According to the report “Dairy Alternative (Beverage) Market By Type (Almond, Soy, Coconut, Cashew, Oat, Others); By Formulation (Plain, Flavored, Sweetened, Non-Sweetened); By Channel (Super Markets, Health Food Stores, Convenience Stores, Pharmacies, Others); By Shelf Life (Refrigerated, Shelf Life Stable) – Forecast (2016 – 2021), published by IndustryARC, the market to reach $14,509 Million by 2021 at a high CAGR.
Browse 7 Market Tables, 52 Figures spread through 160 Pages and an in-depth TOC on “Dairy Alternative (Beverage) Market (2016 – 2021)”.
Dairy alternative beverages are plant based milk extracted from grains, nuts and seeds. Unlike the regular dairy beverages they have low cholesterol and low fat content. As dairy alternative beverages are plant based, it contains low cholesterol levels. The market for dairy alternative beverage is segmented into various types such as almond milk, soy milk, oat milk, cashewnut milk, coconut milk and others. Dairy alternative beverages are distributed through channels such as super markets, convenience stores, health food stores, pharmacies and others. These are available in different formulations including plain, flavored, sweetened and non-sweetened.
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Consumers who are allergic to milk or lactose intolerant are major consumers of dairy alternative beverages. Rice milk is generally preferred by the consumers suffering with intolerances like lactose, nut, soy, and so on. Rice milk is estimated to grow at a CAGR of 8.9% during 2016-2021. The market has witnessed products from new sources like quinoa, flaxseed and so on. Apart from this trend, as consumers are seeking for variety of flavors in one serving, manufacturers have been developing and launching mixed flavored products and dairy alternative blends.
Asia-Pacific is the dominant market for dairy alternative (beverage) and is estimated to reach $7,452m by 2021 at a CAGR of 8.3% during 2016-2021. With rising demand of organic and natural dairy alternatives this market is estimated to witness a brisk growth in coming five years.
The major players in dairy alternative market include:
- WhiteWave Foods Company (U.S.)
- Blue Diamond Growers (U.S.)
- Vitasoy International (Hong Kong)
- Sunopta (Canada)
- Earth’s Own Food (Canada)
Dairy alternatives (beverage) providers are investing in developing and launching product extensions to consolidate their market presence. Top five players account for approximately 39% of the total market. However, emerging companies have been offering products with enhanced functionalities which may impact the market position of these top companies.
The global dairy alternative (beverage) market report provides detailed analysis of the different types of alternatives, formulation, channel and shelf life segments.
Various types of alternatives included in the report are:
The overall market is also presented from the perspective of different geographic regions and the key countries in each region.
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