India dairy alternative market stood at $ 20.9 million in 2018 and is projected to grow at a CAGR of 20.7% to reach $ 63.9 million by 2024, on account of increasing participation of the young population in sports and fitness activities and growing consumer inclination towards low fat milk beverages. Dairy alternatives are beverages primarily available as an option for lactose intolerance and milk allergy. However, they are now being used for everyday drink. Different sales channels and rising importance of internet retailing is adding impetus to India dairy alternative market.

In terms of type, India dairy alternative market has been categorized into soymilk, almond milk, coconut milk and others. The soymilk segment dominated the market in 2018 and is expected to maintain its dominance in the coming years as well, on account of high awareness and easy availability of soymilk due to a large number of players in this segment when compared to other segments.

Among regions, North India accounted for the largest share of around 40% in India dairy alternative market in 2018, owing to rising awareness towards health-consciousness and need for physical fitness in the region. Moreover, with changing lifestyle, consumers in north India are comparatively less price conscious. Additionally, easy availability of various beverage option is further boosting the region’s dairy alternative market.

Some of the leading players in India dairy alternatives market are Hershey India Private Limited, Life Health Foods (India) Private Limited, Rakyan Beverages Private Limited, Dabur India Ltd, Tilda Hain Celestial, etc.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

• To analyze and forecast India dairy alternative market size.
• To classify and forecast India dairy alternative market based on type, formulation type, distribution channel and regional distribution.
• To identify drivers and challenges for India dairy alternative market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India dairy alternative market.
• To conduct pricing analysis for India dairy alternative market.
• To identify and analyze the profile of leading players operating in India dairy alternative market.

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Some of the leading players in India dairy alternative market are Hershey India Private Limited, Life Health Foods (India) Private Limited, Rakyan Beverages Private Limited, Dabur India Ltd, Tilda Hain Celestial, etc.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.

TechSci Research calculated India dairy alternatives market size using a bottom-up approach, where data for various application across various end-user segments was recorded and forecast for the future years was made. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Dairy alternative manufacturers, suppliers, distributors and other stakeholders
• Dairy alternative suppliers
• Potential investors
• Organizations, forums and alliances related to dairy alternative market
• Research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, in India dairy alternative market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, by Type:
• Soy
• Almond
• Coconut
• Others
• Market, by Sweetened Vs. Unsweetened:
•  Market, by Distribution Channel:
• Supermarket/Hypermarket
• Grocery/ Convenience Store
• Online Sales Channel
• Others
• Market, by Region:
• North
• South
• East
• West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India dairy alternative market.

Available Customizations

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

• Profit margin analysis in case of direct and indirect sales channel.