Dublin, July 21, 2020 (GLOBE NEWSWIRE) — The “Dairy Alternatives Market by Source (Soy, Almond, Coconut, Rice, Oats, Hemp), Application (Milk, Cheese, Yogurt, Ice Creams, Creamers), Distribution Channel (Supermarkets, Health Stores, Pharmacies), Formulation and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global dairy alternatives market was valued at USD 21.44 billion in 2019 and is projected to reach USD 36.79 billion by 2025, at a CAGR of 11.4% during the forecast period.
Increase in the cases of lactose intolerance and milk allergies drive the overall growth of the dairy alternatives market.
The dairy alternatives market is driven by various factors such as growing consumer preference for a vegan diet and nutritional benefits offered by plant-based dairy alternatives. However, the volatile price of raw materials in various regions can hinder the growth of the market.
The soy segment, by source, is estimated to dominate the dairy alternatives market in 2020.
The soy segment held the largest share in 2020, in terms of value. Soya-based dairy alternatives are considered to be the best substitutes for dairy products and occupy a significant share in the dairy alternatives market. They are a rich source of proteins and calcium and are considered to be one of the best substitutes for dairy products by lactose-intolerant individuals.
The milk segment is projected to hold the largest market share during the forecast period.
The demand for dairy alternatives has increased over the years. The popularity of dairy-free milk can be attributed to the health concerns related to lactose intolerance and the hectic lifestyles of the working middle-class population, which encourage them to use convenience products for on-the-go consumption to save time. As health and convenience are prioritized by consumers, manufacturers are producing different flavored milk alternatives with vanilla or chocolate flavors to meet the growing demand in various regions.
Europe is projected to be the fastest-growing region in the dairy alternatives market, in terms of value.
The market in Europe is projected to be the fastest-growing due to the high level of awareness among the consumers. This has resulted in the demand for lactose-free or low-lactose, low-calorie, and low-fat foods in the region. As dairy products are associated with obesity, flatulence, gastrointestinal problems, and diabetes, the food & beverage companies are focusing on innovations to produce various nutritional lactose-free dairy alternative products to meet consumer demand.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Opportunities in the Dairy Alternatives Market
4.2 Market: Key Countries
4.3 Market, by Application
4.4 Developed Vs. Developing Markets for Dairy Alternatives
4.5 COVID-19 Impact on the Dairy Alternatives Market
4.6 Market, by Source
4.7 Market, by Formulation
4.8 North America: Market, by Application & Country
5 Market Overview
5.1 Introduction
5.2 Nutritive Analysis
5.3 Regulatory Bodies
5.3.1 Codex Alimentarius Commission
5.3.2 Food and Drug Administration (Fda)
5.3.3 the Soyfoods Association of America
5.3.3.1 Classification of Soymilk
5.3.4 Food Standards Australia New Zealand (Fsanz)
5.3.5 European Court of Justice
5.4 Patent Analysis
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Growth in Consumer Preference for a Vegan Diet
5.5.1.2 Nutritional Benefits Offered by Plant-Based Dairy Alternatives
5.5.1.3 Increase in Cases of Lactose Intolerance and Milk Allergies
5.5.2 Restraints
5.5.2.1 Volatile Prices of Raw Materials
5.5.3 Opportunities
5.5.3.1 Growth in Demand in Emerging Markets
5.5.3.2 Favorable Marketing and Correct Positioning of Dairy Alternatives
5.5.3.3 Changes in Lifestyles of Consumers
5.5.4 Challenges
5.5.4.1 Limited Availability of Raw Materials
5.5.4.2 Limited Awareness Amongst Consumers
5.5.5 COVID-19 Drivers
6 Dairy Alternatives Market, by Source
6.1 Introduction
6.1.1 COVID-19 Impact on Dairy Alternatives Market, by Source
6.1.1.1 Optimistic Scenario
6.1.1.2 Pessimistic Scenario
6.2 Soy
6.2.1 Easy Availability and High Acceptability of Soy-Based Products
6.3 Almond
6.3.1 Rise in Demand and Availability of Blended Forms of the Almond-Based Products
6.4 Coconut
6.4.1 Properties of High Palatability, Nutrition Level, and Heart-Healthiness of Coconut
6.5 Rice
6.5.1 Low Risk of Allergies and Comparatively Lighter and Bland Taste of Rice-Derived Products
6.6 Oats
6.6.1 Rich Nutritional Content of Oat-Derived Dairy Alternatives
6.7 Hemp
6.7.1 Rise in Awareness of Health Benefits Hemp-Based Dairy Alternatives Among Consumers
6.8 Other Sources
7 Dairy Alternatives Market, by Application
7.1 Introduction
7.1.1 COVID-19 Impact on the Dairy Alternatives Market, by Application
7.1.1.1 Optimistic Scenario
7.1.1.2 Pessimistic Scenario
7.2 Milk
7.2.1 Rise in Awareness About Healthy Beverages to Drive the Milk Market for Dairy Alternatives
7.3 Ice Creams
7.3.1 Rise in Demand for Cholesterol- and Fat-Free Desserts
7.4 Yogurt
7.4.1 Demand for Dairy-Free and Fortified Yogurt
7.5 Cheese
7.5.1 Demand for Dairy-Free Spreadable and Non-Spreadable Cheese from Lactose-Intolerant Consumers
7.6 Creamers
7.6.1 Leading Manufacturers Investing in R&D to Meet the Growing Demand for Dairy-Free Creamers
7.7 Other Applications
8 Dairy Alternatives Market, by Formulation
8.1 Introduction
8.1.1 COVID-19 Impact on Dairy Alternatives Market, by Formulation
8.1.1.1 Optimistic Scenario
8.1.1.2 Pessimistic Scenario
8.2 Flavored
8.2.1 Growth in Consumer Demand for Palatable but Healthier Options
8.3 Plain
8.3.1 Plain Soy and Almond Products Largely Consumed by Vegan and Lactose-Intolerant Population
9 Dairy Alternatives Market, by Nutrient
9.1 Introduction
9.2 Protein
9.3 Starch
9.4 Vitamins
9.5 Others
10 Dairy Alternatives Market, by Distribution Channel
10.1 Introduction
10.1.1 COVID-19 Impact on the Dairy Alternatives Market, by Distribution Channel
10.1.1.1 Optimistic Scenario
10.1.1.2 Pessimistic Scenario
10.2 Supermarkets
10.2.1 Supermarkets are most Preferred Due to Multiple Options Offered to Consumers
10.3 Health Food Stores
10.3.1 Health Benefits of Dairy Alternative Products Increase Sales Through Health Food Stores
10.4 Pharmacies
10.4.1 Rise in Health Issues and Prescriptions for Allergies Increase Sales Through Pharmacies
10.5 Convenience Stores
10.5.1 Easy Access and Convenience for Consumers Lead to Rise in Sales Through Convenience Stores
10.6 Online Stores
10.6.1 Sales Through Online Stores Offer Faster Accessibility and Cost Effectiveness
10.7 Other Distribution Channels
11 Dairy Alternatives Market, by Brand
11.1 Introduction
11.2 Silk
11.3 Dream
11.4 Almond Breeze
11.5 Sunrise Naturals
11.6 So Good
11.7 So Delicious
11.8 Australia’s Own Organic
11.9 Ecomil
11.10 Alpro
11.11 Edensoy
12 Dairy Alternatives Market, by Region
12.1 Introduction
12.1.1 COVID-19 Impact on the Market, by Region
12.1.1.1 Optimistic Scenario
12.1.1.2 Pessimistic Scenario
12.2 North America
12.2.1 US
12.2.1.1 Presence of Big Players in the Us Dairy Alternatives Market
12.2.2 Canada
12.2.2.1 Rise in Demand for Protein-Rich Dairy Substitutes in Canada
12.2.3 Mexico
12.2.3.1 Rise in Urbanization and Demand for Fortified Dairy-Free Products in Mexico
12.3 Europe
12.3.1 Germany
12.3.1.1 Growth of the Food & Beverage Industry in Germany
12.3.2 UK
12.3.2.1 Consumer Inclination Toward Healthy Products on the Rise in the Uk
12.3.3 France
12.3.3.1 Increase in Consumption of Soy-Based Products in France
12.3.4 Italy
12.3.4.1 Large-Scale Consumption of Cheese Through the Italian Cuisine
12.3.5 Spain
12.3.5.1 the Rise in Prices of Raw Milk in Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.1.1 Applications of Soy-Derived Dairy Alternatives in Various Chinese Cuisines
12.4.2 Japan
12.4.2.1 Rise in Demand for High-Protein Healthy Products in Japan
12.4.3 India
12.4.3.1 Rise in Demand for Using Dairy-Free Substitutes in Traditional Sweets in India
12.4.4 Australia & New Zealand
12.4.4.1 Rise in Trend of Demand for Nutritional Products in Australia & New Zealand
12.4.5 Rest of Asia Pacific
12.5 South America
12.5.1 Brazil
12.5.1.1 Demand for Clean Label and Rise in Soy Production in Brazil
12.5.2 Argentina
12.5.2.1 Large Local Soybean Production and Growth in Demand for Clean Label Products
12.5.3 Rest of South America
12.6 Rest of the World (Row)
12.6.1 Middle East
12.6.1.1 High Spending Power and Presence of Health-Conscious Consumers in the Middle East
12.6.2 Africa
12.6.2.1 Rise in Urbanization and Growth of the Retail Chain to Increase Demand for Dairy Alternatives in Africa
13 Competitive Landscape
13.1 Introduction
13.2 Competitive Benchmarking
13.2.1 Product Offering (For All 25 Players)
13.2.2 Business Strategy (For All 25 Players)
13.3 Competitive Leadership Mapping
13.3.1 Stars
13.3.2 Emerging Leaders
13.3.3 Pervasive Players
13.3.4 Emerging Companies
13.4 COVID-19-Specific Company Response
14 Company Profiles
14.1 the Whitewave Foods Company
14.2 Hain Celestial
14.3 Blue Diamond Growers
14.4 Sunopta
14.5 Sanitarium
14.6 Freedom Foods Group Limited
14.7 Eden Foods, Inc.
14.8 Ecomil
14.9 Earth’s Own Food Company Inc.
14.10 Triballat Noyal
14.11 Valsoia S.P.A.
14.12 Dhler
14.13 Panos Brands
14.14 Green Spot Co., Ltd.
14.15 Hiland Dairy
14.16 Ripple Foods
14.17 Kite Hill
14.18 Wayfare
14.19 Califia Farms
14.20 Daiya Foods Inc.
14.21 Pureharvest
14.22 Goodmylk
14.23 Vly
14.24 Miyoko’s Creamery
14.25 Oatly Inc.
15 Adjacent and Related Markets
15.1 Introduction
15.2 Limitations
15.3 Plant-Based Protein Market
15.3.1 Market Definition
15.3.2 Market Overview
15.4 Almond Ingredients Market
15.4.1 Market Definition
15.4.2 Market Overview
16 Appendix
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