Upcoming Growth Trends in the Dairy Alternatives Market

According to MarketsandMarkets, the global dairy alternatives market size is estimated to be valued at USD 27.3 billion in 2022. It is projected to reach USD 44.8 billion by 2027, recording a CAGR of 10.4%, in terms of value. The Increasing awareness associated with health benefits offered by dairy alternatives to drive the dairy alternatives market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=677

The almond segment is projected to grow at highest CAGR in the dairy alternatives market.

Based on sources, almond segment is projected to grow at highest CAGR in dairy alternatives market. Almond-based products witness significant demand in the dairy alternatives market due to the various benefits it offers. The growth of the almond-based dairy alternatives market is also due to factors such as high nutritional content, easy availability of raw materials, and increased popularity of consumption.

The flavored segment is projected to grow with the highest CAGR in the dairy alternatives market.

Based on formulation, flavored segment is projected to grow with the highest CAGR in the dairy alternatives market. The widely available flavored plant-based products in the market are vanilla and chocolate, followed by flavors such as peach, strawberry, blueberry, and mango. Companies have launched new products with fruit flavors to expand their consumer base and increase their market share. Dream frozen yogurt by The Hail Celestial (US) is one of the examples of flavored & sweetened dairy alternative products. To develop creamier textures, many new product launches include coconuts or blends such as coconut and oat or another plant-based alternative.

Key players in this market include Danone North America Public Benefit Corporation (US), The Hain Celestial Group, Inc. (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium (New Zealand), Freedom Foods Group Limited (Australia), Eden Foods, Inc. (US).

The key players are fixated upon improving their market shares, while their newer start-ups are being established rapidly in the market. The dairy alternatives market can be classified as a competitive market as it has the presence of a large number of organized players, accounting for a major part of the market share, present at the global level, as well as unorganized players present at the local level in several countries. There are numerous existing and emerging companies, particularly in the Asian markets.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=677

Danone North America public benefit corporation manufactures and distributes fresh dairy products, baby nutrition, medical nutrition, and beverages. Plant-based foods and beverages, as well as premium dairy, are the companys three business segments. Its plant based foods and beverages business segment offers dairy alternatives like soymilk, almond milk, and coconut milk under the silk, Alpro, and So Delicious brands.

The hain celestial group, Inc, is involved in manufacturing, distribution, marketing and sales of natural and organic personal care products under different brand names. The business offers products in the following categories: groceries, snacks, personal care, and tea. It has a diverse range of dairy-free products offered through its line of grocery products.  It offers dairy-free products under the Dream and MaraNatha brands.