A recent report by Transparency Market Research states that the global dairy alternatives market shall witness a massive 8% CAGR in the tenure of 2019 to 2029. With this rate the experts at Transparency market predicts that the global dairy alternatives market shall reach to the value of 34.6 bn by the end of 2029. This growth of the market is attributed to the growing health concerns and rising awareness of people for fitness. To get into better shape, people are restricting themselves from consuming traditional dairy products, this is also a major factor that is boosting the growth of global dairy alternatives market from 2019 to 2029.
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Hectic Life Schedule of People to Drive the Growth
Today majority of the people are busy running to meet the daily bread. They are so much engulfed in so called rat-race that they oversee the effects of health eating. This as a result is impacting their health in an adverse manner. To avoid missing nutrition and have proper diet, people are inclining toward non-modified convenient food products. This inclination is stimulating the businesses to develop healthy, long lasting and tasty non-dairy products that can help the consumers meet their daily dose of nutrition and keep them healthy. This growth is one of the major factor that is boosting the growth of global dairy alternatives market from 2019 to 2029.
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Probiotics’ Benefits Further Accelerates the Market Growth
As mentioned, busy life schedule and distressed eating habits, people are facing major functional disorders. Majority of them are affected by stomach oriented disorders that are caused by biologic substances. To prevent this, people are consuming huge amount of probiotic drinks. These drinks allow the players to restore the metabolism and improves the immunity of the consumer. This as a result is influencing the growth of global dairy alternatives market from 2019 to 2029.
Food-Borne Allergies Risk Also Plays an Important Role
Consumers are now highly choosy when it comes to eating. They check entire ingredient of the food product and ensure it lacks the component to which they are allergic to. To minimize the risk of food-borne allergies, the people are actively adopting dairy alternative products. This also serves as a major factor that boosts the growth of global dairy alternatives market from 2019 to 2029.
Asia Pacific Emerges as the Most Lucrative Region
Dairy industry is highly prominent in Asia Pacific. People consume dairy products on a regular basis as part of their daily meal. However, with growing concerns health and negative impact a dairy product can cause to the health of the consumers, several people of Asia Pacific region are now inclining toward dairy alternatives products. This makes Asia Pacific as one of the fastest growing region of global dairy alternatives market during the projected tenure.
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The global dairy alternatives market is segmented on the basis of:
- Sales Channel
- Direct (B2B)
- Indirect (B2C)
- Convenience Stores
- Mass Grocery Retailers
- Specialty Stores
- Online Retail
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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