DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
This report provides an in-depth analysis of dairy alternatives in five major geographies and emphasizes on the current market trends, market size, recent developments, and forecast till 2027. The global dairy alternatives market is expected to grow at a CAGR of 11.2% from 2020 to 2027 to reach $44.9 billion by 2027.
The growth projections of this market are mainly attributed to factors such as the increasing intolerance for animal-based dairy products, nutritional benefits offered by plant-based dairy products, growing investments into the dairy alternatives market space, and increasing vegan and vegetarian population. Moreover, the growing demand for vegan products from emerging economies in 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 study offers a comprehensive analysis of the global dairy alternatives market with respect to product type (plant-based milk (almond milk, soy milk, coconut milk, rice milk, and others), cheese, yogurt, butter, ice-cream, creamer, and others), by source (almond protein, soy protein, wheat protein, pea protein, rice protein, and others), by distribution channel (business to business and business to customers (modern groceries, convenience store, specialty store, online retail, and others)), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Key questions answered in the report:
- What is the current value of revenue generated by dairy alternatives across the globe?
- At what rate the demand for 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 levels? What are the major opportunities for existing market players and new entrants in the market?
- What impact does the current COVID-19 pandemic have on the dairy alternatives market?
- How is the investment scenario and venture capital funding trends in to the dairy alternatives market across the globe?
- 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 space?
- What recent developments have taken place in the global dairy alternatives market and What impact these strategic developments are creating on the global market?
Market Dynamics
Drivers
- Increasing Intolerance for Animal Proteins
- Nutritional Benefits of Plant-Based Dairy Products
- Growing Investments
- Increasing Vegan and Vegetarian Population
Restraints
- Consumer Preference for Animal-Based Products
- Growing Preference for Soy and Gluten-Free Products
Opportunities
- Emerging Economies
Trends
- Mergers and Acquisitions
Companies Mentioned
- 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)
- Freedom Foods Group Limited (Australia)
For more information about this report visit https://www.researchandmarkets.com/r/jqz6ms
