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Report Code: CP10456
Category : Processed Food & Beverages
The global dairy alternatives market is fueled by increasing consumers’ preference towards vegan food, growing instances of lactose intolerant consumers, and nutritional benefits provided by such foods. The increasing urbanization leading to change in lifestyle is further driving the growth of the global dairy alternatives market. On the basis of formulation, the plain-unsweetened segment dominated the global market in 2014. Among applications, the beverages segment dominated the global market in 2014.
The dairy farms are consolidating worldwide, owing to declining profitability of the small scale dairy farmers. This is also affecting the raw milk production globally, thus creating demand of milk extracted from non-dairy sources. The increasing demand for nutritional products and flavored health drinks has been observed to increase in the recent years. The demand for such products is up surging despite their high price, as compared to the regular dairy products.
Dairy alternatives are products similar to dairy products, in terms of application; however they are derived from non-dairy sources, such as rice, oats, wheat, barley, and nuts. Being produced through cereals and nuts, they have positive image among consumers. The increasing obesity and gastrointestinal diseases is also emerging as potential drivers for the growth of the global dairy alternatives market. Based on various clinical research, over 80% of the global population suffer from gas, painful bloating, and diarrhea upon consumption of dairy products, due to lack the essential enzyme in their body that are required to breakdown the milk sugars. Moreover, the fats present in dairy products clogs arteries, thus leading to heart disease. On the other hand, the dairy alternatives, such as soy milk offer protective health benefits, owing to phytoestrogen content in them. Hemp milk is one of the best sources of Omega-3 fats, whereas almond milk is a good source of calcium.
The demand for dairy products, such as cheese, snacks, and desserts prepared from milk alternatives is also increasing globally. The increasing on-the-go health drinks consumption is boosting the growth of beverages segment in the application category of the global dairy alternatives market. The consumers carry health drinks at workplace, sports field, gymnasium, and schools to satiate their nutritional requirement without taking breaks during their schedule.
North America and Europe leads the global dairy alternatives market globally, however Asia-Pacific is expected to witness fastest growth among the regions, during the forecast period. Soy and almond milk are the most preferred milk alternatives in the U.S. Rice milk is most consumed among cereal-based milk in the country. The major markets in Europe are France, Italy, Germany, the U.K., and Spain. The key markets in Asia-Pacific are China, Japan, Australia, and New Zealand. The increasing population and urbanization in Asia-Pacific are the key growth drivers for dairy alternatives market in the region. The key competitors in the global dairy alternatives market include Archer Daniels Midland Company, WhiteWave Foods Company, Sanitarium Health and Wellbeing, Hain Celestial Group, Freedom Nutritional Products Group, SunOpta Inc., Nutriops S.L., Eden Foods Inc. and Earth’s Own Food Company Inc.
Global Dairy Alternatives Market Segmentation