Dairy Alternatives Market by Type, Application, Region - 2022

1. MarketsandMarkets Presents Dairy Alternatives Market by Type, Application, Region - 2022

2. The report "Dairy Alternatives Market by Type (Soy, Almond, Coconut, Rice, Oat, Hemp), Formulation (Plain & Sweetened, Plain & Unsweetened, Flavored & Sweetened, Flavored & Unsweetened), Application (Food, Beverages), and Region - Global Forecast to 2022", The dairy alternatives market was valued at USD 7.37 Billion in 2016. It is projected to grow at a CAGR of 11.7% from 2017, to reach USD 14.36 Billion by 2022. The base year considered for this study is 2016, while the forecast period is from 2017 to 2022. The global dairy alternatives market is expanding with considerable growth potential over the next five years. The growth of this market can be attributed to the growing inclination toward vegan, especially plant-based food, growing lactose intolerance among a large section of the population, and rising demand for various innovative dairy-free applications. Make an Inquiry http://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=677

3. This report includes the estimations of the market size in terms of value (USD million) and volume (KT). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global dairy alternatives market and to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research; some of the sources include press releases, annual reports, financial journals, and paid databases such as Factiva and Bloomberg. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. The figure below shows the breakdown of profiles of the industry experts that participated in the primary discussions. The soy milk segment, on the basis of type, accounted for the largest market share in 2016. The dominance of this segment is mainly driven by the surplus soy milk varieties in terms of flavors, blends, fat content, and formulations offered by leading dairy alternative manufacturers. It is also coupled with the increasing awareness about the nutritional benefits of soy-based products, and easy availability of convenient & healthy dairy-free soy milk. The almond milk segment, on the basis of type, accounted for the second-largest share in 2016 owing to its health benefits as well as easy availability of raw materials. The food application of the dairy alternatives market holds the largest market share due to the usage of plant-based ingredients in applications such as cheese, creamer, yogurt, pudding, and ice cream.

4. The Asia-Pacific region accounted for the largest share in 2016 due to the rising consumer demand for plant-based food along with the growing prevalence of lactose intolerance. The food & beverage market in the Asia-Pacific region is currently undergoing a transformation in response to rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector. North America is projected to be the fastest-growing region from 2017 to 2022 due to its large almond milk market, strong inclination toward a vegan diet, and growing number of manufacturers in the region. The market is dominated by key players such as Whitewave Foods (U.S.), The Hain Celestial Group, Inc. (U.S.), Blue Diamond Growers (U.S.), and SunOpta Inc. (Canada). Other players include Freedom Foods (Australia), Eden Foods (U.S.), Nutriops SL. (Spain), Earth's Own Food Company Inc. (Canada), Triballat Noyal (France), Valsoia S.p.A (Italy), and Döhler GmbH (Germany). The key players have adopted strategic developments such as new product launches, acquisitions, joint ventures, expansions, partnerships, and agreements to explore the market in new regions. https://www.marketsandmarkets.com/Market-Reports/dairy-alternative-plant-milk-beverages-market-677.html

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