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Source: Total Views: 3Word Count: 424See All articles From Author Dairy Alternatives Market is likely to experience a growth in near future
by kailaswaghmare · December 24, 2019
Dairy Alternatives Market by Source (Soy, Almond, Rice and Other Sources), Application (Food Cheap Authentic College Jerseys , Beverages, Dairy-free Probiotic Drinks and Others), Distribution Channel (Large Retail, Small Retail, Specialty Stores and Online): Global Opportunity Analysis and Industry Forecast, 2019-2026″. According to the report Cheap College Jerseys Online , 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.
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Chief reasons for market fluctuations
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 Cheap College Jerseys Wholesale , 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.
The large retail segment dominated the market
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 beverages segment to rule the roost through 2026
Based on application Cheap College Jerseys China , 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.
Major market players
Blue Diamond Growers WhiteWave Foods Company Earth’s Own Food Inc Kikkoman Corporation Rebel Kitchen Panos Brands LLC Organic Valley The Hain Celestial Group Inc Eden Foods Inc Living Harvest Foods Inc SunOpta Inc
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Asia-Pacific held the largest share in 2018, followed by North America