The global dairy alternatives market size is expected to reach USD 50.15 billion by 2028 according to a new study by Polaris Market Research. The report “Dairy Alternatives Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Almond, Coconut, Rice, Oats, Others); By Product; By Distribution Channel; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing people with lactose intolerance and a growing vegan population will mainly contribute to the alternatives industry growth. People becoming more health-conscious to avoid foods associated with obesity and heart diseases will also propel the growth of the industry. Lactose intolerance is increasingly prevalent among people globally, and around 65% of people suffer from some kind of food intolerance. Hence, these people must avoid dairy products and look for substitutes that will provide similar protein and vitamins.
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SunOpta Inc., Oatly, Danone, The Hain Celestial Group, Inc., DAIYA FOODS INC., Living Harvest Foods Inc., Melt Organic, Vitasoy International Holdings Limited, Earth’s Own Food Company Inc., The Whitewave Foods Company, ADM, Ripple Foods, Nutriops, S.L., Blue Diamond Growers, Freedom Foods Group Ltd., Eden Foods, Inc., Organic Valley Family of Farms and CP Kelco are some of the key players operating in the global alternatives industry.
Plant-based products such as almond milk and soy milk have lower calories compared to cow or buffalo milk. Hence, people prefer plant-based products to overcome obesity which is highly prevalent in the developed economies. People are also concerned about antibiotics, pesticides, and hormones present in the dairy product, an important cause for cancer, such as breast and endometrial cancer. Hence, they are avoiding milk products, which will help the products grow over the coming years.
COVID-19 pandemic is expected to positively influence the growth of the industry during the forecast period, as there is great demand for packaged items. Products such as packaged plant-based milk and beverages have more shelf life, and people are storing these products so that they don’t have to go out of their residencies frequently.
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Table of Contents
Dairy Alternatives Market Insights
Dairy Alternatives Market Assessment by Source
Global Dairy Alternatives Market, by Product
- Ice cream
Dairy Alternatives Market Assessment by Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retail
Dairy Alternatives Market Assessment by Geography
- North America (U.S., Canada)
- Europe (Austria, France, Germany, Italy, Netherlands, Spain, UK)
- Asia Pacific (China, India, Indonesia, Japan, Malaysia, Australia)
- Latin America (Argentina, Brazil, Mexico)
- Middle East & Africa (Israel, Saudi Arabia, South Africa, UAE)
List of Tables
Table 1 Global Dairy Alternatives Market, By Source, 2016 – 2028 (USD Million)
Table 2 Global Dairy Alternatives Market, By Product, 2016 – 2028 (USD Million)
Table 3 Global Dairy Alternatives Market, By Distribution Channel, 2016 – 2028 (USD Million)
List of Figures
Figure 1. Global Dairy Alternatives Market, By Source, 2016 – 2028 (USD Million)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Approach
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Other Studies Relevant to this industry: https://www.polarismarketresearch.com/industry/Food-and-Beverages
About Polaris Market Research
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