Global Dairy Alternatives Market: size was valued at US$ 20.4 Billion in 2020 and the global Dairy Alternatives revenue is expected to grow at 12.5% through 2021 to 2027, reaching nearly US$ 46.53 Billion.
Global Dairy Alternatives Market Overview:
The market report for Global Dairy Alternatives Market includes information on market share and company profiles for the leading international competitors along with a thorough analysis of the competition. The scope of the study includes a complete examination of the Global Dairy Alternatives Market as well as the factors influencing regional variations in the growth of the industry.
The major driver in the dairy alternatives market is the rising number of milk-allergic consumers and lactose-intolerant consumers around the globe. The common systems of lactose intolerance are indigestion, abdominal pain. Experts estimate that about 65% of the total world population has lactose mal-absorption. The rising awareness about lactose intolerance among global consumers is expected to propel market growth in the forecast period (2021-2027).
After market engineering, which included market statistics calculations, market size estimations, market predictions, market breakdown, and data triangulation, was complete, extensive primary research was carried out to gather data and confirm important figures. Throughout the market engineering process, top-down, bottom-up, and other data triangulation methodologies were routinely employed to conduct market estimates and forecasting for the general market segments and sub-segments detailed in this study. In order to provide vital information during the study, all data collected during the market engineering process is submitted to comprehensive qualitative and quantitative analysis.
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Global Dairy Alternatives Market Segmentation:
By Source, the Almond milk segment dominated the dairy alternative market in the year 2020 followed by soy milk. This can be attributed to the growing popularity of almond milk among vegan consumers around the globe. Another reason for the popularity and demand for almond milk in the global market is the health benefits it has to offer. It helps to relieve the symptoms of diseases related to the kidney and heart. That’s why the patients who are recommended a ketogenic diet by their doctors prefer almond milk.
The soy milk segment is expected to witness a high CAGR in the forecast period (2021-2027). This can be attributed to the easy availability of raw materials in the making of soy milk. i.e. milk and water. However, that is not the case when it comes to the growth of the oatmeal segment. The presence of cardio-protective omega-three fatty acids in soy milk is expected to contribute to the overall growth of the market in the aforementioned forecast period.
Global Dairy Alternatives Market Key Players:
• Freedom Foods Group
• Eden Foods
• Nutriops S.L.
• Earths Own Food Company
• Triballat Noyal
• Valsoia S.P.A
• Dohler GmBh
• Organic Valley
• Panos Brands
• Living Harvest Foods Inc.
• Kikkoman Corporation
• Rebel Kitchen
• Melt Organic
• Daiya Foods Inc.
• Califia Farms
• Hudson River Foods Inc.
• Kite Hill
To identify the market’s leaders and project market revenue, primary and secondary research are both used. CEOs, marketing executives, and seasoned front-line employees were just a few of the notable thought leaders and subject matter experts that participated in the in-depth interviews for the main study. As a part of the primary study, extensive interviews with important thought leaders and business experts—including CEOs, marketing executives, and seasoned front-line staff—were conducted.
The secondary study included a review of the annual and financial reports of the major manufacturers. Secondary data is employed to calculate percentage splits, market shares, growth rates, and global market breakdowns. The results of these calculations are then put up against the original data in comparison. The Global Dairy Alternatives market is dominated by the following businesses:
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The regional market research report for Global Dairy Alternatives also includes information on the specific market driving forces and changes in market legislation that have an impact on current and future market trends. Current and forthcoming trends are studied in order to evaluate the potential market as a whole and find profitable patterns to lay a stronger foundation. The evaluation of the regional market is built on the basis of the current environment and expected trends.
COVID-19 Impact Analysis on Global Dairy Alternatives Market:
A stop in activities between January 2020 and May 2020 resulted in a fall in the growth of end-user industries utilising Global Dairy Alternatives. These countries included Spain, France, Italy, China, the United States, the United Kingdom, and Spain. The market for Global Dairy Alternatives manufacturers as well as the profits of companies operating in these sectors consequently experienced a sharp decline. This affected the market’s growth in 2020. Due to lockdowns and an increase in COVID-19 occurrences globally, end-user business demand for Global Dairy Alternatives has been severely decreased.
Key Questions Answered in the Global Dairy Alternatives Market Report are:
- Which market segment has the highest percentage of Global Dairy Alternatives in 2021?
- To what extent is there competition in the market?
- What are the primary factors influencing the growth of the Global Dairy Alternatives market?
- What portion of the market does region Global Dairy Alternatives control?
- What is the expected market CAGR from 2022 to 2029?
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