Pune, India, Oct. 20, 2022 (GLOBE NEWSWIRE) -- MarketStudyReport recently added latest report, global dairy alternatives market share is anticipated to witness a CAGR of 10% over the forecast period to amass notable returns by the year 2028.
Additionally, it details how the key factors that have impacted the dynamics of the marketplace in terms of competitors as well as market revenues. The paper also addresses the impact COVID-19 has on business patterns during the assessment period.
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Rising consumption of dairy substitutes by people who are lactose intolerant and allergic to milk, as well as the shifting consumer preference toward plant-based foods as a result of environmental concerns are the major growth determinants of global dairy alternatives market.
For the uninitiated, dairy alternatives are food and drink items that, in terms of flavor, texture, and the nutritional advantages they provide, are comparable to some types of dairy-based goods. They are used to replace dairy-based products because they don't contain lactose, since lactose intolerance is very common among individuals.
Moreover, rising prevalence of lactose intolerance greatly increases consumer demand for dairy substitutes such as soy milk, rice milk, coconut milk, and others, which in turn propels the expansion of the industry.
On the contrary, the high cost of dairy substitutes and fluctuating prices of raw materials are some of the factors which may hinder market development in the coming years.
Market segment overview:
Based on source, worldwide dairy alternatives industry is divided into almond, soy, coconut, rice, oats, and others. Among these, the almond segment is slated to witness considerable growth over the forecast period.
In terms of product type, the market is branched into cheese, ice cream, yogurt, milk, and others. Of these, the milk segment is gaining traction at present and is poised to register notable expansion during the assessment timeline. Speaking of formulation, the industry is bifurcated into plain and flavored. On the basis of sales channel, the market is split into online and offline.
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Regional scope:
Regionally, the latest trends are studied across Western and Eastern Europe, Asia-Pacific, North America, Latin America, and the Middle East & Africa. Out of which, Asia Pacific region holds a considerable market share currently and is projected to expand substantially in the coming years.
Competitive dashboard:
Coming to competitive landscape, Valsoia S.p.A, Eden Foods, Inc., Arla Foods Inc., Living Harvest Foods Inc., Earth's Own Food Company Inc., Blue Diamond Growers, WhiteWave Foods Company, Vitasoy International Holdings Limited, CP Kelco US Inc., Oatly Group AB, Freedom Foods Group Limited, Daiya Foods Inc., Archer-Daniels-Midland Company, The Hain Celestial Group, Inc., and Cargill, Incorporated are the leading players in global dairy alternatives industry.
Global Dairy Alternatives Market, By Product Type (Value, USD, 2019-2028)
- Cheese
- Ice Cream
- Yogurt
- Others
Global Dairy Alternatives Market Growth, By Sales Channel (Value, USD, 2019-2028)
- Online
- Offline (Specialty Stores, Pharmacies, Convenience Store, Hypermarket & Supermarket.)
Global Dairy Alternatives Market, By Formulation (Value, USD, 2019-2028)
- Plain
- Flavored
Global Dairy Alternatives Market, By Source (Value, USD, 2019-2028)
- Coconut
- Soy
- Rice
- Oats
- Almonds
- Others
Global Dairy Alternatives Market, Geographical Fragmentation (Value, USD, 2019-2028)
North America
- U.S
- Canada
Latin America
- Mexico
- Brazil
- Rest of Latin America
Europe
- Poland
- Russia
- Nordic
- Benelux
- Italy
- France
- Spain
- UK
- Germany
- Rest of Europe
Asia Pacific
- Australia
- South Korea
- India
- China
- Japan
- ASEAN
- Rest of Asia Pacific
Middle East & Africa
- Turkey
- South Africa
- GCC
- Rest of MEA
Global Dairy Alternatives Market, Company Profiles (Value, USD, 2019-2028)
- Valsoia S.p.A
- Eden Foods, Inc.
- Arla Foods Inc.
- Living Harvest Foods Inc.
- Earth's Own Food Company Inc.
- Blue Diamond Growers
- WhiteWave Foods Company
- Vitasoy International Holdings Limited
- CP Kelco US Inc.
- Oatly Group AB
- Freedom Foods Group Limited
- Daiya Foods Inc.
- Archer-Daniels-Midland Company
- The Hain Celestial Group, Inc.
- Cargill, Incorporated
Table of Contents:
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-Side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players' expenditures, economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.3.1. Raw Material Suppliers
6.3.2. Product Manufacturers
6.3.3. Key End Users
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter's Five Forces Analysis
7. Government Laws and Industry Regulations
8. Global and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities
9. Pricing Analysis
9.1. By Product Type
9.1.1. Milk
9.1.2. Yogurt
9.1.3. Ice Cream
9.1.4. Cheese
9.1.5. Others (Creamers etc.)
9.2. By Formulation
9.2.1. Flavored
9.2.2. Plain
9.3. By Region
9.3.1. North America
9.3.2. Europe (Western and Eastern)
9.3.3. Asia Pacific
9.3.4. Latin America
9.3.5. Middle East & Africa
10. Parent Market Overview: Global Dairy Market
11. Segmental Analysis
11.1. Global Dairy Alternatives Market by Source
11.1.1. Segment Overview
11.1.1.1. Soy
11.1.1.2. Almond
11.1.1.3. Oats
11.1.1.4. Rice
11.1.1.5. Coconut
11.1.1.6. Others (Hemp, Cashew, etc.)
11.2. Global Dairy Alternatives Market by Product Type
11.2.1. Segment Overview
11.2.1.1. Milk
11.2.1.2. Yogurt
11.2.1.3. Ice Cream
11.2.1.4. Cheese
11.2.1.5. Others (Creamers etc.)
11.3. Global Dairy Alternatives Market by Formulation
11.3.1. Segment Overview
11.3.1.1. Flavored
11.3.1.2. Plain
11.4. Global Dairy Alternatives Market by Sales Channel
11.4.1. Segment Overview
11.4.1.1. Offline
11.4.1.1.1. Supermarkets and Hypermarkets
11.4.1.1.2. Convenience Stores
11.4.1.1.3. Pharmacies
11.4.1.1.4. Specialty Stores
11.4.1.2. Online
11.5. Global Dairy Alternatives Market by Region
11.5.1. North America
11.5.2. Latin America
11.5.3. Western Europe
11.5.4. Eastern Europe
11.5.5. Asia Pacific
11.5.6. Middle East & Africa
12. Regional Analysis
Related Report:
Global Dairy Ingredient Market 2022-2028
The global dairy ingredient market size is projected to grow by USD 39 billion from 2022 to 2028, registering a CAGR of 3.7 percent, according to a new report. The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global dairy ingredient market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the dairy ingredient industry. This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, application, and region. The global market for dairy ingredient can be segmented by product: anhydrous milkfat, blends, butter, buttermilk powder, casein and caseinates, cheese and derivatives, cream powder, lactose and derivatives, milk powder, milk protein concentrates and milk protein isolates, whey powder, others. Dairy ingredient market is further segmented by application: bakery and confectionery, infant milk formula, processed foods, sports and clinical nutrition, others. Based on region, the dairy ingredient market is segmented into: North America, Europe, Asia-Pacific, Rest of the World.
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