How Vegan diets are Boosting Growth of Global Non-dairy Milk Market?
Arizton’s recent market research report on the global non-dairy milk market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the global non-dairy milk market by source type (soy milk, almond milk, coconut milk, rice milk, and others), by end-products (milk, yogurt, ice cream, cheese, creamer, and others), by distribution channel (supermarkets & hypermarkets, convenience stores, specialty stores, online retail stores, and others), and geography (North America, APAC, Europe, Latin America, and MEA).
The global non-dairy milk market is expected to reach revenues of more than $38 billion by 2024, growing at CAGR of over 14% during 2019-2024.
Non-dairy milk is produced by grinding seeds, nuts, legumes, and other parts of the plant and then adding water to the ground mixture. It is also fortified with minerals, vitamins, and other nutrients to enhance the nutritional property of the non-dairy milk. With the increasing awareness of the health properties associated with plant-based products, the demand for dairy alternatives is rapidly increasing in recent years.
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The top three drivers and trends propelling the global non-dairy milk market are discussed below:
Consumers increasing inclination towards vegan diets
The rising preference among consumers for vegan diets mainly due to the rising concerns regarding animal and environmental protection is expected to drive the market for the global non-dairy milk market. In the US and UK, the vegan population was approximately 7% and 6% of the population respectively. The demand for plant-based meat, meat-free food, and non-dairy milk has been tremendously increased due to the rising vegan population. The major reasons for the adoption of vegan diets include weight management, animal welfare, and environmental protection.
Australia accounts for the highest interest for vegan diets, followed by New Zealand and the UK.
The US non-dairy milk market, which includes cheese, creamers, butter, yogurt, and ice cream, witnessed significant growth in 2018, and currently represents 15% of the overall dairy market.
Read: Goat Milk Cosmetics Market - Global Outlook and Forecast 2020-2025
Rising lactose intolerance among people
Lactose intolerance is a condition where the body is unable to digest lactose, a type of sugar that is found in dairy products. The high prevalence of lactose intolerance among the population is also driving the adoption of lactose-free milk or plant-based dairy alternatives.
The highest rate of lactose intolerance is prevalent among the East Asian population, where 9 out of 10 descents are diagnosed as lactose intolerant.
Therefore the demand for lactose-free milk or non-dairy milk is becoming popular among the consumers of East Asia and other regions globally. With the introduction of different varieties of non-dairy milk in the market such as soy, almond, rice, oats, coconuts, flax, hemp, cashew, and others, consumers suffering from dairy digestive issues and other dairy allergies are increasingly adopting these lactose-free milk products. All these products have a common advantage: they are lactose-free, vegan, and contain calcium and vitamin D. Plant-based milk products such as desserts, yogurt, cheese, and other products are also highly popular among consumers.
The growing number of health-conscious people
The modern generation is becoming more interested in pursuing a healthy lifestyle. There is a gradual shift among consumers towards healthier eating habits. Consumers are increasingly adopting natural products that fulfill the demands for taste, flavor, and nutritional content. Plant-based alternatives are generally healthier in comparison to animal-based products, which is the major factor that is accelerating the growth of the global non-dairy milk market. The nutritional content of non-dairy milk can greatly vary; it often contains lower nutrients than dairy milk. However, soy and rice milk may contain a high amount of protein as that of cow milk. The non-dairy milk generally contains a lower amount of fat, carbs, and calories, which is driving its demand among health-conscious consumers towards lactose-free milk. Consumers are increasingly interested in milk protein for its many health benefits — from muscle building and exercise recovery to weight loss, satiety, and healthy aging. The highest demand for non-dairy milk products is expected to be generated from the developing countries.
The White Wave Food Company, The Hain Celestial Group, Blue DiamondGrowers, SunOpta Inc., and Sanitarium Health and Wellbeing Company are the prominent vendors in the global non-dairy milk market.
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The complete overview of the latest market research report on the global non-dairy milk market by Arizton is now available.
The report offers a detailed study of major trends, drivers, and challenges and provides market sizing and forecast for major geographical regions.
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