Dairy Alternatives Market Worth $40.6 Billion by 2026 - Exclusive Report by MarketsandMarkets(TM)

Chicago, Illinois--(Newsfile Corp. - October 19, 2021) - According to the research report, "Dairy Alternatives Market by Source (Soy, Almond, Coconut, Oats, Rice, Hemp), Application (Milk, Yogurt, Ice creams, Cheese, Creamers), Distribution Channel (Supermarkets, Health Food Stores, Pharmacies), Formulation, and Region - Global Forecast to 2026", the global dairy alternatives market size is estimated to be valued at USD 22.6 billion in 2020. It is projected to reach USD 40.6 billion by 2026, recording a CAGR of 10.3% in terms of value.

The increasing demand for lactose-free food and beverage products is driving the global dairy alternatives market. The most popular alternatives for dairy are plant-based beverages, which are gaining popularity as substitutes for milk and milk products. Consumers are adopting a dairy-free diet due to increasing incidences of lactose intolerance, allergies from milk or milk-based products, and a shift in consumer preference toward vegan diets and healthy lifestyles. With immense preferences for low-calorie and low-fat formulations, plain & unsweetened formulations of dairy alternatives are widely prevalent.

Ask for PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=677

The soy segment accounted for the largest share in the dairy alternatives market

Based on the source, soy dominated the dairy alternatives market. Soy-based dairy alternative products are popular among consumers owing to their nutritional content. They are a rich source of proteins and calcium, which makes them suitable for lactose-intolerant consumers. Soy-based dairy alternatives are the best substitutes for dairy products and occupy a significant share in the dairy alternative market. The popularity and rising consumption of soy-based products are attributed to the nutritional content in them. They are a rich source of proteins and calcium and are considered one of the best substitutes for dairy products by lactose-intolerant individuals. Even the soy-based products lack casein, which is also a cause of many milk-based allergies. The soya milk is available in varieties and flavors, giving consumers an option to choose from a larger lot.

Supermarkets & hypermarkets to account for a major share in the dairy alternatives market during the forecast period

By distribution channel, the dairy alternatives market is segmented into supermarkets & hypermarkets, health food stores, pharmacies, convenience stores, and online stores. The supermarkets & hypermarkets segment accounted for the largest market share in the overall dairy alternative market in 2019. Consumers prefer supermarkets and hypermarkets as they have many options available in one place, and they can easily compare products on various factors such as price, nutritional content, and allergens. The rise in the trend of consumers reading packaged labels is further driving sales of products through supermarkets. The current consumer trend of reading packaged labels and consuming healthy products is driving the sales of products through supermarkets. Hence, the consumer can easily choose from a wide assortment of products.

Request for Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=677

Europe to be the fastest-growing in the dairy alternatives market in the forecast period

Europe is projected to be the fastest-growing region in the global dairy alternatives market in the forecast period. An increasing number of flexitarians in the region are driving the demand for dairy alternatives. Manufacturers in the region are also focusing on new product developments that include fresh soy drinks. The increasing demand for healthy & nutrition products, along with changing eating habits, environmental concerns, and sustainability factors, drive the growth of the European dairy alternatives market. Europeans are health-conscious and often check the ingredients on the product labels before purchasing them. This high level of awareness has resulted in the demand for lactose-free or reduced lactose, low-calorie, and low-fat foods in Europe. As dairy products are associated with obesity, flatulence, gastrointestinal problems, and diabetes, the food & beverage companies focus on innovations to produce various nutritional lactose-free dairy alternative products to meet consumer demand. The increasing demand for dairy-free food & beverage products is driving the dairy alternatives market in Europe.

What you can expect from the report.

• Assumptions based on the COVID-19 impact have been included in the RM analysis section in the report.
• Addition/Refinement in the market overview: Newer market-related drivers, restraints, and opportunities have been added to provide an in-depth overview of the market. Additional points provide more clarification and adequate substantial data regarding the market.
• Additional YC & YCC shift analysis: Additional YC-YCC shift analysis for the market has been incorporated in the report. This gives a broader outline for the clients as well as their client's changing requirements pertaining to the market and helps in the decision-making for prominent industry players.
• Refinement of the market size based on the COVID-19 impact on various regions related to the dairy alternatives market has been done. The market size related to optimistic, realistic, and pessimistic scenarios of COVID-19 has been provided in the report at the regional level.
• Refinement of the market size with respect to source, application, formulation, and distribution channel has been provided based on the COVID-19 impact at global levels.
• In the new edition of the report, additional six companies, including Melt Organic (US), Danone (France), and Sun Tropics (US), were profiled.
• Company financials and product portfolios have been updated in the company profiles section up to 2019/2020.
• Companies' recent developments have been updated in the report.
• Competitive leadership mapping was updated for the overall market and start-ups/SMEs with respect to 20 companies.

Purchase a copy of this Report Today @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=677

Related Reports:

Plant-based Beverages Market by Source (Almond, Soy, Coconut, and Rice), Type (Milk and Other Drinks), Function (Cardiovascular health, Cancer prevention, Lactose intolerance, and Bone health) and Region - Global Forecast to 2023
https://www.marketsandmarkets.com/Market-Reports/plant-based-beverage-market-34414144.html

Plant-based Meat Market by Source (Soy, Wheat, Pea, & Other Sources), Product (Burger Patties, Strips & Nuggets, Sausages, Meatballs, & Other Products), Type (Beef, Chicken, Pork, Fish, & Other Types), Process, and Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/plant-based-meat-market-44922705.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/dairy-alternative-plant-milk-beverages.asp

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100160