The global non-dairy milk market is projected to reach more than $38 billion by 2024, growing at a CAGR of over 14% during 2018-2024. The rising number of people becoming more conscious about their health and are opting for healthier diets in their daily lives is fueling the growth of the global non-dairy milk market. The increasing number of the population unable to incorporate milk and other dairy products due to many reasons including personal preferences, dietary restrictions, lactose intolerance, allergies, and others are fueling the demand for dairy-free products in the global market. The high prevalence of diseases such as heart diseases, obesity, diabetes, and stroke encourages consumers to shift to healthier dietary foods in the worldwide market. Dairy-free milk is produced by grinding seeds, nuts, legumes, and other parts of the plant and then adding water to the ground mixture. These products are fortified with minerals, vitamins, and other nutrients to enhance the nutritional property of the non-dairy milk. They are also available in different flavors and varieties in the market. The leading companies are using this milk to offer products such as yogurt, cheese, butter, ice cream, creamer, sour cream, whipping cream, and others to meet the customer requirements in the market. Plant-based milk was primarily introduced for consumers as a part of special dietary needs; however, the demand for these products has increased rapidly in the global non-dairy milk market. The nutritional content, different flavors, textures, and forms of these lactose-free milk will boost the adoption of these products in the worldwide market. Some of the milk substitutes available in the market include soy milk, almond milk, coconut milk, and rice milk. Several consumers worldwide are increasingly shifting towards the consumption of vegan diets to protect animal rights and the environment in the market. According to the Vegan Society, the number of vegan consumers has increased by over 360% over the last ten years globally. The rising adoption of vegetarian diets and veganism in countries such as India and China will contribute to the growing revenues in the global non-dairy milk market.
The rising working middle-class population, rising income, changing lifestyle, and other socio-economic factors are propelling the growth of the global market. Urbanization and the rise of modern trade benefit the availability of dairy and dairy alternative products due to the reliance on chillers and cold chain logistics for categories like yogurt, and fresh milk will boost the adoption of these products in the market.
NON-DAIRY MILK MARKET TRENDS AND DRIVERS
The growing demand for non-GMO food products and the rising interest in natural and organic products is fueling the growth of the global non-dairy milk market. The interest in food quality and safety, while a desire for GM-free ingredients, has also emerged as a key concern for some consumers in the global market. The EU regulations state that genetically modified foods must not be sold in the market unless approved by the EU. Food containing GM ingredients must have a declaration on their labels. The negative impact of GMO food on human health is creating awareness and propelling the demand for vegan diets in the global non-dairy milk market. The increased consumption of GMO crops increases cancer, obesity, autism, and other diseases in the market. Top brands such as Hersey launched non-GMO chocolate syrup, Nestle brands, Dreyer’s, and Haagen Dazs also introduced non-GMO ice cream in the market. The prominent manufacturers in the US and Canada offer naturally sourced and organic dairy-free products to meet the growing demand in the market. The focus on product quality and organic food products will fuel the development of the global non-dairy milk market.
NON-DAIRY MILK MARKET – BY SOURCE TYPE
Protein, carbohydrate, minerals, and other essential nutrients in soy milk boost the demand in the global non-dairy milk market.
The global non-dairy milk market by source type is classified into soy milk, coconut milk, rice milk, etc. Soy milk dominated more than half of the total market share in 2018, growing at a CAGR of around 14% during the forecast period. Soy milk is the most consumed plant-based milk alternative in the world. Soy milk is plant-based milk produced by soaking and grinding the soybeans, boiling the ground beans, and finally filtering out the residual particles. This milk substitute contains an emulsion of protein, oil, and water and a higher amount of protein, carbohydrate, minerals, and other essential nutrients than cow and goat milk in the global market. The vendors offer soy milk in different flavors such as chocolate, vanilla, and others to attract the maximum number of consumers in the worldwide market. The increasing availability of different varieties such as unsweetened, sweetened, natural, or organic will fuel the adoption of these products in the market. Patients suffering from health issues such as diabetes, heart diseases, overweight, cholesterol prefer consumption of soy milk due to its lower sugar content, the presence of lesser calories, and unsaturated fats in the market. APAC dominates soy milk consumption in the global non-dairy milk market.
The rising number of lactose intolerant population, consumers suffering from lactose allergy, and other health issues are fueling the demand for almond milk in the global market. Rice milk is a beverage that is also used in ice cream, smoothies, yogurt, and cereals and contains approximately three times more carbohydrate than other dairy substitutes available in the market. Coconut milk contains a high amount of saturated fat and oil, which is beneficial for maintaining cholesterol levels, which boosts its adoption in the global non-dairy milk market.
NON-DAIRY MILK MARKET – BY END-PRODUCT
The launch of innovative flavors and varieties of dairy-free yogurt is gaining popularity in the global non-dairy milk market.
The end-product segment in the global non-dairy milk market is divided into milk, yogurt, ice cream, cheese, creamer, etc. Yogurt is the fastest-growing end-product segment globally, at a CAGR of approximately 16% during the forecast period. Some of the most common non-dairy yogurt bases include almond, soy, and coconut globally. The popularity of coconut milk-based yogurt increased significantly by 35% in 2016. The introduction of varieties of non-dairy yogurt, which include oats, flax, hemp, rice, cashews, peas, and others, will augment the growth of this segment in the global market. The major plant-based yogurt brands available in the market include Chobani, Danone, Ripple, Daiya, So Delicious, Califia Farms, Kite Hill, and others. The leading players are introducing innovative flavors and varieties, including passion fruit, blueberry, strawberry, coconut, mango, vanilla, pineapple, raspberry, and others to attract the maximum number of consumers the market. The changing consumption pattern, rising environmental awareness, the demand for organic, non-GMO, and allergen-free products are augmenting the growth of this segment in the global non-dairy milk market.
Vegan milk contains various plant-based protein, carbohydrates, vitamins, and other essential nutrients in the global market. The rising number of health-conscious population is driving the global market for vegan ice creams. The prominent plant-based cheese manufacturers are introducing innovative flavors and varieties of non-dairy cheeses, which contribute to the growth of the market. Non-dairy creamers are liquid or granular substances used as a substitute for milk or cream in beverages such as coffee, tea, hot chocolate, and others, thereby fueling the adoption rate in the global non-dairy milk market.
NON-DAIRY MILK MARKET – BY DISTRIBUTION CHANNEL
Hypermarkets and supermarkets are providing extra discounts and product-bundling offers in the global non-dairy milk market.
The global non-dairy milk market by distribution channel is segmented into supermarkets & hypermarkets, convenience stores, specialty stores, online retail stores, etc. The supermarkets and hypermarkets segment occupied the largest market share in 2018. The presence of all types of grocery products under one roof contributes to the increased retail sales through specialty stores in the global market. Hypermarkets and supermarkets are emerging as the one-stop destination for many other related foods and dairy goods for consumers in the worldwide market. Several supermarkets and hypermarkets provide consumers with extra discounts, and product-bundling offers a larger share in the global market. In North America, Walmart, Whole Foods Market, Costco, and Kroger are the major retailers of dairy-free milk products. Further, in Europe, retailers like Auchan, Tesco, Carrefour, and Argos are the major sellers of dairy-free milk products. The availability of various products in these stores is attributing to the revenues in the global non-dairy milk market.
Several countries are enhancing their digital economies by increasing the internet penetration and deploying LTE networks resulting in the exponential growth of online stores and e-commerce retailers in the market. Online stores offer information about the pros and cons of each type and the nutritional benefits to every kind of products that are available in the global non-dairy milk market.
NON-DAIRY MILK MARKET – BY GEOGRAPHY
Coconut milk is trendy across South East and South Asian countries in the global non-dairy milk market.
The geographical segment in the global non-dairy milk market is categorized into North America, APAC, Europe, Latin America, and MEA. APAC is the fastest-growing region in the worldwide market, growing at a CAGR of around 15% during the forecast period. The increasing focus on health concerns such as cholesterol, weight management, chronic heart diseases, and others fuels the adoption of dairy-free products in the APAC market. The rising adoption of vegetarian diets and veganism in countries such as India and China, coupled with the high prevalence of lactose intolerance in the APAC region, drives the growth of the global market. The rising working middle-class population, rising income, changing lifestyle, and other socio-economic factors are propelling demand for plant-based milk in the APAC market. The growing popularity of coconut milk across South East and South Asian countries contributes to the revenues in the global non-dairy milk market.
The increasing demand for healthier diets and natural and organic food is driving the need for dairy-free products in the North American market. The manufacturers are introducing innovative flavors and varieties such as organic and Non-GMO plant-based alternatives to meet the demand in Europe. Brazil, Mexico, Saudi Arabia, UAE, Argentina, and Africa are emerging as the most significant revenue contributors from the MEA region in the global non-dairy milk market.
KEY VENDOR ANALYSIS AND MARKET SHARE
The global non-dairy milk market is fragmented due to the presence of different kinds of vendors. The top players compete based on product quality, new products, and competitive pricing in the global market. The introduction of innovative and proprietary products that cater to customer demands will result in increased investments by key manufacturers in the global non-dairy milk market. The research and development team needs to analyze the market trends continuously and design, develop, and manufacture new product categories and new products with distinctive features, size, taste, and shelf life in the market. The vendors focus on technological advancements, packaging designs, and product innovations in the global non-dairy milk market.
The non-dairy milk market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- Soy Milk
- Almond Milk
- Coconut Milk
- Rice Milk
- Ice Cream
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail Stores
- North America
- Latin America
- Middle East & Africa