Dairy alternatives refer to that food and beverages which can be used as an alternative or substitute for dairy. These food and beverages are extracted from plants and are considered as a very healthy substitute to dairy. Rice milk, soy milk and almond milk are among the very popular option for dairy alternative across the world. Dairy alternatives are considered as healthy due to presence of a number of important vitamins and minerals. They are also low in fats, cholesterol and have zero concentration of lactose. With the rise in the trend of veganism, awareness about the personal health, and with the increasing disposable income in developing nations, the demand for dairy alternatives such as soy milk, almond milk, and rice milk is projected to increase over the forecast period. The rise in demand for plant-based nutritional dairy alternatives can prove to be vital for the growth of the dairy alternatives market. Increase in the number of consumers opting for a vegan diet is one of the key reasons that could fuel the dairy alternatives market. Moreover, the increasing awareness among consumers about the health benefits associated to non-dairy products over dairy products such as the decreased risk of cancer, decreased risk of contaminants such as hormones and steroids in milk, decreased symptoms of lactose intolerance such as gas, stomach pain, bloating and diarrhea have escalated the demands for dairy alternatives. Rising concern over animal rights and environmental protection are few other factors contributing the growth of the dairy alternatives market. Furthermore, in order to promote the growth of a plant-based diet, the government is offering the farmers with several schemes. This has prompted the farmers to cultivate the crops required for the development of plant-based products. This has resulted in the availability of sufficient raw materials for dairy alternatives throughout the year. This can be a key factor favoring the growth of dairy alternatives market. On the other hand, the key factor which is restraining the market growth is fluctuations in the price of raw materials.

The organic food & beverages have the ability to change the business landscape in the whole dairy alternatives market. Changing consumer preferences have been inclined towards healthy food & beverages; this is ascribed to an increase in awareness about the functional health advantages in the consumption of organic food products. Clean-label food & beverages have been alluring consumers globally, leading to an increase in demand for organic ingredients. Thus, the growing demand for organic food and beverages is a key factor to create opportunity for the market.

The global Dairy Alternatives Market is segregated on the basis of Source as Soy, Almond, Coconut, Rice, Oats and Others. Based on Product the global Dairy Alternatives Market is segmented in Milk, Yogurt, Ice Cream, Cheese, Creamer and Others. Based on Distribution Channel the global Dairy Alternatives Market is segmented in Supermarkets & Hypermarkets, Convenience Stores, Online Retail and Others.

The global Dairy Alternatives Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Dairy Alternatives Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

The Hain Celestial Group, Inc., SunOpta Inc., Danone, Oatly, Vitasoy International Holdings Limited and others are among the major players in the global Dairy Alternatives Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In May 2020, Blue Diamond Growers emphasized on the strategic decision of two key expansions. The first expansion is of 52,000-square foot addition to the existing 200,000 square-foot Turlock manufacturing plant. The next expansion is the new Bulk 8 warehouse at the Salida facility. This expansion will offer space for a future manufacturing line to help its current business and innovations.
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