DUBLIN–(BUSINESS WIRE)–The “Fermented Plant-Based Alternatives Market – A Global and Regional Analysis: Focus on Applications, Products, Patent Analysis, and Country Analysis – Analysis and Forecast, 2019-2026” report has been added to ResearchAndMarkets.com’s offering.
The global fermented plant-based alternatives market is expected to reach $422.26 million by 2026, with a CAGR of 5.0% from 2021 to 2026.
The major factors uplifting the growth of the market are the increasing trend of veganism across the globe coupled with escalating health issues among individuals. Food allergies have also been rising among consumers due to the intake of dairy-based products caused by the reaction of protein present in milk and other dairy products with the body’s immune system. As fermentation can make the body immune to any negative reaction from dairy products, these products are gaining more attention from consumers.
The global fermented plant-based alternatives market is highly fragmented, with the presence of several players in the market. The market has a high industry rivalry as multiple renowned brands are present in the industry, such as Nestle, Perfect Day, Danone, Tesco, and DuPont.
The segment also provides details about the competitive strength of the key players operating in the market. For instance, Nestle is a food and beverage company that operates through more than 2000 brands in 186 countries across the globe. The company offers multiple products in its food and beverages portfolio, such as baby food, bottled water, chocolate, and confectionery products.
Nestle also has a diverse product offering in plant-based food and beverages such as vegan alternatives to tuna fish named Vuna, plant-based mill protein, creams, and many such products.
How This Report Can Add Value
Product/Innovation Strategy
The segment gives a brief overview of the product portfolio of several fermented plant-based alternatives and the new launches and innovations in the market pertaining to these products. For instance, in February 2021, Halsa Foods expanded its product line in the U.S. with the launch of an unsweetened sugar oat milk yogurt alternative. The company has also introduced new organic vanilla oat milk yogurt made with vanilla extract and apple juice.
The section also gives a brief overview of the market status of different applications of the product and key players offering products in those applications.
Supermarkets/hypermarkets have the largest market share in the segment attributed to the presence of various brands and variety in the place. Moreover, supermarkets are consumer friendly as they allow discounts and offers for large shopping bills as well as on specific products, which attracts more consumer attention.
Growth/Marketing Strategy
The fermented plant-based alternatives manufacturers have opted for various development strategies to gain more market share and a competitive edge over other players. Partnerships and collaborations are the most common strategy adopted by companies in the time period January 2018-June 2021.
New product launches and innovations are also prevalent in the market as the demand for plant-based food items is on the rise, and more companies are keen to introduce plant-based alternatives to their product portfolio. For instance, in July 2020, Danone launched its plant based Actimet yogurt drink range, which is produced by using roasted oats and almonds.
Key Questions Answered in the Report
- What are the current trends in the global fermented plant-based food industry?
- How does the introduction of fermented plant-based alternatives impact the global plant-based food and beverage market?
- What is the growth prospect of fermented plant-based food alternatives in Asia-Pacific?
- Can the vegan trend drive the future of the fermented plant-based food market?
- How is the role of governments regarding food safety issues and changing the landscape of the fermented plant-based alternatives industry?
- Which food type is expected to lead the fermented plant-based alternatives market by 2026?
- What was the market value of the leading segments and sub-segments of the market in 2020, and how is the market estimated to grow during the forecast period 2021-2026?
- How is the industry expected to evolve during the forecast period 2021-2026?
- What are the key developmental strategies implemented by the key players to sustain in the competitive market?
- What are the key growth regions in the fermented plant-based alternatives market?
Market Dynamics
Growth Drivers
- Increasing Adoption of Sustainable Diet
- Escalating Lactose Intolerance and Milk Allergies among Consumers
- Changing Dietary Patterns (such as Veganism and Flexitarianism)
Challenges
- Getting the Right Texture and Taste
- Ensuring a Healthy Nutritional Profile
Opportunities
- Investment in Fermented Plant-Based Yogurt
- Growing Demand for Plant-Based Meat
Companies Mentioned
- AngelYeast Co., Ltd
- Arla Foods
- Cargill, Incorporated
- Chr. Hansen Holding A/S
- Danone
- DuPont
- Evonik Industries AG
- Field Roast Foods
- General Mills, Inc
- Impossible Foods Inc.
- Nestle
- Perfect Day
- Tesco PLC
- The Hain Celestial Group, Inc.
- Yofix Probiotics Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/d6p780
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