Dairy Alternatives Market 2019
The dairy alternative market is one of the fastest-growing industries. It promises to expand as the most influential market since the dairy alternatives industry has been playing a crucial role in creating a positive impact on the national and international economy. One of the factors that have been contributing to the continuous expansion of this market is the expanding awareness of consumers towards the dairy alternatives. These consumers are getting more inclined towards a vegetarian diet, and also towards and the lactose intolerance.
Market Segment by Key vendors, this report covers
Blue Diamond Growers (BDG)
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Lactose tolerance being one of the reasons for dairy alternative market expansion, is now a trend. The majority of the worldwide population is now demanding different forms of fortified dairy products and beverages. The same applies to the growth of this market. The increasing cost of these products like dairy alternative milk is, however, a factor that is slowing the market growth to some extent. Another factor that contributes to this is the prominence of low cholesterol levels and poor conventional milk.
However, continuous research and development in the global dairy alternative market and continuous innovate approaches in the innovation of sources and flavor of dairy alternative products and beverages is increasing the demand for such products. Some of the products that are gaining maximum attention and have a huge demand in most of the American, European, and African countries are rice milk, soy milk, almond milk, and milk proteins; all of these are providing a wide opportunity for the market growth.
The market of dairy alternatives can be segmented into different parts. It is chiefly accounted for as the largest market in dairy due to the availability of soy milk. Hence, one of the categories of soy milk next is almond milk. But the segmentation can also be done based on type of food, it can be food like soy, and liquid-like soy milk. It can be sweetened or sugar-free product as well. The plain and unsweetened dairy alternative product holds a major section of the alternative dairy market, which makes the market expect high growth.
The market of dairy alternatives can be chiefly classified into five main regions, mainly Asia-Pacific, Europe, North America, South America, Africa, and the Middle East region. Among all these regions, major demands for this product in the North American region is in Oklahoma, North Dakota, Kansas, Colorado, Wyoming, New Hampshire, Alaska, Oregon, New Jersey, and Hawaii. In Europe, high demand and high consumption are in France, Belgium, Portugal, Spain, Andorra, the Netherlands, Luxembourg, and Monaco, Italy, Malta, Iceland, Norway, Sweden, Finland, and Denmark, San Marino, and Vatican City.
In Britain, a large section of people is option plant-based milk as the dairy alternative product, which is showing a 6% better ROI than the traditional dairy product. Meanwhile, dairy consumption has been reducing, with each generation drinking or eating even lesser milk and milk products. It is also because of a certain changes in the culinary taste.
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