Dairy Alternative Market – Overview
The dairy alternative market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Dairy alternative Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR 14.55 % while achieving USD 19.5 billion dollar growth readily in the forecast period.
Increasing problems associated with dairy products have prompted the growth of dairy alternatives market. Lactose intolerance has become a common and major issue among the growing population. Around 75% of the world’s population undergo through lactose intolerance which is the main driver for dairy alternative market. People who are lactose intolerant lack enzyme (lactase) in their small intestine to break down all of the lactose consumed. They cannot ingest dairy products as it leads to nausea, abdominal pain, abdominal gas & flatulence, vomiting, perianal redness, acidic diarrhea, and various other health issues. Due to these issues, consumers are inclining towards dairy alternatives which provide them the same amount of nutrition without any health issues.
Increase in vegan population is another factor boosting the growth of the diary alternative market. Growing concern on animal welfare, human health and the environment has led to the rising trend of veganism which has become a mainstream now. Veganism is associated with variety of beneficial health effects such as better heart health, improved diabetes, and lower rates of obesity, among others. Israel, Sweden, Japan, Poland, U.S., Germany, and U.K. has the largest concentration of vegans. This has opened doors for the dairy alternative market and influenced the key players in the industry to focus over dairy alternative products.
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Latest Industry Updates
- Dec 2017 Lifeway Foods, an American health food company selling kefir has expanded its product portfolio with the launch of non-dairy organic sparkling probiotic beverage. Moreover, it will hit the store shelves in early 2018 with traditional Icelandic-style skyr and plant based probiotic beverages. This move will help the company to attract growing consumers preferring non-dairy products.
- Nov 2017 Few new plant sources have entered the shelves in the Anuga Food Fair 2017. Few of them include hemp, flex, rice, potato, oat, lupin and others. Among all, Lupin has recently found its way back into favor and is being used in beverages and ice cream by Prolupin.
- April 2017 Danone acquired WhiteWave, a plant based Food and Beverage Company operating throughout North America and Europe. This strategic move by Danone will combine their activities in North America with an aim to expand and grow the plant-based category around the world.
- March 2017 Daiya, a leading manufacturer of plant based foods showcased new products at Natural Products Expo West. The new products launch include; Daiya Slices, Shreds – Cutting Board Collection, Deluxe Cheeze Sauce, Plain and Vanilla Greek Yogurt Alternative, Pumpkin Spice Cheezecake, and Garden Vegetable Cream Cheeze Style Spread.
Dairy Alternative Market – Competitive Analysis
With the entry of industry players in the dairy alternative segment, a trend of solid, volume- driven growth has been observed in the market. Continuous innovation and new product launches in the market is creating a competitive environment for the industry players and offering wide range of products to the market. With companies aiming to capture a considerable share of the market as early as possible, they are undergoing acquisitions and expanding their geographical presence. Technological advancements and innovative product offering is the long term growth opportunity for this sector.
The key players profiled in dairy alternative are as Blue Diamond Growers (U.S.), Hain Celestial Group (U.S.), Whitewave Foods (France), Sunopta Inc. (Canada), Daiya Foods Inc. (Canada), Galaxy Nutritional Foods, Inc. (U.S.), Tofutti Brands Inc (U.S.)
Dairy Alternative Market – Segments
The global dairy alternative market has been divided into source, application, formulation, distribution and region.
- On The Basis Of Source: Soy milk, Almond milk, Coconut milk, Rice milk, and Others.
- On The Basis Of Application: Food and Beverages
- On The Basis Of Formulation: Plain; (Plain sweetened, Plain unsweetened) Flavored; (Flavored sweetened, flavored unsweetened)
- On The Basis Of Distribution channel: Store based (supermarket and hypermarket, health & wellness, pharmacy, convenience stores and others), and Non-store based
- On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Dairy Alternative Market – Regional Analysis
The global dairy alternative market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global dairy alternative market is highly dominated by Asia Pacific .This is attributed by the massive growth of food & beverages industry in developed economy of Asia Pacific region over the last decade. In Asia Pacific, Indonesia is the fastest growing country followed by India and China. North America is the second largest growing region for the dairy alternatives over the forecasted period. Moreover, in North America U.S. is expected to be the fastest growing country followed by Mexico.
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