Dairy Alternative Market

Global Dairy Alternative Market: Snapshot

Rise in the prevalence of lactose intolerance and milk allergies cases is estimated to drive the sales growth in the global dairy alternative market during the forecast period, 2021-2031. Yogurt, milk, ice-cream, creamers, and cheese are some of the key products available in the dairy alternative market.

An upcoming review by Transparency Market Research (TMR) aims at offering thorough study of major factors influencing the growth trajectory of the global dairy alternative market. Thus, the dairy alternative market survey delivers complete analysis of the growth drivers, restraints, and historical and ongoing trends in the market. Furthermore, it sheds light on the latest R&Ds, challenges, and recent developments in the dairy alternative market. In addition, the research report on the dairy alternative industry delivers important statistics pertaining to the share, volume, production, revenues, and sales of dairy alternative.

In the TMR report, all the data and assessment of the global dairy alternative market is presented in the form of diverse segments, which are determined on the basis of several parameters such as product, source, distribution channel, and region. The key purpose of the segmentation is offering the market assessment in easy-to-understand manner.

Key Drivers of Dairy Alternative Market Growth

The popularity of different products manufactured using dairy alternatives is being rising in the recent years owing to their ability to offer several health benefits including high level of vitamin and calcium content in them. Surge in the understanding pertaining to these health benefits among people is projected to create notable business opportunities in the global dairy alternative market during the forecast period.

Almond milk, oat milk, hemp milk, hazelnut milk, and soya milk are some of dairy alternatives available in the market today. According to the study by TMR, there has been a surge in the demand for soya milk from across the globe. Hence, the soya milk segment of the market is expected to generate profitable prospects in the near future. Moreover, the market is being driven by a surge in the number of people living with lactose intolerance and dairy allergies, state analysts at TMR.

The trend of adopting vegan lifestyle and vegan diet is being rising in the recent years as a result of various campaigns pertaining to the environment protection and animal rights. This factor is leading to revenue-generation avenues in the global dairy alternative market. This aside, the market is being fueled by improved spending power of major consumer pool from the developed and developing nations globally.

Competition Landscape of Dairy Alternative Market

The nature of the dairy alternative market seems to be fairly fragmented. The presence of many players makes the competition levels in the market for dairy alternative highly intense. Hence, companies are executing different strategies such as new product launches, mergers, acquisitions, joint ventures, collaborations, and partnerships in order to maintain their prominent market positions.

The list of key players in the global dairy alternative market includes:

• Earth’s Own Food Company Inc.
• Eden Foods Inc.
• Organic Valley Family of Farms
• The Whitewave Foods Company
• Living Harvest Foods Inc.
• Panos Brands LLC
• The Bridge S.R.L.
• Grupo Le Pascual Sa
• Blue Diamond Growers Inc.
• The Hein Celestial Group Inc.
• OATLY A.B.
• Sunopta Inc.

Regional Outlook of Dairy Alternative Market

The dairy alternative market is spread across many regions such as Asia Pacific, North America, Europe, and Rest of the World. Players are expected to gain substantial business opportunities in Asia Pacific during the forecast period. The growth of the Asia Pacific market is ascribed to surge in the understanding on advantages of dairy alternatives and increase in the adoption of healthy food products in the region.