Dairy Alternatives Market to grow at 11.5% CAGR by 2026
" COVID-19 impact on Dairy Alternatives market, size, share, growth, industry analysis and forecast 2020-2026 "
Dairy alternatives, otherwise known as milk substitutes, are the milk extracted from plants and mostly preferred by vegan consumers as a substitute to dairy milk. The plant-based product's sources of milk include soy, oat, almond, coconut, hemp, rice, barley, and others. These products do not only act as alternatives but are also very beneficial for the health.
As per the research on dairy alternatives, based on a company's performance, the returns on almond milk, soy milk, rice milk, etc., are high compared to conventional milk and milk products. This has detained the attentiveness of start-ups and food companies, eventually increasing the dairy alternatives market's growth. Moreover, the increasing awareness about the vegan diet among the public and the benefits of adoption of a vegan diet is also propelling the market growth.
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The beneficial marketing and precise positioning of dairy alternatives are providing the opportunity and encouragement to the manufacturers of the dairy alternative products. Along with that, the changes in lifestyles are also providing the opportunity for market growth.
The Dairy Alternatives Market research report titled “Dairy Alternatives Market by Source, Application, Formulation, and Geography - Forecast up to 2026”
The key vendors of the dairy alternatives market are The White Wave Foods Company, Blue Diamond Growers, Green Spot Co., Ltd, Freedom Foods Group Limited, and Earth’s Own Food Company Inc.
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As per the region, the Asia Pacific is holding the major share in the market. The major share is ascribed to the increase in the population along with their disposable income, rising demand for lactose-free milk for children, pregnant and lactating women. Also, increasing consciousness about health, fitness, nutritional and healthy products are fueling the demand for these products in this region.
The report consists of 106 Tables and 69 charts depicting the in-depth market study and the impact analysis of COVID-19. View detailed TOC here.
Dairy Alternatives Market by Source
Dairy Alternatives Market by Application
- Ice Creams
Dairy Alternatives Market by Formulation
Dairy Alternatives Market by Geography
- North America
- Asia Pacific
- Rest of the World