(Food-Beverage-News.Com, September 19, 2018 ) According to Verified Market Intelligence, the global dairy alternatives market was valued at USD 7.15 billion in 2016 and is projected to reach USD 18.89 billion by 2025, growing at a CAGR of 11.4% from 2017 to 2025.
Dairy alternatives are referred to as the food substitutes that resembles the dairy products in appearance and taste but differs in its composition. These dairy alternatives are essential for a healthy balanced diet as they are an excellent source of vital proteins, calcium, and vitamins. Some examples of dairy alternatives are soy milk, Cashew Milk, coconut milk, Hemp Milk rice milk.
Growing vegan culture, advantages of plant-based dairy alternative products and increasing occurrence of the milk allergies are the driving factors for the global dairy alternatives market. While the high price of products and limited availability of raw materials and processing plants acts a potential restraint for the overall market at a global level.
Competitive Landscape:
The major players in the market are as follows:
Daiya Foods Inc. Earth’s Own Food Company Inc. Panos Brands LLC. Eden Foods Inc. Freedom Foods Group Ltd. Blue Diamond Growers Inc. The Hain Celestial Group Inc. The WhiteWave Foods Company Sanitarium Health & Wellbeing Company Sunopta Inc. Archer Daniels Midland Company Nutriops S.L. Döhler GmbH Triballat Noyal
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