Market Overview:
The global milk substitutes market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The market growth is attributed to the increasing demand for plant-based milk products, owing to the health benefits associated with them. In addition, the growing awareness about lactose intolerance and veganism are also propelling the demand for milk substitutes globally. Based on type, coffee creamers accounted for the largest share of the global milk substitutes market in 2017. This can be attributed to their easy availability and convenience of use in beverages such as coffee and tea. Coconut milk is projected to be the fastest-growing type segment during the forecast period, due its high nutritional value and rising popularity among consumers as a dairy alternative. Based on application, drinks accounted for majority ofthe global milk substitutes market in 2017. This can be attributedto th e growing trendof healthy eating habitsandthe increasing demandfor dairyalternativesin various beverageformats suchas smoothies, juicesandteas .
Product Definition:
Milk substitutes are products that are used as a replacement for cow's milk. They can come in the form of soy milk, almond milk, rice milk, and other types of plant-based milks. Milk substitutes are important for people who cannot or choose not to drink cow's milk. They provide many of the same nutrients as cow's milk and can be used in many of the same ways.
Coffee Creamers:
Coffee creamers, also known as cold brew coffee creamer or cold-brew concentrate, are concentrated coffee extracts that have been iced down and stored. The product is usually made with the aim of providing a caffeine-free alternative to normal brewed coffee. It has become increasingly popular among people who cannot drink caffeinated beverages due to health reasons such as diabetes or high blood pressure.
The global market for cold brew concentrates was valued at USD 3 million in 2015.
Coconut Milk:
Coconut milk is a dairy alternative made from the meat of mature coconuts. It has a creamy texture and sweet taste, making it an ideal substitute for regular milk. The main ingredients in coconut milk are lactic acid bacteria, water, potassium chloride, and sugar.
Application Insights:
The drinks application segment led the global milk substitutes market in 2017. The segment is projected to expand at a CAGR of XX% over the forecast period owing to rising consumer preference for flavored milk beverages and coffee creamer products, such as caramel, vanilla, chocolate and hazelnut varieties.
Food applications accounted for a share of 33.1% in terms of revenue in 2017 on account of coconut milk being an excellent source of medium-chain triglycerides (MCTs). These are considered as an efficient alternative to long-chain fatty acids (LCTs) found naturally in dairy products like butter and cheese due to their health benefits including improved metabolism and cardiovascular system efficiency along with weight loss benefits without causing any negative effects on cholesterol levels or blood pressure levels.
Regional Analysis:
Asia Pacific dominated the global milk substitutes market in 2017. The region is expected to maintain its position over the forecast period as well. This can be attributed to increasing awareness regarding a healthy lifestyle, growing population, and rising disposable income of consumers in developing countries such as China and India. Moreover, changing consumer preferences towards dairy products due to high lactose intolerance rates coupled with rising health consciousness will drive demand for milk substitutes in this region.
Europe is anticipated to witness significant growth over the next eight years owing to increasing consumption of dairy alternatives across countries such as Germany, France, Italy among others are anticipated boost industry growth positively influencing overall industry development trends at a macro level globally impacting all major sectors including food & beverage sector which has led Europe being one of largest markets for non-dairy creamsers used across various applications including coffee creamers.
Growth Factors:
- Increasing health concerns among people about the high calorie and unhealthy content of dairy milk, is driving the demand for milk substitutes.
- The lactose-free feature of most milk substitutes is also attracting consumers who are intolerant to lactose present in dairy milk.
- Rising awareness about the benefits of plant-based diets is prompting people to shift towards plant-based milks as a healthier option than dairy milk.
- Growing popularity of veganism and vegetarianism is also propelling the demand for plant-based milks as an alternative to dairy milk products .
Scope Of The Report
Report Attributes
Report Details
Report Title
Milk Substitutes Market Research Report
By Type
Coffee Creamers, Coconut Milk, Other
By Application
Drinks, Food, Other
By Companies
FrieslandCampina, DEK(Grandos), DMK(TURM-Sahne GmbH), Cocomi, Caribbean, Maggi, Fiesta, Renuka, Cocos, Qbb, FrieslandCampina, Ayam, Caprimo, Super Group, Yearrakarn, Custom Food Group, PT. Santos Premium Krimer, PT Aloe Vera, Suzhou Jiahe Foods Industry, Wenhui Food, Bigtree Group, Zhucheng Dongxiao Biotechnology, Jiangxi Weirbao Food Biotechnology, Hubei Hong Yuan Food, Fujian Jumbo Grand Food, Shandong Tianmei Bio, Amrut International
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
198
Number of Tables & Figures
139
Customization Available
Yes, the report can be customized as per your need.
Global Milk Substitutes Market Report Segments:
The global Milk Substitutes market is segmented on the basis of:
Types
Coffee Creamers, Coconut Milk, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Drinks, Food, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- FrieslandCampina
- DEK(Grandos)
- DMK(TURM-Sahne GmbH)
- Cocomi
- Caribbean
- Maggi
- Fiesta
- Renuka
- Cocos
- Qbb
- FrieslandCampina
- Ayam
- Caprimo
- Super Group
- Yearrakarn
- Custom Food Group
- PT. Santos Premium Krimer
- PT Aloe Vera
- Suzhou Jiahe Foods Industry
- Wenhui Food
- Bigtree Group
- Zhucheng Dongxiao Biotechnology
- Jiangxi Weirbao Food Biotechnology
- Hubei Hong Yuan Food
- Fujian Jumbo Grand Food
- Shandong Tianmei Bio
- Amrut International
Highlights of The Milk Substitutes Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Coffee Creamers
- Coconut Milk
- Other
- By Application:
- Drinks
- Food
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Milk Substitutes Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Milk substitutes are products that can be used in place of milk. They can be made from plant-based or animal-based sources, and they come in a variety of flavors and textures. Some common milk substitutes include soy milk, almond milk, rice milk, oatmilk, hempseedmilk, and coconutmilk.
Some of the major companies in the milk substitutes market are FrieslandCampina, DEK(Grandos), DMK(TURM-Sahne GmbH), Cocomi, Caribbean, Maggi, Fiesta, Renuka, Cocos, Qbb, FrieslandCampina, Ayam, Caprimo, Super Group, Yearrakarn, Custom Food Group, PT. Santos Premium Krimer, PT Aloe Vera, Suzhou Jiahe Foods Industry, Wenhui Food, Bigtree Group, Zhucheng Dongxiao Biotechnology, Jiangxi Weirbao Food Biotechnology, Hubei Hong Yuan Food, Fujian Jumbo Grand Food, Shandong Tianmei Bio, Amrut International.
The milk substitutes market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Milk Substitutes Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Milk Substitutes Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Milk Substitutes Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Milk Substitutes Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Milk Substitutes Market Size & Forecast, 2018-2028
4.5.1 Milk Substitutes Market Size and Y-o-Y Growth
4.5.2 Milk Substitutes Market Absolute $ Opportunity
Chapter 5 Global Milk Substitutes Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Milk Substitutes Market Size Forecast by Type
5.2.1 Coffee Creamers
5.2.2 Coconut Milk
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Milk Substitutes Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Milk Substitutes Market Size Forecast by Applications
6.2.1 Drinks
6.2.2 Food
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Milk Substitutes Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Milk Substitutes Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Milk Substitutes Analysis and Forecast
9.1 Introduction
9.2 North America Milk Substitutes Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Milk Substitutes Market Size Forecast by Type
9.6.1 Coffee Creamers
9.6.2 Coconut Milk
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Milk Substitutes Market Size Forecast by Applications
9.10.1 Drinks
9.10.2 Food
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Milk Substitutes Analysis and Forecast
10.1 Introduction
10.2 Europe Milk Substitutes Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Milk Substitutes Market Size Forecast by Type
10.6.1 Coffee Creamers
10.6.2 Coconut Milk
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Milk Substitutes Market Size Forecast by Applications
10.10.1 Drinks
10.10.2 Food
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Milk Substitutes Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Milk Substitutes Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Milk Substitutes Market Size Forecast by Type
11.6.1 Coffee Creamers
11.6.2 Coconut Milk
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Milk Substitutes Market Size Forecast by Applications
11.10.1 Drinks
11.10.2 Food
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Milk Substitutes Analysis and Forecast
12.1 Introduction
12.2 Latin America Milk Substitutes Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Milk Substitutes Market Size Forecast by Type
12.6.1 Coffee Creamers
12.6.2 Coconut Milk
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Milk Substitutes Market Size Forecast by Applications
12.10.1 Drinks
12.10.2 Food
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Milk Substitutes Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Milk Substitutes Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Milk Substitutes Market Size Forecast by Type
13.6.1 Coffee Creamers
13.6.2 Coconut Milk
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Milk Substitutes Market Size Forecast by Applications
13.10.1 Drinks
13.10.2 Food
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Milk Substitutes Market: Competitive Dashboard
14.2 Global Milk Substitutes Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 FrieslandCampina
14.3.2 DEK(Grandos)
14.3.3 DMK(TURM-Sahne GmbH)
14.3.4 Cocomi
14.3.5 Caribbean
14.3.6 Maggi
14.3.7 Fiesta
14.3.8 Renuka
14.3.9 Cocos
14.3.10 Qbb
14.3.11 FrieslandCampina
14.3.12 Ayam
14.3.13 Caprimo
14.3.14 Super Group
14.3.15 Yearrakarn
14.3.16 Custom Food Group
14.3.17 PT. Santos Premium Krimer
14.3.18 PT Aloe Vera
14.3.19 Suzhou Jiahe Foods Industry
14.3.20 Wenhui Food
14.3.21 Bigtree Group
14.3.22 Zhucheng Dongxiao Biotechnology
14.3.23 Jiangxi Weirbao Food Biotechnology
14.3.24 Hubei Hong Yuan Food
14.3.25 Fujian Jumbo Grand Food
14.3.26 Shandong Tianmei Bio
14.3.27 Amrut International
