Dairy Alternative Beverage Market Projected to Reach $14 Billion by 2018 - Report by MarketsandMarkets
(PRWEB) October 31, 2014 -- The report "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," defines and segments the dairy alternative beverage market with an analysis and forecast of revenue and volume for plant-based dairy alternative beverages.
The global market is projected to reach $14 Billion by 2018 with the Asia-Pacific region as the largest and fastest growing. North America was the second largest market dominated by the U.S.
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Browse more than 171 market data tables with 42 figures spread through 318 pages and in-depth TOC on "Dairy Alternative (Beverage) Market - Global Trends & Forecast to 2018."
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The dairy alternative beverage market grows with the increasing consumer demand for healthy products such as low calorie, low cholesterol, fortified products, etc. The increasing popularity of dairy alternatives has attracted new players in the market. The new players that enter the market focus on R&D to introduce new products and expertise on the health benefits of dairy alternatives.
The market for plant-based dairy alternative beverage grows with the increasing demand for healthy products and support from the government and health associations. The increasing demand is also attributed to nutritional and health benefits of beverages. Consumers demand new products and options for dairy alternatives. The key companies enforce this demand by introducing new products and through the expansion of their production to meet increasing demands for dairy alternative beverages. They also invest in R&D to introduce fortified products that have nutritive characteristics, which are similar to dairy milk.
The dairy alternative beverage market is fragmented and competitive. Leading companies are involved in new product launches and in the expansion of new facilities. A total of 34 new developments were recorded in the market from 2009 to 2013. The Increasing Demand For Various Dairy Alternative Beverages In Developing Countries has led the companies to adopt new product launches as their most preferred strategic approach. SunOpta Inc. (Canada) is recorded as one of the most active players in the market.
The leading companies continue to invest in R&D programs to develop new products with different flavors to satisfy their consumers’ needs. The leading players in the market such as The Hain Celestial Group Inc. (U.S.) and Turtle Mountain LLC (U.S.) invest to develop new dairy alternative beverages. Leading companies also adopt the expansion strategy to improve their dairy alternative product line and enter new geographic markets. In 2013, Oatly AB (Sweden) invested to introduce unique oat milk that targets the Chinese market. In 2013, Blue Diamond Growers Inc. (U.S.) expanded their plant facility by opening the Almond Innovation Center in Sacramento, U.S..
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