Dublin, March 25, 2019 (GLOBE NEWSWIRE) -- The "Non-Dairy Milk Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global non-dairy milk market is projected to reach revenues of more than $38 billion by 2024, growing at CAGR of over 14% during 2018-2024.
The rising working middle-class population, rising income, changing lifestyle, and other socio-economic factors are propelling the growth of the global market. Urbanization and the rise of modern trade benefit the availability of dairy and dairy alternative products due to the reliance on chillers and cold chain logistics for categories like yogurt, and fresh milk will boost the adoption of these products in the market. The global non-dairy milk market is driven by growing popularity and demand for non-dairy ice cream and yogurt.
The demand for almond milk surpassed the demand for soy milk in North America in 2018, thereby creating lucrative demand in the global non-dairy milk market. The market research report provides in-depth market analysis and segmental analysis of the global non-dairy milk market by source type, end-product, distribution channel, and geography.
The report considers the present scenario of the global non-dairy milk market and its market dynamics for the period 20192024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Non-Dairy Milk Market - Dynamics
The popularity of vegan diets has been steadily rising. According to a recent survey, the vegan movement is led by young women. Approximately, 49% of the population are cutting down on meat consumption due to health reasons. Some of the major reasons for adoption of vegan diets includes, weight management, animal welfare and environmental protection. The US nondairy milk market which includes, cheese, creamer, butter, yogurt and ice cream witnessed a significant growth of 50% in 2018, and currently represents 15% of the overall dairy market. Non dairy cheese increased by 43%, achieving a sales of $124 million retail sales. Non dairy yogurt witnessed a growth of 55% and a retail sales of $162 million, the sales of non dairy creamers also increased by 131% in 2018.
The growing trend of health consciousness among people, which is currently seen only among certain segments of the society, is expected to increase significantly among the population during the forecast period. The modern generation is becoming more interested in pursuing a healthy lifestyle. Apart from this, there is a gradual shift among consumers towards healthier eating habits. Although dairy products are favored as per price and flavor, changing consumption habits, health and lifestyle choices is driving the growth of the market.
The modern, younger generation are now more aware of the importance of taking care of one's health. The growing trend of vegan, vegetarian, flexitarian and other new consumption habits among the millennials around the world, the demand for plant-based dairy products has been on the rise. To meet the growing demand of the market, several global dairy manufacturers launched varieties of plant-based dairy alternatives, including milk, ice cream, cream, yogurt and others.
Key Vendor Analysis
The global non-dairy milk market is fragmented due to the presence of different kinds of vendors. The top players are competing on the basis of product quality, new products, and competitive pricing in the global market. The introduction of innovative and proprietary products that cater to customer demands will result in increased investments by key manufacturers in the global non-dairy milk market.
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Market Overview
7.2 The Consumer paradigm
7.2.1 Generation Z
7.2.2 Millennials
7.2.3 Baby Boomers
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Growing preference for vegan diets
8.1.2 Rising lactose intolerance among people
8.1.3 Availability of different varieties of non-dairy milk
8.1.4 Growing number of health-conscious people
8.2 Market Growth Restraints
8.2.1 Fluctuation in raw material prices
8.2.2 Stringent regulations & health standards
8.2.3 Threats of substitutes
8.2.4 Psychological and Cultural Barriers
8.3 Market Opportunities & Trends
8.3.1 Growing investments in plant-based food & beverage industries
8.3.2 Rising number of new product launches
8.3.3 Wellness Trend Fuels Demand for All Things Plant
8.3.4 Rising demand for non-GMO food products
8.3.5 Growth in online retailing
9 Global Dairy Market
9.1 Market Size & Forecast
10 Global Non-dairy Milk Market
10.1 Market Size & Forecast
10.2 Porter's Five Forces Analysis
11 By Source
11.1 Market Overview
11.2 Soy Milk
11.3 Almond Milk
11.4 Rice Milk
11.5 Coconut Milk
11.6 Other Non-Dairy Milk
12 By End-Products
12.1 Market Overview
12.2 Milk
12.3 Yogurt
12.4 Ice cream
12.5 Cheese
12.6 Creamers
12.7 Others
13 By Distribution Channels
14 By Geography
15 APAC
15.1 Market Overview
15.2 Market Segmentation
15.3 Key Countries
15.3.1 China: Market Size & Forecast
15.3.2 Japan: Market Size & Forecast
15.3.3 Indonesia: Market Size & Forecast
16 North America
16.1 Market Overview
16.2 Market segmentation
16.3 Key Countries
16.3.1 US: Market Size & Forecast
16.3.2 Canada: Market Size & Forecast
17 Europe
17.1 Market Overview
17.2 Market Segmentation
17.3 Key Countries
17.3.1 Germany: Market Size & Forecast
17.3.2 UK: Market Size & Forecast
17.3.3 Spain: Market Size & Forecast
18 Latin America
18.1 Market Overview
18.2 Market Segmentation
18.3 Key Countries
18.3.1 Brazil: Market Size & Forecast
18.3.2 Mexico: Market Size & Forecast
19 Middle-East Africa
19.1 Market Overview
19.2 Market Segmentation
19.3 Key Countries
19.3.1 South Africa: Market Size & Forecast
19.3.2 UAE: Market Size & Forecast
20 Competitive Landscape
20.1 Competition overview
20.2 Market Strategy, Promotions, and Developments
21 Key Company Profiles
21.1 The WhiteWave Food Company
21.2 The Hain Celestial Group
21.3 Blue diamond Growers
21.4 Sunopta Inc
21.5 Sanitarium Health and Wellbeing Company
22 Other Prominent Vendors
22.1 Freedom Food Group Limited
22.2 Eden Foods
22.3 Nutriops SL
22.4 Earth's OWN Food Company
22.5 Triballat Noyal
22.6 Valsoia S.P.A
22.7 Dohler
22.8 Panos Brands LLC
22.9 Vitasoy International Holding Limited
22.10 Oatly AB
22.11 Violife Foods
22.12 Good Karma Foods
22.13 Ripple Foods
22.14 Califia Farms
22.15 Elmhurst
22.16 Chobani
22.17 NadaMoo!
22.18 Mariani WalnutMilk
22.19 Yofix Probiotics
22.20 Miyoko Kitchen
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