(Entertainment-NewsWire.com, May 14, 2018 ) Overview: Dairy Alternatives merchandise are usually plant-based, are typically offered in supermarkets as well as many milk choices equivalent to soy, almond, rice, hemp, coconut, and flax. in addition, frozen desserts, spreads, dairy-free yogurts, and cheeses also are obtainable. Soy milk has been the oldest choice offered to substitute dairy milk. However, substitutes akin to almond milk and coconut milk have grabbed the market considerably within the last few years.
The North America dairy Alternatives Market was valued at USD 2.66 billion in 2016 and is approximated to be growing at a CAGR of 15.40%, to achieve USD 5.45 billion by 2021. High demand for dairy milk alternatives for producing medical food for lactose intolerance ailments, thanks to its lactose-free nature, is predicted to propel the trade growth.
Drivers and Restraints: The nutritional advantages offered by dairy alternative merchandise similar to low fat content, high protein content and therefore the incorporation of the same in daily food merchandise by makers is predicted to profit the market. Rising variety of allergies related to non-vegan foods and also the resultant ever-changing dietary preferences of shoppers is anticipated to propel the demand for the merchandise over the forecast amount.
Food segment of the market is projected to be the quickest growing application section on account of rising health awareness among shoppers, lactose intolerance cases and therefore the resultant high demand for non-dairy cheese and other products. Whereas all regions have been experiencing a spike in demand for dairy alternatives in beverages, North American markets particularly have been experiencing a really high rate of increase in demand for almond milk.
Geographical Segmentation: Based on geography, the North America market is examined underneath numerous regions specifically the USA and Canada. The dairy alternatives market was dominated by the USA, with its market share of well over 60%. Canada is foreseen to grow at a fast pace within the next few years with the rising numbers of individuals who are either dairy intolerant or who need to change to a totally plant-based diet.
There are many companies which are dominating the North America Dairy Alternatives Market, some of the key players include Sanitarium Health & Wellbeing Company, Nutriops S.L., SunOpta Inc., The Hain Celestial Group Inc., Blue Diamond Growers, Daiya Foods Inc., Earth’s Own Food Company, The WhiteWave Foods Company, Freedom Foods Group Limited, Archer Daniels Midland Company and Eden Foods, Inc.
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