Dairy Alternatives Market Predicted to Register CAGR of 9.9% Till 2021 Largely Due TO Rising Asia-Pacific Requirements
Hyderabad, India, March 14, 2017 (GLOBE NEWSWIRE) — The report “Dairy Alternatives (Beverage) Market: By Type (Almond, Soy, Coconut, Cashew, Oats); Formulation (Plain, Flavored, Sweetened, Non-Sweetened); Channel (Super Markets, Convenience Stores, Health Food Stores, Pharmacies) Forecast (2016 – 2021)”, published by IndustryARC, estimates that new nutrients and heal conscious additives will boost future demand.
Browse 9 Market Tables, 44 Figures spread through 111 Pages and an in-depth TOC on “Dairy Alternatives Market 2016 – 2021”
Scope & Regional Forecast of the Dairy Alternatives Market:
Dairy alternative beverages are plant based milk extracted from various sources such as Soya, nuts and cereals. These milk substitutes have been gaining prominence in the food and beverages industry with the rising demand from vegans and dairy intolerants. Additionally, with the growing concern on obesity, consumers have been preferring substitutes which have less cholesterol level as compared to the dairy products. Increasing cases of lactose allergy across various countries is also one of the primary drivers of this market. Dairy alternatives are available in various flavors and are priced higher than conventional milk.
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Driven by the rising preference for lactose-free products coupled with increasing concern for heart related diseases, the market for Almond milk is estimated to grow rapidly in the coming years. Similar to Almond milk, the demand for coconut milk has also grown at double digits especially in the North-American region. Leading companies have been active in adding products based on other substitutes such as cashew milk and hemp milk. The market for dairy alternatives have been witnessing several trends in terms of flavors, packaging, fortification with nutrients and branding. These trends are expected to intensify owing to the increasing penetration of packaged foods in developing nations and increasing preference for nutritional products.