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Press release content from Business Wire. The AP news staff was not involved in its creation.

Dairy Alternatives Market is Anticipated to be Valued at Over USD $35 Billion by 2026 - ResearchAndMarkets.com

January 30, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Jan 30, 2020--

The “Dairy Alternatives Market, Consumption, Global Forecast by Plant based Milk, Regions, Companies” report has been added to ResearchAndMarkets.com’s offering.

According to the publisher Dairy Alternatives Market is anticipated to cross USD 35 Billion by 2026.

The demand of Plant-based or non-dairy milk alternative is growing at rapid pace as a specialty beverage across the globe. As having allergy through cow milk, lactose intolerance, calorie concern, the prevalence of hypercholesterolemia is growing. So, plant-based milk alternatives are a rising trend, which can serve as an affordable alternative for many people in developing countries and in places, where cow’s milk supply is insufficient.

However, the main constrains of this market is the high cost of Dairy Alternatives milk compared to conventional dairy and fluctuations in raw materials and the scarcity of raw materials provide a challenge in production and pricing of products. The range of Plant-based milk can be of Coconut Milk, Soy Milk, Rice Milk, Almond Milk, and Others. Soy Milk dominates the global Dairy Alternatives market. Almond Milk, Rice Milk & Coconut milk are also growing in the total global Dairy Alternatives market.

The Dairy Alternatives market for food application will continue to follow its growing trend in the years to come as a wide range of food prepared from milk, which in turn is derived from sources such as almond, rice, soy, coconut and others.

In this report, we have also covered another application such as beverages, which increased notably during the review period. It is estimated that the beverages will keep growing due to its wide range of product in the beverages which can be prepared from Plant-based milk. Some of the commonly consumed Dairy Alternatives based beverages are milk, ice-cream, soft drinks, energy drinks and others. The market is seeing an increasing number of customers due to innovative products, attractive marketing campaigns and health benefits over the conventional milk.

Soy Milk dominates Dairy Alternative Market

Based on segment, the market for dairy alternatives (plant-based milk) is categorized into five segments: Almond Milk, Rice Milk, Soy Milk, Coconut and Others. Soy Milk has the highest market share globally. Soy milk has grown in popularity because of increased awareness of soy’s possibility in lowering the risk of heart disease.

Beverage Market is growing in the Global plant Based Milk Market

The report has also studied the Dairy Alternatives market based on its applications as Food & Beverages. In recent years, developments in plant-based products have led to newer products in the beverages sector. Functionality in these beverages may able to address the different needs and lifestyle such as to boost energy, fight ageing, fatigue and stress, target specific diseases and the sector is still expanding.

Asia-Pacific has bright Future Ahead

Based on regions, the market for plant-based milk has been segmented into these regions; North America, Asia-Pacific, Europe and Rest of the World. The Asia-Pacific region mostly dominates the alternative dairy market due to the growing number of vegan and lactose intolerant populations in the region. Two-thirds of the world’s populations are lactose-intolerant. The figure is almost 90 percent in Asia and Africa. Thus, the numbers of consumers are growing while choosing non-dairy milk and products which are lactose-free because of its benefits over conventional milk.

Key Topics Covered:

1. Executive Summary

2. Global Dairy Alternatives (Plant-Based Milk) Market

3. Global Dairy Alternatives (Plant-Based Milk) Volume

4. Market Share - Global Dairy Alternatives (Plant-Based Milk)

4.1 By Source - Soy Milk, Almond Milk, Rice Milk & Others

4.2 By Region - North America, Asia Pacific, Europe & ROW

4.3 By Application - Beverages & Food

5. By Source - Global Dairy Alternatives (Plant-Based Milk) Market

5.1 Soy Milk

5.2 Almond Milk

5.3 Rice Milk

5.4 Coconut Milk

5.5 Others

6. Market by Product

6.1 Flavored Milk

6.2 Unflavored/Regular Milk

7. Market by Nature

7.1 Organic Milk

7.2 Conventional (in-organic) Milk

8. Market by Sales Channel

8.1 Direct Sales (B2B)

8.2 Indirect Sales (B2C)

9. By Region - Global Dairy Alternatives (Plant-Based Milk) Market

9.1 North America

9.2 Asia Pacific

9.3 Europe

9.4 Rest of the World

10. By Application - Global Dairy Alternatives (Plant-Based Milk) Market

10.1 Food

10.2 Beverages

11. By Source - Global Dairy Alternatives (Plant-Based Milk) Volume

11.1 Soy Milk

11.2 Almond Milk

11.3 Rice Milk

11.4 Coconut Milk

11.5 Others

12. By Region - Global Dairy Alternatives (Plant-Based Milk) Volume

12.1 North America

12.2 Asia Pacific

12.3 Europe

12.4 Rest of World ROW

13. By Application - Global Dairy Alternatives (Plant-Based Milk) Volume

13.1 Food

13.2 Beverages

14. Companies Profile

14.1 Hain Celestial Group Inc.

14.2 Blue Diamond Growers Inc.

14.3 SunOpta Inc.

14.4 Freedom Foods Group Limited

14.5 Vitasoy International Holdings Limited

14.6 Kikkoman

15. Dairy Alternatives (Plant-Based Milk) Market Drivers

15.1 Growing Inclination toward Vegan, Especially Plant-Based Food

15.2 Growing Lactose Intolerance among a large section of the Population

15.3 Innovation in Flavours and Sources of Dairy Alternatives Beverages

15.4 Increasing Awareness about Dairy Alternatives products and their Benefits

16. Dairy Alternatives (Plant-Based Milk) Market Challenges

16.1 High cost of Dairy Alternatives milk compared to conventional milk

16.2 Fluctuations in Raw Materials and Scarcity of Raw Materials

For more information about this report visit https://www.researchandmarkets.com/r/r2ekmr

View source version on businesswire.com:https://www.businesswire.com/news/home/20200130005497/en/

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SOURCE: Research and Markets

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PUB: 01/30/2020 08:46 AM/DISC: 01/30/2020 08:46 AM