Dairy Alternatives Market Worth $29.6 Billion by 2023 - Exclusive Report by MarketsandMarkets™

CHICAGO, January 16, 2019 /PRNewswire/ --

According to the new market research report "Dairy Alternatives Market  by Source (Soy, Almond, Coconut, Rice, Oats, Hemp), Application (Milk, Cheese, Yogurt, Ice Creams, Creamers), Distribution Channel (Supermarkets, Health Stores, Pharmacies), Formulation and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Dairy Alternatives Market is projected to grow from USD 17.3 billion in 2018 to USD 29.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period. The major factors driving the dairy alternatives market include consumers perceiving a vegan diet to be healthy. These consumers prefer consuming dairy alternatives such as soy milk, almond milk, rice milk, and other plant-based milk as a substitute for dairy milk. Further, increasing cases of lactose intolerance and milk allergies among individuals promote the consumption of dairy alternatives globally and is expected to drive the market.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Inquire Before Buying: 

https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=677

The almond segment is projected to grow at the highest CAGR in the global dairy alternatives market during the forecast period. 

The dairy alternatives market has been segmented, on the basis of source, into soy, almond, coconut, rice, oat, hemp and others (cashew and hazelnut). The market for almond-based products witnesses a significant demand in the dairy alternatives market due to the various benefits they offer. These benefits include high nutritional content, easy availability of raw materials, and increased popularity of consumption. Almond-based dairy alternatives are also beneficial for calorie-conscious individuals, as it is free from cholesterol and saturated fats and are available in varieties ranging from plain sweetened, plain unsweetened, and flavored-sweetened to flavored unsweetened.

Browse in-depth TOC on "Dairy Alternatives Market"

88 - Tables
41 - Figures
188 - Pages 

The ice creams segment, by application, is projected to grow at the highest rate during the forecast period. 

The dairy alternatives market has been segmented, on the basis of application, into milk, ice creams, yogurt, cheese, creamers, and others. Yogurt is the fastest-growing segment for dairy alternatives. With the rise in awareness among consumers and the demand for new varieties and alternatives, the market for dairy-free yogurts is expected to grow. The growing market for dairy-free yogurts is opening up new opportunities for applications in the dairy alternatives market. Dairy yogurt alternatives available in the market are cholesterol-free, are fortified with calcium and vitamin D, and function as a healthy replacement for dairy yogurts for vegans and lactose-intolerant consumers.

Get 10% Free Customization on this Report: 

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=677

Asia Pacific is projected to hold the largest market share during the forecast period. 

Asia Pacific is estimated to account for the largest share of the market in 2018. The market in the region is driven by higher economic power among consumers and increase in the consumption of soymilk, which is cheap and abundant in this region. Food manufacturers have been launching varied soymilk forms to meet the increasing consumer demand for healthy beverages and pasteurized soymilk as dairy alternatives and provide unique flavors of soy drinks.

Furthermore, with busy lifestyles and increase in disposable incomes, the demand for fortified nutritional food & beverage products is growing in the region. The application of dairy alternatives is estimated to grow faster due to consumer demand.

Major vendors in the dairy alternatives market  include The Whitewaves Food Company (US), The Hain Celestial Group (US), Blue Diamond  Growers (US), Sunopta (Canada), Sanitarium Health and Wellbeing Company (Australia), Freedom Foods Group (Australia), Eden Foods (US), Nutriops S.L. (Spain), Earths Own Food Company (Canada), Triballat Noyal (France), Valsoia S.P.A (Italy), Dohler GmBh (Germany),Organic Valley (US), and Panos Brands LLC (US).

Browse Adjacent Markets @ Food Ingredients Market Research Reports & Consulting

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/dairy-alternative-plant-milk-beverages-market.asp
Visit Our Web Site:  https://www.marketsandmarkets.com

SOURCE MarketsandMarkets