Food & Beverage Market Research News

Growing instances of intolerance and allergies coupled with rising health consciousness among consumers is driving the market for dairy alternatives.

The dairy alternative beverages are primarily prominent due to their low fat content and low cholesterol properties. They are basically milk based out of plants- could be extraction from grains, nuts or seeds.

Unconventional like the regular dairy products, these are consumed majorly by dairy tolerant consumers, vegans and individuals with milk allergies.

Not only is the global number of vegans rising, the sensitivity among people is also seen to be rising at a certain rate in the past few years. Both these reasons have been aiding the dairy alternative market since a while now and is clearly projected to further draw immense prominence to the industry, according to expert analysis of IndustryARC.

Estimated to be growing at nearly 10% CAGR during 2016-2021, the dairy alternatives market will continue to grow qualitatively owing to the wide demand for milk substitutes.

Additional Market Insights and Growth Trends:

Asia-Pacific is the dominant industryarc.com/Report/…arket.html which held close to 60% of the overall market in 2015, whereas RoW encompassing South America, Middle East and Africa is forecast to be fastest growing market.

Dairy alternative beverages are distributed through supermarkets, health food stores, convenience stores, pharmacies and others. These products are available in several formulations including plain, flavored, sweetened and non-sweetened.

Supermarket is the most preferred channel by the consumer as well as product provider in this market.

While almond milk currently dominates the market, coconut milk is estimated to be the fastest growing sector. Plain non-sweetened and flavored sweetened formulations of dairy alternative beverages are estimated to witness fastest growth.

Segmentation Outline:

The dairy alternative (beverage) market is segmented into many types and they are further broken down to sub types all based on 5 broad deciding factors:

1. By Type: Almond Milk, Coconut Milk, Soy Milk, Oat Milk, Rice Milk, Cashewnut Milk and Others

2. By Formulation: Plain Formulation and Flavored Formulation

3. By Channel: Super Markets, Health Food Stores, Convenience Stores and Pharmacies

4. By Shelf Life: Refrigerated and Shelf Life Stable

5. By Geography: North America, Europe, APAC and Rest of the World

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Vendors Analysis:

Blue Diamond Growers Inc.(U.S.), Earth's Own Food Company Inc. (Canada), WhiteWave Foods Company (U.S.), Vitasoy International (Hong Kong), Sunopta (Canada) are noted to have notable market shares and quality brand image in the dairy alternatives market on a global scale, owing to their wide product mix and significant achievements in customer base and services.

However, the geographical reach of market players is limited to few regions. More consolidation is expected in the coming years as manufacturers focus on developing and launching products from emerging sources with new flavors and nutrient fortification.

Further, IndustryARC analysis on the dairy alternative (beverage) market includes more than 40-45 industry players with in-depth analysis with respect to all business and market aspects. Few of these 40 would be:

• Eden Foods Inc. (U.S.)

• Freedom Foods Group Ltd. (Australia)

• Grupo Leche Pascual, SA (Spain)

• Hain Celestial Group, Inc. (U.S.)

• Living Harvest Foods Inc. (U.S.)

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