Selbyville, Delaware, Nov. 10, 2021 (GLOBE NEWSWIRE) --
The dairy alternatives market value is projected to cross USD 45 billion by 2027, according to a new research report by Global Market Insights Inc. Steady growth of food industry along with growing consumption of low calorie and nutritional products to drive the market growth.
Soy product segment exceeded USD 9 billion in 2020. Soy-based products are widely used as a primary ingredient in dairy-free products owing to benefits including the ability to maintain cardiac health, improve metabolism, and help in healthy weight gain. Moreover, increasing demand for soy drinks and soy milk majorly in South Asian and European countries is one of the prominent reasons for market expansion.
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Dairy alternatives market from snacks application is anticipated to grow at a CAGR of over 10% between 2016 to 2027. Emergence of healthier variants of snacks containing cereals, nuts, and natural sweeteners is anticipated to trigger the demand for dairy-free snacking products. Factors such as ready availability, flavor innovations, varied taste preferences, and growth in imports & exports are driving the product demand.
Some major findings of the dairy alternatives market report include:
- Increasing health awareness and requirement for nutritional products has boosted the demand for diary alternative products.
- Almond product segment is projected to grow at a CAGR of over 7.5% through 2027 driven by growing demand for almond ingredients in plant milk, desserts, and snacks owing to its potential health benefits.
- Online stores segment is set witness a significant CAGR owing to premium and high convenience in the availability of product variants.
- Some of the key industry players operating in the market are Danone, Blue Diamond Growers, Valsoia S.P.A, Hain Celestial Group, Freedom Foods, Pacific Foods, and Sun Opta.
- Beverages application segment is set to register around 10% CAGR between 2021 and 2027 and the sector is further anticipated to witness significant gains due to increasing demand for flavored and fortified health drinks.
- North America region acquired significant share in the global market driven by rising consumption of bakery & confectionery products in the region.
Browse key industry insights spread across 1164 pages with 2325 market data tables & 14 figures & charts from the report, “Dairy Alternatives Market Outlook By Product (Almond, Soy, Coconut, Oat, Rice, Hemp), Application (Food {Cheese, Desserts, Snacks}, Beverages), Formulation (Sweetened, Unsweetened), Sales Channel (Mainstream Stores, Specialty Stores, Online Stores), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/dairy-alternatives-market
Dairy alternatives market from unsweetened segment is projected to record around 9.5% between 2021 and 2027. Increasing health consciousness consumer base supported awareness regarding benefits of unsweetened products, particularly in North America and European countries will fuel product penetration rate. Furthermore, health advantages owing to low-calorie content along with enhanced smoothness offered by the product will support the segment growth.
Dairy alternatives market from specialty stores holds a major share in 2020. Arrival of COVID-19 pandemic has significantly contributed to enhanced sales through specialty stores in emerging economies such as China, Brazil, India, South Africa, Mexico, Indonesia, etc. The growing vegetarian and vegan population motivated by animal welfare concerns are actively choosing plant-based beverage products.
The Europe dairy alternative market holds a substantial share of over 14% in 2020. Growing mainstream stores, specialty stores, and online stores showcasing non-dairy beverages under private labels in the region will instigate regional market size. Moreover, growing vegan population in the region has urged the key industry players to develop innovative plant-based derivatives to fuel the regional industry outlook.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/dairy-alternatives-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
