According to IMARC Group’s latest report, titled “Dairy Alternatives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global dairy alternatives market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global market to grow at a CAGR of around 12% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Dairy alternatives are dairy-free food and beverage products that are sourced from plants. They are gaining widespread popularity among the masses as the preferred alternative for conventional animal-based milk and milk products. Widely obtained from soy, rice, oats, almond, cashew and coconut, these products are characterized by a similar taste and texture to the traditional dairy products. They are rich in iron, iodine, zinc, calcium, riboflavin, vitamins, minerals, magnesium and potassium with low levels of fat and calories. Consequently, their regular consumption offers numerous health benefits, including repairing damaged cells, maintaining a healthy weight and improving the bone structure.
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The increasing number of lactose-intolerant individuals across the globe, along with the rising prevalence of chronic medical ailments, is primarily driving the growth of the dairy alternatives market. Moreover, there has been a considerable rise in the adoption of veganism, supported by the changing dietary preferences and inflating disposable income levels of the masses, which is providing a boost to the sales of dairy alternatives. Also, numerous key players are introducing flavored, sweetened and unsweetened product variants in the market in order to cater to the diverse consumer preferences. This, coupled with the continual investments in the production processes to enhance the yield, nutritional content and shelf life of these dairy substitutes, is expected to create a positive outlook for the market.
Dairy Alternatives Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the dairy alternatives market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the global dairy alternatives market on the basis of source, formulation, nutrient, distribution channel, product type and region.
Breakup by Source:
Breakup by Formulation:
Breakup by Nutrient:
Breakup by Distribution Channel:
Breakup by Product Type:
Breakup by Region:
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Key highlights of the report:
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