Meticulous Research® – leading global market research company, published a research report titled “Dairy Alternatives Market by Product Type (Plant Milk, Cheese, Yogurt, Butter, Ice Cream), Source (Almond Protein, Soy Protein, Wheat Protein), and Distribution Channel (Business to Business and Business to Customers) – Global Forecast To 2027”.
According to this latest publication from Meticulous Research®, the global dairy alternatives market is expected to grow at a CAGR of 11.2% from 2020 to 2027 to reach $44.89 billion by 2027. The high growth of the dairy alternatives market is mainly attributed to increasing intolerance for animal proteins, nutritional benefits offered by plant-based dairy products, growing investments in dairy alternatives, and increasing vegan and vegetarian population. Moreover, the growing demand for vegan products from emerging economies from Asia-Pacific, Latin America, and the Middle East & Africa is expected to create lucrative opportunities for players operating in this market. However, the preference for animal-based products and growing preference for soy and gluten-free products are expected to hamper the adoption of dairy alternatives to some extent.
The global dairy alternatives market study presents historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of product type, source, distribution channel, and geography. The study also evaluates in detail the industry competitors and analyses the market at a country level.
Key Players:
The key players operating in the global dairy alternatives market are Danone SA (France), Follow Your Heart (U.S.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Sanitarium health and wellbeing company (Australia), AXIOM Foods, Inc. (U.S.), Daiya Foods, Inc.(Canada), Earth's Own Food Company, Inc. (Canada), VBItes Food, Ltd. (U.K.), SunOpta Inc. (Canada), Valsoia SpA (Italy), and Freedom Foods Group Limited (Australia).
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Key questions answered in the report-ss
• What is the current value of revenue generated by dairy alternatives across the globe?
• At what rate the demand for global dairy alternatives is projected to grow for the next 5-7 years?
• What is the historical market size and growth rate for dairy alternatives across the globe?
• What are the major factors impacting the growth of this market at the global and regional level? What are the major opportunities for existing market players and new entrants in this market?
• What impact does the current COVID-19 pandemic have on the dairy alternatives market?
• Which segments in terms of the product type, source, and distribution channel create the major traction for the vendors in this market?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the global dairy alternatives market?
• Who are the major players in the global dairy alternatives market? And also, what are their specific product/service offering in this market?
• What recent developments have taken place in the global dairy alternatives market and how these strategic developments create a global impact in this market?
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