There is limited awareness about the nutritional benefits of dairy substitutes, which poses a challenge to the growth of the dairy alternative market. How is low awareness among consumers impacting growth of the market? Developing economies present significant opportunities for the dairy alternative market. Apart from these, the growing disposable incomes are also fueling the demand for convenience, healthy, and highly nutritious products in the Asia Pacific countries. Identifying naturally high nutritional value products could be a key opportunity for suppliers and manufacturers. Fast food is expected to increasingly become differentiated from junk food as consumers seek quick and easy healthy options. High demand, coupled with the low cost of production, is a key feature that will aid dairy alternatives suppliers and manufacturers target this market.ĭue to rapidly changing lifestyles, people have started shifting toward nutritious and healthier versions of food products. Asia Pacific also provides a cost advantage in terms of production and processing. The pressure on the food supply is being exacerbated by a water shortage, particularly across Africa and Northern Asia. High energy prices and rising raw material costs impact food prices, thus affecting low-income consumers. The global population is growing, putting more pressure on scarce resources. What opportunities does changes in lifestyles of consumers open up for companies? These factors are expected to restrain the dairy alternatives market during the forecast period, as soy protein is one of the major sources used to produce dairy alternatives. Other symptoms include gas, bloating, and low levels of irritation of the intestinal tissue. Soybeans are rich in nutrient content, such as vitamins, minerals, isoflavones, and proteins however, anti-nutritional components in soy could cause health issues, such as soy allergy (which could also lead to itching and hives in people). According to the Food Allergy Research & Education Organization (US), soy is among the top eight major food allergens responsible for most of the serious food allergy reactions in the US. However, in recent years, the prevalence of food allergies has increased and has become a great concern for consumers and food manufacturers. Incidences of food allergies and intolerances have been witnessed for centuries. Why is allergy concerns among consumers of soy products a critical restraining factor that is holding back growth of market of dairy alternatives? Such nutritional benefits contribute to the growth of the dairy alternatives market. The low carb and low-fat varieties of dairy alternatives help reduce fat. Dairy-alternative milks tend to have fewer calories, less fat (except for coconut-based milk), more water content (for better hydration), and some products are fortified with other vitamins and nutrients. It contains isoflavones that have anti-estrogenic and anticancer properties. Soy milk is widely consumed as a rich source of omega-3 fatty acids, protein, and fiber. The nutritional benefits such as reduced cholesterol levels, improved cardiovascular health, and diabetes control of plant-based dairy alternatives have led to an increase in their consumption. To know about the assumptions considered for the study, Request for Free Sample Report Market Dynamics How growth of dairy alternatives closely related to nutritional benefits offered by plant-based dairy alternatives? Changing lifestyles, growing health awareness, increasing instances of lactose allergies, and growing application sectors are some factors driving the growth of the market. Globally, the health benefits of dairy alternatives have led to their large-scale adoption in numerous applications. These food products are especially suitable for lactose-intolerant consumers. Dairy alternatives are used in food & beverages that are dairy-free or do not contain lactose. The global dairy alternatives market is estimated to be valued at USD 27.3 billion in 2022 and is projected to reach USD 44.8 billion by 2027, recording a CAGR of 10.4%, in terms of value.
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