Dairy-Free Products: Market Outlook
The popularity of veganism is increasing across the globe. Being vegan is the popular trend among the consumers. The consumers are shifting their diet trend for diary-free products as the vegan population is increasing rapidly across the globe. The lactose intolerant population is also increasing and hence the demand for dairy-free product is increasing globally. The millennial population of the world is opting for the dairy free products due ethical issues with the animal cruelty and allergies due to dairy products and lactose intolerance. The global population is opting for the dairy-free products due to changing life styles of the consumers and increasing health issues related with the dairy products.
Dairy products are enriched with the all necessary nutrients which are required for the human body such as proteins and fibers. The dairy-free products are nothing but the replacement of diary product with the calcium fortified plant-based alternative products such as soy milk, almond milk and coconut milk etc. The increasing demand for alternative to the dairy products and increasing vegan population across the globe is expected drive the market growth for the dairy-free products over the forecasted period.
Increasing Popularity of Veganism is Driving the Market Growth for the Dairy-Free Market
The popularity of veganism is increasing over the past few years and the is expected to increase over the forecasted period. This will lead to the increasing demand for the dairy-free products across the globe. The established market such as U.S., Canada, and Europe are the leading consumers of the dairy-free products as the trend of being vegan is increasing rapidly than other regions. The increasing health related issues with the dairy products and the animal cruelty is the ethical issue which lead to the increasing demand for the dairy-free products across the globe. The growing lactose intolerant population, changing lifestyles of the consumers and increasing per capita disposable income are some of the drivers due to which the demand for dairy-free product is expected rise across the globe over the forecasted period.
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The social media is the key medium through which the awareness among the consumers about the veganism is spreading rapidly across the globe. internet and social awareness is playing crucial role in increasing awareness among the consumers about the veganism and thus increasing the demand for the dairy-free products across the globe. owing to these factors, the consumers are shifting their diet to the dairy-free products and this is expected drive the market for the dairy-free products.
Global Dairy-Free Products Market: Market Segmentation
On the basis of Nature, global dairy-free products market has been segmented as,
On the basis of Product Type, global dairy-free products market has been segmented as,
- Bakery Products
- Cheese & Butter Spread
On the basis of End Use, global dairy-free market has been segmented as,
- Institutional Sale
On the basis of Distribution Channel, global dairy-free market has been segmented as,
- Business to Business
- Business to Consumer
- Specialty Stores
- Online Retail
Global Dairy-Free Products Market: Market Participants
Market Participants in the global dairy-free market indentifed across the value chain includes The Hein Celestial Group, Good Karma Foods, Groupe Danone, The Whitewave Foods Company, Blue Diamond Growers Inc., GraceKennedy Group, Vitasoy International Holdings Limited, SunOpta, Inc., Good Karma Foods, and Oatly A.B. among the other dairy-free product manufacturers.
Opportunities for Market Participants in Dairy-Free Products Market
The consumers are focusing on the vegan diet and vegan products as the increasing trend of veganism and vegan lifestyle. The environmental protection is the major concern for the people and unethical ways of producing animal-based products are expected to boost the market demand for the dairy-free products. The consumers from Established Market like North America and Europe are preferring the organic dairy-free products regardless of its high pricings.
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The U.S. and European markets are expected to acquire higher market volume of dairy-free products, as these regions are witnessing the higher consumption of dairy-free products owing to the increasing vegan population in these regions. The Asia-Pacific region is also expected to show the higher growth for the dairy-free products as the increasing awareness among the consumers about the benefits of dairy-free products coupled with large consumer base.
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