DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "North America Dairy Alternatives Market - Growth, trends & Forecasts (2016 - 2021)" report to their offering.
The US market of dairy alternative was projected to be $4.8 billion in 2014.
The North America market is large consumer of dairy alternative and will grow in the forecast year, playing a major role in the global CAGR of 14.7%, during 2015-2020.
Dairy alternative products are commonly referred to as plant-based products that are processed through seeds, cereals and nuts. These are low on cholesterol and have low fat content. Due to the health benefits associated with it, there are a large number of people switching to dairy alternatives. The market for plant-based dairy alternative beverage grows with the increasing demand for healthy products and support from the government and health associations.
The Hispanic and Asian-American populations, which have a higher incidence of lactose intolerance, are growing faster than the total U.S. population, thus, becoming the major deriving force for the market to grow in the coming years. North American dairy market exhibits sluggish growth owing to the weak domestic demand for dairy products and more attraction for dairy alternatives and lactose free products. Falling milk prices have increased the supply of dairy products in the North-American market.
Soy milk has the largest market for dairy alternative beverages in North America, but faces tougher competition from other dairy alternative beverages such as almond milk, rice milk, and so on. Rice, hazelnut, and hemp milk are also growing in the dairy alternative market as they have calcium content and other nutritional benefits similar to that of soy milk. Soy and almond milk are the most preferred milk alternatives in the U.S. Almond milk dollar sales rose 46 percent, and coconut milk dollar sales grew by 35 percent, in past five years.
Consumers' desire to experiment with different varieties could be a contributing factor. However, among the various dairy alternatives â soy, almond, coconut and rice milk, soy milk is the best alternative product for children and males. It is causing a shakeup in the dairy alternatives market.
Thus, major players are investing in innovation with natural sweeteners and new flavours and supporting stronger growth of the market. Major companies in dairy alternative manufacturing are based in North America, such as Whitewave Foods Company, Hain Celestial Group, Blue Diamond Growers Inc. and others.
Key Topics Covered:
2. Key Findings
3. Market Overview
4. Market Segmentation
5. Competitive Landscape Overview
6. Company Profiles
- Daiya Foods Inc.
- Earth's Own Food Company Inc.
- Panos Brands LLC.
- Eden Foods Inc.
- Freedom Foods Group Ltd.
- Blue Diamond Growers Inc.
- The Hain Celestial Group Inc.
- The WhiteWave Foods Company
- Sanitarium Health & Wellbeing Company
- Sunopta Inc.
- Archer Daniels Midland Company
- Nutriops S.L.
For more information about this report visit http://www.researchandmarkets.com/research/4mdpcq/north_america