The global dairy alternatives market to grow at a CAGR of 13.60% during the period 2017-2021.
Global Dairy Alternatives Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenues generated from various geographical regions and the sales data of the various major vendors operating in the global dairy alternatives market.
One trend in the market is increasing market exposure for dairy alternatives due to online retailing. The increasing popularity of e-commerce businesses worldwide has provided vendors with an opportunity to enhance their profit margins and revenues. Online and e-commerce channels support both business-to-consumer (B2C) and business-to-business (B2B) operations.
According to the report, one driver in the market is rising demand for almond milk. Over the past five years, almond milk has emerged out to be the fastest growing category in the dairy alternatives industry. There has been a significant increase in new product launches featuring almond milk both in food as well as beverages.
The almond milk market in the US has grown more than three folds during 2011-2015. In 2016, the sales of almond milk in the US is nearly $1 billion. The sales of almond milk have surpassed the sales of soy milk in the UK. In 2016, the sales of almond milk and its products in the UK was approximately $200 million.
Further, the report states that one challenge in the market is cross contamination. The threat for cross contamination is high in the dairy alternatives industry as most of the vendors and manufacturers purchase or source the ingredients, raw materials, and commodities from third party suppliers. Improper handling of these products during the logistics can lead to the contamination of raw materials and other ingredients.
Contamination in beverages and food will affect the safety and quality of the products that could result in products being recalled or discarded, which, in turn, will adversely affect the reputation of vendors and customer confidence in the dairy alternatives sector. Also, stringent rules and regulations imposed by governments to maintain the quality of daily alternatives can worsen the dairy alternatives industry.
Increasing market exposure for dairy alternatives due to online retailing