Dairy Alternatives Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR45254
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The dairy alternatives market has the potential to grow by USD 11.12 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 10.27%.

This dairy alternatives market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (beverages-based dairy alternatives and food-based dairy alternatives) and geography (APAC, North America, Europe, South America, and MEA). The dairy alternatives market report also offers information on several market vendors, including American Soy Products Inc., Blue Diamond Growers, Campbell Soup Co., Danone SA, Kikkoman Corp., Nestle SA, Sanitarium Health Food Co., SunOpta Inc., Valsoia Spa, and Vitasoy International Holdings Ltd. among others.

What will the Dairy Alternatives Market Size be in 2021?

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Dairy Alternatives Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growth of organized retail sector is notably driving the dairy alternatives market growth, although factors such as distribution challenges in packaged food and beverages sector may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the dairy alternatives industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The growth of the organized retail sector is expected to fuel the growth of the market during the forecast period.
  • Hypermarkets and supermarkets are the two major offline distribution channels for dairy alternatives.
  • Organized retailing is an integral part of offline distribution channels, which facilitates the purchasing process for consumers and enables them to choose from a diverse range of dairy alternatives.
  • Tesco Plc (Tesco), Target Brands Inc. (Target), and ALDI Inc. (ALDI) are some of the major hypermarkets and supermarkets that offer a plethora of packaged foods and beverages, such as dairy alternatives.
  • An increase in the number of organized retailers that offer shelf space for branded and private-label dairy alternatives is expected to drive the growth of the market during the forecast period. 
  • The growing demand for organic dairy alternatives from consumers across the world is expected to propel the growth of the market during the forecast period.
  • Consumers prefer organic dairy alternatives that are strictly monitored by regulatory bodies. Organic dairy alternatives offered by vendors are monitored by regulatory bodies, such as the United States Department of Agriculture (USDA) and the Non-GMO Project.
  • Consumers prefer organic dairy alternatives, as these products do not contain any synthetic additives and are perceived as not having any side effects on their regular consumption.
  • Vendors that offer dairy alternatives provide complete product information to consumers on the packaging, including the list of ingredients, as well as the sources of fruits and ingredients.

This dairy alternatives market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Dairy Alternatives Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • American Soy Products Inc.
  • Blue Diamond Growers
  • Campbell Soup Co.
  • Danone SA
  • Kikkoman Corp.
  • Nestle SA
  • Sanitarium Health Food Co.
  • SunOpta Inc.
  • Valsoia Spa
  • Vitasoy International Holdings Ltd.

 

This statistical study of the dairy alternatives market encompasses successful business strategies deployed by the key vendors. The dairy alternatives market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The dairy alternatives market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Dairy Alternatives Market?

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48% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for dairy alternatives in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The rising disposable income in developing economies and the increasing number of organized retailing outlets like hypermarkets, supermarkets, convenience stores, and food specialist stores will facilitate the dairy alternatives market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Dairy Alternatives Market?

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The dairy alternatives market share growth by the beverages-based dairy alternatives segment will be significant during the forecast period. Beverages-based dairy alternatives market includes products based on non-dairy milk like soy milk, almond milk, rice milk, oat milk, coconut milk, hemp milk, and other plant-based milk (products include flavored milk, milk shakes, energy drinks, and fruit mixes). The increasing number of new product launches and the growing consumer awareness of the health benefits of products featuring almond milk, rice milk, coconut milk, and soy milk are the major drivers, which are estimated to impact the growth of the beverages-based dairy alternatives market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the dairy alternatives market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Dairy Alternatives Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive dairy alternatives market growth during the next five years
  • Precise estimation of the dairy alternatives market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the dairy alternatives industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of dairy alternatives market vendors

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Dairy Alternatives Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10.27%

Market growth 2021-2025

$ 11.12 billion

Market structure

Fragmented

YoY growth (%)

8.87

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 48%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

American Soy Products Inc., Blue Diamond Growers, Campbell Soup Co., Danone SA, Kikkoman Corp., Nestle SA, Sanitarium Health Food Co., SunOpta Inc., Valsoia Spa, and Vitasoy International Holdings Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The dairy alternatives market market growth will increase by $9295.50 million during 2019-2024.
The dairy alternatives market market is expected to grow at a CAGR of 9.57% during 2019-2024.
Technavio has segmented the dairy alternatives market market by product (Beverages-based dairy alternatives and Food-based dairy alternatives) and geographic (APAC, North America, Europe, South America, and MEA).
Blue Diamond Growers, Campbell Soup Co., Danone SA, Kikkoman Corp., Nestle SA, PepsiCo Inc., Sanitarium Health Food Co., SunOpta Inc., Valsoia Spa, Vitasoy International Holdings Ltd. are a few of the key vendors in the dairy alternatives market market.
APAC will register the highest growth rate of 47.47% among the other regions. Therefore, the dairy alternatives market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the dairy alternatives market market growth are:
  • Growth of organized retail sector
The dairy alternatives market market vendors should focus on grabbing business opportunities from the beverages-based dairy alternatives segment as it accounted for the largest market share in the base year.
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