Dairy alternative beverages, such as almond milk and soy milk, are plant-based beverages that are produced from almonds, cashew, soy, hemp, or coconut. These beverages have wide application in food & beverages industry for making vegan products such as vegan ice cream, desserts, and yoghurt. They are easily available in the market through supermarkets, online, and retail stores.
Consumer preference for flexitarian diet has significantly driven the growth of the market for dairy alternative beverages. In addition, increase in consumer awareness about the health benefits related with lactose-free beverages, such as soy milk, fuels the market growth. Moreover, consumers are limiting their consumption of dairy products due to health concerns, which boosts the growth of the market. However, high cost of dairy alternate beverages limits the market growth. On the contrary, promotion of animal welfare & environmental awareness inspire consumers to look for plant-based alternatives, which is anticipated to offer lucrative opportunities for the market expansion in the near future.
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The global dairy alternative beverages market is segmented into product, form, application, distribution channel, and region. By product, the market is divided into almond milk, soy milk, oats milk, coconut milk, cashew milk, and others (rice and hemp milk). Depending on type, it is categorized into unflavored and flavored. As per form, it is bifurcated into powdered and liquid form. The applications covered in the study include ice creams, desserts cheese, yoghurt, and other. According to distribution channel, the market is segregated into supermarkets/hypermarkets, specialty stores, grocery stores, online stores, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the prominent players operating in the global dairy alternative beverages market include Vitasoy Australia, Alpro (Alpro (UK) Ltd., the Hain Celestial Group, NOW Foods, Pacific Foods of Oregon, LLC, White Wave Foods Company (So Delicious Dairy Free), Hershey India Private Ltd., Blue Diamond Growers, Holista Tranzworld Limited, and Bio Nutrients (India) Pvt. Ltd.
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KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global dairy alternatives beverage market from 2018 to 2026 to identify the prevailing market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry.
- The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
- The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
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