Soy milk accounted for 40.5% of the major share of the global market size analysis in 2016. The factors that
attribute to the growth of this sector is the prevention of breast cancer, and heart diseases, will upsurge the
market growth in the upcoming period. Dairy alternatives industry may be explored by application as Food, and
Beverages. Amongst the applications segment, Beverages are estimated to account for the highest growing
segment in the forecast period. Increasing demand for flavored milk products, and its growing health benefits
will upsurge the market. The market may be explored by Formulations as Plain & unsweetened, Flavored &
sweetened, Plain & sweetened, and Flavored & unsweetened. Dairy alternatives market may be explored by
distribution channel as Supermarket, Convenience Retailers, Pharmacy
Asia-Pacific has been at the forefront with regards to dairy alternatives industry and will continue to rule the
roost in the years to come. The Asia Pacific accounted for the major share of 49.7% of the global volume in 2016.
The region is estimated to continue to be a foremost user over the forthcoming period due to increasing demand
of consumer for plant-based food along with the increasing occurrence of lactose intolerance. In Asia-Pacific
region, the food and beverage market is undergoing transformation in response to the diet diversification, the
liberalization of foreign direct investment in food segment, and rapid urbanization. Asia-Pacific is followed by
North America and anticipated to be the highest growing economies for dairy alternatives market from 2013-
2024.
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Some of the key players that fuel the development of the dairy alternatives industry include Panos Brands LLC,
Organic Valley Family of Farms, Earth’s Own Food Company Inc., Eden Foods Inc., The White wave Foods
Company, Living Harvest Foods Inc., Blue Diamond Growers Inc., Grupo Le Pascual Sa, The Hein Celestial Group
Inc., The Bridge S.R.L., OATLY A.B., and Sunopta Inc. The leading companies are taking up partnerships, mergers
and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Market Segment:
Dairy Alternatives Product Outlook (Volume, Kilotons; Revenue, USD Million; 2013 - 2024)
• Soy Milk
• Almond Milk
• Rice Milk
• Others
Dairy Alternatives Formulation Outlook (Volume, Kilotons; Revenue, USD Million; 2013 - 2024)
• Plain
• Sweetened