DUBLIN, February 11, 2021 / PRNewswire / – The “Market Milk Options by source (Soy, Almond, Coconut, Oats, Rice, Oats), Demand (Milk, yogurt, ice cream, cheese, garlic), circulation channel (supermarkets, health food stores, pharmacies), format, and area – global forecast to 2026 “added ResearchAndMarkets.com’s offering.
Dairy options are considered to have market value 22.6 billion USD in 2020 and is expected to arrive USD 40.6 billion by 2026, recording a CAGR of 10.3% in value.
The market is largely driven by factors such as the growing worldwide vegan and flexitarian population and increased incidence of lactose-intolerant among consumers. Asia Pacific an area that accounted for the largest market share in the dairy options market due to the growing consumer bias towards vegan food. One of the main obstacles in the growth of the milk options market is allergies associated with plant-based sources such as soy and almonds.
“By application, the yogurt segment is expected to grow at the highest CAGR in the forecast period.”
Based on a claim, the yogurt segment is expected to be the fastest growing in the forecast period. This sector is growing rapidly, mainly due to the growing demand for plant-based healthy yogurt varieties, creating opportunities for dairy-free producers. Innovation is a vital part of the dairy options market, which is expected to drive the growth of the non-dairy yogurt market.
“By design, the flavor segment is considered to account for the largest proportion.”
The taste segment of the other dairy options has a huge impact on the market. Other dairy products are in high demand among manufacturers. The introduction of flavors helps to increase the taste of dairy options such as soy, rice, and oat milk. It also helps the manufacturers to meet the changing customer demands and increase their productivity.
“The Europe The region is expected to grow at the highest CAGR over the coming period “
Europe It is expected that the fastest growing market for the period estimated for this study, due to growing demand for dairy options, is largely due to the flexitarian population. European consumers are health conscious and often check for ingredients before making purchasing decisions. The growing health awareness among consumers combined with environmental concerns and sustainability factors are driving the growth of other European dairy options market.
The dairy options market is segregated by region, with a detailed analysis of each region. These categories include Asia Pacific, North America, Europe, South America, and RoW (Middle East and Africa).
Market dynamics
Drivers
- Growing consumer choice for a vegan diet
- Nutritional benefits offered by plant-based foods
- Arising cases of lactose intolerance and milk allergies
Barriers
- Allergies associated with plant-based sources, such as Soy and Almonds
Opportunities
- Growing demand from emerging economies
- Favorable marketing and proper positioning of other dairy options
- Demand for Organic Food and Drink is rising
Challenges
- Limited consumer awareness
- Genetically Modified (Gm) Soybeans
- Variable prices of raw materials
Impact of COVID-19 on Dairy Options Market
Patent analysis
Value Chain
Ecosystem / market map for alternative milk options
Key Markets for Import / Export
- Almoin
- Soybeans
- Oats
- Rice
- Coconuts
- Hemp
Five Porter Forces Analysis
Case study
Yc & Ycc Movement for Dairy Options Market
Company Profiles
Key players
- Hain Square
- Diamond blue growers
- Sunopta
- Sanitarium Health and Wellness Company
- Danone
- Freedom Food Group
- Ground Food Company
- Triballat Noyal
- SPA Valsoia
- Marcas Panos
Other players
- Melt Organic
- Oatly
- Live harvest food
- Ripple Food
- Kite Hill
- Califia Farms
- Hudson River Foods Inc.
- Daiya Foods Inc.
- Pureharvest
- Yoconut Dairy free
- Yumbutter
For more information about this report, visit https://www.researchandmarkets.com/r/xxai0x
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