Global Dairy Alternative Market: Overview
Dairy alternative beverages are referred to the plant based milk, which is processed from cereals, seeds, or nuts. Because of the low cholesterol concentration and fat content in dairy alternative beverages, their demand is increasing at a rapid pace around the world. The global dairy alternative market is also gaining from the rising health awareness among consumers.
Global Dairy Alternative Market: Trends and Opportunities
As people around the world become more aware about their health, the demand for milk or diary alternatives is expected to increase at a fast pace. This will provide significant impetus to the global dairy alternative market around the world. Shifting focus of consumers towards vegan diet and vegan lifestyle due to factors such an animal rights campaigns and environment protection will also help the market rake high profits through the forecast period. In addition, the rising disposable income of consumers will help the market gain increased momentum in the forthcoming years.
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On the flip side, cross contamination of raw materials could hinder the market’s trajectory in the near future. In addition, the high price of dairy alternative beverages also limits the scope for the sales of dairy alternatives to an extent.
Nevertheless, with the rising incidence of lactose intolerance and dairy allergies will create opportunities for the market in the near future.
Global Dairy Alternative Market: Competitive Landscape
In order to study the market’s vendor landscape, the report profiles some of the leading companies operating therein. These enterprises are Eden Foods Inc., Earth’s Own Food Company Inc., The Whitewave Foods Company, Organic Valley Family of Farms, Panos Brands LLC, Living Harvest Foods Inc., Grupo Le Pascual Sa, The Bridge S.R.L., The Hein Celestial Group Inc., Blue Diamond Growers Inc., Sunopta Inc., and OATLY A.B.
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Global Dairy Alternative Market: Regional Outlook
Regionally, the global dairy alternative market has been segmented into Europe, Asia Pacific, North America, and Rest of the World. Among the regions Asia Pacific has been exhibiting highly attractive market opportunities. With the degree of health awareness among consumers in Asia Pacific rising at a fast pace, sooner than expected the region will showcase the highest demand for dairy alternatives. Besides this, the increasing population and the rising willingness among consumers to spend on health products are expected to boost the demand for dairy alternatives further in Asia Pacific.
The market also witnesses lucrative opportunities in North America, which Europe holds the position of the third-largest regional market in the global dairy alternatives market. The demand from both these regions is expected to grow at a rapid pace during the course of the forecast period.