Press release
Demand of Dairy Alternatives Market 2023-2032: The Hain Celestial Group, Blue Diamond Growers, SunOpta, Sanitarium
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Dairy alternatives are used in food & beverages that are dairy-free or do not contain lactose. These food products are especially suitable for lactose-intolerant consumers. Globally, the health benefits of dairy alternatives have led to their large-scale adoption in numerous applications. Changing lifestyles, growing health awareness, increasing instances of lactose allergies, and growing application sectors are some factors driving the growth of the market.
Dairy Alternatives Market Growth Dynamics
How growth of dairy alternatives closely related to nutritional benefits offered by plant-based dairy alternatives?
The nutritional benefits such as reduced cholesterol levels, improved cardiovascular health, and diabetes control of plant-based dairy alternatives have led to an increase in their consumption. Soy milk is widely consumed as a rich source of omega-3 fatty acids, protein, and fiber. It contains isoflavones that have anti-estrogenic and anticancer properties. Dairy-alternative milks tend to have fewer calories, less fat (except for coconut-based milk), more water content (for better hydration), and some products are fortified with other vitamins and nutrients.
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Why is allergy concerns among consumers of soy products a critical restraining factor that is holding back growth of market of dairy alternatives?
Incidences of food allergies and intolerances have been witnessed for centuries. However, in recent years, the prevalence of food allergies has increased and has become a great concern for consumers and food manufacturers. According to the Food Allergy Research & Education Organization (US), soy is among the top eight major food allergens responsible for most of the serious food allergy reactions in the US.
What opportunities does changes in lifestyles of consumers open up for companies?
The global population is growing, putting more pressure on scarce resources. High energy prices and rising raw material costs impact food prices, thus affecting low-income consumers. The pressure on the food supply is being exacerbated by a water shortage, particularly across Africa and Northern Asia. Asia Pacific also provides a cost advantage in terms of production and processing. High demand, coupled with the low cost of production, is a key feature that will aid dairy alternatives suppliers and manufacturers target this market.
How is low awareness among consumers impacting growth of the market?
There is limited awareness about the nutritional benefits of dairy substitutes, which poses a challenge to the growth of the dairy alternatives market. Some dairy consumers feel that the nutritional content in dairy alternatives is lower than cow's milk and contains lower content of essential nutrients.
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Key Market Players:
Key players in dairy alternatives market include Danone North America Public Benefit Corporation (US), The Hain Celestial Group, Inc. (US), Blue Diamond Growers (US), SunOpta (Canada), Sanitarium (New Zealand), Freedom Foods Group Limited (Australia), Eden Foods, Inc. (US), Nutriops, S.L. (Spain), Earth's Own Food Company Inc. (Canada), Triballat Noyal (France), Valsoia S.p.A (Italy), Panos Brands (US), Green Spot Co., Ltd. (Thailand), and Hiland Dairy (US).
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