PORTLAND, Ore., July 21, 2020
- Increase in plant-based product demand, expansion of retail sector, and surge in vegan population drive the growth of the global non-dairy creamer market
PORTLAND, Ore., July 21, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Non-Dairy Creamer Market by Origin (Almond, Coconut, Soy & Others), Form (Powdered & Liquid), Nature (Organic and Conventional), and Sales Channel (Supermarkets/Hypermarkets, Online Stores, Departmental Stores, Online Stores, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027." According to the report, the global non-dairy creamer industry generated $1.73 billion in 2019, and is expected to garner $2.38 billion by 2027, witnessing a CAGR of 7.3% from 2021 to 2027.
Drivers, restrains, and opportunities
Increase in plant-based product demand, expansion of retail sector, and surge in vegan population drive the growth of the global non-dairy creamer market. However, expensive nature and popularity of low-fat and low cholesterol conventional milk hinder the market growth. On the other hand, rise in consumers who are allergic to dairy products and introduction of different taste & flavors of dairy alternative beverages present new opportunities in the coming years.
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The almond segment to maintain its lead position during the forecast period
Based on origin, the almond segment accounted for the highest market share in 2019, accounting for nearly one-third of the global non-dairy creamer market, and is expected to maintain its lead position during the forecast period. Moreover, this segment is estimated to register the largest CAGR of 7.6% from 2021 to 2027. This is due to low cholesterol and low-fat content in almond creamers and rise in demand for cholesterol-free products. The research also discusses segments including coconut, soy, and others.
The liquid segment to offer lucrative opportunities
Based on form, the liquid segment accounted for nearly two-thirds of the global non-dairy creamer market in 2019, and is expected to contribute its highest contribution in terms of revenue by 2027. Moreover, this segment is expected to portray the highest CAGR of 7.4% during the forecast period. This is attributed to convenience and ease of use offered by liquid non-dairy creamers and rise in number of lactose intolerant population across the world. The report also analyzes the powdered form.
North America to continue its leadership status throughout the forecast period
Based on region, North America accounted for the highest share with nearly two-fifths of the total share of the global non-dairy creamer market in 2019, and will continue its leadership status throughout the forecast period. This is attributed to aggressive marketing and positioning strategies, new product launches, and rise in health awareness among consumers. However, Asia-Pacific is estimated to witness the largest CAGR of 8.6% from 2021 to 2027, owing to growing inclination of consumers toward non-dairy products.
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