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GLOBAL – Dairy alternative beverage market worth $14 billion by 2018, says report

DALLAS, US – The report “Dairy Alternative (Beverage) Market by Type (Soy, Almond, Rice), Formulation (Plain, Flavored, Sweetened, Unsweetened), Channel (Supermarket, Health Store, Pharmacy, Convenience Store) & Geography – Global Trends & Forecast to 2018”, defines and segments the dairy alternative beverage market with an analysis and forecast of revenue and volume for plant-based dairy alternative beverages.

The report from MarketsandMarkets also identifies driving and restraining factors for the dairy alternative beverage market with an analysis of trends, opportunities, burning issues, winning imperatives, and challenges.

The plant-based Dairy Alternative Beverage Market includes soy milk, almond milk, rice milk, etc. Globally, soy milk is a widely consumed dairy alternative beverage. The market for almond milk is driven by its increasing popularity among consumers.

These beverages are a part of the traditional diet in the Asia-Pacific region. The main driver of the market is the health benefit of dairy alternatives for consumers who suffer from lactose intolerance, milk allergy, etc.

Accurate marketing practices and the apt knowledge dissemination programs to educate consumers are foreseen as the biggest opportunities in the market.

The dairy alternative beverage market is projected to reach a value of $14 billion by 2018. In 2012, Asia-Pacific was the largest market for dairy alternative beverage. Soy milk dominated the dairy alternative beverage market.

The market is projected to grow with continued support from the government and health associations in different regions.

The leading players in the dairy alternative beverage market include The WhiteWave Foods Company (U.S.), Blue Diamond Growers Inc. (U.S.), The Hain Celestial Group Inc. (U.S.), etc. The leading companies prefer new product launches and expansion strategies to strengthen their position in the market.

The companies continue to invest on R&D to launch new products in different flavors, types, pack size, etc.

Source: MarketsandMarkets