Dairy Alternatives Market
Dairy Alternatives Market (Source: Soy, Almonds, Rice, Coconut, Oats, Others; Product: Flavored, Regular/Unflavored; Nature: Organic, Conventional; Sales Channel: Direct (B2B), Indirect (B2C) (Hypermarkets/Supermarkets, Convenience Stores, Mass Grocery Retailers, Specialty Stores, Online Retail)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Press Release :
Dairy Alternatives Market: Innovative Soy Milk Offerings Gain Demand with Novel Packaging Techniques
Players in the dairy alternatives market are introducing unique dairy alternatives in the food and beverage landscape. According to NIH (National Institutes of Health), ~65% of the world population faces the issue of lactose intolerance. This is why manufacturers in the dairy alternatives market are innovating on alternatives such as soy milk with chickpea protein.
To add further value to their products, dairy alternatives market manufacturers are innovating on novel packaging options such as microwaveable aseptic carton packs. In order to provide 'on-the-go' convenience for consumers, soy milk is designed to be served warm with first-of-its-kind technology of microwaveable packaging. This helps in brand enhancement and premiumization of nutritional beverages, which leads to flexibility for sales through various distribution channels.
Manufacturers in the dairy alternatives market are developing fail-safe packaging mechanisms to protect the product from light, oxygen, scent, water, and even overheating. As such, dairy alternatives market players are increasing the distribution of soy milk products using online retail channels, groceries, and convenience stores. The nutritional value of soy milk is leveraged with high protein ingredients such as cabbage, banana, broccoli, and the like.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Dairy Alternatives Market: Plant-based Foods Trigger Sales
Manufacturers are increasing product line offerings with expansions in non-dairy alternatives. They are introducing plant-based offerings such as almond milk yogurt. This dairy alternative is made using premium-quality almonds and interesting add-ons such as granola and chocolate chips, to provide excellent taste and texture to the product. Plant-based almond milk yogurt serves as a high quality dairy alternative, free from allergens such as lactose.
Due to the growing demand from consumers for delicious plant-based foods, manufacturers are introducing the crunchy goodness of almonds and other toppings to bring innovation into the growing plant-based yogurt space. For instance, in May 2019, Blue Diamond Growers — a California agricultural cooperative, announced the launch of Almond Breeze Almond milk Yogurt Alternative, a dairy substitute that is a new addition to its plant-based yogurt category.
As the dairy alternatives market is estimated to grow to a value of ~US$ 34.6 billion by the year 2029, oat milk is gaining consumer attention with the introduction of innovative oat milk beverages. Companies are looking to profit from the surge in non-dairy milk sales, and are introducing oat beverages in unflavored as well as flavored essence, such as vanilla.
Request a sample to get extensive insights into the Dairy Alternatives Market
Environmental Concerns and Dietary Changes of Consumers Influence Market Growth
The dairy alternatives market has dominated product innovation and grown tremendously in the last couple of years, which has led to a significant threat to the sales of traditional dairy products. However, the growing demand for plant-based foods has given rise to environmental concerns. Manufacturers have to exert tremendous pressure on water resources to cultivate almonds. Also, rice emits the most greenhouse gases, such as methane, due to bacterial activity in flooded rice paddies. The cultivation of soy and oats requires large land areas, thus leading to deforestation.
Since children are one of the key consumers of dairy alternatives and plant-based milks, the nutritional content of certain plant-based milks do not suffice requirements. For example, almond milk is low in protein, rice milk contains low levels of arsenic, and hemp milk is not easily available in supermarkets and other retail stores. Thus, market players need to consider long-term environmental costs and dietary changes of consumers from dairy to plant-based diets to effectively push the sales of non-dairy products.
Stuck in a neck-to-neck competition with other brands? Request a custom report on “Dairy Alternatives Market”
Dairy Alternatives Market: Analysts’ Viewpoint
Analysts of the dairy alternatives market opine that the market will experience promising growth during the forecast period. Manufacturers must cater to the growing demand for microwaveable and nutritious plant-based beverages for on-the-go consumption, especially targeting in Asia. The concept of active nutrition is increasing in the sports nutrition space with the growing adoption of plant-based diets. Also, vegan cheese is triggering sales in the dairy alternatives market. However, market players are challenged with environmental costs and lack of product availability in developing economies. Thus, manufacturers are adopting sustainable crop cultivation techniques, and increasing distribution via online home shopping channels, specialty stores, and supermarkets. Market players should focus on innovative offerings in soy and almond milk products.
- According to Transparency Market Research’s latest market report on the dairy alternatives market for the historical period of 2014-2018 and forecast period of 2019-2029, the global dairy alternatives market is projected to be valued at ~US$ 15.6 Bn in 2019, and is forecasted to reach ~US$ 34.6 Bn by 2029, growing at a CAGR of ~8%.
- Dairy alternatives are substitutes of dairy products, which are replacing many dairy products and proving beneficial for the dairy susceptible population. These dairy alternatives are plant-based and possess various health benefits in comparison to dairy-based products in the market.
- People who are suffering from dairy allergy, lactose intolerance, or those who are moving towards a vegan diet are influencing the growth of the dairy alternatives landscape.
- Dairy alternative products are mostly obtained from soy, almonds, rice, coconut, oats, and others. Dairy alternatives are categorized into regular/flavored and unflavored.
- Dairy alternatives fulfill the standards of organic farming. They are certified organic by a recognized certification authority, and are considered under the organic beverage category.
- Based on sales channel, the market for dairy alternatives is classified into B2B and B2C. B2C is further classified as hypermarkets/supermarkets, convenience stores, mass grocery retailers, specialty stores, and online retailers.
Dairy Alternatives Remain More Preferred than Dairy Products
- Increasing prevalence of food-borne allergies & intolerance related to dairy-based food products are boosting the market for dairy alternatives.
- Increasing health consciousness among consumers is one of the key factors, due to which, the market demand for dairy alternatives is increasing in food and beverage industries such as bakeries, confectionaries, and others.
- Dairy alternatives are witnessing high market demand because of the growing preference for plant-based products among the population.
- Another reason for increasing demand for dairy alternatives is the growing number of vegan population. North America, followed by Europe, has the highest number of vegan population; hence, dairy alternatives have become more popular than dairy products.
Asia Pacific to Lead Market Growth
- Based on geographical region, the global dairy alternative market is dominated by the Asia Pacific excluding China, ahead of other regions such as Europe, North America, Latin America, and the Middle East and Africa. Asia Pacific holds a significant market share, i.e. ~27% of the global market's value, and is expected to significantly drive the regional demand for dairy alternatives over the coming years.
- However, the maximum growth opportunity for dairy alternatives is anticipated to come from Europe in the coming period, because of increasing vegan population.
- In the meantime, Latin America is developing as a very encouraging region for players in the global dairy alternatives market for similar reasons.
Growing Concerns Regarding Animal Welfare
- Consumers have become more sympathetic and sensitive towards animals, because of the conditions in which they are raised and harvested. Animal welfare is the main factor for costumers moving toward plant-derivative products, comprising dairy alternatives.
- Several animals such as cows and buffaloes undergo gene manipulation, and they are also treated with hormones such as BGH and antibiotics to produce more milk. Growth hormones and antibiotics that are used to increase the efficiency and productivity of bovine animals adversely affect their health and increase the frequency of congenital infirmities in their offspring.
Rising Prevalence of Dietary Restrictions
- Consumers have become more health conscious these days, and are opting for restrictive diet/food that is mainly focused on more intake of plant-derived products, as well as dairy alternatives.
- Though food allergies or intolerances (i.e., lactose intolerance) initiate some of these types of diets, others such as Paleo diet and flexitarian diets are aimed at attaining better well-being, and are being preferred by consumers.
Increasing Vegan Population Driving the Market Demand for Dairy Alternatives
- Veganism is a type of diet that includes only plants products. Vegans don’t support animal exploitation and don’t use or consume animal products.
- In the last few years, the vegan population has been consistently increasing, globally. Another reason for increasing veganism is the intolerance or allergy of animal products.
- North America and Europe have the largest numbers of vegan population. Dairy alternatives are plant-based products, and due to this, the market for dairy alternatives is increasing rapidly in all industries to fulfill the demands of vegan consumers.
Dairy Alternatives Market: Key Players
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
- Wellbeing Company.
Dairy Alternatives Market: Key Developments
Some of the key developments seen in the dairy alternatives market from the past few years are as follows:
- In April 2018, Vinamilk, a leading dairy company of Vietnam has launched a soymilk walnut drink; the product is a combination of walnut extract and soy milk.
- Daiya, a North American company, launched its product in the European market, which started from London.
Dairy Alternatives Market - Scope of the Report
Transparency Market Research (TMR) recently published a market study on dairy alternatives. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities & restraints, and detailed information about the dairy alternatives market structure. The market study presents exclusive information about how the dairy alternatives market is projected to grow during the forecast period of 2019-2029.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are explained in TMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the dairy alternatives market during the forecast period.
The study is relevant for stakeholders in the dairy alternatives market, including dairy alternatives manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the dairy alternatives market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in TMR’s study.
The study also includes statistics as well as facts related to the macro as well as microeconomic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the dairy alternatives market. Furthermore, small businesses and new entrants in the dairy alternatives market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Dairy Alternatives Market Report
- Which regions will continue to remain the most profitable regional markets for dairy alternative market players?
- Which factors will induce a change in the demand for dairy alternatives during the assessment period?
- How will changing trends impact the growth of the dairy alternatives market?
- How can market players capture the low-hanging opportunities in the dairy alternatives market in developed regions?
- Which companies are leading the dairy alternatives market?
- What are the winning strategies of stakeholders in the dairy alternatives market to upscale their position in this landscape?
Dairy Alternatives Market: Research Methodology
In TMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the dairy alternatives market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the dairy alternatives market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the dairy alternatives market, and makes TMR’s projection on the growth prospects of the dairy alternatives market more accurate and reliable.
Key Segments of the Dairy Alternatives Market
TMR’s study on the dairy alternatives market offers information divided into important segments—source, product, nature, sales channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.