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Dairy Alternatives Market to Achieve over 10% CAGR up to 2025: Global Market Insights, Inc.


Added 01-16-20 07:04:03pm EST - “Global dairy alternatives market research studies the types of products (almond, soy, coconut, oat, rice, hemp), their application (food {cheese, deserts, snacks}, beverages), formulation (sweetened, unsweetened), sales channel (mainstream…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Dairy Alternatives Market to Achieve over 10% CAGR up to 2025: Global Market Insights, Inc.”. Below is an excerpt from the article.

SELBYVILLE, Delaware, Jan. 16, 2020 /PRNewswire/ -- Global dairy alternatives market research studies the types of products (almond, soy, coconut, oat, rice, hemp), their application (food {cheese, deserts, snacks}, beverages), formulation (sweetened, unsweetened), sales channel (mainstream stores, specialty stores, online stores), regional outlook, price trends, growth potential, competitive market share and provides forecasts for 2019–2025. Global Market Insights, Inc., forecasts more than 10% CAGR for the worldwide dairy alternatives industry up to 2025.

With changing consumer preference for vegan based products, the global dairy alternatives market is expected to chalk out remunerative growth trend through a diverse range of verticals. In fact, due to growing health consciousness, the demand for flavored milk from almond, coconut, soy, oats, hemp, and rice is rising because of improved minerals and vitamins uptake. Additionally, manufacturers are more focused in developing new flavors for plant based frozen yogurt and ice-cream in an effort to gain a competitive advantage.

Furthermore, availability of raw material due to substantial production growth along with low initial investments for start-ups has resulted in increased competitiveness of the industry. As per SOPA, global soy production has increased to around 361 million metric tons in 2018 from around 320 million metric tons in 2014.

With respect to product, the almond based dairy alternatives will observe the speediest CAGR of about 8.5% between 2019 and 2025. Growing production of almonds as well as the increasing consumer awareness regarding their health benefits will also influence the development of the industry. Almond milk offers various benefits like low calorie content, reduced levels of cholesterol and higher dairy value for vitamin E and vitamin D, increasing its demand among the health conscious.

With respect to application segment, beverages hold a significant share in the dairy alternatives market. The ratio of plant-based beverages compared to other alternatives is higher along with the growing demand for milk. Products like ice-cream, yogurt and cheese are difficult to produce from oats, hemp and rice, and do not match the taste & texture of its dairy equivalents, thereby supporting the penetration rate for plant-based milk.

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