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The North America dairy alternative market recorded a revenue of USD 2.19 billion in 2016 and is expected to grow at a CAGR of 9.5% during the forecast period (2018 - 2023). The increasing demand for healthy products and the support received from the government and health associations is driving the market.
Increasing Lactose Intolerance
Owing to increasing lactose intolerance among the North American consumers, the market for dairy alternatives has been gaining popularity over the past years. As of 2014, 74% of Native Americans were lactose intolerant. This is increasing the applications of dairy alternatives in a wide variety of food and beverages available in the market. Due to various health benefits associated with it, a large number of people are switching towards dairy alternatives, leading to a growth in dairy alternative beverages.
North American dairy market exhibits a slower growth rate owing to the weak domestic demand for dairy products and growing attraction towards dairy alternatives and lactose free products. The nutritional value of soy milk, almond milk and rice milk serve as a convenient and healthful alternative compared to dairy based milk targeting the health conscious consumers. Hemp milk is one of those greatest source of Omega-3 fats which is well-digested and contains ten essential amino acids. Soy milk is the best alternative among various dairy alternatives, especially for children’s consumption.
Soy Milk dominates the dairy alternatives market
Soy milk has the largest market for dairy alternative beverages in North America, but faces a tough competition from other dairy alternative beverages such as almond milk, and rice milk. Rice, hazelnut, and hemp milk are also growing in the dairy alternative market as they have high calcium content and other nutritional benefits similar to that of soy milk. Soy and almond milk are the most preferred milk alternatives in the U.S. The retail sales of almond milk and coconut milk grew by 46% and 35% respectively in past five years.
New product innovations along with consumer’s changing preferences in experimenting with different varieties could be one of those contributing factors which is driving the market. Thus, major players are investing in innovation with natural sweeteners and new flavors and supporting stronger growth of the market.
Major companies: WHITEWAVE FOODS COMPANY, HAIN CELESTIAL GROUP, BLUE DIAMOND GROWERS Inc. , DAIYA FOODS Inc., PANOS BRANDS Llc, EDEN FOODS Inc, SUNOPTA Inc, NUTRIOPS S.L.
Reasons to purchase this report
• Analyzing outlook of the market with the recent trends and Porter’s 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 and quantitative research incorporating the impact of economic and 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 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
• Value chain analysis
• Consumer behavior analysis in country level
Increasing Lactose Intolerance
Owing to increasing lactose intolerance among the North American consumers, the market for dairy alternatives has been gaining popularity over the past years. As of 2014, 74% of Native Americans were lactose intolerant. This is increasing the applications of dairy alternatives in a wide variety of food and beverages available in the market. Due to various health benefits associated with it, a large number of people are switching towards dairy alternatives, leading to a growth in dairy alternative beverages.
North American dairy market exhibits a slower growth rate owing to the weak domestic demand for dairy products and growing attraction towards dairy alternatives and lactose free products. The nutritional value of soy milk, almond milk and rice milk serve as a convenient and healthful alternative compared to dairy based milk targeting the health conscious consumers. Hemp milk is one of those greatest source of Omega-3 fats which is well-digested and contains ten essential amino acids. Soy milk is the best alternative among various dairy alternatives, especially for children’s consumption.
Soy Milk dominates the dairy alternatives market
Soy milk has the largest market for dairy alternative beverages in North America, but faces a tough competition from other dairy alternative beverages such as almond milk, and rice milk. Rice, hazelnut, and hemp milk are also growing in the dairy alternative market as they have high calcium content and other nutritional benefits similar to that of soy milk. Soy and almond milk are the most preferred milk alternatives in the U.S. The retail sales of almond milk and coconut milk grew by 46% and 35% respectively in past five years.
New product innovations along with consumer’s changing preferences in experimenting with different varieties could be one of those contributing factors which is driving the market. Thus, major players are investing in innovation with natural sweeteners and new flavors and supporting stronger growth of the market.
Major companies: WHITEWAVE FOODS COMPANY, HAIN CELESTIAL GROUP, BLUE DIAMOND GROWERS Inc. , DAIYA FOODS Inc., PANOS BRANDS Llc, EDEN FOODS Inc, SUNOPTA Inc, NUTRIOPS S.L.
Reasons to purchase this report
• Analyzing outlook of the market with the recent trends and Porter’s 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 and quantitative research incorporating the impact of economic and 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 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
• Value chain analysis
• Consumer behavior analysis in country level
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