Dairy Alternatives Market to register over 10% CAGR up to 2025

The unsweetened segment of the dairy alternative market holds a major share of the overall industry owing to increasing intake of light-tasting substitute by diabetic patients for maintaining a healthy diet.

Sellbyville, United States - April 9, 2019 /MarketersMedia/ —

Almond-based dairy alternatives market will register a lucrative CAGR of 8.5% from 2019 to 2025. Increasing almond production to cater the growing demand along with rising consumer awareness regarding health benefits are positively influencing the industry development. Further, almond milk provides benefits such as higher daily recommended value for vitamin D and vitamin E, low-calorie content, and reduced cholesterol levels.

Global Dairy Alternatives Market will hit USD 37.5 billion by 2025; according to a new research report by Global Market Insights, Inc. The growing demand for dairy-free products across various end-use industries such as cheese, desserts, snacks, and beverages are steering the industry growth. Increasing intake of dairy alternatives by vegan population coupled with rise in patients suffering from lactose intolerance, milk allergies, and calorie concerns will bolster the product adoption in beverage applications.

The beverage segment dominates the industry and anticipated to reach around USD 33 billion in 2025. The growing trend of utilizing plant-based product content in a beverage for people suffering from milk allergy, lactose intolerance, and phenylketonuria will fuel the business growth. Dairy alternative products that are derived from soy and almond cater to a wide range of beverage applications. The use of dairy free products enhances the texture and creaminess of flavored milk, shakes, and smoothies which increases the desirability quotient of beverages, thereby increasing product demand.

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Regulatory agencies such as EDA, USDA, FAO, USFDA, EC, etc. undertook initiatives such as awareness campaigns to promote the need for maintaining healthy diet and lifestyle owing to increasing instances of diseases related to lactose tolerance and nutrition deficiency. For instance, EDA witness around 56% of the Italy population was lactose intolerant or suffered health issues related nutritional deficiency in June 2018. The agency listed out multiple guidelines regarding the consumption of milk and other dairy products as a counter measure of coping up with this diet and lifestyle related issue.

Coconut is expected to witness a significant growth at over 10% up to 2025. Coconut milk is commonly used dairy milk substitute having a creamy texture with a relatively high amount of fat content. It offers benefits such as increased levels of HDL cholesterol in the body, efficient weight management, and protection from cardiovascular diseases. These factors are expected to fuel the segment demand over the forthcoming years.

Online stores emerged as the fastest growing distribution channel. The online services sector has gained momentum in both developed and developing countries owing to cost-effectiveness and faster accessibility. The increasing popularity of online sales channels is creating potential opportunities for segment growth over the forecast timeframe.

North America dairy alternatives market accounts for over 25% share and expected to witness significant gains over the forecast timeline. The escalating number of patients with allergies and nutritional deficiency will result in dairy alternative products demand across the region. Changing eating habits and lifestyle owing to rising adult population suffering from obesity and diabetes in the U.S. and Canada will further drive the plant-based rice and almond milk products demand.

Asia Pacific is projected to witness the fastest growth at over 10% from 2019 to 2025, led by countries such as China, India, Japan, and Indonesia. Lifestyle changes towards healthy living coupled with growing consumer spending are driving the product demand. Soy-based dairy alternatives market account for around 65% share in the region owing to high protein content, and growing soybean production in China and India. India?s soybean production increased from over 8.5 MMT in 2014 to around 11.0 MMT in 2018, thus providing a positive business outlook for manufacturers.

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The global dairy alternatives market is highly competitive owing to the presence of a few dominating companies including Whitewave Foods, Hain Celestial Group, Inc., Blue Diamond Growers, SunOpta Inc., New Barn. Other prominent players in the industry include Triballat Noyal, Califia Farms, Valsoia S.p.A, Freedom Foods, and Pacific Foods.

Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/dairy-alternatives-market

Source URL: https://marketersmedia.com/dairy-alternatives-market-to-register-over-10-cagr-up-to-2025/500247

Source: MarketersMedia

Release ID: 500247