What Is the Size of North America Dairy Alternatives Industry?
North
America Dairy Alternatives market is growing at a CAGR of ~% in
2017-2021P and is expected to reach ~USD Bn by 2027F. The major drivers for the
increase in consumption of Dairy Alternatives in North America is increasing
occurrence of lactose intolerance, and rising
consumers’ environmental concerns which are positively influencing an increase
in the adoption of dairy alternatives in North America.
Growing individuals concern regarding animal welfare, and food processing
are prompting individuals to seek environmentally sustainable food alternatives,
resulting in an increase in vegan food demand. Dairy alternatives' ability to
integrate with new material sources and advanced technologies, manufacturers
are overcoming taste & texture challenges to produce alternative options
that more accurately reflect conventional dairy. For instance, Dairy alternatives containing enzyme-modified oat products
are becoming increasingly popular.
Food scientists/manufacturers are
reviving dairy-like qualities in products such as dairy-free whey and
dairy-free casein proteins derived from highly precise fermentations. This is a
step forward in the advancement of dairy alternatives. Furthermore, new
ingredients and formats are also likely to emerge, challenging existing
plant-based offerings as eventually more environmentally friendly alternatives.
North America Dairy alternatives market by source
The Soy segment in North America Dairy Alternatives market is growing at
a CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn by 2027F. The growth
is majorly attributed by the growing demand domestic demand for soybean. Following
the Soy segment, the Oat segment will experience significant growth during the
forecasted period, owing to the health benefits of beta-glucans, which limit
the effectiveness of cardiovascular diseases, and dietary benefits, that
contain high levels of calcium and Vitamin B12, are bolstering their market
growth.
Coconut milk is becoming more popular in the food and beverage service
industry as it can be stored and used for an extended period of time, lowering
operational costs. The coconut segment is predicted to grow at an annual
compound growth rate of ~% to reach ~USD Bn by 2027. Moreover, the extensive
use of coconut milk in processed foods, such as cookies, cakes, pies, soups,
milkshakes, and ice cream are fuelling their demand, particularly in fast food
chains and restaurants that use it as a fresh ingredient substitute.
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North America Dairy Alternatives market by applications
The North America Cheese market is growing at a fastest CAGR of ~% in
2017-2021 and is expected to reach ~USD Bn by 2027F. The increased consumption
of Italian dishes, such as pasta, pizza, and caprese salad across North America
is driving the demand for non-dairy cheese.
Increasing demand for nutrient-rich foods that are healthy and minimize
the risk of allergen disorders in both young and old individuals has accelerated
the demand for non-dairy yoghurt. Following the emergence of COVID-19, there was a surge
in consumer interest in healthy food products that could boost their immune responses
to the coronavirus. As a result, dairy alternatives, particularly yoghurt, have
become an important part of a healthy and balanced diet.
The exponential development in commercial exploitation, combined with
rising plant-based milk production, is driving demand in the non-dairy ice
cream market. In addition, product innovation to improve taste and
technological advancements in the industry give the market a positive outlook.
North America Dairy alternatives market by formulation
The Flavoured segment in North America Dairy Alternatives market is
growing at a highest CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn
by 2027F. The growth is majorly attributed by the emergence of a variety of
flavored dairy alternatives such as hazelnut, coffee, caramel, and vanilla. Consumers
are shifting toward products that provide adequate nutrition as well as good
taste, resulting in an increase in demand for flavoured dairy-free products.
The availability of unsweetened flavoured dairy alternatives is assisting
in increasing milk alternative consumption, particularly among children, as
parents nowadays typically seek more nutritious diet options as well as
appealing taste for their children. As a result, it may increase their
children's overall participation in milk consumption.
Moreover, growing concerns about calories, fat, and sugar as components
of diets containing have put sweetened flavoured milk at risk of being withheld
from children, resulting in an increase in demand for unsweetened flavoured
dairy-free foods and beverages.
Key
Segments Covered in North America Dairy Alternatives Market:-
North
America Dairy Alternatives Market By Source
Soy
Almond
Oats
Coconut
North
America Dairy Alternatives Market By Application
Milk
Cheese
Yoghurt
Ice Creams
North
America Dairy Alternatives Market By Formulation
Plain
Flavored
North America
Dairy Alternatives Market By Type of
End User Industry
Food & Beverages
Nutraceuticals, Health
and Wellness
FMCG
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North America Dairy Alternatives Market By
Geography and Major Countries
U.S.
Canada
Mexico
Key Target
Audience
Non-Dairy
Products Manufacturers
Vegan Dairy
Products Manufacturers
Lactose-Free
Products Manufacturers
Raw
Material Suppliers for Non-Dairy Products
Potential
Investors in Plant-Based/Vegan Food and Beverages
Plant-based
Food & Beverages Distributors
Dairy Alternatives
Advocacy Groups
Time Period
Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022-2027F
Companies Mentioned:-
Key Competitors in North
America Dairy Alternatives Market
Danone
SunOpta Inc.
Blue Diamond
Daiya Foods Inc.
Oatly Inc.
Sahmyook Food
Earth's Own Food Company Inc.
Pacific Foods of Oregon, LLC.
Eden Foods Inc.
Kite Hill
Emerging Dairy
Alternatives Companies in North America
Miyoko’s Creamery
Betterland Foods
New Culture
Nuts for Cheese
Bettermoo(d)
BetterMilk Inc.
Heartbest
Sigma Alimentos
Key Topics
Covered in the Report:-
Snapshot of North America Dairy Alternatives
Industry
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of North America
Dairy Alternatives Market
Historic Growth of Overall North America Dairy
Alternatives Market and Segments
Competition Scenario of the Market and Key
Developments of Competitors
Porter’s 5 Forces Analysis of North America Dairy
Alternatives Industry
Overview, Product Offerings and SWOT Analysis of
All the Key Competitors
Covid 19 Impact on the Overall North America
Dairy Alternatives Market
Future Market Forecast and Growth Rates of the Total
North America Dairy Alternatives Market and by Segments
Market Size of End User Industries with
Historical CAGR and Future Forecasts
Analysis of North America Dairy Alternatives Market
in Major North American Countries
PESTLE Analysis and Major Production / Consumption
Hubs in the Major Countries
Major Production/Supply and Consumption/Demand
Hubs in Each Major Country
Major Country-wise Historic and Future Market Growth
Rates of the Total Market and Segments
Overview of Notable Emerging North America Dairy
Alternatives Companies within Each Major Country
Dairy Alternatives Market
Non-Dairy Foods Market
Vegan Foods Market
Veganism Market Sales
Plant-Based Foods Market
Plant-Based Milk Market
Milk-Derived Products Market
Lactose-Free Market
Lactose Intolerance Market
Dairy Alternatives Health Benefits
Dairy Alternatives Sources
Dairy Alternatives Formulations
Dairy Alternatives Applications
Dairy Alternatives End-User Industries
U.S. Dairy Alternatives Market
Dairy Alternatives Market in U.S.
U.S. Vegan and Plant-Based Milk Market
U.S. Non-Dairy Milk Market
U.S. Plant-Based Dairy Alternatives Market
Heartbest Dairy Alternatives Market
Sigma Alimentos Dairy Alternatives Market
Miyoko’s Creamery Dairy Alternatives Market
For More
Information on the research report, refer to below link:
North America Dairy Alternatives Market
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