Dairy Alternatives Market by Source (Soy, Almond, Coconut, Oats, Rice, Hemp), Application (Milk, Yogurt, Ice creams, Cheese, Creamers), Distribution Channel (Supermarkets, Health Food Stores, Pharmacies), Formulation, and Region - (2020 - 2026)
[196 Pages Report] According to MarketsandMarkets, the dairy alternatives market was estimated to be valued at USD 22.6 billion in 2020 and is projected to reach USD 40.6 billion by 2026, recording a CAGR of 10.3% in terms of value. Globally, the health benefits of dairy alternatives have led to their large-scale adoption in numerous applications. Factors such as changing lifestyles, growing health awareness, increasing instances of lactose allergies are further driving the global market. The Asia Pacific region will dominate the market due to the agricultural production base for plant-based sources.
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Market Dynamics
Drivers: Growth in consumer preference for a vegan diet
Several consumers perceive a vegan diet to be healthy and prefer consuming dairy alternatives such as soy milk, almond milk, rice milk, and other plant-based milk as a substitute. Vegan diet followers and adopters of a healthy diet are the primary consumers of dairy alternatives that have propelled the market growth. The rise in awareness among consumers about the benefits offered by a vegan diet is one of the major factors propelling the demand for dairy alternatives across the world. A substantial increase in the vegan population has been seen in many major economies, such as the US and the UK.
Restraints: Volatile prices of raw materials
The price of dairy alternative depends on the supply of raw materials, which is why there are price fluctuations. Oat milk and several other dairy alternatives face the problem of raw material unavailability, because of which prices increase. The price volatility stands as one of the biggest limitations for growth in dairy alternative beverage sales. Dairy alternatives are also obtained from natural sources. Changes in climatic conditions might result in shortage of raw materials, which can ultimately lead to volatility in the prices of raw materials. Thus, it hinders the growth of market.
Opportunities: Favorable marketing and correct positioning of dairy alternatives
The dairy alternatives market have huge growth prospects and its sales can be increased by adopting marketing strategies such as diversification and segmentation. The objective is to create more demand among consumers, such as lactose intolerants, trainers, health-conscious consumers, and vegans. Positioning the product at the right place through right sales channel will further contribute to the growing sales of dairy alternative products. Companies operating in this market space, need to accurately position themselves by expanding customer relationships and extending their reach. Appropriate labeling can further accelerate market growth.
Challenges: Limited awareness amongst consumers
Although the dairy alternatives market is growing tremendously, still there is limited awareness regarding the nutritional benefits offered by it, in the market. Some dairy consumers still feel that the nutritional content in dairy alternatives is lower than cows milk and contains lower content of essential nutrients. Such misconceptions are more prevalent among consumers in underdeveloped and developing countries due to lack of knowledge about the nutrition provided by dairy alternative products as well as lack of efforts that are put to educate them.
By source, the almond segment is projected to grow with the highest CAGR in the dairy alternatives market during the forecast period
Based on source, almond is the fastest-growing segment in the market. The growth of almond-based dairy alternatives is attributed to factors such as high nutritional content, easy availability of raw materials, and increased popularity in the market. Almond offers a nutty flavor and it can be consumed by vegans, lactose- intolerant individuals, and by consumers who are allergic to soymilk. Almond-based dairy alternatives are also beneficial for calorie-conscious individuals as it is free from cholesterol and saturated fats.
By distribution channel, online stores is projected to grow with the highest CAGR in the global market during the forecast period
Based on the distribution channel, online stores will be the fastest-growing segment in the market. Online stores are easily accessible and are cost-effective. Online platforms offering dairy alternative products ease the purchasing process for the consumers. They offer wide variety of alternative dairy products to consumers at discounted prices as compared to traditional retail prices.
By application, the milk segment is projected to account for the largest share in the dairy alternatives market during the forecast period
By application, the global market is segmented into milk, yogurt, ice creams, cheese, and creamers. Milk segment dominated the market owing to rising health concerns relates to lactose intolerance and hectic lifestyles of the consumers. Plant-based milk products are highly nutritious and are available in various flavors.
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The Asia Pacific is projected to account for the largest market share during the forecast period
The global market is dominated by the Asia Pacific region due to the changing lifestyles of consumers and increase in consumption of clean label products. The dairy alternatives industry in the region is currently undergoing a dramatic transformation in response to rapid urbanization, diet diversification, and liberalization of foreign direct investment in the food sector. Consumers are also more aware about their health and wellness, which is further fueling the demand for dairy alternatives in the region.
The Asia Pacific dairy alternatives market is also driven by large economies such as China, Japan, and Australia. The overall investment in the region has increased substantially over the past few years, especially in China.
Key Market Players:
The Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium Health and Wellbeing Company (Australia), Danone (France), Freedom Foods Group (Australia), Earths Own Food Company (Canada), Triballat Noyal (France), Valsoia S.P.A (Italy), Panos Brands (US), Melt Organic (US), Oatly (Sweden), Living Harvest Foods (US), Ripple Foods (US), Kite Hill (US), Califia Farms (US), Hudson River Foods Inc. (US), Daiya Foods Inc. (Canada), Pureharvest (Australia), Yoconut Dairy Free (US), and Yumbutter (US).
Recent Developments
- In November 2020, SunOpta announced its investment of USD 26 million into its Minnesota-based oat processing facility. This will enable the company to meet the rising demand for oat milk in the US. The Minnesota facility produces oat base, which is used for plant-based ice creams and yogurts as well as milk alternatives
- In May 2020, Blue Diamond Growers focused on the strategic decision of two major expansions. The first expansion is 52,000-square foot addition to the existing 200,000 square-foot Turlock manufacturing plant. The second expansion is the new Bulk 8 warehouse at the Salida facility. This expansion will provide space for a future manufacturing line to support its current business and innovations.
- In March 2020, Melt Organic launched Butter Sticks Unsalted. The product is made from a perfect blend of fruit- and plant-based oils featuring certified organic, non-GMO coconut oil. This product was launched to meet the consumer demand for an unsalted product for baking and cooking needs.
- In October 2019, Blue Diamond Growers expanded its selection of Almond Breeze products with another Latin American beverage, Almond Breeze Almondmilk Mexican Hot Chocolate. The new product will help consumers to easily navigate dietary restrictions and enjoy the flavor of non-dairy alternatives.
Frequently Asked Questions (FAQ):
Which are the major sources considered in this study and which segments are projected to have a promising growth rate in future?
Soy is currently accounting for the dominant share in the dairy alternatives market, followed by almond and coconut. However, almond is projected to experiencing the highest growth rate in next five years, as it has many characteristics such as high nutritional content and easy availability of raw material. It is perceived as a clean-label ingredient and has the added benefits of being soy-free, gluten-free, and lactose-free.
I am interested in Asia Pacific market for soy, almond, coconut, rice, oats, and hemp segment. Is the customization available for the same? What would all information be included in the same?
Yes, customization for Asia Pacific market for various sources can be provided on various aspects including market size, forecast, market dynamics, company profiles & competitive landscape. Exclusive insights on below Asia Pacific countries will be provided:
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific (South Korea, Singapore, Malaysia, Indonesia)
Also, you can let us know if there are any other countries of your interest
What are some of the drivers fueling the growth of dairy alternatives market?
Global dairy alternatives market is characterized by following drivers:
- Increase in cases of lactose intolerance and milk allergies:
The increasing number of lactose-intolerant and dairy-allergic consumers have accelerated the growth of the dairy alternatives market. Lactose is the major carbohydrate in milk and other dairy foods such as ice cream, cheese, and yogurt. The symptoms of lactose intolerance among individuals include abdominal pain, diarrhea, nausea, gut distension, flatulence, and constipation. The increasing number of these allergies promotes the consumption of dairy alternatives as consumers are more aware of healthy eating habits. Consequently, the demand for a variety of dairy alternatives such as plant-based non-dairy products such as milk, ice creams, creamers, cheese, among others, is gaining importance among these consumers.
- Nutritional benefits offered by plant-based food:
Nutritional benefits, such as reduced cholesterol levels, improved cardiovascular health, and diabetes control, of plant-based dairy alternatives, have led to an increase in their consumption. Soy milk is widely consumed as a rich source of omega-3 fatty acids, protein, and fiber. It contains isoflavones that have anti-estrogenic and anticancer properties. Almond milk, rich in calcium and vitamin E, is recommended for both skin and bone health. It contains about one-third the calories of 2% cows milk. Consumers opt for coconut milk as it contains lauric acid. The low carb and low-fat varieties of dairy alternatives help reduce fat. Such nutritional benefits contribute to the growth of the dairy alternatives market.
I am interested in understanding the research methodology on how you arrived at the market size and segmental splits before making a purchase decision. Can you provide me with an explanation on the same?
Yes, detailed explanation of research methodology can be provided over a scheduled call, it will also enable us to explain all your queries in detail. For a brief overview and knowledge: Multiple approaches have been adopted to understand the holistic view of this market including:
- Top down approach (Based on global market)
- Primary interviews with industry experts
- Data triangulation
What kind of information is provided in the competitive landscape section?
For the list of below mentioned players, company profiles provide insights such as business overview covering information on the companys business segments, financials, geographic presence and revenue mix and business revenue mix. The company profiles section also provides information on product offerings, key developments associated with the company, SWOT analysis and MnM view to elaborate analyst view on the company. Some of the key players in the market include The Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium Health and Wellbeing Company (Australia), Danone (France), and Freedom Foods Group (Australia). .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
FIGURE 1 MARKET SEGMENTATION
1.4 REGIONS COVERED
1.5 PERIODIZATION CONSIDERED
1.6 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES CONSIDERED, 20172019
1.7 VOLUME UNIT CONSIDERED
1.8 STAKEHOLDERS
1.9 SUMMARY OF CHANGES
2.1 RESEARCH DATA
FIGURE 2 DAIRY ALTERNATIVES MARKET: RESEARCH DESIGN
FIGURE 3 KEY DATA FROM PRIMARY SOURCES
2.2 MARKET SIZE ESTIMATION
2.2.1 APPROACH ONE (BASED ON APPLICATION, BY REGION)
2.2.2 APPROACH TWO (BASED ON GLOBAL MARKET)
2.3 DATA TRIANGULATION
FIGURE 4 DATA TRIANGULATION METHODOLOGY
2.4 ASSUMPTIONS FOR THE STUDY
2.5 LIMITATIONS OF THE STUDY
2.6 SCENARIO-BASED MODELING
2.7 COVID-19 HEALTH ASSESSMENT
FIGURE 5 COVID-19: THE GLOBAL PROPAGATION
FIGURE 6 COVID-19 PROPAGATION: SELECT COUNTRIES
2.8 COVID-19 ECONOMIC ASSESSMENT
FIGURE 7 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
2.8.1 COVID-19 ECONOMIC IMPACTSCENARIO ASSESSMENT
FIGURE 8 CRITERIA IMPACTING THE GLOBAL ECONOMY
FIGURE 9 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
TABLE 2 MARKET SHARE SNAPSHOT, 2020 VS. 2026 (USD BILLION)
FIGURE 10 IMPACT OF COVID-19 ON THE DAIRY ALTERNATIVES MARKET SIZE, BY SCENARIO, 2020-2021 (USD BILLION)
FIGURE 11 DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 2020 VS. 2026 (USD MILLION)
FIGURE 12 MARKET SIZE, BY APPLICATION, 2020 VS. 2026 (USD MILLION)
FIGURE 13 MARKET SIZE, BY DISTRIBUTION CHANNEL, 2020 VS. 2026 (USD MILLION)
FIGURE 14 MARKET SIZE, BY FORMULATION, 2020 VS. 2026 (USD BILLION)
FIGURE 15 MARKET SHARE AND GROWTH RATE (VALUE), BY REGION, 2019
4.1 ATTRACTIVE OPPORTUNITIES IN THE DAIRY ALTERNATIVE MARKET
FIGURE 16 GROWING VEGAN AND FLEXITARIAN POPULATION ACROSS THE WORLD AND DEMAND FOR LACTOSE-FREE FOOD & BEVERAGE PRODUCTS TO PROPEL THE MARKET
4.2 DAIRY ALTERNATIVES MARKET: MAJOR REGIONAL SUBMARKETS
FIGURE 17 ASIA PACIFIC WAS THE LARGEST MARKET GLOBALLY FOR DAIRY ALTERNATIVES IN 2019
4.3 EUROPE: DAIRY ALTERNATIVE MARKET, BY KEY APPLICATION AND COUNTRY
FIGURE 18 SPAIN ACCOUNTED FOR THE LARGEST SHARE IN THE EUROPEAN MARKET IN 2019
4.4 DAIRY ALTERNATIVE MARKET, BY APPLICATION
FIGURE 19 MILK SEGMENT PROJECTED TO DOMINATE THE DAIRY ALTERNATIVE MARKET DURING THE FORECAST PERIOD
4.5 DAIRY ALTERNATIVE MARKET, BY SOURCE AND REGION
FIGURE 20 ASIA PACIFIC IS ESTIMATED TO DOMINATE THE MARKET FOR DAIRY ALTERNATIVES DURING THE FORECAST PERIOD
4.6 DAIRY ALTERNATIVE MARKET, BY DISTRIBUTION CHANNEL
FIGURE 21 SUPERMARKETS & HYPERMARKETS SEGMENT PROJECTED TO DOMINATE THE DAIRY ALTERNATIVE MARKET DURING THE FORECAST PERIOD
FIGURE 22 COVID-19 IMPACT ON THE DAIRY ALTERNATIVE MARKET: COMPARISON OF PRE- AND POST-COVID-19 SCENARIOS
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 23 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growing consumer preference for a vegan diet
FIGURE 24 UK VEGAN POPULATION, 2014-2019
5.2.1.2 Nutritional benefits offered by plant-based food
TABLE 3 NUTRITIONAL COMPARISON OF DAIRY AND NON-DAIRY MILK
5.2.1.3 Rising cases of lactose intolerance and milk allergies
TABLE 4 LACTOSE CONTENT IN DAIRY FOOD PRODUCTS
TABLE 5 TOP 10 COUNTRIES WITH LACTOSE-INTOLERANT POPULATION
5.2.2 RESTRAINTS
5.2.2.1 Allergies associated with plant-based sources, such as soy and almonds
5.2.3 OPPORTUNITIES
5.2.3.1 Growing demand from emerging economies
5.2.3.2 Favorable marketing and correct positioning of dairy alternatives
5.2.3.3 Rising demand for organic food & beverages
5.2.4 CHALLENGES
5.2.4.1 Limited awareness among consumers
5.2.4.2 Genetically modified (GM) soybeans
5.2.4.3 Volatile prices of raw materials
FIGURE 25 GLOBAL AVERAGE PRICE OF RAW MATERIALS, 2015-2019 (USD/KG)
5.3 COVID-19 IMPACT ON THE DAIRY ALTERNATIVES MARKET
TABLE 6 GLOBAL AVERAGE PRICE OF DAIRY ALTERNATIVES (USD/LITER), BY APPLICATION
5.4 PATENT ANALYSIS
TABLE 7 FEW PATENTS PERTAINING TO DAIRY ALTERNATIVES, 20192020
5.5 VALUE CHAIN
FIGURE 26 DAIRY ALTERNATIVE MARKET: VALUE CHAIN
5.6 ECOSYSTEM/MARKET MAP FOR DAIRY ALTERNATIVES
FIGURE 27 ECOSYSTEM VIEW
5.7 KEY MARKETS FOR IMPORT/EXPORT
5.7.1 ALMONDS
TABLE 8 TOP 10 IMPORTERS AND EXPORTERS OF ALMONDS, 2019 (KT)
5.7.2 SOYBEANS
TABLE 9 TOP 10 IMPORTERS AND EXPORTERS OF SOYBEANS, 2019 (KT)
5.7.3 OATS
TABLE 10 TOP 10 IMPORTERS AND EXPORTERS OF OATS, 2019 (KT)
5.7.4 RICE
TABLE 11 TOP 10 IMPORTERS AND EXPORTERS OF RICE, 2019 (KT)
5.7.5 COCONUTS
TABLE 12 TOP 10 IMPORTERS AND EXPORTERS OF COCONUTS, 2019 (KT)
5.7.6 HEMP
TABLE 13 TOP 10 IMPORTERS AND EXPORTERS OF HEMP, 2019 (TON)
5.8 PORTERS FIVE FORCES ANALYSIS
5.8.1 DAIRY ALTERNATIVES MARKET: PORTERS FIVE FORCES ANALYSIS
5.9 CASE STUDY
5.1 YC-YCC SHIFT
FIGURE 28 YC & YCC SHIFT FOR THE DAIRY ALTERNATIVE MARKET
6.1 INTRODUCTION
FIGURE 29 DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 2020 VS. 2026 (USD MILLION)
TABLE 14 MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
6.2 COVID-19 IMPACT ON THE DAIRY ALTERNATIVES MARKET, BY SOURCE
6.2.1 OPTIMISTIC SCENARIO
TABLE 15 OPTIMISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 20182021 (USD MILLION)
6.2.2 REALISTIC SCENARIO
TABLE 16 REALISTIC SCENARIO: MARKET SIZE, BY SOURCE, 20182021 (USD MILLION)
6.2.3 PESSIMISTIC SCENARIO
TABLE 17 PESSIMISTIC SCENARIO: MARKET SIZE, BY SOURCE, 20182021 (USD MILLION)
6.3 SOY
6.3.1 EASY AVAILABILITY AND HIGH ACCEPTABILITY OF SOY-BASED PRODUCTS TO DRIVE THE MARKET FOR SOY-DERIVED DAIRY ALTERNATIVES
TABLE 18 SOY: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
6.4 ALMOND
6.4.1 RISING DEMAND FOR BLENDED FORMS OF THE PRODUCT TO DRIVE THE MARKET FOR ALMOND-BASED DAIRY ALTERNATIVES
TABLE 19 ALMOND: DAIRY ALTERNATIVES MARKET SIZE, BY REGION, 20182026 (USD MILLION)
6.5 COCONUT
6.5.1 HIGH PALATABILITY, NUTRITIONAL LEVEL, AND GOOD FOR HEART PROPERTIES OF COCONUT TO DRIVE THE DEMAND FOR COCONUT-BASED DAIRY ALTERNATIVES
TABLE 20 COCONUT: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
6.6 RICE
6.6.1 LOW RISK OF ALLERGIES AND COMPARATIVELY LIGHT AND BLAND TASTE TO DRIVE THE MARKET FOR RICE-DERIVED DAIRY ALTERNATIVE PRODUCTS
TABLE 21 RICE: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
6.7 OATS
6.7.1 RICH NUTRITIONAL CONTENT AND CANCER CURING PROPERTIES TO DRIVE THE MARKET FOR OAT-BASED DAIRY ALTERNATIVES
TABLE 22 OATS: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
6.8 HEMP
6.8.1 RISING AWARENESS REGARDING HEALTH BENEFITS OFFERED BY HEMP-BASED PRODUCTS TO DRIVE THE MARKET FOR HEMP-SOURCED DAIRY ALTERNATIVES
TABLE 23 HEMP: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
6.9 OTHER SOURCES
TABLE 24 OTHER SOURCES: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
7.1 INTRODUCTION
FIGURE 30 DAIRY ALTERNATIVES MARKET SIZE, BY APPLICATION, 2020 VS. 2026 (USD MILLION)
TABLE 25 DAIRY ALTERNATIVE MARKET SIZE, BY APPLICATION, 20182026 (USD MILLION)
7.2 COVID-19 IMPACT ON THE DAIRY ALTERNATIVE MARKET, BY APPLICATION
7.2.1 OPTIMISTIC SCENARIO
TABLE 26 OPTIMISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY APPLICATION, 20182021 (USD MILLION)
7.2.2 REALISTIC SCENARIO
TABLE 27 REALISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY APPLICATION, 20182021 (USD MILLION)
7.2.3 PESSIMISTIC SCENARIO
TABLE 28 PESSIMISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY APPLICATION, 20182021 (USD MILLION)
7.3 MILK
7.3.1 RISING AWARENESS ABOUT HEALTH AND WELLNESS TO DRIVE THE MARKET FOR DAIRY-FREE MILK PRODUCTS
TABLE 29 MILK: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
7.4 ICE CREAMS
7.4.1 RISING DEMAND FOR CHOLESTEROL- AND FAT-FREE DESSERTS TO DRIVE THE NON-DAIRY FROZEN DESSERTS MARKET
TABLE 30 ICE CREAMS: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
7.5 YOGURT
7.5.1 INNOVATION IN TERMS OF FLAVORS IS GOING TO CREATE OPPORTUNITIES FOR NON-DAIRY YOGURT MANUFACTURERS
TABLE 31 YOGURT: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
7.6 CHEESE
7.6.1 RISING NUMBER OF LACTOSE-INTOLERANT CONSUMERS TO DRIVE THE DEMAND FOR DAIRY-FREE CHEESE
TABLE 32 CHEESE: DAIRY ALTERNATIVES MARKET SIZE, BY REGION, 20182026 (USD MILLION)
7.7 CREAMERS
7.7.1 HUGE INVESTMENTS IN R&D ACTIVITIES WILL LEAD TO THE DEVELOPMENT OF NEW AND INNOVATIVE DAIRY-FREE CREAMERS
TABLE 33 CREAMERS: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
7.8 OTHER APPLICATIONS
TABLE 34 OTHER APPLICATIONS: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
8.1 INTRODUCTION
FIGURE 31 DAIRY ALTERNATIVE MARKET SIZE, BY DISTRIBUTION CHANNEL, 2020 VS. 2026 (USD MILLION)
TABLE 35 MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182026 (USD MILLION)
8.2 COVID-19 IMPACT ON THE DAIRY ALTERNATIVES MARKET, BY DISTRIBUTION CHANNEL
8.2.1 OPTIMISTIC SCENARIO
TABLE 36 OPTIMISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182021 (USD MILLION)
8.2.2 REALISTIC SCENARIO
TABLE 37 REALISTIC SCENARIO: MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182021 (USD MILLION)
8.2.3 PESSIMISTIC SCENARIO
TABLE 38 PESSIMISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182021 (USD MILLION)
8.3 SUPERMARKETS & HYPERMARKETS
8.3.1 SUPERMARKETS & HYPERMARKETS ARE PREFERRED CHANNELS OF DISTRIBUTION FOR DAIRY ALTERNATIVES AS MULTIPLE OPTIONS CAN BE OFFERED TO CONSUMERS
TABLE 39 SUPERMARKETS & HYPERMARKETS: DAIRY ALTERNATIVES MARKET SIZE, BY REGION, 20182026 (USD MILLION)
8.4 HEALTH FOOD STORES
8.4.1 HEALTH BENEFITS OFFERED BY DAIRY ALTERNATIVES MAKE THEM AN INTEGRAL PART OF HEALTH FOOD STORES
TABLE 40 HEALTH FOOD STORES: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
8.5 PHARMACIES
8.5.1 RISING HEALTH ISSUES AND PRESCRIPTIONS FROM DOCTORS FOR ALLERGIES TEND TO INCREASE THE SALES OF DAIRY ALTERNATIVES THROUGH PHARMACIES
TABLE 41 PHARMACIES: DAIRY ALTERNATIVES MARKET SIZE, BY REGION, 20182026 (USD MILLION)
8.6 CONVENIENCE STORES
8.6.1 EASY ACCESSIBILITY AND CONVENIENCE FOR CONSUMERS WILL LEAD TO A RISE IN SALES THROUGH CONVENIENCE STORES
TABLE 42 CONVENIENCE STORES: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
8.7 ONLINE STORES
8.7.1 ONLINE SELLING PLATFORMS OFFER FASTER ACCESSIBILITY AND COST EFFECTIVENESS
TABLE 43 ONLINE STORES: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
8.8 OTHER DISTRIBUTION CHANNELS
TABLE 44 OTHER DISTRIBUTION CHANNELS: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
9.1 INTRODUCTION
FIGURE 32 DAIRY ALTERNATIVE MARKET SHARE, BY FORMULATION, 2020 VS. 2026 (USD MILLION)
TABLE 45 MARKET SIZE, BY FORMULATION, 20182026 (USD MILLION)
9.2 COVID-19 IMPACT ON THE DAIRY ALTERNATIVES MARKET, BY FORMULATION
9.2.1 OPTIMISTIC SCENARIO
TABLE 46 OPTIMISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY FORMULATION, 20182021 (USD MILLION)
9.2.2 REALISTIC SCENARIO
TABLE 47 REALISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY FORMULATION, 20182021 (USD MILLION)
9.2.3 PESSIMISTIC SCENARIO
TABLE 48 PESSIMISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY FORMULATION, 20182021 (USD MILLION)
9.3 FLAVORED
9.3.1 RISING DEMAND FOR BLENDED VERSIONS OF FLAVORED & SWEETENED PRODUCTS
TABLE 49 FLAVORED: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
9.4 PLAIN
9.4.1 PLAIN SOY AND ALMOND MILK ARE LARGELY CONSUMED BY VEGAN AND LACTOSE-INTOLERANT CONSUMERS
TABLE 50 PLAIN: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
10.1 INTRODUCTION
TABLE 51 NUTRITIONAL COMPARISON OF DAIRY AND NON-DAIRY MILK
10.2 CALORIES
10.3 PROTEIN
10.4 CARBOHYDRATES
10.5 VITAMINS
10.6 OTHERS
11.1 INTRODUCTION
FIGURE 33 REGIONAL SNAPSHOT: NEW HOTSPOTS TO EMERGE IN EUROPE, 20202026
TABLE 52 DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182026 (USD MILLION)
TABLE 53 MARKET SIZE, BY REGION, 20182026 (MILLION LITERS)
11.2 COVID-19 IMPACT ON THE DAIRY ALTERNATIVES MARKET, BY REGION
11.2.1 OPTIMISTIC SCENARIO
TABLE 54 OPTIMISTIC SCENARIO: DAIRY ALTERNATIVE MARKET SIZE, BY REGION, 20182021 (USD MILLION)
11.2.2 REALISTIC SCENARIO
TABLE 55 REALISTIC SCENARIO: MARKET SIZE, BY REGION, 20182021 (USD MILLION)
11.2.3 PESSIMISTIC SCENARIO
TABLE 56 PESSIMISTIC SCENARIO: DAIRY ALTERNATIVES MARKET SIZE, BY REGION, 20182021 (USD MILLION)
11.3 REGULATORY FRAMEWORK
11.3.1 FOOD AND DRUG ADMINISTRATION (FDA)
11.3.2 FOOD STANDARDS AUSTRALIA NEW ZEALAND (FSANZ)
TABLE 57 SOME OF THE MANDATORY ADVISORY STATEMENTS GIVEN BY FSANZ
11.3.3 EUROPEAN COURT OF JUSTICE
11.4 NORTH AMERICA
TABLE 58 NORTH AMERICA: DAIRY ALTERNATIVES MARKET SIZE, BY COUNTRY, 20182026 (USD MILLION)
TABLE 59 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 20182026 (MILLION LITERS)
TABLE 60 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 20182026 (USD MILLION)
TABLE 61 NORTH AMERICA: MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
TABLE 62 NORTH AMERICA: MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182026 (USD MILLION)
TABLE 63 NORTH AMERICA: MARKET SIZE, BY FORMULATION, 20182026 (USD MILLION)
11.4.1 US
11.4.1.1 Rising awareness about health & wellness among consumers and allergen concerns to drive the dairy alternative market
FIGURE 34 US: CONSUMER PERCEPTION TOWARD DAIRY ALTERNATIVES
TABLE 64 US: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.4.2 CANADA
11.4.2.1 Measures taken by the Canadian government and huge investments in the processing industry to drive the market
TABLE 65 CANADA: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.4.3 MEXICO
11.4.3.1 Changing consumer preferences and rising imports of plant sources lead to the growth of the Mexican dairy alternative market
TABLE 66 MEXICO: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.5 EUROPE
FIGURE 35 EUROPE: DAIRY ALTERNATIVES MARKET SNAPSHOT
TABLE 67 EUROPE: MARKET SIZE, BY COUNTRY, 20182026 (USD MILLION)
TABLE 68 EUROPE: MARKET SIZE, BY COUNTRY, 20182026 (MILLION LITERS)
TABLE 69 EUROPE: MARKET SIZE, BY APPLICATION, 20182026 (USD MILLION)
TABLE 70 EUROPE: MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
TABLE 71 EUROPE: MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182026 (USD MILLION)
TABLE 72 EUROPE: MARKET SIZE, BY FORMULATION, 20182026 (USD MILLION)
11.5.1 FRANCE
11.5.1.1 Rising vegan trend is expected to drive the dairy alternative market in France
FIGURE 36 FRANCE: CONSUMER PERCEPTION TOWARD DAIRY ALTERNATIVES
TABLE 73 FRANCE: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.5.2 SPAIN
11.5.2.1 Rising prices of raw milk in Spain projected to drive the dairy alternative market
FIGURE 37 SPAIN: CONSUMER PERCEPTION TOWARD DAIRY ALTERNATIVES
TABLE 74 SPAIN: DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.5.3 UK
11.5.3.1 Consumer inclination toward healthy products to drive the dairy alternative market in the UK
FIGURE 38 UK: CONSUMER PERCEPTION TOWARD DAIRY ALTERNATIVES
TABLE 75 UK: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.5.4 GERMANY
11.5.4.1 The growing food & beverage industry in Germany is expected to drive the dairy alternatives market
FIGURE 39 GERMANY: CONSUMER PERCEPTION TOWARD DAIRY ALTERNATIVES
TABLE 76 GERMANY: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.5.5 ITALY
11.5.5.1 Dairy products, being an integral part of diets, to create an opportunity for dairy alternative manufacturers in Italy
TABLE 77 ITALY: DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.5.6 REST OF EUROPE
TABLE 78 REST OF EUROPE: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.6 ASIA PACIFIC
FIGURE 40 ASIA PACIFIC: CONSUMER PERCEPTION TOWARD DAIRY ALTERNATIVES
FIGURE 41 ASIA PACIFIC: REASONS FOR DAIRY AVOIDANCE
FIGURE 42 ASIA PACIFIC: DAIRY ALTERNATIVES MARKET SNAPSHOT
TABLE 79 ASIA PACIFIC: MARKET SIZE, BY COUNTRY/REGION, 20182026 (USD MILLION)
TABLE 80 ASIA PACIFIC: MARKET SIZE, BY COUNTRY/REGION, 20182026 (MILLION LITERS)
TABLE 81 ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 20182026 (USD MILLION)
TABLE 82 ASIA PACIFIC: MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
TABLE 83 ASIA PACIFIC: MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182026 (USD MILLION)
TABLE 84 ASIA PACIFIC: MARKET SIZE, BY FORMULATION, 20182026 (USD MILLION)
11.6.1 CHINA
11.6.1.1 Applications of soy-derived dairy alternatives in various Chinese cuisines to drive the overall growth
FIGURE 43 CHINA: CONSUMER PERCEPTION TOWARD DAIRY ALTERNATIVES
TABLE 85 CHINA: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.6.2 JAPAN
11.6.2.1 Changing dietary patterns of the Japanese population fuel the growth of plant-based milk
FIGURE 44 JAPAN: CONSUMER PERCEPTION TOWARD DAIRY ALTERNATIVES
TABLE 86 JAPAN: DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.6.3 AUSTRALIA & NEW ZEALAND
11.6.3.1 Consumers seeking nutritional products to drive the growth
TABLE 87 AUSTRALIA & NEW ZEALAND: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.6.4 INDIA
11.6.4.1 Change in dietary preferences among consumers to drive the growth
TABLE 88 INDIA: DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.6.5 REST OF ASIA PACIFIC
11.6.5.1 Consumer inclination toward vegetarian and plant-based healthy products to drive the growth
TABLE 89 REST OF ASIA PACIFIC: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.7 SOUTH AMERICA
TABLE 90 SOUTH AMERICA: DAIRY ALTERNATIVES MARKET SIZE, BY REGION, 20182026 (USD MILLION)
TABLE 91 SOUTH AMERICA: MARKET SIZE, BY REGION, 20182026 (MILLION LITERS)
TABLE 92 SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 20182026 (USD MILLION)
TABLE 93 SOUTH AMERICA: MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
TABLE 94 SOUTH AMERICA: MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182026 (USD MILLION)
TABLE 95 SOUTH AMERICA: MARKET SIZE, BY FORMULATION, 20182026 (USD MILLION)
11.7.1 BRAZIL
11.7.1.1 Growth in soybean production and rising health concerns among consumers to drive the dairy alternative market in Brazil
FIGURE 45 SOYBEAN PRODUCTION IN BRAZIL, 2015-2020 (MMT)
TABLE 96 BRAZIL: DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.7.2 ARGENTINA
11.7.2.1 Rising concerns about clean label products and growing vegan trend to drive the dairy alternative market in Argentina
TABLE 97 ARGENTINA: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.7.3 REST OF SOUTH AMERICA
TABLE 98 REST OF SOUTH AMERICA: DAIRY ALTERNATIVES MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.8 REST OF THE WORLD (ROW)
TABLE 99 ROW: DAIRY ALTERNATIVES MARKET SIZE, BY REGION, 20182026 (USD MILLION)
TABLE 100 ROW: MARKET SIZE, BY REGION, 20182026 (MILLION LITERS)
TABLE 101 ROW: MARKET SIZE, BY APPLICATION, 20182026 (USD MILLION)
TABLE 102 ROW: MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
TABLE 103 ROW: MARKET SIZE, BY DISTRIBUTION CHANNEL, 20182026 (USD MILLION)
TABLE 104 ROW: MARKET SIZE, BY FORMULATION, 20182026 (USD MILLION)
11.8.1 MIDDLE EAST
11.8.1.1 Rising demand for functional foods and nutritional products to drive the growth
TABLE 105 MIDDLE EAST: DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
11.8.2 AFRICA
11.8.2.1 Rise in health concerns among consumers to drive the growth
TABLE 106 AFRICA: DAIRY ALTERNATIVE MARKET SIZE, BY SOURCE, 20182026 (USD MILLION)
12.1 OVERVIEW
12.2 MARKET SHARE ANALYSIS, 2019
FIGURE 46 MARKET SHARE ANALYSIS OF MAJOR PLAYERS IN THE DAIRY ALTERNATIVE MARKET, 2019
12.3 COMPANY EVALUATION QUADRANT, 2019 (KEY PLAYERS)
12.3.1 STARS
12.3.2 EMERGING LEADERS
12.3.3 PERVASIVE PLAYERS
12.3.4 PARTICIPANTS
FIGURE 47 DAIRY ALTERNATIVES MARKET: COMPANY EVALUATION QUADRANT, 2019 (KEY PLAYERS)
12.4 PRODUCT FOOTPRINT
TABLE 107 DAIRY ALTERNATIVE MARKET: COMPANY SOURCE FOOTPRINT
TABLE 108 DAIRY ALTERNATIVE MARKET: COMPANY APPLICATION FOOTPRINT
TABLE 109 DAIRY ALTERNATIVE MARKET: COMPANY REGIONAL FOOTPRINT
12.5 COMPANY EVALUATION QUADRANT (OTHER PLAYERS)
12.5.1 PROGRESSIVE COMPANIES
12.5.2 STARTING BLOCKS
12.5.3 RESPONSIVE COMPANIES
12.5.4 DYNAMIC COMPANIES
FIGURE 48 DAIRY ALTERNATIVE MARKET: COMPANY EVALUATION QUADRANT FOR OTHER PLAYERS, 2019
12.6 COVID-19-SPECIFIC COMPANY RESPONSE
12.7 COMPETITIVE SCENARIO
12.7.1 EXPANSIONS & INVESTMENTS
TABLE 110 EXPANSIONS & INVESTMENTS, 2019-2020
12.7.2 NEW PRODUCT LAUNCHES
TABLE 111 NEW PRODUCT LAUNCHES, 2019-2020
12.7.3 AGREEMENTS
TABLE 112 AGREEMENTS, 2019
13.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view)*
13.1.1 THE HAIN CELESTIAL
FIGURE 49 THE HAIN CELESTIAL: COMPANY SNAPSHOT
FIGURE 50 THE HAIN CELESTIAL: SWOT ANALYSIS
13.1.2 BLUE DIAMOND GROWERS
FIGURE 51 BLUE DIAMOND GROWERS: COMPANY SNAPSHOT
FIGURE 52 BLUE DIAMOND GROWERS: SWOT ANALYSIS
13.1.3 SUNOPTA
FIGURE 53 SUNOPTA: COMPANY SNAPSHOT
FIGURE 54 SUNOPTA: SWOT ANALYSIS
13.1.4 SANITARIUM HEALTH AND WELLBEING COMPANY
FIGURE 55 SANITARIUM HEALTH AND WELLBEING COMPANY: SWOT ANALYSIS
13.1.5 DANONE
FIGURE 56 DANONE: COMPANY SNAPSHOT
FIGURE 57 DANONE: SWOT ANALYSIS
13.1.6 FREEDOM FOODS GROUP
FIGURE 58 FREEDOM FOODS GROUP: COMPANY SNAPSHOT
FIGURE 59 FREEDOM FOODS GROUP: SWOT ANALYSIS
13.1.7 EARTHS OWN FOOD COMPANY
13.1.8 TRIBALLAT NOYAL
13.1.9 VALSOIA S.P.A
FIGURE 60 VALSOIA S.P.A: COMPANY SNAPSHOT
13.1.10 PANOS BRANDS
13.2 OTHER PLAYERS
13.2.1 MELT ORGANIC
13.2.2 OATLY
13.2.3 LIVING HARVEST FOODS
13.2.4 RIPPLE FOODS
13.2.5 KITE HILL
13.2.6 CALIFIA FARMS
13.2.7 HUDSON RIVER FOODS INC.
13.2.8 DAIYA FOODS INC.
13.2.9 PUREHARVEST
13.2.10 YOCONUT DAIRY FREE
13.2.11 YUMBUTTER
*Details on Business overview, Products offered, Recent Developments, SWOT Analysis, MNM view might not be captured in case of unlisted companies.
14.1 DISCUSSION GUIDE
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
14.3 AVAILABLE CUSTOMIZATIONS
14.4 RELATED REPORTS
14.5 AUTHOR DETAILS
The study involved four major activities in estimating the dairy alternatives market size. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, were referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold & silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of the market is characterized by the presence of global and regional processed food manufacturers, food, beverage, and nutraceutical companies, commercial research and development institutions, and government & research organizations. The supply side is characterized by the presence of key CEOs and vice presidents, dairy alternative product manufacturers, plant-based milk manufacturers and suppliers, marketing directors, product innovation directors and related key executives from manufacturing companies and organizations operating in the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Given below is the breakdown of the primary respondents.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the dairy alternatives market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size include the following:
- The key players were identified through extensive primary and secondary research.
- The value chain and market size of the dairy alternative market, in terms of value and volume, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.
Data Triangulation
After arriving at the overall market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated using both top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adoptedtop-down approach, bottom-up approach, and the one involving expert interviews. Only when the values arrived at from the three points matches, the data is assumed to be correct.
Report Objectives
- To describe and forecast the dairy alternatives market, in terms of source, application, distribution channel, formulation, and region
- To describe and forecast the dairy alternative market, in terms of value, by regionNorth America, Europe, Asia Pacific, South America, and the Rest of the Worldalong with their respective countries
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of the dairy alternative market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the dairy alternative market
- To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with details on the competitive landscape of market leaders
- To analyze strategic approaches, such as expansions & investments, product launches & approvals, and agreements, in the dairy alternative market
Available Customizations
Based on the given market data, MarketsandMarkets offers customizations in the reports according to client-specific requirements. The available customization options are as follows:
Geographic Analysis
- Further breakdown of the Rest of European dairy alternatives market, by key country
- Further breakdown of the Rest of Asia Pacific dairy alternatives market, by key country
Segment Analysis
- Further breakdown of the source segment into major countries.
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Dairy Alternatives Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Dairy Alternatives Market