The global dairy alternatives market reached a value of US$ 16.5 Billion in 2019 and is expected to reach a value of US$ 38.2 Billion by 2025, growing at a CAGR of 15 % during 2020-2025. Dairy alternatives refer to various food and beverages that are used as a substitute for animal-derived milk and milk-based products. These products are derived from plant-based sources, such as nuts and seeds and are a rich source of essential nutrients, such as calcium, vitamins, minerals, iron, potassium and magnesium. They also have minimal levels of fat and calories and are usually consumed by individuals suffering from lactose intolerance. Rice, coconut, cashew, oat, almond and soymilk are the commonly available dairy alternatives. They aid in weight management, maintaining a healthy nervous system, red blood cell (RBC) levels and brain functioning.
Global Dairy Alternatives Market Growth Drivers:
The increasing prevalence of chronic medical ailments, such as diabetes, cardiovascular (CVD) and gastrointestinal diseases, along with the growing number of people with lactose intolerance, is one of the key factors driving the growth of the market. Rising awareness regarding the benefits of consuming dairy alternatives is projected to drive the dairy alternatives market further. In comparison to the traditionally used dairy products, these alternatives are easily digested and do not cause painful bloating and other gastric problems. Additionally, the emerging trend of veganism across the globe and various technological advancements in the production processes of these products, are also contributing to the market growth. For instance, manufacturers are utilizing ultra-high temperature (UHT) processing and enzymatic liquefaction processes to enhance the yield and nutritional content of the products. Other factors, including the availability of various sweetened, flavored and unsweetened variants, aggressive promotional activities by the manufacturers and rapid urbanization across the globe, are expected to drive the global dairy alternatives market in the upcoming years.
Key Market Segmentation
IMARC Group provides an analysis of the key trends in each sub-segment of the global dairy alternatives market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on source, formulation, nutrient, distribution channel, product type and region.
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The competitive landscape of the industry has also been examined with some of the key players being Blue Diamond Growers, Döhler GmbH, Earth’s Own Food Company, Eden Foods, Freedom Foods Group, Nutriops S.L., Organic Valley, Panos Brands, Sanitarium Health and Wellbeing Company, SunOpta Inc., The Hain Celestial, The Whitewave Foods Company, Triballat Noyal, Valsoia SpA., etc.
Key Questions Answered in This Report:
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