The “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” report has been added to ResearchAndMarkets.com’s offering.
Increase in the cases of lactose intolerance and milk allergies drive the overall growth of the dairy alternatives market
The global dairy alternatives market size 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 dairy alternatives market is driven by various factors such as growing consumer preference for a vegan diet and nutritional benefits offered by plant-based dairy alternatives. However, the volatile price of raw materials in various regions can hinder the growth of the market.
The key players in this market are The Whitewave Foods Company (US), The Hain Celestial Group Inc. (US), Blue Diamond Growers (US), SunOpta (Canada), and Sanitarium Health & Wellbeing Company (Australia).
- Codex Alimentarius Commission
- Food and Drug Administration (FDA)
- The Soyfoods Association of America
- Classification of Soymilk
- Food Standards Australia New Zealand (FSANZ)
- European Court of Justice
- Patent Analysis
- Growing Consumer Preference for A Vegan Diet
- Nutritional Benefits Offered By Plant-Based Dairy Alternatives
- Increasing Cases of Lactose Intolerance and Milk Allergies
- Volatile Prices of Raw Materials
- Growing Demand in Emerging Markets
- Favorable Marketing and Correct Positioning of Dairy Alternatives
- Changing Lifestyles of Consumers
- Limited Availability of Raw Materials
- Limited Awareness Amongst Consumers
- Blue Diamond Growers
- Dhler GmbH
- Earth’s Own Food Company
- Eden Foods
- Freedom Foods Group
- Nutriops S.L
- Organic Valley
- Panos Brands
- Sanitarium Health and Wellbeing Company
- The Hain Celestial
- The Whitewave Foods Company
- Triballat Noyal
- Valsoia S.P.A.
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