Hyderabad, India -- (SBWIRE) -- 02/14/2018 -- According to a new market research report "Dairy Alternatives Market By Type (Almond Milk, Soy Milk, Rice Milk, Others), By Formulation (Plain Sweetened, Plain Unsweetened, Flavoured Sweetened, Flavoured Unsweetened), By Application (Food & Beverages) - Global Forecast to 2021", published by MarketDataForecast™, the market is expected to reach USD 22.62 Billion by 2021 from USD 11.1 Billion in 2016, at a CAGR of 15.3%.

Dairy Alternatives beverages are the plant-based milk that is processed from cereals, seeds, or nuts. The low steroid alcohol concentration and fat content in various beverages, their demand is increasing at a fast pace around the world. The world dairy farm various market is additionally gaining from the rising health awareness among shoppers. Growing shopper interest for lactose-free food merchandise together with cheese, desserts, and snacks. Rising shopper concentrate on the biological process values offered by the merchandise akin to low calories and high proteins and vitamins is probably going to possess a positive impact on the trade. These are the factors that drive the market in the forecast period.

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Soy Milk segment estimated to account for the largest market share in 2016
By Type, the Dairy Alternatives Market is classified into Soy Milk, Almond Milk, Rice Milk and others. The Soy Milk segment was found leading the global Dairy Alternatives Market in 2016. Almond Milk is expected to grow its market size with a high CAGR in the forecast period.

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Based on the formulation, the market is segmented as Plain Sweetened, Plain Unsweetened, Flavoured Sweetened and Flavoured Unsweetened.
Based on Application, the market is further segmented into Food & Beverages.

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Asia Pacific is estimated to command the largest share of the market

Based on region, the Dairy Alternatives Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among the regions, Asia Pacific has been exhibiting extremely engaging market opportunities. With the degree of health awareness among shoppers in the Asia Pacific rising at a quick pace beyond expectation, the region can showcase the best demand for dairy alternatives. Besides this, the increasing population and also the rising disposition among shoppers to pay on health merchandise expected to spice up the demand for farm alternatives within the Asia Pacific. The market conjointly witnesses profitable opportunities in North America, and Europe holds the position of the third-largest regional market within the global dairy alternatives market. The demand from each of these regions is anticipated to grow at a fast pace throughout the course of the forecast period.

Key players in the Dairy Alternatives Market include The Hain Celestial Group Inc., Blue Diamond Growers, Daiya Foods Inc., SunOpta Inc., Archer Daniels Midland Company, The WhiteWave Foods Company, Freedom Foods Group Limited, Sanitarium Health & Wellbeing Company, Earth's Own Food Company, Nutriops S.L. and Eden Foods, Inc.

The scope of the report provides:
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Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter's Five Forces
The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
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