North America Dairy Alternatives Market was worth USD 3.54 billion in 2021 and is estimated to be growing at a CAGR of 15.40%, to reach USD 7.24 billion by 2026. The market is showcasing evident potential in the mentioned forecasting period.
Dairy Alternatives products which are plant-based, are generally available in supermarkets including several milk options such as soy, almond, rice, hemp, coconut and flax. Additionally, frozen desserts, spreads, dairy-free yogurts and cheeses are also available. Soy milk has been the oldest option available to replace dairy milk. However, substitutes such as almond milk and coconut milk have grabbed the market significantly in the last couple of years.
Food and beverages which are based on Dairy alternatives are prepared from dairy-free milk, extracted from numerous plant based sources. They are gradually being consumed by lactose intolerant and vegan consumers. There is a wide range of food and beverages available in the market, prepared from milk, which in turn is derived from sources such as almond, rice, soy, coconut and others. Commonly consumed dairy alternative based products are milk, butter, ice-cream, cheese, soft drinks, energy drinks and others.
The North America Dairy Alternatives Market is driven by rapid growth in the consumption of dairy alternative products, Soy Milk being the major one of them, in the North America region. In the recent times, USA and Canada are observing an increasing demand of Dairy alternatives, mainly due to the increased disposable income, changes in the lifestyle and eating patterns. This is fuelling the growth of the dairy alternatives market in this region. Additionally, the allergies associated with dairy products and growing environmental concerns further drive the demand for dairy alternative products. The major factor restraining the growth of the dairy alternative market is the high cost of production.
The North America Dairy Alternatives Market is broadly categorized into Soy Milk, Almond Milk, Rice Milk and others. Based on formulation, the market is segmented as Plain Sweetened, Plain Unsweetened, Flavoured Sweetened and Flavoured Unsweetened. Based on Application, the market is further segmented into Food & Beverages. Soy Milk accounted for the highest revenue of the overall market and Almond Milk is anticipated to witness high growth rate during the forecast period.
Geographically the North America Dairy Alternatives Market is segmented into US, Canada and Rest of North America. The dairy alternatives market was dominated by USA, with the overall market share of over 60%. USA was followed by Canada. Canada is predicted to grow at a rapid pace in the coming few years.
Key Players in the Market:
Major Key Players in the North America Dairy Alternatives Market are
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Almond Milk
5.1.2 Soy Milk
5.1.3 Rice Milk
5.1.4 Others
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2 Formulation
5.2.1 Plain Sweetened
5.2.2 Plain Unsweetened
5.2.3 Flavoured Sweetened
5.2.4 Flavoured Unsweetened
5.2.5 Y-o-Y Growth Analysis, By Formulation
5.2.6 Market Attractiveness Analysis, By Formulation
5.2.7 Market Share Analysis, By Formulation
5.3 Application
5.3.1 Food & Beverages
5.3.2 Other Applications
5.3.3 Y-o-Y Growth Analysis, By Application
5.3.4 Market Attractiveness Analysis, By Application
5.3.5 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Formulation
6.1.3.4 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Formulation
6.1.4.4 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Formulation
6.1.5.4 By Application
6.2 United States
6.3 Canada
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 The Hain Celestial Group Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Blue Diamond Growers
8.3 Daiya Foods Inc.
8.4 SunOpta Inc.
8.5 Archer Daniels Midland Company
8.6 The WhiteWave Foods Company
8.7 Freedom Foods Group Limited
8.8 Sanitarium Health & Wellbeing Company
8.9 Earth’s Own Food Company
8.10 Nutriops S.L.
8.11 Eden Foods, Inc.
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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