Dairy-free Creams Market Exhibits Higher Growth Prospects during 2019 2029
The growth of dairy-free creams market in this region is distinctively possible to be steady over the upcoming period.
[USPRwire, Tue Oct 01 2019] The dairy-free creams market has shown colossal surge in recent years pertaining to the growth of awareness regarding milk-protein allergies and lactose intolerance. Health benefits of dairy-free creams are also a significant factor in the proliferation of the market. Consumers have shown a preference for vegan diet with rising concerns over animal rights and environmental protection. These factors are expected to drive the growth of the industry in the upcoming decade. The global dairy alternative market has billowed tremendous growth in dairy free creams derivatives like ice creams and cream cheese with North America leading the charge in the past while Asia is showing a lofty promise in the recent period.
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Market Dynamics: Lactose Intolerance and Milk Protein Allergies Shaping the Future of the Market
Around 80% of people around the world are allergic to milk or some variety of milk protein. This along with rising trends in dietary restrictions like vegan diets or non-dairy diets and raising concerns over potential health risks due to adulteration of milk is trending the market to choose dairy-free creams instead of regular milk creams. Also, with a rise in people's choice to consume desserts, usage of Dairy-free Creams Market is on the rise. This is due to the extended storage capability of dairy-free creams over regular dairy cream, thus giving the product a substantial shelf life.
The consumption of dairy-free ice-cream is on the rise in recent years, which gives a massive boost to the market for dairy-free creams being a principal ingredient.
Currently, the North American region is the leader in the consumption of dairy-free creams as a report shows that almost 8 out of 10 Native Americans are lactose intolerant. Also, the knowledge about the effects of milk allergies and lactose intolerance is widespread in American countries. Along with that, high per capita income runs the dairy-free creams market in the American region. The growth of dairy-free creams market in this region is distinctively possible to be steady over the upcoming period. Currently, Asia is showing maximum increase in the dairy-free creams market primarily due to the high population and spread of knowledge regarding advantages of dairy-free creams. Europe tends to have a stagnant market for dairy-free creams as people of European origin are more lactose tolerant than other ethnic groups as reported in the study conducted by researchers at MIT, Cambridge. Though erudition about the benefits of dairy-free creams is on the rise in the European market, the growth is prospective to be sluggish.
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Dairy-Free Creams Market Segmentation
Dairy-free creams are segmented by application, source material, claims, grade (fat content), end-use industries, and sales channels. Dairy-free creams are often used in the production of sour cream, cream cheese, ice cream, butter, whipping cream, and also in cosmetic creams and shaving creams. Dairy-free creams' sources are segmented into almonds, cashews, coconut, hemp seeds, macadamia nut, oats, peanuts, quinoa, rice, soya, avocado, and vegetable oils. Out of these sources, consumption of dairy-free creams produced from coconut is more than any other source. Other sources, like various nuts and Hemp, are growing in popularity due to their characteristic taste. Cream made from vegetable oil is considered to be lower grade and is often utilized in the cosmetics industry. Dairy-free creams are also segmented according to the claims made by the company as non-GMO, organic, and vegan.
Dairy-free creams are segmented into grades according to their fat content, and follows ascending order; half and half cream, light cream, whipping cream, heavy cream, and manufacturing cream. The end-user industries of dairy-free creams are classified into HoReCa, food processing, bakery, coffee beverages, cosmetics, and ice-cream. Dairy-free creams' sales channels are direct, indirect, online retail, convenience stores, small groceries, and modern trade channels. The global market of dairy-free creams can be segmented into seven regions: North America, Latin America, Europe, Asia, Oceania, and Middle East and Africa.
Major Players in the Market:
The niche dairy-free creams market right now is full of small players manufacturing dairy-free creams from various sources. Some major parties include Otsuka Japan, Nestle, Rich, Danone, Dean Foods, Jumbogrand Bangkok, Hanan Products, Kerry Ingredients, Davars, DuPont, and others.
The research report presents a comprehensive assessment of the dairy free creams market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to the segments in the dairy-free creams market, such as geography, type, source, manufacturers, and sales channel.
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