Grand View Research, Inc: Dairy Alternatives Market, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2015 To 2022
Stringent food regulations by REACH and FDA coupled with rising dairy products demand is expected to augment the global dairy alternatives market over the forecast period. Alternative beverages include plant based milk which is processed from nuts. Other alternatives are plant based milk from seeds and cereals which includes rice milk, almond milk and soy milk. People who are lactose intolerance, vegans and milk allergic are expected to emerge as major consumers across the globe. More health related benefits including high energy levels as compared to normal dairy products are expected to be key factor owing to which people are shifting from regular products or beverages to its alternatives. Varieties in product choices, increasing vegan population, improved health benefits and government & associations supports are expected to further enhance global market demand over the forecast period. Higher costs as compared to normal dairy beverages are expected to hinder global market growth over the forecast period.