Dairy Alternative Market Potential Growth, Size, Share, Demand and Analysis of Key Players

 

Market Overview

Dairy alternative products are substitutes for cow’s milk, which are processed from cereals, nuts, and seeds of certain plants. This food group is a vital part of a healthy and balanced diet as they are good sources of calcium, protein, and vitamins, which are necessary for normal bone growth and tooth development. The dairy alternatives can be used as milk in cooking and baking. Demand for dairy alternatives is driven by the low-fat content and low cholesterol concentration in it. Increase in obese and vegan population and rising health awareness among public globally are expected to propel the market growth.

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Market Dynamics

In Asia Pacific, increase in number of dairy-allergic consumers is expected to boost the revenue of the dairy alternatives market. Increasing demand for lactose-free food products and consumer preference toward nutritional food are also projected to fuel the market growth. The nutritional value of animal milk is same as that of plant-based milk.

In addition to lactose-free, dairy alternatives are also sources of amino acids, fibers, and vitamin B, which are essential for human body, hence dairy alternatives market is expected to witness an exponential growth over the forecast period.

With dietary diversification and high investments in R&D, the manufacturers are focusing on innovations to expand their portfolio and to achieve a competitive edge. In December 2016, Organic Valley, one of the leading companies of dairy alternatives products made headlines for expanding its production in Mid-Atlantic. In April 2017, a successful entrepreneur, Adam Lowry teamed up with chemical engineers and launched first yellow pea-based milk, Ripple, which claims to have more protein as compared to almond milk.

Dairy Alternative Market Taxonomy

On the basis of source, the global market is classified as:

  • Almond Milk

    Soy Milk

    Rice Milk

    Oat Milk

    Coconut Milk

    Others

On the basis of formulation type, the global market is classified into:

  • Plain Sweetened

    Flavor Sweetened

    Plain Unsweetened

    Flavor Unsweetened

    Others

Some of the key players in the global dairy alternatives market includes The Whitewave Foods Company, SunOpta, Hain Celestial, Pascual Group, Elden’s Fresh Foods & Media Solutions Corp., Healthy Brands Collective, Earth’s Own Food Company Inc., Blue Diamond Growers, Freedom Foods Group, Oatly AB, Stremick’s Heritage Foods, and Vitasoy Holdings Limited.

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