DAIRY ALTERNATIVE MARKET ANALYSIS

Dairy Alternative MarketSize and Trends

Dairy Alternative Market Outlook- Asia Pacific is the fastest growing region

In Asia Pacific, increase in number of dairy-allergic consumers is expected to boost the revenue of the dairy alternatives market. Increasing demand for lactose-free food products and consumer preference toward nutritional food are also projected to fuel the market growth. The nutritional value of animal milk is same as that of plant-based milk.

In addition to lactose-free, dairy alternatives are also sources of amino acids, fibers, and vitamin B, which are essential for human body, hence dairy alternatives market is expected to witness an exponential growth over the forecast period.

With dietary diversification and high investments in R&D, the manufacturers are focusing on innovations to expand their portfolio and to achieve a competitive edge. In December 2016, Organic Valley, one of the leading companies of dairy alternatives products made headlines for expanding its production in Mid-Atlantic. In April 2017, a successful entrepreneur, Adam Lowry teamed up with chemical engineers and launched first yellow pea-based milk, Ripple, which claims to have more protein as compared to almond milk.

Market- Trends

The demand for dairy alternatives is driven by the low-fat content and low cholesterol concentration in it. Increase in obese and vegan population and rising health awareness among public globally are expected to propel the market growth.