Global $14.36 Billion Dairy Alternatives Market 2017-2022 - Breakdown by Soy, Almond, Coconut, Rice, Oat & Hemp

The dairy alternatives market is projected to grow at a CAGR of 11.7% from 2017, to reach USD 14.36 Billion by 2022

The growth of this market can be attributed to the inclination of consumers toward a vegan diet, growing instances of lactose intolerance among the population, and the growing demand for various fortified dairy food & beverage applications.

Though most dairy alternatives are similar to dairy milk in terms of texture and taste, the price of dairy milk is relatively lower than that of its alternatives. The dairy industry in most countries operates in an organized structure and has a lower rate of turnover tax, which reduces the price of the product. On the other hand, the price of dairy alternatives depends on the supply of raw materials. Changes in climatic conditions have resulted in the shortage of raw materials, which in turn, has increased their prices.

For instance, the price of raw materials is increasing due to the poor harvesting of crops in Asian countries such as India and Pakistan. Such fluctuations are posing challenges to the dairy alternatives market. Further, clinical trials and safety testing require substantial investments. Significant investments in R&D activities, laboratories, and research equipment, and hiring trained professionals also pose as a barrier for this market.

Market Dynamics

Drivers

Restraints

Opportunities

Challenges

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Dairy Alternatives Market, By Formulation

7 Dairy Alternatives Market, By Type

8 Dairy Alternatives Market, By Application

9 Dairy Alternatives Market, By Nutritive Component

10 Dairy Alternatives Market, By Region

11 Competitive Landscape

12 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/mtd5s5/dairy

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