Global Dairy Alternatives Market Report 2022: Size, Forecast, Industry Trends, Growth, COVID-19 Impacts, Competitive Landscape 2021-2027 – ResearchAndMarkets.com

Dublin – (working wire) – “Dairy Alternatives Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis” report was added to ResearchAndMarkets.com Show.

The global dairy substitute market is expected to reach USD 42.26 Billion by 2027, from USD 22.01 Billion by 2021, at a CAGR of 11.49% during the period 2021-20278

The products and drinks that can be used as dairy substitutes are dairy substitutes. These are made from plants and are believed to be a healthy alternative to dairy products. Moreover, several essential vitamins and minerals make these alternatives healthy. It is also low in fat and cholesterol and contains no lactose.

Likewise, most of the people around the world are switching from dairy products to dairy-free products because they are becoming more aware that dairy-free diets can help with several issues such as digestive pain, failure to lose weight, acne, and irritable bowel syndrome.

Dairy alternatives have been more prevalent in both developed and developing markets around the world. This is due to the increase in the number of people who are allergic to dairy products. Moreover, the increasing health awareness and disposable income has also fueled the expansion of the dairy alternatives industry.

Moreover, the introduction of health supplement ingredients by various market participants is one of the major reasons driving the growth of the market. However, the primary limitations of this industry are the volatility of raw material prices and the high costs. On the contrary, the market for dairy alternatives is expected to develop due to the increase in vegan demand for dairy alternatives and the launch of new flavors and types of dairy alternatives.

COVID-19 is boosting the global dairy alternative industry

The COVID-19 crisis has had major consequences for the market. Changing consumer buying behavior due to increased health awareness; Customers prefer lactose-free foods because of the many health benefits associated with them.

In addition, due to the closure of retail stores due to regulations around the world, manufacturers of vegan products have seen a significant growth of these products through e-commerce websites rather than retail stores. During the first quarter of fiscal 2021, Danone SA, a major participant in this market, saw sales increase by 2.9%.

Beverage segment will lead due to favorable demand dynamics

According to our analysis, the beverage category is dominating the global market due to favorable demand dynamics, growing interest among major industry players, and excellent development potential of vegan beverages.

Moreover, the wide availability of soy milk in the Asia Pacific market, particularly in China, has been a clear leader in terms of beverages. However, almond milk will outperform all other dairy alternatives in terms of growth. It is quickly gaining traction among consumers who avoid soy-containing goods due to allergies or other health issues.

However, food segments such as ice cream, yogurt, cheese and creamers also show their popularity among consumers in all age groups.

It is remarkable that the food sector is developing rapidly in offerings and claims of its products, i.e. non-dairy, vegetarian, vegan and natural products, which are of great interest to consumers. Moreover, the appeal of vegan food has transcended vegan consumers, along with disguised vegan label claims offering offers such as healthy indulgence among consumers.

By analyzing the distribution channel supermarkets / hypermarkets to control

With supermarkets and hypermarkets enjoying proximity, accessibility, and affordability, they are likely to hold the most significant market share due to their unique product offerings.

There is a premium stocking shelf for vegan and vegetarian items and attractive discounts to entice consumers and improve adoption rates. Vegan commodities are becoming increasingly distinctive. They are undergoing a massive transformation from their traditional reputation as a substitute for meat or dairy products. These products have turned to convenience, and customers find them easy to store, prepare, and consume.

Online retail is expected to expand faster in the dairy alternatives market during the forecast period owing to greater convenience, enhanced shopping experience and increasing rates of digital literacy.

By region, Asia Pacific is the fastest growing market

The dairy alternative industry is expanding at the fastest rate in the Asia Pacific region. The increasing number of people who are lactose intolerant in this region is driving the demand for dairy alternatives. In addition, the health and wellness trend in the Asia-Pacific region has brought the issue of food intolerances and allergies to the forefront of thoughts of modern consumers, driving an increased demand for dairy alternatives.

Soybean-based alternatives are generally accepted in this region, which has led to the creation of companies such as Vitasoy International Holding, which offers a variety of soybean-based products.

Furthermore, plant protein consumers in the asia pacific region have adopted a dairy-free diet to improve their health and well-being. Vegan diets can help prevent obesity, stroke, and heart disease, reduce cholesterol and arthritis pain, lower blood sugar, increase energy, and improve mental clarity.

The main players

The global dairy alternatives market is moderately consolidating, with Danone, Hein Group Celestial, Sun Opta, Blue Diamond Groz Inc., Vitasoy International Holdings Limited, Aately, Numi Limited and Kikkoman having a significant presence.

These large companies are also aggressively seeking acquisitions and mergers to strengthen their positions and make a radical change to protect their future growth in light of the declining attractiveness of dairy products.

Moreover, the competitive intensity of this industry is expected to increase in the coming years if world-renowned companies discover and offer nutritionally suitable, environmentally sound, affordable and acceptable alternatives. At the same time, they are constantly trying to keep up with market trends in dairy alternatives to develop new commodities.

The main players

  • Danone

  • Hen Heavenly Group

  • SunOpta

  • Blue Diamond Growers Inc

  • Vitasoy International Holdings Limited

  • Oats

  • Nomi Ltd

  • Kikkoman

Main topics covered:

1 Introduction

2. Research and methodology

3. Executive summary

4. Market dynamics

4.1 Growth drivers

4.2 Challenge

5. The market for dairy alternatives

6. Market Share – Dairy Alternative Analysis

6.1 By section

6.1.1 By food

6.1.2 By means of drinks

6.2 By distribution channel

6.3 by region

7. Maqtaa – Alternative market for dairy products

7.1 Food

7.1.1 Ice cream

7.1.2 Yogurt

7.1.3 Cheese

7.1.4 Candida

7.1.5 Other

7.2 Beverages

7.2.1 I milk

7.2.2 Almond milk

7.2.3 Rice milk

7.2.4 Coconut milk

7.2.5 Other

8. Distribution Channel – Alternative market for dairy products

8.1 Supermarkets and hypermarkets

8.2 Convenience Stores

8.3 Other Store-Based Distribution Channel

8.4 Not dependent on the store

9. Region – Dairy Alternative Market

9.1 North America

9.2 Asia and the Pacific

9.3 Europe

9.4 Rest of the world

10. Key Players Analysis

10.1 Business Overview

10.2 Recent Developments

10.3 Sales Analysis

For more information on this report, visit https://www.researchandmarkets.com/r/60xpvb

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