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 study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.