Global Dairy Alternative Market: Overview
Dairy alternative beverages are referred to the plant based milk, which is processed from cereals, seeds, or nuts. Because of the low cholesterol concentration and fat content in dairy alternative beverages, their demand is increasing at a rapid pace around the world. The global dairy alternative market is also gaining from the rising health awareness among consumers.
The report provides a comprehensive overview of the global dairy alternative market covering its historical performance, development opportunities, vendor landscape, and segmentation based on various parameters. For the purpose of the study, the global dairy alternative market is classified into oat milk, almond milk, soya milk, hemp milk, and hazelnut milk. Of these, the demand for soya milk is expected to be the highest and the segment is likely to rake considerably high revenue for the global dairy alternatives market. Dairy alternatives also offer health benefits such as high calcium and vitamin content, rising information regarding which will help in market’s growth in the coming years.
Global Dairy Alternative Market: Trends and Opportunities
As people around the world become more aware about their health, the demand for milk or diary alternatives is expected to increase at a fast pace. This will provide significant impetus to the global dairy alternative market around the world. Shifting focus of consumers towards vegan diet and vegan lifestyle due to factors such an animal rights campaigns and environment protection will also help the market rake high profits through the forecast period. In addition, the rising disposable income of consumers will help the market gain increased momentum in the forthcoming years.
On the flip side, cross contamination of raw materials could hinder the market’s trajectory in the near future. In addition, the high price of dairy alternative beverages also limits the scope for the sales of dairy alternatives to an extent.
Nevertheless, with the rising incidence of lactose intolerance and dairy allergies will create opportunities for the market in the near future.
Global Dairy Alternative Market: Regional Outlook
Regionally, the global dairy alternative market has been segmented into Europe, Asia Pacific, North America, and Rest of the World. Among the regions Asia Pacific has been exhibiting highly attractive market opportunities. With the degree of health awareness among consumers in Asia Pacific rising at a fast pace, sooner than expected the region will showcase the highest demand for dairy alternatives. Besides this, the increasing population and the rising willingness among consumers to spend on health products are expected to boost the demand for dairy alternatives further in Asia Pacific.
The market also witnesses lucrative opportunities in North America, which Europe holds the position of the third-largest regional market in the global dairy alternatives market. The demand from both these regions is expected to grow at a rapid pace during the course of the forecast period.
Global Dairy Alternative Market: Competitive Landscape
In order to study the market’s vendor landscape, the report profiles some of the leading companies operating therein. These enterprises are Eden Foods Inc., Earth’s Own Food Company Inc., The Whitewave Foods Company, Organic Valley Family of Farms, Panos Brands LLC, Living Harvest Foods Inc., Grupo Le Pascual Sa, The Bridge S.R.L., The Hein Celestial Group Inc., Blue Diamond Growers Inc., Sunopta Inc., and OATLY A.B.
Using SWOT analysis, the strengths and weaknesses of the companies profiled are gauged. The analysis also helps provide insights into the threats and opportunities that these companies are likely to witness over the course of the report’s forecast period.
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.