According to the research report titled ‘Global Dairy Alternatives Market Size By Product, By Application, By Formulation, By Sales Channel Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, global dairy alternatives market is expected to generate admirable returns by the year 2025.
 

Shifting inclination towards vegan products due to increasing health awareness is driving the dairy alternatives market growth. There has been an upsurge in demand for flavored milk from hemp, oats, rice, coconut, almond and soy owing to its superior minerals & vitamins content. Various manufacturers are concentrating on producing innovative flavors of frozen yogurt and plant-based ice cream, in turn creating lucrative growth avenues for dairy alternatives market.
 

Products based on dairy alternatives offer low calorie content and reduced cholesterol level. They also improve the product taste and flavor. Rapid expansion of the distribution network along with rising concerns regarding lactose intolerance and increased pervasiveness of diarrhea and bloating are further fueling the market expansion.
 

As per the product type, almond-based dairy alternatives market segment is expected to register a growth rate of 8.5% during 2019-2025. Almond milk offers high vitamin D & E, low cholesterol levels and reduced calorie content. Increasing production of almond in order to meet the growing demand along with rising awareness pertaining to its health benefits are favoring the market outlook.
 

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The report states that dairy alternatives market size from beverages segment is slated to expand substantially during the forecast period. Factors such as growing demand for plant-based milk products, increasing import & export activities, easy availability of distinctive products, and flavor innovations are contributing towards the growth of the segment.
 

In terms of formulation, unsweetened dairy alternatives market segment is anticipated to grow decently through 2025. Rising consciousness pertaining to healthy lifestyle along with increasing concerns regarding use of sweeteners, especially in Europe and North America is boosting the adoption of unsweetened dairy alternatives.
 

Citing the sales channel, mainstream stores segment accounted for significant market share in 2018 and is poised to accrue similar returns in the subsequent years. Rapid expansion of hypermarkets and supermarkets coupled with shifting preferences towards takeaway products are positively influencing the segmental growth.
 

Considering the geographical landscape, Asia-Pacific dairy alternatives industry is set to record a growth rate of 10% through 2025, primarily due to evolving lifestyle and rising per capita income in Indonesia, Japan, India and China.
 

The established companies in dairy alternatives market are Sunopta, Pacific Foods, Freedom Foods, Hain Celestial Group, Valsoia S.p.A., Blue Diamond Growers, and Danone among others.