Global Dairy Replacer Market – Market Outlook
Dairy replacer are the food ingredients which are used in food products in place of dairy products. Most of the dairy replacer are the plant-based ingredients which are produced from the plant source. The trend of veganism and health-related concerns such as lactose intolerance are the primary factor which has created the market for dairy replacer. The substitute for dairy products include-soy milk, almond milk, rice milk, cashew milk, corn milk, yeast and many more. Soy milk has been the most popular dairy replacer as its nutrition resemblance to cow’s milk. Calcium content in hemp milk is found more beneficial than dairy milk. Nutritional yeast is an alternative of cheese. Additionally, consumers have started the consumption of olive oil instead of dairy butter due to its high saturated fat content. Lots of dairy-free yogurts are made from soy milk or nuts milk. Due to the easy availability of substitutes of dairy products the global dairy replacer market growing.
Increasing Veganism is Stimulating the Growth of the Global Dairy Replacer Market
Due to the increasing vegan population around the world and growing consumer concern for lactose intolerance, dairy replacer market is growing. The most vital factor associated with the increased consumption of dairy replacer is veganism. Consumers' involvement for animal welfare is another factor which is increasing the sales of dairy replacers. Dairy-free products are more nutritious and less allergic compared to dairy products, thus dairy replacer products are attracting more customers. Moreover, ingredients such as hemp, pea, and soy are increasingly in demand due to health benefits.
Dairy replacer’s manufacturers are investing in manufacturing practices to increase the production of dairy replacer. Growing research and development, product line extension and marketing campaigns have also some of the strategies which company has applied to increase the sales of dairy replacers. However, high pricing and lack of awareness are some of the factors which are restraining the growth of dairy replacer market.
Global Dairy Replacer Market - Segmentation
On the basis of nature, the global dairy replacer market has been segmented as
On the basis of source, the global dairy replacer market has been segmented as
On the basis of form, the global dairy replacer market has been segmented as
On the basis of end-use, the global dairy replacer market has been segmented
On the basis of distribution channel, the global dairy replacer market has been segmented
On the basis of region, the global dairy replacer market has been segmented
Participants in the global Dairy replacer market – Key players
Some of the key players of the global dairy replacer market are Hain Celestial, Freedom Foods Group Limited, Lion, Bonsoy Beverage Co, The Bridge S.R.L, Alpro, Pacific Foods of Oregon, Llc. American Soy Products. The manufacturers are gaining higher returns in dairy-free products, which attracts new participants to invest in the dairy replacer market.
Opportunities for new participants in the global dairy replacer market
The surge in the global dairy replacer market is expected to continue across all geographies. The rapidly increasing population of lactose intolerant and vegans has increased the consumption of dairy-free products. This is an opportunity for the new participants to offer the consumer new alternatives for regular dairy products. The dairy replacer market offer potentially higher returns than regular dairy products. The manufacturers can offer a variety of products with soy, almond, hemp, and coconut milk.
Europe is among the largest consumers of hemp milk. Manufacturers attract consumers by offering products in different flavors. Bakery and confectioners have wide range of products for vegans and lactose intolerant customers with increasing dairy replacer market. Supermarkets are significantly increasing the shelf space for dairy-free products. A wide variety of ingredients allows the consumer more choices and more exciting flavors, as well as ensuring their dietary requirements are met.
COVID 19 Impact on Global Dairy Replacer Market
The immediate effect of COVID-19 disease has also hamper the growth of food and beverage industry across the world. The plant-based food consumption has also been affected as the producer of plant based food are facing difficulties to supply the food. Since the dairy replacer products needs the higher processing activities, production is highly affected due to closing of manufacturing sector. Additionally, the pandemic has also affected the agricultural production of crops such as soy, pea, and almond which are major source of dairy replacer. Hence, dairy replacer market is expected to face the moderate to high impact due to COVID-19 disease.