Dairy Alternative Market by Source, Application - Industry Overview

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Dairy Alternative Market
Global Opportunity Analysis and Industry
Forecast, 2014 - 2022
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Introduction To Dairy Alternative Market
According to a new report published by Allied
Market Research, titled, "Dairy Alternative
Market - Global Opportunity Analysis and Industry
Forecast, 2014 - 2022",the global dairy
alternative market is expected to garner 21.7
billion by 2022, growing at a CAGR of 13.3
during 2016-2022. Asia-Pacific generated the
highest revenue of 4.0 billion in 2015, followed
by North America. Asia-Pacific would continue to
dominate the overall market throughout the
forecast period owing to the increase in demand
from countries such as China and India. Read
more about this report at https//www.alliedmarke
tresearch.com/dairy-alternative-market
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Key Findings Of Dairy Alternative Market

• Asia-Pacific would remain the largest revenue
  generating region throughout the analysis period.
• Almond milk segment is expected to be the fastest
  growing market during 2016-2022.
• In 2015, soy milk segment was the highest
  revenue-generating segment in the global dairy
  alternative market, followed by the almond milk
  segment.
• Market for dairy alternative products prepared
  from other sources such as coconut, cashew nut,
  oat and others would witness attractive growth
  during the forecast period.

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Dairy Alternative Market Dynamics

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Dairy Alternative Market Segments

1. The segmentations by source include soy milk,
   almond milk, rice milk, and other dairy
   alternative sources. Soy milk accounted for the
   maximum market share of 53.2 in 2015, because of
   its extensive usage in refreshment drinks.
   Popularity of beverages formulated by the
   combination of soy beverages and fruit drinks has
   increased in countries such as China. 
2. Beverage is anticipated to be the faster growing
   segment compared to food. Beverages such as milk
   shake, energy drink, fruit mixed drinks, and
   others, prepared from soy, almond, coconut and
   other dairy alternative sources, are increasingly
   becoming popular. Food is further categorized
   into spread, creamer, yogurt, tofu and others.
   Spread segment is expected to gain maximum growth
   during the forecast period 2016-2022, as these
   spreads have lower level of saturated fats,
   compared to dairy spreads. 
3. The segment by distribution channel includes
   large retail, small retail, specialty store, and
   online. Large retail accounted for the largest
   market share of around 55 in 2015, followed by
   specialty store. The online segment is
   anticipated to be the fastest growing, owing to
   the availability of a wide variety of products in
   different tastes, flavors and formulations at
   discounted prices and the growing popularity of
   online shopping.
4. Asia-Pacific is projected to be the fastest
   growing region throughout the analysis period
   2016-2022. China, being dominant in the
   Asia-Pacific especially contributes to the soy
   milk market share. The popularity has increased
   due to increasing usage of soy milk as
   refreshment drink.

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Dairy Alternative Market Key Segments

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Dairy Alternative Market By Source

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Dairy Alternative Market By Application

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Dairy Alternative Market By Distribution Channel

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Dairy Alternative Market By Geography

  North America, Europe, Asia Pacific, LAMEA
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Key Players

• Acquisition is one of the most widely adopted key
  growth strategies by existing market players to
  increase their market share. For instance,
  companies such as WhiteWave Foods Company of the
  U.S. and SunOpta Inc., of Canada made several
  acquisitions to extend their product line. The
  key companies profiled in the report include 
• WhiteWave Foods Company (U.S.)
• Blue Diamond Growers (U.S.)
• SunOpta Inc.(Canada)
• Earths Own Food Company Inc.(Canada)
• Living Harvest Foods Inc. (U.S.)
• Hain Celestial Group, Inc.(U.S.)
• Organic Valley Family of Farms (U.S.)
• Panos Brands LLC (U.S.)
• Pascual Group (Spain)
• Eden Foods Inc. (U.S)

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Increase in obese population and rising demand
for chemical-free, plant based milk products are
the major factors boosting the dairy alternative
market. Higher cost compared to conventional
milk/milk based products and prominence of
low-cholesterol, and low-fat conventional
milk/milk based products have emerged to be major
challenges for the players operating in the
market. Chandradeep Singh
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