1. Market Research
  2. > Agriculture
  3. > Agricultural Products Market Trends
Dairy Alternatives Market Analysis By Product, By Formulation, By Application And Segment Forecasts To 2024

Dairy Alternatives Market Analysis By Product, By Formulation, By Application And Segment Forecasts To 2024

  • August 2016
  • 87 pages
  • ID: 4144337
  • Format: PDF
  • By Grand View Research

Summary

Table of Contents

Dairy alternatives market is expected to reach USD 35.06 billion by 2024, according to a new report by Grand View Research, Inc. Dairy alternatives market is expected to witness significant growth over the projected period owing to rising consumer awareness towards health coupled with increasing number of lactose intolerance cases across various parts of the world. Increasing penetration of plant-based milk such as almond milk, soy milk and, coconut milk to replace cow milk is anticipated to propel demand.

Increasing consumer preference for lactose-free food products including cheese, desserts, and snacks are anticipated to drive demand. Rising consumer focus on the nutritional values offered by the product such as low calories and high proteins and vitamins is likely to have a positive impact on the industry. Furthermore, the shift of consumer base towards vegan diet owing to factors including animal rights and environment protection are anticipated to drive demand for dairy alternatives over the forecast period. However, high cost associated with these products as compared to dairy products is likely to hamper industry growth.

The global dairy alternatives market has numerous players, however, is dominated by a few including Danone, Vitasoy International, Sunopta, Earth’s Own Food, and Blue Diamond Growers. These companies are engaged in developing and launching innovative and new products to consolidate their presence in the industry. However, growing consumer demand and rising consumer preference for high-quality products with low costs are anticipated to open new avenues for the new players over the next eight years. The industry players are likely to establish and expand their business in the Asian Market in order to tap the increasing consumer demand associated with the changing lifestyle, growing population, rising disposable income and increasing number of lactose intolerance cases in the countries such as China, Australia, New Zealand, India, Japan, and Korea.

Further key findings from the report suggest:

Soy milk is the most common non-dairy item for consumption and anticipated to be the largest product segment of the market in 2015 accounting over 40% of the total market. Soy milk contains isoflavones compounds, which reduces the risk of breast cancer and heart diseases, which is likely to raise the popularity of the product, especially among women and elderly consumers.

Plain unsweetened formulation of the dairy milk alternatives is anticipated to account for a major share in the industry and is expected to grow at a CAGR of over 15% over the next eight years. Growing demand for unsweetened soy and almond milk for manufacturing various food items such as yogurt, desserts and cheese are anticipated to have a positive impact on the industry growth.

Beverage is expected to be a key application segment for the market. Growing demand for various nut based flavored milk products such as almond, cashew, and walnut is anticipated to open new avenues for the industry growth over the projected period.

U.S. is anticipated to be a key market for dairy alternatives and is anticipated to grow at a CAGR of over 10% from 2016 to 2024. Almond milk is anticipated to witness the fastest growth in the North American market owing to changing consumer preference from soy milk to almond milk products. Rising consumer demand for tasty and cholesterol free products in the region is anticipated to drive the almond milk industry growth over the forecast period.

Key players in the industry include CP Kelco, Blue Diamond Growers, Danone, The Hain Celestial Group, Inc., Sanitarium Health & Wellbeing Company, Freedom Foods Group Ltd., Nutriops S.L., Daiya Foods Inc., Archer Daniels Midland Company and The Whitewave Foods Company.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Organic Food Markets in China

Organic Food Markets in China

  • $ 4000
  • October 2019

China’s demand for Organic Food has grown at a fast pace in the past decade.In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which ...

Europe Hydroponics Market, By Origin, By Farming, By Type, By Crop Types, By Country, Competition, Forecast & Opportunities, 2024

Europe Hydroponics Market, By Origin, By Farming, By Type, By Crop Types, By Country, Competition, Forecast & Opportunities, 2024

  • $ 3950
  • October 2019

Europe Hydroponics Market, By Origin (Natural & Organics and Conventional), By Farming (Indoor & Outdoor), By Type (Aggregate Systems & Liquid Hydroponics System), By Crop Types (Vegetables, Fruits & Flowers), ...

Coconut Sugar Market, Size, Share, Outlook and Growth Opportunities 2019-2025

Coconut Sugar Market, Size, Share, Outlook and Growth Opportunities 2019-2025

  • $ 4580
  • September 2019

Coconut Sugar Market, Size, Share, Outlook and Growth Opportunities 2019-2025Coconut Sugar market outlook report presents key insights into global Coconut Sugar markets and companies with emphasis on market ...


ref:plp2016

Reportlinker.com © Copyright 2019. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on