Cashew milk is useful in boosting the tryptophan hormone which increases serotonin production in the brain. Soy milk also has various advantages such as a good source of protein which is the supply of calcium in the body, lactose-free, natural product. Coconut milk is another type of dairy alternatives which have numerous advantages such as highly nutritious, rich in fiber and a good source of vitamin C,E,B1,B3,B5,B6 and another essential mineral include iron, selenium, sodium, calcium, magnesium, phosphorus. Rice milk is also the widely used type of dairy alternatives which have a number of advantages include a good source of protein, calcium, vitamin, minerals without the saturated fat and calories. Oat milk is also the type of dairy alternatives which have different advantages include gluten free, the great source of vitamin, minerals, and antioxidants.
Global Dairy Alternative Market is expected to reach USD 28,336.61 million by 2026 and is projected to register a healthy CAGR of 9.1% in the forecast period of 2019 to 2026.
Segmentation: Global Dairy Alternative Market
Global dairy alternatives market is segmented into seven notable segments which are product type, type, formulation, application, nutritive, distribution channel, brands.
- On the basis of product type, the market is segmented into almond milk, soy milk, coconut milk, rice milk, oat milk, cashew milk and others. In 2019, the almond milk growing at the highest CAGR of 10.5% in the forecast period 2018-2025.
- In August, Kite Hill(U.S.) launched squeezable vegan yogurt tubes dairy free brand at whole food market in the country.
- On the basis of type, the market is segmented into organic and inorganic, in 2018, organic is expected to reach USD 11,043.04 million by 2025, with the highest CAGR of 9.9% in the forecast period of 2018 to 2025.
- In May Blue Diamond Growers (U.S.) launched almond breeze in brazil market. By this product launched company explored business in the market.
- On the basis of formulation, the ve market is segmented into plain & sweetened, plain & unsweetened, flavored & sweetened, flavored & unsweetened and others. The plain & sweetened segment market growing at the highest CAGR of 10.0% in the forecast period of 2018-2025.
- In August, Vitasoy International Holdings Limited (Hong Kong) launched high calcium plant milk in Australia. On international World Plant Milk Day company launched this product and shared health benefits of plant milk.
- On the basis of application, market is segmented into food, beverages. The food segment market growing at the highest CAGR of 9.7% in the forecast period 2018 to 2025.
- In November, VALSOIA S.P.A (Italy) launched two almond gelato formats. It is 100% dairy free product. This product name was Il Gelato auf basis von mandeln 4 ministicks and Il Gelato auf basis von mandeln 8 Sandwich.
- On the basis of nutritive component, the market is segmented into protein, starch, vitamins, others. In 2018, protein segment growing with the highest CAGR of 9.9% in the forecast period 2018 to 2025.
- In June, Ripple Foods (U.S.) launched vegan green yoghurt which is made from pea protein .It is plant based milk.
- On the basis of distribution channel, the market is segmented into supermarkets/hypermarkets, specialized store, online, others. In 2018, online segment is growing with the highest CAGR of 10.3% in the forecast period of 2018 to 2025.
- In February, Yoconut Dairy Free (U.S.) developed a lean business model for the customer satisfaction. By this business model company wanted to get the customer stratification.
Competitive Analysis: Global Dairy Alternative Market
Some of the prominent participants operating in this market are The Whitewave Foods Company, Kite Hill, Oalty, Blue Diamond Growers, Earth's Own Food Company Inc., Sunopta, Pureharvest, Pacific Foods Of Oregon, Inc., Sanitarium, Hain Celestial And Others
Product Launch:
- In August, Vitasoy International Holdings Limited (Hong Kong) launched high calcium plant milk in Australia. On international World Plant Milk Day company launched this product and shared health benefits of plant milk.
- In November, VALSOIA S.P.A (Italy) launched two almond gelato formats. It is 100% dairy free product. This product name was Il Gelato auf basis von mandeln 4 ministicks and Il Gelato auf basis von mandeln 8 Sandwich.
- In May, Ripple Foods (U.S.) launched travel friendly kids pack. It is available in chocolate, vanilla, original, unsweetened original flavor.
- In May, Ripple Foods (U.S.) launched pea based vegan milk. It is made from non GMO pea protein and allergen free.
Research Methodology: Global Dairy Alternative Market
Primary Respondents: OEMs, Manufacturers, Engineers, Industrial Professionals.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers
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