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.
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
North America Dairy Alternatives Market By Application
North America Dairy Alternatives Market By Formulation
North America Dairy Alternatives Market By Type of End User Industry
Food & Beverages
Nutraceuticals, Health and Wellness
North America Dairy Alternatives Market By Geography and Major Countries
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
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Time Period Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022-2027F
Key Competitors in North America Dairy Alternatives Market
Daiya Foods Inc.
Earth’s Own Food Company Inc.
Pacific Foods of Oregon, LLC.
Eden Foods Inc.
Emerging Dairy Alternatives Companies in North America
Nuts for Cheese
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 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:
https://www.kenresearch.com/business-research/north-america-dairy-alternatives-market-outlook-and-forecast-to-2027/North America Dairy Alternatives Market
Ankur Gupta, Head Marketing & Communications