Cibi e Bevande
Dairy Alternatives Market to Garner $35.80 Bn, Globally, by 2026 at 13.6% CAGR, Says Allied Market Research
PORTLAND, Oregon , Dec. 4, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, " ". According to the report, the global dairy alternatives industry was pegged at $13.02 billion in 2018 and is projected to reach $35.80 billion by 2026, registering a CAGR of 13.6% from 2019 to 2026.
Increase in demand for plant-based milk, rise in disposable income, and surge in awareness regarding benefits of dairy alternative products have boosted the growth of the global dairy alternatives market. Furthermore, the increase in the vegan population fuels the growth of the market. However, prominence of low cholesterol and low-fat conventional milk and high cost of dairy alternative milk impede the growth to certain extent. On the contrary, rise in dairy allergic consumers and innovation in taste and flavor of dairy alternative beverages are the factors expected to create lucrative opportunities in the near future.
Based on application, the beverages segment held the largest share in 2018, accounting for nearly three-fourths of the global dairy alternatives market. Furthermore, the segment is expected to maintain its dominance throughout the study period. Moreover, the segment is expected to portray the fastest CAGR of 14.0% during the forecast period. This is due to increase in demand for plant-based chemical-free milk by lactose intolerant population and growing popularity of dairy free probiotic drinks.
Based on distribution channel, the large retail segment held the lion's share in 2018, contributing to more than half of the global Dairy alternatives market. This is owing to rise in adoption of large retail formats such as supermarket and hypermarket in both the mature and emerging markets. However, the online segment is expected to manifest the fastest CAGR of 14.8% during the forecast period. This is due to increase in penetration of Internet at a global level, rise in popularity of online shopping, and surge in dependence of consumers on mobile banking.
The global Dairy alternatives market across Asia-Pacific dominated in 2018, contributing to more than two-fifths of the market. Moreover, the region is expected to register the fastest CAGR of 14.5% during the study period. This is due to rise in the trend of veganism and surge in consumers' awareness about health and fitness in the region. On the other hand, North America held the second-largest share in terms of revenue.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA /Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong : +852-301-84916
India ( Pune ): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg