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Global Dairy Alternatives Market By Type (Almond Milk, Rice Milk, Others), By Distributing Channel (Online Stores, Supermarkets, Others), By Application (Yogurt, Ice-cream, Others), By Region– Forecast & Opportunities to 2026

The global dairy alternatives market accounted for a value of USD 15.2 billion in 2019. The global dairy alternatives market is projected to register growth at 14.5% during the forecast period.

COVID-19 has impacted all the businesses over the globe. Due to corona virus outbreak, the people are adopting healthy lifestyle to improve their immunity. People all across the world are shifting towards vegan diet due its immense benefits. Plant-based milk has been adopting by major economies across the globe as it improves health, energy and helps in weight management. Thus dairy alternative market is expected to witness growth due to COVID-19.

Definition:

The dairy alternatives products are defined as food & beverages that can be used in place of dairy products. Dairy alternatives are derived from plants. These products are considered to be very healthy dairy alternatives. They have essential vitamins, minerals, low fats, low cholesterol and zero concentration of lactose.

Market Dynamics (Drivers/Opportunities):

The plant based dairy alternatives offer various nutritional benefits such as improved cardiovascular health, reduced cholesterol and diabetes control. Because of these benefits, there is an increase in the consumption of these products. Thus, drives the market to witness growth during forecast period.

The awareness about benefits of dairy alternative products has been rising along with the benefits offered by vegan diet. The consumers are shifting themselves towards a vegan diet for a healthy lifestyle. Thus adoption of dairy products at large scale by huge crowd across the globe has driven the market for dairy alternatives to witness growth.

The diary alternatives improve health, provide energy, increase the palatability of food and helps in weight management. The vegan population has been growing rapidly across all major economies. Many manufactures has shifted to produce plant-based dairy products. Thus, gives a boost to dairy alternative market.

Market Insights, by Type

Based on type, the dairy alternatives market is segmented into almond milk, rice milk, soy milk and others. The soy milk segment is accounted for highest market share. The growth in this segment is attributed by the benefits of soy milk such as it is rich in potassium, vitamins, lower calorie content and protein. Thus, people are adopting this at large scale.

Almond milk segment is expected to register growth at highest CAGR during the forecast period. The people suffering from obesity and overweight prefer almond milk as it contains low calories compared to cow’s milk. It also helps in suppressing prostate cancer cells. Thus prefer by large number of people all over the world.

Market Insights, by Distributing Channels

On the basis of distribution channel, the dairy alternatives market is segmented into online stores, supermarkets, health food stores, convenience stress, pharmacies and others. The online stores segment is projected to register growth at highest CAGR during the forecast period. The use of online services has been increased immensely across the globe. The availability of various products at discounted rates in online stores drives the growth in this segment. The online stores have faster accessibility, cost-effectiveness and convenient than traditional stores. Hence, drives the growth in this segment of dairy alternatives during forecast period.

Market Insights, by Application

Based on application, the dairy alternatives market is segmented into creamers, milk, cheese, yogurt, ice-cream and others. The milk segment is estimated to witness growth at highest CAGR during forecast period. Health is top most priority of consumers when it comes to making choice for beverages.  Manufacturers have diversified their beverages with products containing soy milk, almond milk and coconut milk together with other non-dairy alternatives and ingredients. The dairy-free milk is popular because of increasing health concerns and lactose intolerance among people. All these factors together makes milk segment witness highest growth during forecast period.

Regional Insights

The Asia-Pacific market is estimated to register growth at highest CAGR during the forecast period. The factors driving growth are diet diversification, rapid urbanization and liberalization of foreign direct investment in the food sector in Asia-Pacific region. The rapid growth of middle-class population and rise in income of population in this region are also responsible for growth of dairy alternatives.

Key Companies & Market Share Insights

The key market players in dairy alternatives are Hain Celestial, White Wave Food, Blue Diamond Growers, Sanitarium, SunOpta, Freedom Foods Group Ltd., Ecomil, Eden Foods, Earth’s Own Food Company, Triballat Noyal, Valsoia S.P.A, Panos Brands, Dohler, Green Spot Co., Ripple Foods and Kite Hill.

Segments Covered in the Report

This report forecasts The Global Dairy Alternatives Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global dairy alternatives market report on the basis of product, distribution channel, and application.

Dairy Alternatives Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Dairy Alternatives Market, By Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Almond Milk
  • Rice Milk
  • Soy Milk
  • Others
  1. Dairy Alternatives Market, By Distributing Channels, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Online Stores
  • Supermarkets
  • Health Food Stores
  • Convenience Stress
  • Pharmacies
  • Others
  1. Dairy Alternatives Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Creamers
  • Milk
  • Cheese
  • Yogurt
  • Ice-cream
  • Others
  1. Dairy Alternatives Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Type
    • By Distributing Channels
    • By Application
    • By Country
      • USA
        • By Application
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Type
      • By Distributing Channels
      • By Application
      • By Country
        • Brazil
          • By Application
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Type
        • By Distributing Channels
        • By Application
        • By Country
          • UK
            • By Application
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Type
          • By Distributing Channels
          • By Application
          • By Country
            • China
              • By Application
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Type
            • By Distributing Channels
            • By Application
            • By Country
              • Saudi Arabia
                • By Application
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Kite Hill
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Hain Celestial
    • White Wave Food
    • Blue Diamond Growers
    • Sanitarium
    • SunOpta
    • Freedom Foods Group Ltd.
    • Ecomil
    • Eden Foods
    • Earth’s Own Food Company
    • Triballat Noyal
    • Valsoia S.P.A
    • Panos Brands
    • Dohler
    • Green Spot Co.
    • Ripple Foods
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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