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MarketsandMarkets http://www.marketresearch.com/MarketsandMarkets-v3719/ Publisher Sample Phone: 800.298.5699 (US) or +1.240.747.3093 or +1.240.747.3093 (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST Fridays: 5:30am - 5:30pm EST Email: [email protected] MarketResearch.com DAIRY ALTERNATIVE (BEVERAGE) MARKET BY TYPE (Soy, Almond, Rice), FORMULATION (Plain, Flavored, Sweetened, Unsweetened), CHANNEL (Supermarket, Health Store, Pharmacy, Convenience Store) & Geography — Global Trends & Forecast to 2018 MarketsandMarkets [email protected] www.marketsandmarkets.com Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers fourteen industry verticals, including aerospace & defence, advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. Copyright © 2013 MarketsandMarkets All Rights Reserved. This document contains highly confidential information and is the sole property of MarketsandMarkets. No part of it may be circulated, copied, quoted, or otherwise reproduced without the approval of MarketsandMarkets. MarketsandMarkets Sample Page 2 Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 1 EXECUTIVE SUMMARY As a substitute to cow milk, the ‘milk’ derived from plants is considered as a dairy alternative. The dairy alternatives market has witnessed a significant growth in the last couple of years, due to a decline in cow milk consumption. Cow milk consumption has been declining due to an increased number of lactose intolerance consumers and dairy allergies reported by consumers. The dairy alternative beverage market has been segmented by types such as soy, almond, rice, and others i.e. coconut milk, hemp milk, hazelnut milk, oat milk, etc. It is further segmented on the basis of formulations such as plain-sweetened, plain-unsweetened, flavored- sweetened, flavored-unsweetened, and others that include low calorie, fortified, etc. The market has also been divided on the basis of sales channels such as supermarket, health food store, pharmacy, convenience stores, and others that include e-retailers, direct sales, etc.; and on the basis of geography such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). FIGURE 1 DAIRY ALTERNATIVE BEVERAGE MARKET VALUE SHARE, BY REGION, 2012 XX% XX% As XX% No Eu RO XX% Source: MarketsandMarkets Analysis MarketsandMarkets Sample Page 3 Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 2 PREMIUM INSIGHTS FIGURE 2 DAIRY ALTERNATIVE BEVERAGE SEGMENTATION Global Dairy Alternative Beverages Market Types Formulations Sales Channels Geography Soy Milk Plain-Sweetened Supermarket North America Almond Milk Plain-Unsweetened Health Food Stores Europe Rice Milk Flavored-Sweetened Pharmacy Asia-Pacific Others* Flavored-Unsweetened Convenience Store ROW Others** Others*** Others* : Coconut milk, hazelnut milk, hemp milk, etc. Others** : Low calorie, fortified, ‘free-from’, etc. Others*** : E-retailers, direct sales, etc. Source: MarketsandMarkets Analysis The dairy alternative beverage market was segmented based on types, formulations, sales channel types, and geography. The types of dairy alternative beverages include soy milk, almond milk, rice milk, and others such as oat milk, coconut milk, etc. The formulations of the market is sub-segmented into plain-sweetened, plain-unsweetened, flavored-sweetened, flavored-unsweetened, and others such as fortified dairy alternatives, ‘free-from’ labeled products, etc. Dairy alternatives are available through various sales channels that include supermarket, health food satores, pharmacy, convenience stores, and others such as e- MarketsandMarkets Sample Page 4 Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 retailers, direct sales, etc. The market was also segmented on the basis of geography such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). MarketsandMarkets Sample Page 5 Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 3 INDUSTRY ANALYSIS 3.1 SUPPLY CHAIN ANALYSIS FIGURE 3 DAIRY ALTERNATIVE BEVERAGE: SUPPLY CHAIN ANALYSIS Dairy alternative Beverage Packaging Distribution Dairy Alternative Beverage Processing Retail Consumer Transport of Raw Material Cereal & Nut Cultivation Source: USDA, Progressive Grocer, and MarketsandMarkets Analysis MarketsandMarkets Sample Page 6 Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 The dairy alternative beverages industry includes farmers, associations, etc. as their suppliers. The suppliers provide F&B processors with raw materials such as cereals and nuts to process and extract milk. The processing and extraction of dairy alternative milk is followed by its packaging. The F&B manufacturers usually have an agreement or partnership with packagers, co-packers, transporters, logistics, for the proper storage and distribution of the products. The dairy alternative beverages are available in refrigerated packaging as well as non-storage packs in the retail outlets. These products are available through different sales channels such as supermarket, health food stores, pharmacy, etc. MarketsandMarkets Sample Page 7 Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 4 MARKET OVERVIEW 4.1 WINNING IMPERATIVE 4.1.1 PRODUCT PROMOTION Companies utilize natural and organic label to promote their products and be identified amongst the others. Most of the promotional strategy includes advertising in distribution catalogs and cooperative advertising. An appropriate combination of media to generate awareness influences the market growth. The companies achieve enhancement of brand equity and increased sales through the correct way of promotion. A consumer-relationship program serves to be another criterion to sustain in the market. This eventually impels the growth of the product, brand, and company. Provision of sponsorships and participation of events improves brand recognition. Considerable growth has been observed after the adoption of these promoting aspects. 4.2 BURNING ISSUE 4.2.1 ADDED ADDITIVES The market for dairy alternatives such as almond milk, rice milk, soy milk, etc. has been increasing as it satisfies the requirements of the lactose intolerant, vegans, milk allergic individuals, and healthy diet followers. Although dairy alternatives have several nutritional benefits, they have additional additives such as carrageenan, gums, thickening agents, etc., that provides a creamy texture to the product. The presence of these hydrocolloids reduces ingestion and may cause gastrointestinal problems. The Joint Expert Committee on Food Additives (JECFA) considers Food-grade carrageenan to be safer as it passes through without digestion, but the non-food grade carrageenan has been considered carcinogenic by the World Health Organization’s International Agency. Addition of carrageenan in dairy alternative beverages also created a MarketsandMarkets Sample Page 8 Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 controversy in the market due to a few consumers’ myths towards the unhealthy output of carrageenan consumption. 4.3 IMPACT ANALYSIS FIGURE 4 IMPACT ANALYSIS OF THE DAIRY ALTERNATIVE BEVERAGE MARKET XX Medium Growth Impact High Growth Impact XX XX XX XX XX XX XX XX XX Low Growth Impact XX XX XX XX XX Source: MarketsandMarkets Analysis The different health benefits of dairy alternative have highly impacted their sales globally. This driver has shown a high growth impact on the market. Intolerance of lactose and milk allergy has been the second most influencing driver of this market. Better diagnosis and consumer education denotes a huge opportunity to this market. Also, marketing and positioning the product in the market impacts the growth of the company to a certain extent. MarketsandMarkets Sample Page 9 Dairy Alternative (Beverage) Market – By Type, Formulation, Channel & Geography — Global Trends & Forecast to 2018 4.3.1 DRIVERS 4.3.1.1 Health Benefits Drives The Plant-Based Beverage Market Companies market their products on the health platform that has helped change the consumers’ perception and has accelerated the sales. Nutritional benefits of plant-based dairy alternatives have enhanced their consumption. Soy milk has been majorly consumed, as it is a rich source of omega-3 fatty acids, protein, and fiber. Along with this, it contains isoflavones that have antiestrogenic and anticancer properties. Almond milk is rich in calcium and vitamin E. This is why it has been recommended for both skin and bone health. Hemp milk possesses essential fatty acids such as omega fatty acid
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