Europe Dairy Alternatives Market

Description

Europe is the third largest consumer of Dairy Alternatives and has over 20% of the global Dairy Alternatives Market share. Growing number of dairy allergies and Lactose intolerance cases have made plant-based alternatives, like Soy milk, Almond milk and Coconut milk popular. Soybeans and soy milk are a good source of protein, calcium (when fortified), and potassium. They are considered to bea healthier alternative for milk. The European Dairy Alternatives Market is accounted for US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. The Obesity pandemic and increased numbers of patients suffering from cardiovascular ailments have provided a tremendous opportunity for the growth of the market. There is also a growing trend of developing Soymilk- based desserts in Europe, which are also exported throughout the world.

Market Dynamics:

In recent years, the increase in demand for plant-based products has helped the market to expand in the region. European manufacturers are now focusing on new product developments with new launches like fresh soy drinks and hemp drinks etc. A well-established network of mainstream retailers has helped the market to have a better reach. Even today, these retailers lead the market, in terms of sales. European sales of Soy milk and non-dairy drinks are expanding by over 20% per year. Product innovations and substantial consumer demand for healthy beverages are the two factors for the anticipated growth.

Market Segmentation:

On the basis of type, the market has been categorized into soy milk, almond milk, hazelnut milk, cashew milk, oats milk, rice milk, and coconut milk, among others. Soy milk has always been the most prominent segment. On the basis of distribution channels, it is divided into supermarkets, health centers, convenience stores and department stores- where convenience stores have accounted for the largest amount of sales. Customization of the milk-alternatives and imitation of milk products have played a key role in the expansion of the market.

Geographical Analysis:

Germany has recently replaced Britain to become the largest market for Dairy Alternatives in Europe. One of the key factors for the high growth in the German market is launching of non-dairy drinks discount stores under their own private labels. Many new manufacturers have emerged in the German market since 2001, causing a boom in domestic production. U.K. leads in the consumption of chilled soya milk. The British market has doubled every two years due to the popularity of chilled soya milk as a fresh alternative to dairy milk. However, the market of non-dairy drinks is expected to grow fastest in Spain. High growth rates have attracted giant food companies to come into the Spanish market and launch their products.

Some of the key players in the industry include Danone SA (French), AlpinaProductosAlimenticios SA (Columbian), Nestle (Swiss) and Le GroupeLactalis (French).