The market shows evident potential in the mentioned forecasting period. Dairy alternative has become a growing need for consumers who are allergic to conventional milk and milk products. Most of the customers select dairy alternatives because of intolerances or allergies to cow’s milk while others choose them for taste. Consumers allergic to dairy products are keenly looking for plant based milk with huge amount of nutrients, vitamins and calcium with same contentment as the cow’s milk. Dairy milk was one of the healthiest foods in the past but increasing allergic consumers would decrease the demand for dairy products in future.
There is a wide range of food and beverages available in the market, prepared from milk, which in turn is derived from sources such as almond, rice, soy, coconut and others. Commonly consumed dairy alternative based products are milk, butter, ice-cream, cheese, soft drinks, energy drinks and others. The market is seeing increasing number of customers due to innovative products and attractive marketing campaigns.
The market is driven by the change in lifestyles and eating patterns of the consumers in the region. In the recent times, UK, Spain, Italy, Germany are observing high demand of dairy alternatives, majorly due to increasing disposable incomes, environmental concerns and rising number of people with dairy allergies. This is fuelling the growth of the Dairy alternatives market in this region. The cost related to the dairy alternative products hinders the growth of the market in the European region.
The Europe Dairy Alternatives Market is broadly categorized into Soy Milk, Almond Milk, Rice Milk and others. Based on formulation, the market is segmented as Plain Sweetened, Plain Unsweetened, Flavoured Sweetened and Flavoured Unsweetened. Based on Application, the market is further segmented into Food & Beverages. Soy Milk accounted for the highest revenue of the overall market and Almond Milk is projected to showcase high growth rate during the forecast period. Based on the geography, the Europe market is analysed under various regions namely UK, France, Spain, Italy, etc. The Dairy Alternatives market was dominated by UK, with the overall market share of over 36%. UK was followed by France and Spain.
Some of the major companies in Europe Dairy Alternatives Market are: • Freedom Foods Group Limited • Blue Diamond Growers • The WhiteWave Foods Company • Nutriops S.L. • Archer Daniels Midland Company • Sanitarium Health & Wellbeing Company • Daiya Foods Inc. • SunOpta Inc. • The Hain Celestial Group Inc. • Earth’s Own Food Company • Eden Foods, Inc.
Dairy Alternatives Market Segmentation: Type Almond Milk Soy Milk Rice Milk Others Y-o-Y Growth Analysis, By Type Market Attractiveness Analysis, By Type Market Share Analysis, By Type
Formulation Plain Sweetened Plain Unsweetened Flavoured Sweetened Flavoured Unsweetened Y-o-Y Growth Analysis, By Formulation Market Attractiveness Analysis, By Formulation Market Share Analysis, By Formulation
Application Food & Beverages Other Applications Y-o-Y Growth Analysis, By Application Market Attractiveness Analysis, By Application Market Share Analysis, By Application
The scope of the report: Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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