Known and Unknown Adjacencies Impacting the Dairy Alternatives Market
(I-BusinessNews.Com, May 21, 2020 ) The global dairy alternatives market size is projected to grow from USD 17.3 billion in 2018 to USD 29.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period. Increasing cases of lactose intolerance and milk allergies in several infants, as well as cases of milk allergies in adults, resulting in an adverse immune reaction after ingestion of animal milk have been driving the demand for various dairy alternatives such as rice milk, soy milk, and oat milk.
The major vendors for dairy alternatives include The Whitewaves Food Company (US), The Hain Celestial Group (US), Blue Diamond Growers (US), Sunopta (Canada), Sanitarium Health and Wellbeing Company (Australia), Freedom Foods Group (Australia), Eden Foods (US), Nutriops S.L. (Spain), Earths Own Food Company (Canada), Triballat Noyal (France), Valsoia S.P.A (Italy), Dohler GmBh (Germany),Organic Valley (US), and Panos Brands LLC (US). These players have adopted various growth strategies such as expansions and new product launches to expand their presence in the global dairy alternatives market further. New product launches have been the most dominating strategy adopted by major players. This strategy has helped them to increase their presence in different regions.
The WhiteWave Foods Company is a part of Danone, a global manufacturer, and marketer of fresh dairy products, baby nutrition, medical nutrition, and beverages. The Whitewave Foods Company is a leading manufacturer of premium dairy products, plant-based foods, organic products, and coffee creamers & beverages. The company operates in three segments-Americas foods & beverages, Americas fresh foods, and Europe foods & beverages. It offers dairy alternative products such as soymilk, almond milk, and coconut milk through its “Silk” and “So Delicious” brands; and soy-, almond-, coconut-, hazelnut-, rice-, and oat-based beverages under its “Alpro” brand, through its plant-based foods product portfolio. The company also offers dairy-free yogurts, beverages, and frozen desserts through its “So Delicious” brand, under its Americas plant-based foods & beverages product portfolio.
Furthermore, The WhiteWave Foods Company is focused on new product launches in other regions to tap new markets. For instance, in March 2017, So Delicious Dairy Free, a brand of The WhiteWave Foods Company, expanded its line of cashew-milk-based frozen desserts by launching frozen dessert bar products, which include Dipped Salted Caramel and Double Chocolate Delight.
The Hain Celestial (Hain Celestial) is involved in the manufacture, distribution, marketing, and sales of natural & organic food products and natural & organic personal care products under different brand names sold as “better-for-you” products. The company offers products in natural food categories, with well-known brands offering dairy-free alternatives, including WestSoy, Happy, Joya, Rice Dream, Soy Dream, Lima, and Natumi. Major product categories of the company are grocery, snacks, tea, personal care, and poultry. These product categories collectively provide products to meet the demands of multiple end users. It has a broad portfolio of dairy-free products that are offered through its line of grocery products.
Furthermore, The WhiteWave Foods Company is focused on joint ventures in other regions to tap new markets. For instance, in January 2017, Hain Tilda India Private Limited, a subsidiary of Hain Celestial, formed a joint venture with Future Consumer Limited (India). This joint venture would enhance the company’s product portfolio of plant-based beverages, toddler & kid food products, and snacks products to be offered under brands including Dream, Earths Best, Garden of Eatin, Sensible Portions, and Terra.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: