

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Beverages to Continue with High Demand of Dairy Alternatives

Dairy alternatives find extensive application in food products and beverages. Among the two, the demand for these alternatives has been much higher in the beverages segment. Although the trend is expected to continue, the application rate of these alternatives in various food products, such as cheese, spreads, and desserts, is also escalating across the world.

Among the geographies, Asia Pacific has emerged as the leading contributor to the global market for dairy alternatives. In 2015, it had acquired a share of nearly 53% in the overall market. This regional market is anticipated to remain attractive to players in the years to come, notes the research study.

Increasing Awareness Pertaining to Health Benefits of Dairy Alternatives to Boost Growth

“The increasing awareness among consumers regarding the health benefits that dairy alternative provide in comparison with conventional dairy products is the main factor behind the growth of the global dairy alternatives market,” says a TMR analyst. The rising number of lactose intolerant consumers is another important factor that is influencing this market’s progress.

Going forward, the easy availably of soy milk, almond milk, rice milk, hemp milk, oat milk, and hazelnut milk is likely to support the worldwide market for dairy alternatives over the forthcoming years. However, the high cost associate with these products may deter consumers from adopting them in the near future, reposts the research study.

North America Region Set to Dominate the Global Dairy Alternatives Market and Register a CAGR of 8.5% During the Assessment Period

The market for dairy alternatives is expanding with considerable growth all over the world due to a variety of reasons. The main reason for this are an increased awareness amongst the consumers and a changing lifestyle and heightened awareness about health issues, mainly regarding weight and diabetes. The major factor contributing to the growth of the dairy alternatives market is the increase in the incidences of lactose intolerance and milk allergy along with increased cases of gastrointestinal diseases in the population. Due to such health factors, consumers are avoiding cow-based milk and are consuming dairy alternatives like plant based milk, which is increasing the market growth of dairy alternatives. In addition to this, augmented disposable incomes and a population explosion, especially in developing countries, present wide ranging opportunities for the dairy alternatives market. Moreover, some of the consumers choose plant based milk for its taste and some consume it because they are vegan. However, one of the main restraint hampering the growth of the dairy alternatives market is that it is costlier than cow milk, and this is a huge factor for consumers in developing countries, that are price sensitive.

The global Dairy alternatives market is slated to touch a value of nearly US$ 9,570 Mn in the year 2022 and grow at a robust CAGR during the assessment period.

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4 Forecast Highlights on Global Dairy Alternatives Market

• As per the forecast of Future Market Insights, the plain unsweetened product type segment is slated to touch a value of nearly US$ 1,930 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The plain unsweetened product type segment is estimated to account for more than one-fifth of the revenue share of the product type segment by the year 2017 end and is expected to lose market share by the year 2022 end.
• As per the forecast of Future Market Insights, the creamers segment will reach a value of nearly US$ 1,290 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The creamers segment is estimated to account for nearly one-fifth of the revenue share of the application segment in the year 2017 end and is expected to gain market share by the end of the year 2022.
• As per the forecast of Future Market Insights, the protein segment is slated to reach a value of nearly US$ 4,400 Mn in 2022. The protein segment is expected to gain some market value by the end of the year 2022. The largest share is contributed by the North America region in the protein segment.
• Future Market Insights forecasts the US dairy alternatives market to grow from nearly US$ 2,100 Mn in 2017 to nearly US$ 3,180 Mn in 2022. This represents a compound annual growth rate (CAGR) of 8.7% from 2017 to 2022.

The report has also profiled leading players in the global market for Dairy alternatives, which will remain active through 2022. These include companies such as Blue Diamond Growers, Inc., Eden Foods Inc., SunOpta, Inc., Califia Farms LLC, The Hain Celestial Group, Inc., Koninklijke Wessanen N.V., OATLY A.B., Danone, Organic Valley Cropp Cooperative and Earth’s Own Food Company Inc.

Worldwide Dairy Alternatives Market Rising at a CAGR of 13.80% during 2016 to 2024

Global Dairy Alternatives Market: Snapshot

The global dairy alternatives market consists of a large number of players, a lot of whom are finding excellent scope of growth through the growing number of people diagnosed as lactose intolerant or allergic to milk. With advancements in medical technology and a growing rate of awareness about lactose and the human body among consumers of milk, the market for dairy alternatives is finding a much greater scope of sales than before. The global dairy alternatives market is also being augmented by other factors such as the growing variety of dairy alternatives across the world, and the overall healthier nature of several types of dairy alternatives. However, the global dairy alternatives market is currently being stifled by factors such as the higher price of dairy alternatives as compared to dairy products, and the confusion and lack of clarity surrounding a lot of the currently available dairy alternative products.

Overall, the global dairy alternatives market had reached US$8.22 bn in 2015, and is expected to reach US$26.31 bn by the end of 2024, expanding at a CAGR of 13.8% within a CAGR from 2016 to 2024.

Asia Pacific Continues High Consumption Rate of Dairy Alternatives

A geographical segmentation of the global dairy alternatives market reveals Asia Pacific as the leader, above other the key regions of North America, Europe, The Middle East and Africa, and Latin America, for 2015. At the time, Asia Pacific had held a share of close to 53% of the global market’s value, and is highly likely to continue leading the regional demand for dairy alternatives over the coming years. Players are finding Asia Pacific to be highly attractive, primarily due to the extensively established nature of the dairy industry coupled with the surging numbers of people who are either lactose intolerant or who want to switch to a completely plant-based diet.

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At the same time, Latin America is emerging as a highly promising region for players from the global dairy alternatives market for nearly similar reasons. While all regions are experiencing a spike in demand for dairy alternatives in beverages, North America and Europe especially are experiencing a very high rate of increase in demand for almond milk.

Dairy Alternative Beverages Enter Core Demand Segments in Multiple Regions

The global dairy alternatives market is segmented on the basis of applications, into food and beverages. Beverages held the leading share in the global dairy alternatives market for 2015 in terms of both value as well as volume. Dairy alternative foods are expected to witness a significant growth in demand over the coming years, due to heavy rate of application of dairy alternatives in different high-demand food products, such as spreads, cheeses, and desserts.

By distribution, the global dairy alternatives market is divided into large retail, small retail, specialty stores, and online or ecommerce. Large retail chains accounted the leading share in the global dairy alternatives market for 2015. Meanwhile, online sales are expected to surge over the forecast period. The online sale of dairy alternatives is expected to be the exceptionally fast, owing to the ease with which manufacturers or distributors can provide a wider variety of products in different flavors, tastes and formulations as well as the consumer loyalty schemes and discounts.

For 2015, the leaders in the global dairy alternatives market included Archer Daniels Midland Company, Blue Diamond Growers, E. I. du Pont de Nemours and Company, Freedom Foods Group Limited, The Whitewave Foods Company, SunOpta, Inc., Daiya Foods Inc., Earth’s Own Food Company, Inc., The Hain Celestial Group, Inc., Sanitarium Health, Eden Foods, Inc., and Wellbeing Company.