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Key Growth Strategies Adopted by Major Players in Dairy Alternatives Market

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Key Growth Strategies Adopted by Major Players in Dairy Alternatives Market

October 09
10:02 2019
Key Growth Strategies Adopted by Major Players in Dairy Alternatives Market

MarketsandMarkets
The dairy alternatives market 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.

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), Earth’s 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.

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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.

Rising deforestation in developing countries results in the scarcity of raw materials for dairy alternatives such as soy, almond, and rice. Further, extremely cold climatic conditions in countries such as the UK, France, and Spain hamper the production of agricultural produce. For instance, soy milk is produced from whole soybeans or full-fat soy flour; almond milk is made from ground almonds that are free from lactose and cholesterol; oat milk is lactose-free milk obtained naturally from oats, other grains, and beans. Unavailability of these agricultural raw materials restricts the production of alternative dairy beverages by European manufacturers.

The setting up of a large number of industries in developing countries such as China and Australia has diminished the availability of agricultural land. This creates a scarcity of raw material and prevents the production of dairy alternative products.

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