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The global dairy alternatives market size is expected to reach $50.15 billion by 2028
Increasing people with lactose intolerance and a growing vegan population will mainly contribute to the alternatives industry growth. People becoming more health-conscious to avoid foods associated with obesity and heart diseases will also propel the growth of the industry.
Lactose intolerance is increasingly prevalent among people globally, and around 65% of people suffer from some kind of food intolerance. Hence, these people must avoid dairy products and look for substitutes that will provide similar protein and vitamins.
Plant-based products such as almond milk and soy milk have lower calories compared to cow or buffalo milk. Hence, people prefer plant-based products to overcome obesity which is highly prevalent in the developed economies.
People are also concerned about antibiotics, pesticides, and hormones present in the dairy product, an important cause for cancer, such as breast and endometrial cancer. Hence, they are avoiding milk products, which will help the products grow over the coming years.
COVID-19 pandemic is expected to positively influence the growth of the industry during the forecast period, as there is great demand for packaged items.
Products such as packaged plant-based milk and beverages have more shelf life, and people are storing these products so that they don’t have to go out of their residencies frequently.
Some of the key players are
- SunOpta Inc.
- The Hain Celestial Group Inc.
- DAIYA FOODS INC.
- Living Harvest Foods Inc.
- Melt Organic
- Vitasoy International Holdings Limited
- Freedom Foods Group
- Earth’s Own Food Company
- The Whitewave Foods Company
- Ripple Foods
- Blue Diamond Growers
- Eden Foods Inc.
- Organic Valley Family of Farms
- CP Kelco
Key Topics Covered:
2. Executive Summary
3. Research Methodology
4. Dairy Alternatives Market Insights
4.1. Dairy Alternatives – Industry snapshot
4.2. Dairy Alternatives Market Dynamics
4.2.1. Drivers and Opportunities
220.127.116.11. Changing eating patterns
18.104.22.168. Innovations in the dairy processing industry
4.2.2. Restraints and Challenges
22.214.171.124. Low awareness among consumers
4.3. Porter’s Five Forces Analysis
4.4. PESTLE Analysis
4.5. Dairy Alternatives Market Industry trends
4.6. COVID-19 Impact Analysis
5. Dairy Alternatives Market Assessment by Source
5.1. Key Findings
5.2.1. Global Dairy Alternatives Market, By Source, 2016 – 2028 (USD Million)
6. Global Dairy Alternatives Market, by Product
6.1. Key Findings
6.2.1. Global Dairy Alternatives Market, By Product, 2016 – 2028 (USD Million)
6.5. Ice Cream
7. Dairy Alternatives Market Assessment by Distribution Channel
7.1. Key Findings
7.2.1. Global Dairy Alternatives Market, By Distribution Channel, 2016 – 2028 (USD Million)
7.3. Supermarkets & Hypermarkets
7.4. Convenience Stores
7.5. Online Retail
8. Dairy Alternatives Market Assessment by Geography
8.1. Key findings
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
10. Company Profiles
10.1. Company Overview
10.2. Financial Performance
10.3. Product Benchmarking
10.4. Recent Development
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