Dairy Alternatives Market Scope and overview, Segments Analysis and Opportunities 2029

A recent report by Transparency Market Research states that the global dairy alternatives market shall witness a massive 8% CAGR in the tenure of 2019 to 2029. With this rate the experts at Transparency market predicts that the global dairy alternatives market shall reach to the value of 34.6 bn by the end of 2029. This growth of the market is attributed to the growing health concerns and rising awareness of people for fitness. To get into better shape, people are restricting themselves from consuming traditional dairy products, this is also a major factor that is boosting the growth of global dairy alternatives market from 2019 to 2029.

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Hectic Life Schedule of People to Drive the Growth

Today majority of the people are busy running to meet the daily bread. They are so much engulfed in so called rat-race that they oversee the effects of health eating. This as a result is impacting their health in an adverse manner. To avoid missing nutrition and have proper diet, people are inclining toward non-modified convenient food products. This inclination is stimulating the businesses to develop healthy, long lasting and tasty non-dairy products that can help the consumers meet their daily dose of nutrition and keep them healthy. This growth is one of the major factor that is boosting the growth of global dairy alternatives market from 2019 to 2029.

Probiotics' Benefits Further Accelerates the Market Growth

As mentioned, busy life schedule and distressed eating habits, people are facing major functional disorders. Majority of them are affected by stomach oriented disorders that are caused by biologic substances. To prevent this, people are consuming huge amount of probiotic drinks. These drinks allow the players to restore the metabolism and improves the immunity of the consumer. This as a result is influencing the growth of global dairy alternatives market from 2019 to 2029.

Food-Borne Allergies Risk Also Plays an Important Role

Consumers are now highly choosy when it comes to eating. They check entire ingredient of the food product and ensure it lacks the component to which they are allergic to. To minimize the risk of food-borne allergies, the people are actively adopting dairy alternative products. This also serves as a major factor that boosts the growth of global dairy alternatives market from 2019 to 2029.

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Asia Pacific Emerges as the Most Lucrative Region

Dairy industry is highly prominent in Asia Pacific. People consume dairy products on a regular basis as part of their daily meal. However, with growing concerns health and negative impact a dairy product can cause to the health of the consumers, several people of Asia Pacific region are now inclining toward dairy alternatives products. This makes Asia Pacific as one of the fastest growing region of global dairy alternatives market during the projected tenure.

The global dairy alternatives market is segmented on the basis of:

Nature

Organic

Conventional

Source

Soy

Almonds

Rice

Coconut

Oats

Others

Product

Flavored

Regular/Unflavored

Sales Channel

Direct (B2B)

Indirect (B2C)

Hypermarkets/Supermarkets

Convenience Stores

Mass Grocery Retailers

Specialty Stores

Online Retail

Environmental Concerns and Dietary Changes of Consumers Influence Market Growth

The dairy alternatives market has dominated product innovation and grown tremendously in the last couple of years, which has led to a significant threat to the sales of traditional dairy products. However, the growing demand for plant-based foods has given rise to environmental concerns. Manufacturers have to exert tremendous pressure on water resources to cultivate almonds. Also, rice emits the most greenhouse gases, such as methane, due to bacterial activity in flooded rice paddies. The cultivation of soy and oats requires large land areas, thus leading to deforestation.

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Since children are one of the key consumers of dairy alternatives and plant-based milks, the nutritional content of certain plant-based milks do not suffice requirements. For example, almond milk is low in protein, rice milk contains low levels of arsenic, and hemp milk is not easily available in supermarkets and other retail stores. Thus, market players need to consider long-term environmental costs and dietary changes of consumers from dairy to plant-based diets to effectively push the sales of non-dairy products.

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