Dairy Alternative Market 2021 Global Trends, Share, Growth, Analysis, Opportunities and Forecast To 2026
Research Reports
Jan 12, 2021
Dairy consumption is undergoing a revolution as a rapidly growing number of consumers switch to dairy-free milk alternatives. Dairy Alternatives are a rising trend, which can serve as an alternative to the fat and cholesterol-rich cow milk’s products and in places, where cow’s milk supply is insufficient.
Increasing awareness for a vegan diet, rising population of lactose intolerants and the changing perception of consumers’ about health are the primary factors which are boosting the market for dairy alternatives
Roughly two-thirds of the world’s adult population is lactose-intolerant. In Asia and Africa, the figure is around 90%. But even in Northern Europe, where only 10% of the population is affected, trends such as the vegan diet are leading to increased demand for dairy-free and lactose-free products.
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Dairy alternatives are consistently costlier than dairy milk
The high cost of dairy alternatives in comparison to the dairy milk can be a significant re-straint, and it will impede the growth of the market.
The Global Dairy Alternatives Market report segments the market- By Type, By Formulation, by Application and by geography. By type the market has been segmented into – Almond Milk, Soy Milk, Coconut Milk, Cashew Milk and Others. Almond Milk leads the other kinds of plant milk regarding the market value and has the highest market share globally in dairy alternatives. Compared to other plant-based milk, almond milk is naturally an excellent source of vitamins, especially vitamin E which cannot be synthesised by the body and need to be supplied through diet or supplements.
By Formulation, the market has been segmented into- Original & Sweetened, Original & Un-sweetened, Flavoured & sweetened and flavoured & unsweetened. By Application type, the report segments the market into- Milk, Beverages, Frozen Desert, Yogurt, Cheese, Creams and Others. On the bases of geography, the market has been segmented as- North America, South America, Asia-Pacific, Europe and Rest of the World. The Asia-Pacific has the highest market share followed by North America.
The popularity of Dairy Alternatives in North America is increasing very rapidly and particu-larly in the US. The new food guidelines in the US developed under the “ChooseMyPlate”, placed dairy alternatives such as soymilk, rice milk and almond milk in the “Dairy Group” (USDA, 2014). Soy Milk was the leader of the market earlier, but Almond Milk is now Ameri-ca’s favourite milk substitute, boasting the sales growth of 250 per cent over the five years period covering 2010 to 2015. While almond milk still accounts for just a fraction of the to-tal milk market (about 5%), it brings in more than twice the revenue of the other milk sub-stitutes combined.
The increasing trend of almond milk sales in the US can be attributed to:
- Consumer valuing “back-to-basics” food with attributes such as “all-natural”, “no artificial colour or flavours” and “made from vegetables or fruits”.
- Dietary restrictions like lactose intolerance with dairy milk and concerns over hormones (plant estrogen or iso-flavones) found in soy milk.
- Ingredients sourced sustainably are very important in consumers’ purchase decisions. This attribute is essential for 40% of Generation Z, followed by 38% of Millennial, 34% of Gener-ation X and 21 per cent of boomers and seniors.
The report profiles the following companies: Blue Diamond Growers, Earth’s Own Food Company, Inc., Valsoia, Triballat Noyal, The Whitewave Foods Company, Sunopta Inc., Döhler GmBH, Free-dom Foods Group Limited, Eden Foods Inc. and Nutriops S.L.
The dairy industry is slowly waking up to the fact that milk is going out of style. And many big food brands are investing in the dairy alternatives market. Danone, a multi-national food company, sensing the growth opportunities available in the dairy alternative market, acquired The White-wave Foods for a $10 billion deal. Following the footsteps of Danone, Dean Foods Company, the largest dairy producer in the United States known for its DairyPure brand, took a minority stake in plant-based milk and yogurt company Good Karma Foods.
Key market segments covered
Type
- Almond Milk
- Soy Milk
- Coconut Milk
- Cashew Milk
- Others
By Application
- Milk
- Beverages
- Frozen dessert
- Others
By Formulation
- Original & Sweetened
- Original & Unsweetened
- Flavoured & Sweetened
- Flavoured & Unsweetened
By Region
- Asia Pacific
- Europe
- North America
- South America
- Rest of the World
Why purchase the report?
- Visualize the composition of the Dairy Alternatives market across each indication, in terms of type, formulation type and applications, highlighting the critical commer-cial assets and players.
- Identify commercial opportunities in Dairy Alternatives market by analysing trends and co-development deals.
- Excel data sheet with thousands of data points of the Dairy Alternatives market level 4/5 segmentation
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Product mapping in excel for the vital Dairy Alternatives market products of all ma-jor market players
Target Audience
- Raw Material Suppliers/ Buyers
- Product Suppliers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
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Table of Contents
- Global Dairy Alternatives Market – Methodology and Scope
1.1. Research Methodology
1.2. The scope of the Report
- Global Dairy Alternatives Market – Trends
2.1. Key Trends & Developments
- Global Dairy Alternatives Market – Industry Analysis
3.1. Industry Impact Factors (Drivers & Restraints)
3.2. Competitive Intensity- Porter 5 Forces
- Global Dairy Alternatives Market – By Type
4.1. Almond Milk
4.2. Soy Milk
4.3. Coconut Milk
4.4. Cashew Milk
4.5. Others
- Global Dairy Alternatives Market – By Application
5.1. Milk
5.2. Beverages
5.3. Frozen dessert
5.4. Yogurt
5.5. Others
- Global Dairy Alternatives Market – By Formulation Type
6.1. Original & Sweetened
6.2. Original & Unsweetened
6.3. Flavoured & Sweetened
6.4. Flavoured & Unsweetened
- Global Dairy Alternatives Market – By Geography
7.1. North America
7.1.1. The United States
7.1.2. Canada
7.1.3. Mexico
7.2. South America
7.2.1. Brazil
7.2.2. Argentina
7.2.3. Rest of South America
7.3. Europe
7.3.1. Germany
7.3.2. United Kingdom
7.3.3. France
7.3.4. Rest of Europe
7.4. Asia-Pacific
7.4.1. China
7.4.2. Japan
7.4.3. India
7.4.4. Australia
7.4.5. Rest of Asia-Pacific
7.5. Rest of the World
- Global Dairy Alternatives Market – Competitive Landscape
8.1. Market Share Analysis
8.2. Key Strategies adopted by Manufacturers
8.3. Product Benchmarking
- Global Dairy Alternatives Market – Company Profiles
9.1. Blue Diamond Growers
9.2. Earth’s Own Food Company, Inc.
9.3. Valsoia
9.4. Triballat Noyal
9.5. The Whitewave Foods Company
9.6. Sunopta Inc.
9.7. Döhler GmBH
9.8. Freedom Foods Group Limited
9.9. Eden Foods Inc.
9.10. Nutriops S.L.
- Global Dairy Alternatives Market – Appendix
10.1. Sources
10.2. List of Tables
10.3. Expert Panel Validation
10.4. Disclaimer
10.5. Contact Us
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