1. MarketsandMarkets Presents Dairy Alternatives Market Size, Scope,& Trends - Forecast to 2023

2. The dairy alternatives market is projected to grow from USD 17.3 billion in 2018 to USD 29.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period. This is attributed to the nutritional benefits offered by plant-based dairy alternatives. They offer various nutritional benefits such as reduced cholesterol level, improved cardiovascular health, and diabetes control. These benefits have led to an increase in their consumption. Thus, these alternatives are catering to the demand for various dairy alternative products among global consumers. The global dairy alternatives market is expanding with considerable growth potential over the next five years. The growth of this market can be attributed to the growing inclination toward vegan, especially plant-based food, growing lactose intolerance among a large section of the population, and rising demand for various innovative dairy-free applications. Make an Inquiry https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=677 https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=677

3. The milk segment is projected to account for the largest market share during the forecast period. By application, the market was dominated by the milk segment in 2018. Health and convenience are prioritized by consumers while making a choice for beverages. Companies have diversified their beverage offerings with products containing almond milk, coconut milk, and soymilk, along with other non-dairy ingredients and alternatives derived from hemp, oats, or flax. Factors supporting the popularity of dairy-free milk are health concerns related to lactose intolerance and the hectic lifestyles of the working middle-class population. These factors encourage them to use convenience products for on-the-go consumption to save time. By distributing channel, the online stores segment is projected to be the fastest- growing segment in the dairy alternatives market during the forecast period. The fastest-growing market of online stores is attributed to a variety of options for a particular dairy-free food product at discounted rates as compared to traditional retail prices, to attract more customers. The usage of online services has also increased in developed as well as developing markets due to factors such as faster accessibility and cost-effectiveness. The increased frequency of online shopping has created opportunities for enhancing the product sales of leading online players and regional domestic e-retailers, such as Amazon, Vegan Online, and Goodness Direct.

4. Asia Pacific is projected to account for the largest market share during the forecast period. The Asia Pacific market accounted for the largest share in the dairy alternatives market. The large market share in this region is attributed to rapid urbanization, diet diversification, and liberalization of foreign direct investment in the food sector. Apart from this, rise in income, purchasing power, rapid growth of the middle-class population, increase in consumer awareness about health & fitness, and consumer demand for nutritional & healthy products provide promising prospects to the market players for growth and diversification in the region’s food sector. Key Market Players: The major vendors in the global market are The Whitewaves Food Company (US), The Hain Celestial Group (US), Blue Diamond Growers (US), Sunopta (Canada), Sanitarium Health and Wellbeing Company (Australia), Freedom Foods Group (Australia), Eden Foods (US), Nutriops S.L. (Spain), Earth's Own Food Company (Canada), Triballat Noyal (France), Valsoia S.P.A (Italy), Dohler GmBh (Germany),Organic Valley (US), and Panos Brands LLC (US). These players have broad industry coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past. The WhiteWave Foods Company, an industry player, completed its merger with Danone S.A. (France). This merger would help Danone S.A. to focus on expanding the sales of its plant-based products in April 2017. https://www.marketsandmarkets.com/Market-Reports/dairy-alternative-plant-milk- beverages-market-677.html

5. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.