Global Dairy Alternatives Market 2011-2018 & 2024: Market is Expected to Surpass US$ 34 Billion

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Mar 05, 2018, 08:30 ET

DUBLIN, March 5, 2018 /PRNewswire/ --

The "Global Dairy Alternatives Market, Consumption Volume (by Source, Region & Application) and 20 Company Profile - Forecast to 2024" company profile has been added to ResearchAndMarkets.com's offering.

The global dairy alternatives market is expected to surpass US$ 34 Billion mark by 2024

Dairy alternative is derived from the plant based milk sources and is lactose and casein free. Dairy alternative is manufactured by using various plant based sources like soy, almond, coconut, rice, hazelnut and many more. Today, food intolerances and food allergies have become a major concern for health-conscious consumers. Following a dairy-free diet has numerous benefits, and is widely exercised by health-conscious consumers and fitness enthusiasts.

The increasing awareness of consumers towards a vegan diet, nutritional benefits provided by such foods, lactose intolerance among the population and demand for various fortified dairy food & beverage applications are some of the factors expected to propel the growth of dairy alternatives market in the coming years. Some of the key factors inhibiting the growth of dairy alternatives market includes cross contamination of raw materials and high price of dairy alternative products.

Market Dynamics

Growth Drivers

Increase in lactose Intolerance and Dairy Allergic Consumers
Non-Dairy Milk Sales Growth is Outpacing Regular Milk
Changing Dietary Lifestyles and Genetic Disorders
Increasing Demand from Developing Countries

Challenges

Cross Contamination of Raw Materials
High Price of Dairy Alternative Milk

Global Dairy Alternatives Market - by Source

In terms of source, the soy segment accounts for largest share of the dairy alternatives market.
The popularity of soy milk can be attributed to the plethora of varieties, in terms of flavors, blends, fat content, and formulations offered by leading dairy alternative manufacturers.
The almond milk is one of the fastest segment in the dairy alternatives market.
Rice milk captures third highest share of the dairy alternatives market. Rice milk is a great alternative to conventional milk with its benefits such as free-from cholesterol and lactose.
Coconut milk captures least share of the dairy alternatives market.

Global Dairy Alternatives Market - Region Analysis

Geographically, the global dairy alternatives market is dominated by Asia-Pacific region.
North America is the second largest market for dairy alternatives, being closely followed by the European region. The dairy alternatives market in these regions is driven by rapid growth in the consumption of dairy alternative products, mainly due to the increased disposable income, changes in the lifestyle and dietary patterns.
In Latin America, Brazil, Mexico and Argentina are observing high demand for dairy alternatives.

Global Dairy Alternatives Market - By Application

In 2017, beverages segment accounted for lion's share of the global dairy alternative market.
The food segment accounted for nearly 45% share of the global dairy alternative market in 2017.

Global Dairy Alternatives Market, Volume & Forecast - By Source (2011 - 2024)

1. Soy
2. Almond
3. Rice
4. Coconut
5. Others

Global Dairy Alternatives Market, Volume & Forecast - By Application (2011 - 2024)

1. Food
2. Beverages

Global Dairy Alternatives Market - Company Profiles

1. WhiteWave Foods Company
2. Hain Celestial Group Inc.
3. Blue Diamond Growers, Inc.
4. Organic Valley
5. SunOpta Inc.
6. Sanitarium Health and Wellbeing Company
7. Freedom Foods Group Limited
8. Kikkoman
9. Vitasoy International Holdings Limited
10. Living Harvest Foods Inc.
11. Nutriops S.L
12. Eden Foods Inc.
13. Earth's Own Food Company Inc.
14. Triballat Noyal
15. Valsoia SpA
16. Daiya Foods Inc. (Acquired by Otsuka Pharmaceutical Co., Ltd.)
17. Dhler GmbH
18. Archer Daniels Midland Company
19. Danone
20. GRUPO LECHE PASCUAL, S.A.

For more information about this company profile visit https://www.researchandmarkets.com/research/t79mgs/global_dairy?w=5

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SOURCE Research and Markets