Latin America, Middle East & Africa (LAMEA) Dairy Alternatives Market By Source (Soy Milk, Almond Milk, Rice Milk), Application (Food, Beverages), Type (Spread, Creamer, Yogurt, Tofu), Distribution Channel (Large Retail, Small Retail, Specialty store, Online)
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Market Report Description
Dairy Alternatives are one of the important parts of food & beverages industry. Dairy Alternative products are made from milk based on almonds, SOY, coconut, and rice among others. These products are mostly preferred by the population who are lactose-intolerant, or one who have allergy from milk, or people prefer it as vegan diet as well. Many health institutions suggest that consumption of plant-based products should be increased instead of animal based products. According to American Heart Association, People who ate the most pro-vegetarian style diets (70 percent of food coming from plant sources) had a 20 percent lower risk of dying from cardiovascular disease, compared to those who were the least pro-vegetarian (<45 percent). Additionally, Companies dealing in plant based product have also seen increased sales in the recent years.
According to the reports, The popularity of silk, coconut, cashew, and almond milks helped White Wave increase sales 19 per cent over the past four years. Consumption of Milk alternative like soya and almond milks has increased in almost every developing country. Hence, the products increasing demand could be beneficial for the growth of dairy alternative products. The market has been segmented on the basis of distribution channel, application, and Country. Based on distribution channel, the market is segmented into Small retail, Specialty store, large retail, and others. Based on Application, the dairy alternative market has been segmented into Food & Beverages. Food is further segmented into Spread, Tofu, Creamer, Yogurt, and Others.
Based on Country, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, Rest of Latin America, Middle East and Africa. The key players operating dairy alternate market are as follows: WhiteWave Foods Company, SunOpta Inc., Blue Diamond Growers, Hain Celestial Group, Inc., Earths Own Food Inc., Organic Valley, Panos Brands LLC, and Elden Foods Inc.