Report

Global Dairy Alternative Market: By Source: Soy, Almond, Coconut, Rice, Oats, Hemp; By Formulation: Plain, Flavored; By Application: Milk, Ice Creams, Yogurt, Cheese, Creamers; By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Health Stores, Online Retailers; By Region: North America, Europe, Asia Pacific, LATAM, Middle East & Africa; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); SWOT Analysis; Value Chain Analysis; Cost Analysis; Competitive Landscape

Global Dairy Alternative Market Key Insights:

  • Type: Soy, Almond, Rice, Coconut, Hemp, Oats, Others
  • Market Performance & Price Trends 2018
  • Market Analysis & Outlook 2019-2024
  • Trade Data Analysis
  • Demand by Application
  • Demand by Region
  • Competitive Landscape
  • Value Chain Analysis
  • Cost Analysis

 

Market Outlook

The global dairy alternative market attained a value of USD 14.5 billion in 2018. It is expected to witness a further robust growth in the forecast period of 2019-2024, growing at a CAGR of 12%. The market is projected to reach USD 32 billion in 2024. Currently, plant-based dairy alternatives account for nearly 9% of the total sales of milk products globally. Over the past decade, the retail sales of these alternatives have been increasing by 8% per annum. Globally, soy milk accounts for over half the market. It was also the leading dairy alternative product in terms of sale in 2017. However, almond milk is expected to be the fastest growing segment within the industry in the forecast period.

Global Dairy Alternative Market Report and Forecast 2019-2024

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The dairy alternative market in Europe is witnessing the fastest growth among the regional markets. The market is being driven by a rising avoidance of milk products on the continent due to health-related reasons like the avoidance of saturated fat consumption. Animal cruelty and animal rights issues are also major reasons for the avoidance of traditional dairy products in Europe. In Spain, shoppers prefer alternatives to real dairy due to the growing perception that plant-based foods are healthier than animal-based food products.

In the US, the dairy alternative segment is expected to account for almost 40% of the dairy market by 2021. It contributed to a 22% decrease in the consumption of fluid milk in the U.S. between 2000-2016. US consumers prefer alternatives over traditional options due to health reasons like allergies or lactose intolerance. While older shoppers in the US prefer alternatives to dairy due to health concerns like calories and cholesterol, the younger consumers are looking to avoid milk products due to environmental and animal rights issues. Almond-based dairy alternatives have a higher acceptance among American shoppers over other options. In 2017, it had the largest sales value in the US, among other dairy alternatives. Almond milk was followed by coconut and soy milk as popular alternative products to traditional options.

Properties and Applications

Dairy alternatives are substitutes for dairy products like milk, ice cream, yoghurt, cheese, creamers, and others. They are often similar in taste and texture to real dairy products, although having a different composition. They can be derived from the following sources:

  • Soy
  • Almond
  • Coconut
  • Rice
  • Oats
  • Hemp
  • Others

The report by EMR looks into regional dairy alternative markets like North America, Asia Pacific, LATAM, Europe, and the Middle East and Africa.

Market Analysis

The global dairy alternative industry is being driven by the growing awareness among the consumers about the availability of lactose-free food in the market.  Consumers are seeking out these alternative products over real milk products mainly due to concerns about health like the growing cases of lactose intolerance and allergies or sensitivity to milk products. The rising trend of vegan diets is also aiding the industry growth. The market is finding further impetus from consumers who are increasingly seeking natural and plant-based products without artificial flavours or colours.

The dairy alternative market is being driven by the younger generation with higher disposable incomes who are contributing to the rising demand for dairy alternatives, as they deem them more sustainable than other milk sources. With consumers checking the nutritional information of foods and beverages more frequently, the market for alternative dairy products will be aided by the high nutritional content of the items. They are rich in nutrients like omega-3, calcium, protein, and vitamin D while containing lower fat and cholesterol than real milk products.

The rising demand for alternatives to milk products in regions where the supply of cow’s milk is insufficient to meet the local demand is also aiding the industry growth. The market is also being driven by dairy farmers who are switching to plant-based milk production due to the slower rate of growth of the traditional dairy market as compared to the alternative segment. In the forecast period, the industry will also be aided by the implementation of various government policies seeking to assist the growth of the agricultural sector. These policies will lead to an increase in the availability of raw materials for plant-based alternatives, and will consequently lead to a lowering of their prices.

Competitive Landscape

The report analyses the following key players in the global dairy alternative market, looking into their market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions:

  • Kerry Inc.
  • Califia Farms
  • Kite Hill
  • Ripple Foods Inc.
  • Nestle 
  • Elmhurst Milked Direct LLC
  • Pacific Foods of Oregon, LLC
  • Dean Foods 
  • The Döhler Group
  • SunOpta Inc.
  • The WhiteWave Foods Company
  • The Hain Celestial Plant Based Milk
  • Daiya Foods Inc
  • Others

The EMR report gives a detailed insight into the market, providing a SWOT analysis as well as an analysis of Porter’s Five Forces.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Demand Drivers
    3.3    Key Players
    3.4    Supply Market Changes
4    Global Dairy Alternative Market
    4.1    Global Dairy Alternative Market Analysis

        4.1.1    Chart: Global Dairy Alternative Market Breakup by Source
            4.1.1.1    Soy
            4.1.1.2    Almond
            4.1.1.3    Coconut
            4.1.1.4    Rice
            4.1.1.5    Oats
            4.1.1.6    Hemp
            4.1.1.7    Others
        4.1.2    Chart: Global Dairy Alternative Market Breakup by Formulation
            4.1.2.1    Plain
            4.1.2.2    Flavored
        4.1.3    Chart: Global Dairy Alternative Market Breakup by Application
            4.1.3.1    Milk
            4.1.3.2    Ice Creams
            4.1.3.3    Yogurt
            4.1.3.4    Cheese
            4.1.3.5    Creamers
            4.1.3.6    Others
        4.1.4    Chart: Global Dairy Alternative Market Breakup by Distribution Channel:
            4.1.4.1    Supermarkets/Hypermarkets
            4.1.4.2    Convenience Stores
            4.1.4.3    Health Stores
            4.1.4.4    Online Retailers
            4.1.4.5    Others
        4.1.5    Chart: Global Dairy Alternative Market Breakup by Region
            4.1.5.1    North America
            4.1.5.2    Europe
            4.1.5.3    Asia Pacific
            4.1.5.4    LATAM
            4.1.5.5    Middle East & Africa
        4.1.6    Figure: Global Dairy Alternative Historical Market (2014-2018) & Forecast (2019-2024)
            4.1.6.1    Figure: Breakup by Source Historical Market (2014-2018) & Forecast (2019-2024)
                4.1.6.1.1    Soy
                4.1.6.1.2    Almond
                4.1.6.1.3    Coconut
                4.1.6.1.4    Rice
                4.1.6.1.5    Oats
                4.1.6.1.6    Hemp
                4.1.6.1.7    Others
            4.1.6.2    Figure: Breakup by Formulation Historical Market (2014-2018) & Forecast (2019-2024)
                4.1.6.2.1    Plain
                4.1.6.2.2    Flavored
            4.1.6.3    Figure: Breakup by Application Historical Market (2014-2018) & Forecast (2019-2024)
                4.1.6.3.1    Milk
                4.1.6.3.2    Ice Creams
                4.1.6.3.3    Yogurt
                4.1.6.3.4    Cheese
                4.1.6.3.5    Creamers
                4.1.6.3.6    Others
            4.1.6.4    Figure: Breakup by Distribution Channel Historical Market (2014-2018) & Forecast (2019-2024)
                4.1.6.4.1    Supermarkets/Hypermarkets
                4.1.6.4.2    Convenience Stores
                4.1.6.4.3    Health Stores
                4.1.6.4.4    Online Retailers
                4.1.6.4.5    Others
            4.1.6.5    Figure: Breakup by Region: Historical Market (2014-2018) & Forecast (2019-2024)
                4.1.6.5.1    North America
                4.1.6.5.2    Europe
                4.1.6.5.3    Asia Pacific
                4.1.6.5.4    LATAM
                4.1.6.5.5    Middle East & Africa
    4.2    SWOT Analysis
        4.2.1    Overview
        4.2.2    Strengths
        4.2.3    Weaknesses
        4.2.4    Opportunities
        4.2.5    Threats
    4.3    Value Chain Analysis
    4.4    Porter’s Five Forces Analysis

        4.4.1    Overview
        4.4.2    Buyer’s Power
        4.4.3    Supplier’s power
        4.4.4    New Entrants
        4.4.5    Degree of Rivalry
        4.4.6    Substitutes
    4.5    Global Trade Analysis (2018): HS Code – 1201, 0802, 080119, 1002, 1004, 5302
        4.5.1    Major Exporting Countries by Value & Volume
        4.5.2    Major Importing Countries by Value & Volume
    4.6    Regional Price Analysis
        4.6.1    North America Dairy Alternative Source Historical Price Trends (2014-2018) & Forecast (2019-2024)
            4.6.1.1    Soy
            4.6.1.2    Almond
            4.6.1.3    Coconut
            4.6.1.4    Rice
            4.6.1.5    Oats
            4.6.1.6    Hemp
        4.6.2    Europe Dairy Alternative Source Historical Price Trends (2014-2018) & Forecast (2019-2024)
            4.6.2.1    Soy
            4.6.2.2    Almond
            4.6.2.3    Coconut
            4.6.2.4    Rice
            4.6.2.5    Oats
            4.6.2.6    Hemp
        4.6.3    Asia Pacific Dairy Alternative Source Historical Price Trends (2014-2018) & Forecast (2019-2024)
            4.6.3.1    Soy
            4.6.3.2    Almond
            4.6.3.3    Coconut
            4.6.3.4    Rice
            4.6.3.5    Oats
            4.6.3.6    Hemp
        4.6.4    LATAM Dairy Alternative Source Historical Price Trends (2014-2018) & Forecast (2019-2024)
            4.6.4.1    Soy
            4.6.4.2    Almond
            4.6.4.3    Coconut
            4.6.4.4    Rice
            4.6.4.5    Oats
            4.6.4.6    Hemp
        4.6.5    Middle East & Africa Dairy Alternative Source Historical Price Trends (2014-2018) & Forecast (2019-2024) 
            4.6.5.1    Soy
            4.6.5.2    Almond
            4.6.5.3    Coconut
            4.6.5.4    Rice
            4.6.5.5    Oats
            4.6.5.6    Hemp
5    Manufacturing Process
    5.1     Detailed Process Flow
    5.2     Operations Involved
    5.3      Mass Balance
6    Cost Analysis
    6.1    Land, Location and Site Development
    6.2    Construction
    6.3    Plant Machinery
    6.4    Cost of Raw Material
    6.5    Packaging
    6.6    Transportation
    6.7     Utilities
    6.8    Manpower
    6.9    Other Capital Investment
7    Competitive Landscape & Supplier Analysis
    7.1    Kerry Inc.
    7.2    Califia Farms
    7.3    Kite Hill
    7.4    Ripple Foods Inc.
    7.5    Nestle 
    7.6    Elmhurst Milked Direct LLC
    7.7    Pacific Foods of Oregon, LLC
    7.8    Dean Foods 
    7.9    The Döhler Group
    7.10 SunOpta Inc.
    7.11 The WhiteWave Foods Company
    7.12 The Hain Celestial Plant Based Milk
    7.13 Daiya Foods Inc
    7.14 Others
8    Events and Developments

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