Global Dairy Alternatives Market is expected to exceed USD 34 Billion by 2024
- 6 years ago
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Dairy Alternatives Market is expected to exceed USD 34 Billion by 2024, growing with double digit CAGR. Dairy Alternatives are also called plant-based milk. People who wish to stop using convention milk can now choose from a range of plant-based milk options. Milk alternatives include Soy Milk, Rice Milk, Almond Milk, Coconut Milk and Hemp Milk. Most of the stores today store both types of milk (Animal & Plant based) both in non-refrigerated boxed products as well as refrigerated varieties.
Global Dairy Alternatives market (plant-based milk) is growing due to increasing consumer awareness for lactose-free food products including cheese, desserts, and snacks are expected to drive the demand. In addition, increasing consumer focus on the healthy diet and nutritional values offered by the non-dairy product such as low calories and high proteins and vitamins is likely to have a positive impact on the industry.
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Soy Milk holds the highest Market Share
On the basis of source, the market for dairy alternatives (plant-based milk) has 4 segments: Soy Milk, Almond Milk, Rice Milk and Others. Out of all the 4 segments Soy Milk has highest market share globally. Report has also studied Dairy Alternatives market on the basis of its applications as Food & Beverages.
Roughly two thirds of the world's adult populations are lactose-intolerant. In Asia and Africa the figure is around 90%. Thus, an increasing number of consumers are choosing non-dairy milk and products which are lactose-free because of its benefits over conventional milk.
Dairy Alternatives Market is expected to exceed USD 34 Billion by 2024, growing with double digit CAGR. Dairy Alternatives are also called plant-based milk. People who wish to stop using convention milk can now choose from a range of plant-based milk options. Milk alternatives include Soy Milk, Rice Milk, Almond Milk, Coconut Milk and Hemp Milk. Most of the stores today store both types of milk (Animal & Plant based) both in non-refrigerated boxed products as well as refrigerated varieties.
Global Dairy Alternatives market (plant-based milk) is growing due to increasing consumer awareness for lactose-free food products including cheese, desserts, and snacks are expected to drive the demand. In addition, increasing consumer focus on the healthy diet and nutritional values offered by the non-dairy product such as low calories and high proteins and vitamins is likely to have a positive impact on the industry.
Request a free sample copy of the report: http://www.renub.com/contactus.php
Soy Milk holds the highest Market Share
On the basis of source, the market for dairy alternatives (plant-based milk) has 4 segments: Soy Milk, Almond Milk, Rice Milk and Others. Out of all the 4 segments Soy Milk has highest market share globally. Report has also studied Dairy Alternatives market on the basis of its applications as Food & Beverages.
Roughly two thirds of the world's adult populations are lactose-intolerant. In Asia and Africa the figure is around 90%. Thus, an increasing number of consumers are choosing non-dairy milk and products which are lactose-free because of its benefits over conventional milk.