Global Milk Alternatives Market, By Product Type (Cheese, Creamers, Yogurt, Ice Creams, Milk and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Stores and Others), Nutrient (Protein, Starch, Vitamin and Others), Formulation (Plain and Flavoured), Source (Almond, Soy, Oats, Hemp, Coconut, Rice, Flex and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Milk Alternatives Market
Data Bridge Market Research analyses that the global milk alternatives market will project a CAGR of 11.87% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, growing prevalence of lactose intolerance, rising consumer consciousness towards high quality nutritional products, and increasing personal disposable income by the major companies are the major factors attributable to the growth of milk alternatives market.
From the name itself, it is clear that the milk alternatives are the products that are produced out of plant based ingredients. The major highlight of milk alternatives is that these products are lactose-free, gluten-free, sugar free, and cholesterol free.
Rising demand for milk alternatives owing to the growing awareness about these products are the major factors fostering the growth of the milk alternatives market. Changing lifestyle, westernization, rising demand for value added products, growth in the demand for healthy and gluten-free products in developing regions and ever-rising global population are other important factors acting as milk alternatives market growth determinants. Improving distribution channel, growing focus of the manufacturers on product innovations, rising availability of food products that enhance immune health, surging vegan population and changing tastes and preferences of consumers will further induce growth in the milk alternatives market value.
However, low consumer awareness will pose a major challenge to the growth of the milk alternatives market. Sub-optimal market penetration of the product will further restrict the scope of growth for the milk alternatives market. Fluctuations in the prices of raw materials will also hamper the milk alternatives market growth rate.
This milk alternatives market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on milk alternatives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Milk Alternatives Market Scope and Market Size
The milk alternatives market is segmented on the basis of distribution channel, nutrient, formulation, and source. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of distribution channel, the milk alternatives market is segmented into supermarkets and hypermarkets, convenience stores, online stores and others.
- On the basis of nutrient, the global milk alternatives market is segmented into protein, starch, vitamin and others.
- On the basis of formulation, the global milk alternatives market is segmented into plain and flavoured. Plain segment is sub-segmented into sweetened and unsweetened. Flavoured segment is sub-segmented into sweetened and unsweetened.
- On the basis of source, the global milk alternatives market is segmented into almond, soy, oats, hemp, coconut, rice, flex and others.
Milk Alternatives Market Country Level Analysis
The milk alternatives market is analyses and market size, volume information is provided by country, distribution channel, nutrient, formulation, and source as referenced above.
The countries covered in the milk alternatives market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Asia-Pacific region dominates the milk alternatives market and will continue to during the forecast period owing to the rising demand for milk alternatives owing to the growing awareness about the benefits of such products on consumption. Asia-Pacific is set to undergo substantial gains during the forecast period. This is because of the growing retail sector, globalization, westernization, changing lifestyle, surge in the lactose intolerant population and increasing personal disposable income. Also, rising product innovations by the major manufacturers in regards to flavors will also foster the growth of the market.
The country section of the milk alternatives market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Milk Alternatives Market Share Analysis
The milk alternatives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to milk alternatives market.
The major players covered in the milk alternatives market report are Danone S.A., Vitasoy International Holdings Ltd., FREEDOM FOODS GROUP LIMITED, KIKKOMAN SALES USA, INC., PACIFIC FOODS OF OREGON, LLC., Oatly, Alpina SA, Hain Celestial, Blue Diamond Growers, PureHarvest, Good Karma Foods, McCormick & Company, Incorporated, Alpro, Kite Hill., Earth’s Own Food Company Inc., SunOpta., Sanitarium, Triballat Noyal, Valsoia S.p.A and PANOS brands among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.