Market Research Future (Food and Beverages) Dairy Alternative Market Research Report | Page 3

Global Dairy Alternative Market Research Report- Forecast to 2022
2 Market Overview
Demand for dairy alternative has increased substantially in recent years. Most dairy alternative products are
produced using plant based milk, which is casein and lactose free. Ingredients such as almond, soy, rice, coconut,
and hazelnut are amongst the primary sources of dairy alternative products. Growing food awareness and innovation
in food has created tremendous opportunities for dairy alternative food. The latest study conducted by Market
Research Future (MRFR) reveals that the global market for dairy alternative is set to rake in over USD 19 Bn by
2022-end. Between 2017 and 2022, the market is projected to witness a robust CAGR of 14.55%.
Dairy products are often found to be the root cause for various types of food allergies and has become a major worry
amongst modern consumers, especially the ones who are extremely health conscious. Since dairy alternatives are
lactose-free, they pose minimum allergy risks. In addition, dairy alternatives made from plant-based ingredients have
high nutritional content and tremendous food value. Evolving consumer preference and expansion of the foodservice
industry are factors partly influencing the global market for dairy alternative. There is a shift in social habits with
growing trend of ready-to-eat and fast-food, which has bolstered take-away food shop, in-store restaurants and pub-
restaurants business. Commercial production of dairy alternative has increased to substantial extent and now starting
to compete with conventional food categories. Changing dietary habits and demographic trends will play an important
role in shaping the growth dynamics for the market in the near future. Concurrently, manufacturers are also realising
the importance of marketing and building an image of their products.
Latest Industry News:
Lifeway Foods, Inc. has recently revealed the company will display a new rang products, which will include dairy
alternatives in this year’s Natural Products Expo West event. The company is aiming to tap into the opportunities
arising from rowing demands for vegan and dairy-free products.
Innocent, a subsidiary of drinks giant Coca Cola is reportedly entering the fray of dairy alternative drinks business to
challenge Alpro’s dominance. The company is gearing up launch tree different non-dairy alternative drinks.
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