Press release
Dairy Alternatives Market 2020-2030: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast | Tate & Lyle, CP Kelco Inc., SunOpta Inc., The Whitewaves Food Company (US), Organic Valley (US)
Dairy Alternatives Market
The global dairy alternatives market is expected to grow from $19.27 billion in 2019 and to $19.67 billion in 2020 at a growth rate of 2.08%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach $26.86 billion in 2023 at CAGR of 10.94%.
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The dairy alternatives market consists of sales of dairy alternative products and related services. Dairy alternatives are food & beverages that are used as a substitute for dairy products. These products are extracted from plants including cereals (rice, oats), legumes (soy), seeds (hemp, flax), nuts (peanuts, almond), and other grains (teff, quinoa). The dairy milk alternatives include soy milk, rice milk, oat milk, coconut milk, and flaxseed milk, cheese substitutes comprise soft cheese and hard cheese, butter alternatives such as nut butter, coconut butter, vegetable oil blends, and cultured vegan butter.
Increasing cases of lactose intolerance and milk allergies are projected to contribute to the dairy alternatives market growth. Lactose intolerance or congenital lactase deficiency is a situation wherein small intestine is incapable of making enzyme lactase to break down or digest lactose, moving undigested lactose to large intestine causing symptoms such as diarrhea, gas, and bloating. According to Cleveland Clinic, more than 30 million people in America are lactose intolerant. This scenario is likely to generate higher demand for dairy alternatives, which in turn, is anticipated to boost the revenues for dairy alternatives market over the forecast period.
Dairy Alternatives Market Segmentation: -
By Product Type
Non-dairy Milk
Butter
Cheese
Yogurts
Ice cream
Others
By Source
Almond
Soy
Oats
Hemp
Coconut
Rice
Others
By Distribution Channel
Supermarkets
Health Food stores
Pharmacies
Convenience Stores
Online stores
Others
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Few Points From Table Of Content
1. Executive Summary
2. Dairy Alternatives Market Characteristics
3. Dairy Alternatives Market Size And Growth
4. Dairy Alternatives Market Segmentation
5. Dairy Alternatives Market Regional And Country Analysis
......
25. Dairy Alternatives Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Dairy Alternatives Market
27. Dairy Alternatives Market Trends And Strategies
28. Dairy Alternatives Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Dairy Alternatives Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Dairy Alternatives Market are Tate & Lyle, CP Kelco Inc., SunOpta Inc., The Whitewaves Food Company (US), Organic Valley (US), The Hain Celestial Group (US), Blue Diamond Growers (US), Sunopta (Canada), Archer Daniels Midland Company
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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