Plant-based dairy alternative milk is processed through grains, nuts, etc. The market is projected to grow with an increasing number of lactose-intolerance, milk allergy, vegans, etc. The market is projected to grow at a CAGR of 15% to reach a value of $14 billion by 2018. In 2012, the Asia-Pacific region was the largest market for dairy alternative beverages. The leading companies drive the market growth through the introduction of new products with different flavors and fortified products with DHA, calcium, etc.
Soy milk dominated the market, both in terms of value and volume. The benefits of almond milk, coconut milk, etc. on digestion, immunity, etc. of consumers is what drives the global market. The different formulations of dairy alternative beverages available in the market include plain, flavored, sweetened, unsweetened, fortified, etc. The leading companies use different channels to avail and promote their products in the market. In 2012, the largest sales of dairy alternative beverages were recorded from supermarkets.
Both bottom-up and top-down approaches were used to derive the global market. The market segments include types of plant-based dairy alternative beverage, formulations, sales channels, and geography. The market includes the sales of dairy alternatives through different channels in terms of product types as well as geography. The market also includes the geographic segments in terms of product types and countries.
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The report provides a complete description of key players, market trends, drivers, opportunities, and restraints in the market. The report also discusses the market share by leading players. The top players of this industry such as The WhiteWave Foods Company (U.S.), The Hain Celestial Group Inc. (U.S.), and Sanitarium Health & Wellbeing Company (Australia) have been profiled in this report.
In 2012, the Asia-Pacific region was the largest market and is projected to be the fastest growing region in this global market. The market in North America grows due to an increasing number of health conscious and vegan consumers. In 2012, the U.S. was the largest market for dairy alternative beverages in North America.
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Scope of the Report
The report focuses on the dairy alternative beverage market, both in terms of value ($Million) and volume (Million Liter). This research segments the market on the basis of types, sources, functions, applications, and geography:
On the basis of types
- Soy milk
- Almond milk
- Rice milk
- Others (Coconut milk, hemp milk, hazelnut milk, etc.)
On the basis of formulations
- Others (low calorie, fortified, etc.)
On the basis of sales channels
- Health food stores
- Convenience stores
- Others (e-retailers, direct sales, etc.)
On the basis of geography
- North America
- Rest of the World (ROW)