22 October 2020
Visiongain has published a new report on Dairy Alternatives Market Report 2020-2030: Forecasts by Source (Soy, Coconut, Rice, Almond, Oat, Hemp, Others), by Application (Milk, Yogurt, Cheese, Ice Creams, Creamers, Others), by Formulation (Plain, Flavoured), by Nutrient (Protein, Starch, Vitamin, Others), by Distribution Channel (Supermarkets, Health Food Stores, Pharmacies, Convenience Stores, Online Stores, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), Plus Analysis of Leading Dairy Alternatives Companies. PLUS COVID-19 Recovery Scenarios.
Global Dairy Alternatives Market was valued at US$xx million in 2020 and is projected to reach at a market value of US$ xx million by 2030.
Product Innovation in Dairy Alternatives Market
Large numbers of companies are working on product innovation and development by understanding the growing consumer demand. It has been observed that launch of innovative products with formulated nutrients, healthy ingredients, and combination of liquid & solid flavors will boost the market growth in coming years. Demand for dairy alternatives products are increasing day by day. Consumer inclination towards the requirement of healthy products and other dairy alternatives is expected to drive the product demand.
Retail Market Expansion
Large- and small-scale players are selling their products through different distribution channels, including supermarkets, health food stores, pharmacies, online stores discounters, convenience stores, and grocery stores. The rising population at the global level is encouraging dairy alternatives manufacturers to increase their retail sales channels in cities and small-town areas. It has been observed that key dairy alternatives manufacturers including Danone, Hain Celestial, and Sunopta, is investing in increasing their retail chain in Tier 2 and Tier 3 cities of European and Asia Pacific Countries.
Growth in Demand for Sugar-Free, Organic, And Vegan Products
Rising consumer awareness towards the healthy lifestyle coupled with increasing demand of nutritious foods. Population have become more conscious about the perfect percentage of sugar intake in their daily life. These factors are expected to drive the demand for low sugar dairy alternatives products. Furthermore, consumption of organic product is increasing day by day. Large numbers of dieticians and health experts are suggesting to use organic dairy free products. Demand of organic product is high in developed countries including U.S., Germany, U.K., Switzerland and France. Companies such as Hain Celestial and Danone are providing healthy dairy alternatives with the commitment of low fat to boost their product demand.
Favourable marketing and correct positioning of dairy alternatives
The adoption of marketing strategies such as segmentation and diversification from the leading manufacturers can increase the sales of dairy alternatives. The aim is to build more competition for customers such as coaches, lactose intolerants, customers who are vegans and health-conscious. Moreover, positioning of the product at the right place is also crucial and is more successful through the right sales channel. The top manufacturers will rely on this requirement to increase and retain their profits in the marketplace. They need to place themselves correctly in the global market by improving consumer ties and increasing their scope. Appropriate marking will drive consumer development with good pace over the coming years. The marking criteria is fairly high in the North American and European dairy substitutes sectors. The trend is also projected to be higher in the Asia Pacific region.
Qualitative Insights. Some of the companies profiled in the report include Danone North America (US), Hain Celestial (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium (Australia), Eden Foods Inc. (US), Freedom Foods Group Limited (Australia), Ecomil (Spain), Earth's Own Food Company Inc., VALSOIA S.P.A., Triballat Noyal, Döhler, Panos Brands, Green Spot Co., Ltd., Hiland Dairy, Ripple Foods, Kite Hill, Wayfare, Califia Farms, and Daiya Foods Inc.
In July 2020, Hain Celestial completed its sale of Danival brand to a subsidiary of Wessanen N.V., a leader in healthy and sustainable food in the European market.
In January 2020, Blue Diamond Growers supports and is inspired by this week's landmark trade deal with China. The deal supports all US agriculture particularly the almond sector in California. China is a very large California almonds market and this deal will continue to improve China's trading ties.
Notes for Editors
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