Dairy Alternative Beverages Market is Expected to Witness a Steady Growth by 2021
Dairy alternative beverages are the plant-based milk that processes through nuts, cereals and seeds. Vegans, dairy intolerant and people with milk allergies primarily consume dairy alternative beverages. Dairy alternative beverages are plant-based beverage thus contain low cholesterol levels. The global dairy alternative beverages market is segmented into various divisions such as soya milk, almond milk, oat milk, coconut milk, hemp milk, hazelnut milk and rice milk. These are some of the major substitutes for milk, which are widely consumed by many individual across the globe. These dairy alternative beverages products are widely distributed through supermarkets, health food stores, pharmacy, convenience stores and e-retailers. Dairy alternative beverages are available in various formulations including flavored, plain, fortified sweetened and unsweetened. The largest sales of dairy alternative beverages products were recorded from supermarkets in 2012.
Among the various alternative segment of dairy alternative beverage soya milk contributes the largest share in global dairy alternative beverages markets. The demand of almond milk is also gaining popularity due to its additional health benefits such as high content of vitamins and calcium. This helps in the growth of dairy alternative beverages markets worldwide. Now a days, many people are adopting vegan diet due to their ethical concerns about animal rights, protecting the environment, and help in saving the planet. Veganism has become a lifestyle choice among many individuals and this is gaining popularity day by day. According to People for the Ethical Treatment of Animals (PETA), about 2.5% of the U.S. population is vegan. Such trends would also help in the growth of global dairy alternative beverage market.
Increase in awareness level and rising health concerns issue are the two main issue which leads to drive the global dairy alternative beverages market. The threat of cross-contamination of raw materials is major challenge that limits the growth of dairy alternative beverage market. This acts as a restrain for global dairy alternative beverage market.
Asia Pacific region is the largest market for dairy alternative beverages and growing health concern issue, rising population, increase in disposable income level are some of the key issue which lead to boost the market in many Asia Pacific countries. Countries such as India and China with large population base become the prominent market for the growth of dairy alternative beverages. North America is the second largest market of dairy alternative beverage after Asia Pacific region. In North American countries, the U.S. holds the largest market share of dairy alternative beverage.
After North America, Europe is one of the growing markets of dairy alternative beverage. The global dairy alternative beverage market is expected to witness double-digit growth during the forecasted period 2014- 2020.
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Some of the major companies operating in global dairy alternative beverages market are Blue Diamond Growers Inc., Earth's Own Food Company Inc., Eden Foods Inc., Freedom Foods Group Ltd., Organic Valley Family of Farms, Grupo Leche Pascual Sa, Living Harvest Foods Inc., Nutriops S.L., OATLY AB, Pacific Natural Foods, Panos Brands LLC, Pureharvest, Sanitarium Health & Wellbeing Company, Stremicks Heritage Foods, Sunopta Inc., The Bridge S.R.L., The Hain Celestial Group Inc., The Whitewave Foods Company, Turtle Mountain Llc and Vitasoy International Holdings Limited.