(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Dairy Alternative Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Dairy Alternative Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Dairy Alternatives Market is estimated to reach $28,745 Million by 2025; growing at a CAGR of 13.1% from 2017 to 2025. Dairy alternatives are lactose free products which are used as a replacement of dairy based products. Dairy alternatives are majorly adopted from various cereals such as wheat, oat, nuts, rice and barley. People who are lactose intolerant and milk allergic are consuming these alternatives with great ecstasy. Due to the low fat content and cholesterol concentration in dairy alternative products, their demand is rising at a rapid pace all over the world. Usually extracted from plant based sources they are widely available in supermarkets including in various milk options such as almond, coconut, soy and many others. The global dairy alternative market is also gaining a high demand from the rising health awareness among consumers.
Nutritional benefits such as low cholesterol content, high protein content, and growing consumer preference for a vegan diet are the key drivers boosting the global dairy alternative market. In addition, rising number of dairy allergic and lactose intolerant consumers have also fueled the market growth. However, high cost of these alternatives may hinder the growth of the market. Moreover, attractive marketing and promotional strategies followed by the companies is likely to gain significant impetus over the coming future.
The global dairy alternative market has been segmented into source, application, distribution channel, and geography. On the basis of source, the classification includes almond milk, soy milk, rice milk, and other sources. The application segment can be sub-segmented into food (yogurt, creamer, spread, tofu, and other foods), and beverages. Also, on the basis of distribution channel the segmentation is given as large retail, small retail, specialty store, and online.
On the basis of geographical analysis the global dairy alternative market is segmented in North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
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Major players in the market include WhiteWave Foods Company, SunOpta Inc., Hain Celestial Group Inc., Blue Diamond Growers, Organic Valley, Eden Foods, Inc., Hudson River Foods, Earth's Own Food Company Inc., BRIDGE S.R.L and Dohler GmbH, among others.
The key takeaways from the report
The report will provide detailed analysis of Global Dairy Alternative Market with respect to major segments such as source, application, distribution channel, and geography
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Dairy Alternative Market has been included in the report
Profile of the key players in the Global Dairy Alternative Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Dairy Alternative Market
Source Segments
Almond Milk
Soy Milk
Rice Milk
Other Sources
Application Segments
Food
Yogurt
Creamer
Spread
Tofu
Other Foods
Beverages
Distribution Channel Segments
Large Retail
Small Retail
Specialty Store
Online
Geographical Segments
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North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products' demand, growth and opportunities for new and existing players.
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