Global Dairy Alternative Market is Estimated to Reach $28,745 Million by 2025, Says Accurize Market Research
Global Dairy Alternative Market report published by Accurize Market Research forecast that the global market is expected to reach $28,745 million by 2025; growing at a CAGR of 13.1% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Nutritional benefits such as low cholesterol content, great protein content, and rising consumer preference for a vegan dietto drive the growth of the market
Nutritional benefits such as low cholesterol content, great protein content, and rising consumer preference for a vegan diet fuels the demand for the global dairy alternative market. Furthermore, rising number of dairy allergic and lactose intolerant shoppers also boosts the growth of the market.
The global dairy alternative market has been bifurcated on the basis of source, application, distribution channel, and geography. On the basis of source, the classification includes almond milk, soy milk, rice milk, and other sources.The application segment can be sub-segmented into food (yogurt, creamer, spread, tofu, and other foods), and beverages. Also, on the basis of distribution channel the segmentation is given as large retail, small retail, specialty store, and online.
By geography the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
“Soy milk accounted for the largest market sharein source segment”, says Accurize
In the source segment, soy milk accounted for more than half of the total market share in 2017and is estimated to continue its dominance during the forecast period. The high growth of the soy milk can be attributed to the excess of varieties, in terms of flavors, fat content, blends, and formulations
Beverages, in the application segment, occupied the maximum market share accounting for more than two third of the total market share, and is likely to achieve the fastest CAGR throughout the forecast period 2017 – 2025.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific dominated the market with 43% market share in 2017, owing to increasing consumer demand for lactose free food products as well as richness of soy-based dairy-free products. Moreover, Asia-Pacific is also anticipated to reach the fastest CAGR during the forecast period, due to increasing population and rise in the disposable income of the consumers.
Top players in the market
The key market players include Hain Celestial Group Inc., Blue Diamond Growers, Organic Valley, Eden Foods, Inc., Hudson River Foods, WhiteWave Foods Company, SunOpta Inc., Earth's Own Food Company Inc., BRIDGE S.R.L and Döhler GmbH, among others.
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