Asia-Pacific Dairy Alternatives Market - Growth, Trends, and Forecast (2018 - 2023)

SKU ID : INH- 12346762

Publishing Date : 05-May-2018

No. of pages : 100

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  • Milk and dairy products are globally considered essential to the daily diet due to vital nutrients, vitamins, and amino acids. The Asia-Pacific dairy alternative market was valued at USD 4100.0 million in 2016. It is expected to grow tremendously due to the enhanced demand over the years. The largest market of dairy alternative and maximum growth of Asia-Pacific is likely to contribute a major share in the overall growth of dairy alternatives industry in 2018-2023.

    Market Dynamics

    In East and Southeast Asia, where 90% of the population is estimated to be lactose-intolerant, the market penetration of lactose-free products is relatively low, due to the lack of awareness of the benefits associated with such products. Unlike the regular dairy beverages, they have low cholesterol and low fat content. Hence, the awareness among niche audience has led many vegans to opt for such products, as they are concerned about growth related hormones and antibiotics found in the animal milk processed by dairy industry.

    Market Segmentation

    The soy milk and the other dairy alternative beverages market in Asia-Pacific is growing as manufacturers are launching new products for specific customer segments. In the Asia-Pacific region, soy milk was initially bought as a soft drink. However, product innovations made it popular as a functional beverage and dairy alternative. The food manufacturers launched various soy milk forms to meet the increasing consumer demand for health beverages, pasteurized soy milk as dairy alternatives and novel flavors of soy drinks. Soy milk, rice milk, and so on, are widely consumed by consumers as a traditional beverage in the Asia-Pacific region.
    Asia-Pacific, with over 4.3 billion citizens and a population with high lactose intolerance, has very few options of lactose-free products for adults. The Asian market is dominated by lactose-free milk, and milk for children, pregnant women, and lactating mothers. This provides a wide scope for various lactose-free products for the adult market to enhance the horizons in the Asia-Pacific market. Therefore, the Asian market is leading the market and expected to grow exponentially. For instance, China is expected to have an annual growth rate of 10 percent despite the fact that a large portion of the disposable incomes are not yet sufficient for purchasing lactose free products, which are expensive compared to normal dairy products.

    Key Developments

    • July 2017 - SunOpta sold off equipment of one of two Lehigh Valley production lines. The sale was made in conjunction with its decision to discontinue flexible, resalable pouch products as part of its ongoing strategy, which had it “exiting product lines where the company is not effectively positioned”.
    • March 2017 - Hain Celestial featured 75 Exciting New Natural Products at Expo West 2017.

    Major players - ARCHER DANIELS MIDLAND COMPANY, BLUE DIAMOND GROWERS INC., DAIYA FOODS INC., EARTHS OWN FOOD COMPANY INC., EDEN FOODS INC., FREEDOM FOODS GROUP LTD., NUTRIOPS S.L., PANOS BRANDS LLC., SANITARIUM HEALTH & WELLBEING COMPANY, SUNOPTA INC., THE HAIN CELESTIAL GROUP INC., THE WHITEWAVE FOODS COMPANY, among others.

    Reasons to Purchase this Report

    • Analyzing outlook of the market with the recent trends and Porters five forces analysis
    • Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
    • Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
    • Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
    • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
    • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
    • 3-month analyst support, along with the Market Estimate sheet (in excel)

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