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By 2024, Dairy Alternatives Market is anticipated to cross USD 34 Billion. “Plant based Milk” is another name of Dairy Alternatives. Plant based milk has become a need for consumers who are allergic to traditional milk and milk products. Most of the consumers pick these beverages because of intolerances to cow’s/buffalo’s milk while many choose them for taste. Allergic consumers to dairy products are eagerly looking for plant based milk with huge amount of nutrients, vitamins and calcium with same satisfaction as the cow’s/Buffalo’s milk. Dairy milk was the healthiest food in the past but increasing allergic consumers would lessen the demand for dairy products in upcoming years.
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According to a new report by Renub ResearchDairy Alternatives Market, Consumption, Forecast, Global Analysis - By Plant based Milk (Soy, Almond, Rice, Others), Regions (North America, Asia Pacific, Europe, ROW) Companies (WhiteWave Foods, Organic Valley, Hain Celestial Group Inc., Blue Diamond Growers Inc., SunOpta Inc., Freedom Foods Group Ltd., Vitasoy International Holdings Ltd., Kikkoman.).
The view purpose of this report is developing buyer concentrate on the nutritious esteems and sound eating regimen possible by the non dairy items say for example, vitamins, low calories and high proteins is plausible to have awesome hit on the business.
Soy Milk led the market share among all other sections globally
The report has additionally considered Dairy Alternatives showcase based on its applications as Food and Beverages. As of source premise, the market for Dairy Alternatives can be sectioned into Rice Milk, Soy Milk, Almond Milk and Others.
People go for Plant based Milk despite of High Price
The price of plant based milk is higher in comparison to traditional milk. This is because of its high production cost and the high nutrient content. The most important nutrients present in milk comprise vitamins, proteins, calcium, phosphorus, magnesium etc. Although, price of milk is higher than cow’s milk, but still consumer choose plant based milk owing to its huge benefits for healthier life. High price may hamper the market in developing nations like India and China where consumers are cost sensitive. Conversely, production and consumption of dairy alternative milk is increasing in the developed nations like the U.S. and Canada.
Some of the driving factors of Plant based Milk
Growing lactose intolerance among individuals globally, the increasing number of dairy sensitive consumers, novel product launches and attractive promotional and marketing strategies followed by the companies are the driving factors that have propelled the overall growth of the plant based milk market. The Plant based milk market is extremely competitive with top players merging other small players to enhance their market presence. Top key players which are studied in this report titled Global Market for Dairy Alternatives are Blue Diamond Growers Inc, Organic Valley, Hain Celestial Group Inc., WhiteWave Foods Company, SunOpta Inc., Freedom Foods Group Limited, Vitasoy International Holdings Limited and Kikkoman.
Regional Aspect of Diary Alternatives Market
Amplifying in disposable income of China’s huge population is likely to drive the Asia-Pacific dairy alternative market in the upcoming years. As Asia-Pacific region is leading the dairy alternatives market due to the growing number of vegan and lactose intolerant population in the region. On the basis of regional aspect the Dairy Alternatives market is segmented into North America, Asia-Pacific, Europe and Rest of World.
As Asia Pacific region is leading the dairy alternatives market, Look at some aspects of that region
However, in rising dairy markets there is divergence. Say for instance, India has a long practice of dairy consumption especially yogurt, while production has been informal and local. The means of production and consumption are modernizing as the market evolves toward industrial product variety and packaged products. The Chinese diet and most Southeast Asian diets have not conventionally integrated dairy, although the certain health benefits have encouraged a shift among the past couple of generations to enlarged consumption.
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