Dairy Alternatives Market: Snapshot
The global dairy alternatives market comprises of an extensive number of players, a great deal of whom are undergoing magnificent development through the increasing number of individuals analyzed as allergic to milk or lactose intolerant. With progressions in medical innovation and a developing rate of rising awareness about lactose and the human body among buyers of milk, the market for dairy alternatives is witnessing a significantly more noteworthy number of shares than before. The global dairy alternatives market is being supported by different factors, for example, the developing variety of dairy alternatives over the world, and the rising advantageous nature of various kinds of dairy alternatives. Nevertheless, the global dairy alternatives market is right now being smothered by factors, for example, the higher cost of dairy alternatives when contrasted with dairy items, and the absence of clarity encompassing a considerable measure of the presently accessible dairy alternative items.
The global dairy alternatives market in 2015, had achieved worth of US$8.22 bn, and is anticipated to reach around worth of US$26.31 bn before 2024, rising at a robust CAGR of 13.8% within forecast period from 2016 to 2024.
Rising Usage of Dairy Products to Fuel Global Demand
The global dairy alternatives market is divided based on applications, into food and drinks. In 2015, among these, beverages held the main share in the global dairy alternatives market regarding both volume and value. Dairy elective food are likely to observe a noteworthy development over the coming years, because of overwhelming rate of utilization of dairy alternatives in various popular food products, for example, cheeses, spreads, and sweets.
On the basis of distribution, the dairy alternatives market is segmented into small retail, large retail, special stores, and ecommerce or online business. Huge retail chains accounted the main offer in the global dairy alternatives market for 2015. In the meantime, online deals are estimated to flood over the coming years. The online revenue of dairy alternatives is foreseen to be the especially quick, inferable from the simplicity with which makers or vendors can give a more extensive variety of products in various tastes, flavors, and details and additionally the customer loyalty program and discounts.
Increasing Popularity of Almond Milk to Augment Demand in Europe
On the basis of geographical regions, the global dairy alternative market is dominated by Asia Pacific in 2015, above other the regions of Europe, North America, Latin America, and the Middle East and Africa. At the time, Asia Pacific had held share of around 53% of the global market's value, and is significantly prone to keep driving the regional demand for dairy alternatives over the coming years.
In the meantime, Latin America is developing as a very encouraging region for players from the global dairy alternatives market for about similar reasons. While all the regions are encountering a surged demand for dairy alternatives in drinks, Europe and North America and particularly are encountering a high rate of growth popular for almond milk.
The key players in the global dairy alternatives market are Blue Diamond Growers, Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, The Whitewave Foods Company, Freedom Foods Group Limited, SunOpta, Inc., Earth’s Own Food Company, Inc., Daiya Foods Inc., The Hain Celestial Group, Inc., Eden Foods, Inc., Sanitarium Health, and Wellbeing Company.
Global Dairy Alternatives Market: Overview
The report covers the analysis and forecast of the diary 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).
The study provides a detailed view of the diary alternatives market by segmenting it based on product type, formulation, application and distribution. On the basis of product type, the diary alternatives market has been further segmented into soy milk, almond milk, rice milk, coconut milk and other type of products. The diary 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 diary alternatives market is segregated into food and beverages. On the basis of distribution, the diary alternatives market is segmented into large retail, small retail, specialty stores and online distribution channel.
Global Dairy Alternatives Market: Scope of the Study
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 diary 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 diary alternatives market.
The report provides the size of the diary alternatives market in 2015 and the forecast for the next nine years up to 2024. The size of the global diary 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.
Global Dairy Alternatives Market: Research Methodologies
Market estimates for this study have been based revenue being derived through regional pricing trends. The price for commonly utilized quality of diary alternatives in each application and function has been considered. Demand for diary alternatives has been derived by analyzing the global and regional demand for diary alternatives in each application for its respective functions. The global diary alternatives market has been analyzed based on expected demand. Average selling price of diary alternatives products in the major countries has been taken into consideration to estimate regional and global revenue. Forecasts have been based on the expected demand from diary alternatives applications. We have used the bottom-up approach to estimate the global revenue of diary alternatives market, split into regions. We have initially determined the volume and price in every region for the diary alternatives market. Revenue has been determined with the help of volume and price derived from every region.
Based on product type, formulation, application and distribution, we have summed up the individual revenues from all the regions to achieve the global revenue for diary alternatives. The application split of the market has been derived using a bottom-up approach for each regional market separately, with the global application segment split being an integration of regional estimates.Companies were considered for the market share analysis based on their product portfolio, revenue, and manufacturing capacity. In the absence of specific data related to the sales of diary alternatives of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.
Global Dairy Alternatives Market: Competition Assessment
Regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual product and applications in all regions.
The competitive profiling of the key players in the global diary alternatives market across five broad geographic regions is included in the study. These include different business strategies adopted by the leading players and their recent developments as in the field of dairy alternatives.
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.
The market has been segmented as follows:
Global Dairy Alternatives Market: By Product Type
- Soy Milk
- Almond Milk
- Rice Milk
- Coconut Milk
Global Dairy Alternatives Market: By Formulation
- Plain Formulation
- Plain Sweetened Formulation
- Plain Unsweetened Formulation
- Flavored Formulation
- Flavored Sweetened Formulation
- Flavored Unsweetened Formulation
Global Dairy Alternatives Market: By Application
Global Dairy Alternatives Market: By Distribution
- Large Retail
- Small Retail
- Specialty Stores
Global Dairy Alternatives Market: By Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America