Future Market Insights

Dairy Alternatives Market to Pegged to Bring in over US$ 9.5 Bn in Revenues by 2022-End

Future Market Insights has announced the addition of the “Dairy Alternatives Market to Pegged to Bring in over US$ 9.5 Bn in Revenues by 2022-end"report to their offering

 

Valley Cottage, NY -- (SBWIRE) -- 08/16/2018 -- Milk is a necessary source of nutrition for consumers, but the increasing levels of lactose intolerance among young and adults across the globe has downgraded its value in the food & beverage products. Dairy products such as cheese, ice-creams and yogurts are being replaced with non-dairy substitutes that promise to provide equal nutrition but at expensive prices. With every passing year, the demand for such dairy alternatives continues to spur in the global food & beverage sector, compelling manufacturers of dairy products to make the transition.

Future Market Insights' recently published forecast study on the global market for diary alternatives projects that by the end of the year 2022, more than US$ 9.5 billion worth of dairy alternatives will be sold across the globe. Over the forecast period, 2017-2022, the report expects that the global dairy alternatives market will expand at a robust CAGR of 7.1% in terms of value. Growing incidence rate of dairy allergies, which include indigestion, skin disorders and respiratory problems, will continue to drive the consumers towards dairy alternatives such as plain and sweetened cheese made from soy milk. Moreover, the easy procurement of raw ingredients such as rice, coconut, hemp and oat will facilitate mass-scale production of dairy alternatives made from the milk of these ingredients.

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US and Canada to Record Highest Consumption of Dairy Alternatives through 2022

According to the US health agency, National Institutes of Health, more than three-fifth of the human population is unable to digest lactose after birth. In East Asia, lactose intolerance is estimated to be the highest among adults. Genetic studies also show that people with Northern European, Italian, Greek, and Jewish descent are commonly intolerant to lactose. Such statistics translate into a vast consumer base for dairy alternatives. A regional analysis offered in the report reveals that North America represents the largest consumer of non-dairy products in the world. According to the findings, a majority of consumers in the US and Canada are actively switching to dairy alternatives for maintaining health lifestyles without consuming even a drop of milk. In 2017, the dairy alternatives market in the US has been estimated to reach a value of US$ 2.1 billion. The report also projects that consumption of dairy alternatives enriched with protein will be the highest in North America, compared to other regions.

Changing Dietary Lifestyles and Genetic Disorders to Drive the Demand for Dairy Alternatives

Following a dairy-free diet has numerous benefits, and is widely exercised by health conscious consumers and fitness enthusiasts. Digestive problems such as bloating continue to put several consumers in distress, compelling them to include dairy alternatives in their diets. While fermented dairy products can be digested easily, allergies associated unwanted milk ingredients such as antibodies and proteins remain a key disadvantage. Presence of proteins such as casein, and antibodies triggers release of chemicals inside the stomach, increasing the acidity levels in our body.

In infants, lactose intolerance is identified as congenital lactase deficiency caused from LCT gene mutations. Genetic association to lactose intolerance limits the effects of medicines towards improving the stomach's acceptance for milk and its products. Consumers with such genetic disorders are opting for plain unsweetened cheese, yogurt, sauces, creamers, and other products. The study projects that by the end of 2022, nearly US$ 2 billion worth of plain unsweetened products will be sold in the global dairy alternatives market.

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Key Producers of Dairy Alternatives

The study has also profiled leading producers of dairy alternatives in the global market. The Hain Celestial Group, Inc., Koninklijke Wessanen N.V., Organic Valley Cropp Cooperative, SunOpta, Inc., OATLY A.B., Califia Farms LLC, Eden Foods Inc., Danone, Earth's Own Food Company Inc., and Blue Diamond Growers, Inc. are prominent companies offering dairy alternative products in several parts of the world. Several key players in the global dairy alternatives market will be focusing on reducing the presence of allergic ingredients in almond milk and lowering the amount of carbohydrates in rice milk. Such undertakings will ensure allergy-free consumption of non-dairy products and will make dairy alternatives potable for diabetics in the foreseeable future.