Global Dairy Alternatives Market is forecasted to be USD 35 Billion by 2026
The dairy alternative beverages are made from plant materials extracts such as corn, rice, coconut, oats, or quinoa. The plant-based non-dairy drinks contain much less calcium than the cow's milk. Dairy alternative beverages taste just like dairy products but have more protein at the same time. Dairy alternatives in the developed countries are often fortified with calcium and vitamins. Even if the quality of fortified micronutrients is comparable to that of cow's milk, they cannot be considered equal, because the bioavailability of the added calcium also depends on the food form. The promotion and availability of plant-based alternatives to conventional dairy lines have further boosted the dairy substitute beverages. According to Renub Research analysis, Global Dairy Alternatives Market is forecasted to be USD 35 Billion by 2026.
In response to rapidly evolving market demands, the dairy alternative space is required to grow continuously and shift, boosting consumption of alternative dairy products as consumers are beginning to favour low-calorie goods. Asia-Pacific health and wellness movement has taken food intolerance and allergies to the forefront of the minds of modern consumers, containing no artificial additives, and protein-rich. This drives growth for the studied market. Plant-based drinks include vegetable protein or mixed protein that satisfies the growing need for a balanced lifestyle.
Consumers of Asia-Pacific plant-based protein have embraced a dairy-free diet to enhance their health and wellness, as plant-based diets will not only help combat obesity, stroke, and heart disease, prevent a number of cancers, minimise cholesterol and arthritis pain, but also minimises blood sugar, and increase energy and mental clarity.
Dairy alternatives produce fewer calories than milk with low-fat content. In addition, the amount of calcium and potassium in these dairy alternatives is higher than that of milk, which is the key explanation for dairy products consumption. These research results were integrated by dairy alternatives producers into marketing campaigns to improve sales.
The impact of COVID-19 on Dairy Alternative Market
Corona Virus has a negative impact on various industries, only personal care, food & beverages and online grocery shopping are left from this impact up to some extent. The demand of dairy alternative products in commercial places like restaurant, hotels, and food festivals has declined, but people are purchasing grocery items through ecommerce services. The sale of the organized player is performing well as compared to unorganized players, which can benefit organization involved in dairy alternative products.
Dairy Alternatives Market is also increasing due to the goodness of soymilk as it contains several minerals such as calcium, zinc, iron, magnesium, sodium, potassium, and phosphorous. Soymilk has an equal amount of proteins but low calories as compared to cow milk. Besides, dairy alternative products are also popular in heart patients as it reduces the level of cholesterol, which makes it helpful in maintaining a healthy lifestyle. The dairy alternative market will also propel due to health benefits provided by these products, such as bone health, bowel health, and control of blood sugar. Other than that various sources are used to produce plant-based milk Soy, Almond, Rice, Coconut, and others. Soy is the preferred choice by the plant-based milk producers.
Several companies around the world are working to provide their customers with better milk products through continuous research and development for giving the better flavor of milk and sources of dairy alternatives. Some of dairy alternative beverages are Milk, Soft Drink, Ice-Cream, Energy Drinks, and others.
Properties of these products, such as delay in the aging process, boosting of energy, stress and fatigue management, and target specific disease, are also attracting consumers to move from conventional milk products. There are several properties of almond milk, such as better taste, high protein, fiber, lipids, vitality content, are boosting dairy alternative market, apart from the health benefits of almond milk like better control of pulse, benefits to heart, skin, and kidney. Consumers are also adding due to attractive marketing campaigns and awareness programs about the benefits of dairy alternative products that are run by companies
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Market Summary:
By Source: Soy, Almond, Rice, Coconut, and Other sources are covered in this research report. According to Renub Research analysis, Soy is the preferred choice to produce milk due to its benefits for heart patients.
By Regions: This research report has covered North America, Asia Pacific, Europe and Rest of World; according to Renub Research analysis, Asia pacific region will lead the market due to the increasing number of lactose intolerant and vegan population.
By Companies: Company Overview, Company Initiatives/Strategy and Financial Insights of The Hain Celestial Group Inc., Blue Diamond Growers Inc., SunOpta Inc., Freedom Foods Group Ltd., Vitasoy International Holdings Ltd., Kikkoman are given in this research report.
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