PUNE, MAHARASHTRA, INDIA, October 15, 2019 /EINPresswire.com/ — Summary:
A new market study, titled “Discover Global Dairy Alternative Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Global Dairy Alternative Market
The global dairy alternative industry is expected to cross the $41 billion mark by the year 2025. The compound annual growth rate for the following period is around 16.7%, and the industry is expected to flourish by leap and bound in the next few years. The primary reason for the adoption of dairy alternatives is lactose intolerance. To solve the issue, more and more companies have come up with better alternatives that have tons of advantages. This, in turn, has worked out for the industry, and the industry is flourishing day and night.
When it comes to dairy alternatives, there is a slew of factors that affect the growth prospects of the industry. The increasing popularity of soy milk has helped the industry proliferate in recent years. The soy milk is a popular alternative with more than 63% to its name. On the other hand, rising cases of lactose intolerance, the easy availability of products, and the rise in disposable income has helped the industry grow exponentially. On the other hand, as more and more individuals come to know about the new products, the industry is expected to grow exponentially.
There are very few factors that do not work out in favor of the dairy alternative industry. Almond milk, a popular alternative to milk, has several health advantages and is known to be good for blood pressure, kidney, and heart. On the other hand, soy milk is popular for its isoflavones, which are known to reduce risks of breast cancer and heart diseases. This, in turn, has helped the industry grow by leap and bound in the next few years. A lot many companies have been working on it, and one can see a series of launches in the next few years.
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The global dairy alternative industry can be segmented into several factors that play an important role in the industry. Primarily, the global dairy alternative industry can be segmented based on product outlook, formulation outlook, and alternative applications. Based on the product outlook, the industry is segmented into soy milk, rice milk, and almond milk. On the other hand, based on the alternative formulation, the industry is segmented into plain and flavored types. On the other hand, based on dairy alternatives, the industry is segmented into food (cheese, desserts, and snacks) and beverages. Each segmentation plays a crucial role and helps individuals to have a look from multiple perspectives.
When it comes to a regional overview, the Asia Pacific region dominates the industry with the lion share to its name. More than 80% of the population of Southeast Asia suffer from lactose intolerance, which in turn has given a major boost to the alternative dairy market. The industry is expected to flourish further in North America and parts of Europe. The rise in vegan culture has also given a major push in the region, and the industry is expanding rapidly all across the globe. This has led to an increase in product portfolio and production capacity of dairy alternatives in the region while the dairy industry takes a major blow.
A recent article on Forbes highlighted the emergence of non-dairy alternatives and how it has emerged from a trend to part of life. The report briefly discussed the changes in the industry and stated the facts from the previous records. On the other hand, emphasize was also led to the production and preservation of non-dairy alternatives.
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Source: EIN Presswire