A dairy alternative is any substance that resembles milk and has the same flavor as that regular milk. Such alternatives are known as non-dairy products. Dairy alternatives have two types; the first is plant-based milk and the second is coffee creamer (a commercially produced synthetic product to replace milk in regular coffee-based beverages.). Plant-based milk is created from plants extracts and water. The primary consumers of these products are lactose intolerants and patients suffering from hypercholesterolemia. Coconut milk has been traditionally used as a dairy alternative in many South Asian countries.
Dairy Alternatives Market size was valued at US$ 22.95 Billion in 2021 and the global Dairy Alternatives revenue is expected to grow at 12.5% through 2022 to 2029, reaching nearly US$ 58.88 Billion.
Dairy Alternatives Market overview:
The Dairy Alternatives market’s competitive landscape comprises information about rivals. The topics covered include a firm overview, financials, revenue produced, market potential, R&D investment, new market efforts, geographical presence, business strengths and weaknesses, product launch, and application domination. The following information is only relevant to the organization’s focus on the Dairy Alternatives market.
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Dairy Alternatives Market scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research’s market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). To create percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. The percentage acceptance or usage of the given market Size in the relevant area or nation determines the country-wise segmentation of the main market and its sub-segments.
Segmentation:
By Distribution Channel, Supermarkets and hypermarkets accounted for almost 40% of the dairy alternative market in the year 2021. This can be attributed to consumer preference of these outlets due to the availability of many consumer goods under one roof. The growth of the convenience store segment is projected to be the highest in developing countries like India due to the absence of supermarkets in rural areas. Therefore, the majority of consumers in these countries prefer convenience stores for their purchases of dairy alternatives as well as other products.
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Key Players: Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data. The following are the key players of the Dairy Alternatives market-
• Freedom Foods Group
• Eden Foods
• Nutriops S.L.
• Earths Own Food Company
• Triballat Noyal
• Valsoia S.P.A
• Dohler GmBh
• Organic Valley
• Panos Brands
• Living Harvest Foods Inc.
• Kikkoman Corporation
• Rebel Kitchen
• Melt Organic
• Daiya Foods Inc.
• Califia Farms
• Hudson River Foods Inc.
• Kite Hill
Regional Analysis:
Individual market influencing components and changes in market rules that affect current and future market trends are also investigated in the geographical component of the research. Some of the factors used to forecast market scenarios for various countries include downstream and upstream value chain analysis, technological trends, Porter’s five forces analysis, and case studies.
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COVID-19 Impact Analysis on Dairy Alternatives Market: Furthermore, the research assesses the impact of COVID-19 on the Dairy Alternatives market. The fundamental purpose of this research is to help users understand the market in terms of definition, segmentation, market potential, key trends, and difficulties that the industry confronts across major regions. The paper provides a microeconomic and macroeconomic analysis of the overall impact of COVID-19 on the Dairy Alternatives Market. The report focuses on market share and size, clearly demonstrating the pandemic’s influence on the worldwide Dairy Alternatives Market in the next years.
Key Questions Answered in the Dairy Alternatives Market Report are:
- What will be the Dairy Alternatives market’s CAGR throughout the projected period (2021-2027)?
- Which market category emerged as the market leader in the Dairy Alternatives industry?
- Who are the key players in the Dairy Alternatives market?
- What important trends in the Dairy Alternatives industry are anticipated to develop throughout the forecast period?
- How big will the Dairy Alternatives market be in 2027?
- In 2020, which business segment had the highest proportion of the Dairy Alternatives market?
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