Europe Dairy Alternative Market - Growth, Trends, and Forecast (2018 - 2023)
Consumers allergic to dairy products are keenly looking for dairy alternatives with huge amount of nutrients, vitamins, and calcium. Owning to this need, Europe dairy alternative market is anticipated to register a CAGR of 14.5%, during the forecast period, 2018-2023.
The German non-dairy drinks market has overtaken the British market to become the largest in Europe. High growth is observed in the German market because of stores launching non-dairy drinks under their own private labels. A number of new entrants have entered into the German market since 2001, causing a large rise in domestic production. The largest market for chilled soya milk, a variant of dairy alternative is the UK.
Dairy alternative has become a growing need for consumers who are allergic to conventional milk and milk products. The European dairy alternative market is driven by the change in lifestyles and eating patterns of the consumers in Europe. In the recent times, UK, Spain, Italy, and Germany are observing high demand for dairy alternatives, majorly due to increasing disposable incomes, environmental concerns, and rising number of people with dairy allergies.
However, the cost related to the dairy alternative products hinders the growth of the market in the European region. Moreover, lack of protein and cross contamination of raw materials in dairy alternative products further pose a threat to European dairy alternative market.
The demand for dairy alternative beverages in Europe has widened in recent years. The manufacturers in Europe focus on new product developments with new launches that include fresh soy drinks and hemp drinks etc. The mainstream retailers have recorded the maximum sale of dairy alternative beverages. European sales of soya milk and non-dairy drinks are expanding by over 20% per year. High market growth rates can be achieved by product innovations and substantial consumer demand for healthy beverages.
Europe dairy alternative market is segmented on the basis of type, application, distribution channel and geography. Soy milk is one of the trending products in dairy alternative now-a-days as it comes in a variety of flavors, such as chocolate, vanilla, and others. Further, Almond milk is projected to showcase high growth rate during the forecast period.
The European dairy alternatives market is dominated by UK, with the overall market share of over 36% followed by France and Spain.
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