Dairy Alternatives Market was valued at USD 20,181 Million in 2019 and anticipated to grow at CAGR of 10.7% CAGR during the forecast period

Introduction of the Global Dairy Alternatives Market Report

Dairy alternatives products are made from different sources, including soy milk, almond milk, coconut milk, rice milk, oats milk, and hemp milk. These alternatives are rich in calcium, protein, and other essential nutrients. The dairy alternative not only promotes better health but also reduces the chances of diseases in human body. These alternatives are widely used in ice creams, yogurt, cheeses, and creamers and come in various delicious flavors. The global market for dairy alternatives has been segmented on the basis of source (almond, soy, oats, hemp, coconut, rice and others), application (cheese, creamers, yogurt, ice creams, milk and others), distribution channel (supermarkets, health food stores, pharmacies, convenience stores, online and others), formulation (plain and flavored), nutrient (protein, starch, vitamin and others) and by geographical region.

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The rising concern regarding lactose intolerance among individuals, followed by a significant shift in the consumer’s preference towards healthy food products, are the primary factors contributing to the growth of the global dairy alternatives market. The growing consumer awareness about the remarkable nutritional values offered by plant-based dairy alternatives, such as reduces the cholesterol level, promotes cardiovascular health, and controls diabetes, will encourage them to opt for dairy alternative food products to stay healthy and fit. In addition to this, the increasing trend of veganism and the rising per capita income will have a positive impact on the market in the coming years. Various multinational giants are mainly focusing on product innovation, such as the introduction of different flavors of almond milk and soy milk, which will attract a large number of consumers who are looking for tastier healthy drink options. On the other hand, the fluctuating prices of raw material and the challenge of developing dairy substitute products with low cholesterol and fat level are some of the factors which will have a negative influence on the growing demand of the market.

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Based on the Application, the market is segmented into milk, ice cream, yogurt, cheese, creamers, and others. The Milk segment is projected to grow at a higher CAGR over the forecast period due to the drastic shift in the consumer’s preference towards vegan diet patterns driven by the growing concern about the environment and animal rights across the globe. The leading market players are expanding their product portfolios by adding new products containing almond milk, coconut milk, and soymilk. This expansion will enable manufacturers to attract new consumers into the market. Moreover, the rising health concerns, including lactose intolerance, coupled with the growing hectic lifestyle of the working population is promoting them to opt for convenient beverage option to save their time.

Based on the Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Health Food Stores, Pharmacies, Convenience Stores, Online and Others. The Supermarkets/Hypermarkets segment is anticipated to lead the market over the forecast period owing to the drastic increase in the number of supermarkets/hypermarkets at the global level driven by the rising population rate and rapid modernization. The supermarkets/hypermarkets offer a wide variety of products under one roof along with attractive discount offers on bulk orders. On the other hand, the online stores segment is expected to grow at a higher CAGR over the forecast period due to the growing penetration of smartphones and the internet among the customers around the world. The online stores are highly cost-effective, provides faster access to all products, and other exceptional advantages to its consumers, such as free home delivery option, multiple payment options, paybacks, and other discount offers.

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Based on the region, the Asia-Pacific region is projected to grow at a higher CAGR during the forecast period. The rising purchasing power, drastic growth in the population, and the growing consumer awareness regarding healthy diet patterns are the key driver which will promote the adoption of dairy alternative across the Asian countries. Apart from this, the rapid urbanization and the easy availability of a wide range of flavors will further attract new customers in the market. The Soy, Rice, and Almond milk are majorly consumed as a traditional beverage across many nations, such as India. The strong demand for lactose-free milk for children and pregnant women will further complement the market growth in this region.

Various notable players operating in the market include The Whitewave Foods Company, Hain Celestial, Blue Diamond Growers, SunOpta, Sanitarium, Freedom Foods Group Limited, Eden Foods, Nutriops S.L., Earth’s Own Food Company, and Valsoia S.p.A. among others.

Key Developments:

• • In 2019, Blue Diamond Growers launched its new Almond Breeze Almondmilk Yogurt Alternative. The product is available on with six crunchy topping options, including toasted almonds, honey roasted almonds and granola, chocolate chips, and many more.

The global Dairy Alternatives market has been segmented on the basis of Source, Application, Distribution Channel, Formulation, Nutrient and Region. Based on source, the market is segmented into Almond, Soy, Oats, Hemp, Coconut, Rice and Others. Based on application, the market is segmented into Cheese, Creamers, Yogurt, Ice Creams, Milk and Others. Based on Distribution Channel, the market is segmented into Supermarkets, Health Food stores, Pharmacies, Convenience Stores, Online and Others. Based on Formulation, the market is segmented into Plain and Flavored. Based on Nutrient, the market is segmented into Protein, Starch, Vitamin and Others.

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Key questions answered in this research report:

• • At what pace is global Dairy Alternatives market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Dairy Alternatives market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Dairy Alternatives market?
  • Which source generated maximum revenues in 2019 and identify the most promising source during the forecast period?
  • What are the various application areas of global Dairy Alternatives market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 20,181 Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Source, By Application, By Distribution Channel, By Formulation, By Nutrient, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	The Whitewave Foods Company, Hain Celestial, Blue Diamond Growers, SunOpta, Sanitarium, Freedom Foods Group Limited, Eden Foods, Nutriops S.L., Earth’s Own Food Company, and Valsoia S.p.A.; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Global Dairy Alternatives Market by Source

• • Almond
  • Soy
  • Oats
  • Hemp
  • Coconut
  • Rice
  • Others

Global Dairy Alternatives Market by Application

• • Cheese
  • Creamers
  • Yogurt
  • Ice Creams
  • Milk
  • Others

Global Dairy Alternatives Market by Distribution Channel

• • Supermarkets
  • Health Food Stores
  • Pharmacies
  • Convenience Stores
  • Online
  • Others

Global Dairy Alternatives Market by Formulation

• • Plain
  • Flavored

Global Dairy Alternatives Market by Nutrient

• • Protein
  • Starch
  • Vitamin
  • Others

Global Dairy Alternatives Market by Region

• • North America Dairy Alternatives Market
    (Option 1: As a part of the free 25% customization)
    • North America Market by Source
    • North America Market by Application
    • North America Market by Distribution Channel
    • North America Market by Formulation
    • North America Market by Nutrient
    • United States of America (US) Market All-Up
    • Canada Market All-Up
  • Europe Dairy Alternatives Market
    (Option 2: As a part of the free 25% customization)
    • Europe Market by Source
    • Europe Market by Application
    • Europe Market by Distribution Channel
    • Europe Market by Formulation
    • Europe Market by Nutrient
    • United Kingdom (UK) Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Dairy Alternatives Market
    (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Source
    • Asia-Pacific Market by Application
    • Asia-Pacific Market by Distribution Channel
    • Asia-Pacific Market by Formulation
    • Asia-Pacific Market by Nutrient
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Dairy Alternatives Market
    (Option 4: As a part of the free 25% customization)
    • RoW Market by Source
    • RoW Market by Application
    • RoW Market by Distribution Channel
    • RoW Market by Formulation
    • RoW Market by Nutrient
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Dairy Alternatives Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • The Whitewave Foods Company
  • Hain Celestial
  • Blue Diamond Growers
  • SunOpta
  • Sanitarium
  • Freedom Foods Group Limited
  • Eden Foods
  • Nutriops S.L.
  • Earth’s Own Food Company
  • Valsoia S.p.A.