Market outlook of dairy alternative drinks
Technavio market research analyst predicts the global dairy alternative drinks market to grow steadily at a CAGR of approximately 15% between 2015 and 2019. The nutritional benefits of dairy alternative drinks are the key growth drivers of this market. Dairy alternative drinks are plant-based milk made from cereals, nuts, and seeds. Health issues such as lactose intolerance, milk allergy, and the genetic disorder such as Phenylketonuria can be resolved by taking dairy alternative beverages as these are plant based milk and are free from animal proteins. Moreover, they have low-fat and low-cholesterol levels, making them a popular choice for health-conscious consumers and vegans.
The growing demand for almond milk is expected to aid the market growth during the forecast period Almond milk is a good source of unsaturated fats, is rich in proteins and omega fatty acids, and is derived from natural almond oils. It helps in improving vision, strengthens the bone, maintains cardiovascular health, building strong muscles, aids in controlling the blood pressure, and can also be used as a substitute for breast milk.
Product segmentation and analysis of the dairy alternative drinks market
Others (coconut milk, hazelnut milk, hemp milk, and oat milk)
The almond milk segment dominated the market during 2014, accounting for a market share of around 38%. Almond milk aids in improving the immune function and helps in reducing the risk of osteoporosis. Moreover, it contains no hormones and is prescribed by dermatologists to patients with acne.
Geographical segmentation and analysis of the dairy alternative drinks market
APAC accounted for around 45% of the market share during 2014 and is expected to retain its market leadership until the end of the forecast period. The market is witnessing a huge demand for dairy alternative drinks from developing countries such as China, India, and Indonesia. The high demand for dairy alternative beverages coupled with the increasing number of people with dairy allergies is expected to drive the market growth in this region.
Competitive landscape and key vendors
The global dairy alternative drinks market is fragmented with small and large vendors. The manufacturers of the products compete on the basis of added health benefits, product differentiation, category extension, and innovation in product and pricing. The competition in the market is expected to intensify further during the forecast period due to the introduction of new product developments.
The leading vendors in the market are -
Blue Diamond Growers
Earth's Own Food
Living Harvest Foods
The other prominent vendors in the market include Grupo Leche Pascual Sa, Oatly AB, Pacific Natural Foods, Panos Brands, Stremicks Heritage Foods, SunOpta, Turtle Mountain, and Vitasoy International.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the global dairy-alternative drinks market?
What are the key market trends impacting the growth of the dairy alternative drinks market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global dairy-alternative drinks market?
Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW?
What are the key outcomes of the five forces analysis of the dairy alternative drinks market?
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