Press release
Dairy Alternatives Market: North America to dominate the market throughout the assessment period
Other important reason for the boost in the dairy alternatives market is the growing lactose intolerance and milk allergy amongst the masses. In addition, with the increase in the incidences of gastrointestinal diseases, consumers are sidestepping dairy products and this is the reason for the growth of the dairy alternatives market. Moreover, increased disposable income and rising population, especially in developing nations present a huge opportunity for the dairy alternatives market.
Dairy alternatives are meant to provide an alternative in the form of a liquid to replace the milk sourced from a mammal. This alternative milk in liquid form is whitish in colour and contains similar amount of nutrients like proteins and other vitamins as milk. Such type of dairy alternatives are used to replace milk in tea, coffee or in a recipe.
This Future Market Insights report on the global dairy alternatives market forecasts that the global dairy alternatives market will reach a value of nearly US$ 9,570 Mn in the year 2022 and grow at a robust CAGR during the forecast period.
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North America Market Set to Dominate the Global Dairy Alternatives Market in Terms of Revenue
The market in North America is set to dominate the global dairy alternatives market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America Dairy alternatives market is the most attractive market, growing at a robust CAGR over the assessment period.
Plain Sweetened Product Type Segment Poised to Touch a Value of Nearly US$ 3,500 Mn in 2022
As per the Future Market Insights assessment, the plain sweetened product type segment is expected to reach a value of nearly US$ 3,500 Mn in 2022. This signifies a robust CAGR during the forecast period of 2017-2022.
Plain sweetened product type segment is expected to account for more than one-third of the revenue share of the product type segment by the year 2017 and is expected to gain market share by the end of the year 2022.
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Cheese and Cheese Products Segment to exhibit a CAGR of 7.2% During the Assessment Period
As per the assessment of Future Market Insights, the cheese and cheese products segment is slated to touch a figure of nearly US$ 3,225 Mn in the year 2022. This represents a CAGR of 7.2% during the assessment period from 2017 till the year 2022. This segment is expected to gain market share by the end of the year 2022.
Competition Tracking
The report also profiles companies that are expected to remain active in the expansion of global dairy alternatives market through 2022, which include The Hain Celestial Group, Inc., SunOpta, Inc., Organic Valley Cropp Cooperative, OATLY A.B., Koninklijke Wessanen N.V., Eden Foods Inc., Earth’s Own Food Company Inc., Danone, Califia Farms LLC and Blue Diamond Growers, Inc.
About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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