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The global pet food processing market is expected to be worth USD 5.0 billion in 2022, rising to USD 8.4 billion by 2032, representing a CAGR of 5.3 percent for the forecast period of 2022–2032.

The pet food processing market is predicted to grow as demand for pet food rises due to the recent trend of pet parenting. Growing pet food processing research and development, as well as technical improvements, are predicted to produce amazing outcomes in terms of new products that will appeal to customers and propel the pet food processing market to new heights.

For the years 2019-2020, the pet dog and cat population has grown at a considerable rate of 3.5 percent. This indicates that more and more people are getting into pet ownership, and the demand for chemical-free, high-nutrition, high-quality food has grown. This is likely to help the burgeoning pet food processing industry.

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Key Takeaways from Market Study

• Companies are more likely to explore sustainable pet food processing methods. Companies can also fulfill their CSR obligations by moving to sustainability
• US pet food processing market is projected to grow at a CAGR of around 5.8% over the next ten years.
• An alternative source of protein could boost profits for businesses while also improving the quality of pet food. With technological advancements, companies are using algae, yeast and insects to make superior quality high protein pet food.
• India’s pet food industry is anticipated to be valued at 25 billion INR, with around 29 million pets. As a result, it is a valuable market location for businesses.
• Rising pet humanizing trend and growing demand in Europe, the pet food processing market is expected to flourish in this region.

“ The pet food processing market is expected to have significant growth due to the trends and factors like use of animal-free pet food, Natural preservative demand, variety of ingredients, increase in pet keeping and pet humanization trend,” says a lead analyst at Future Market Insights.

Competitive landscape:

Pet food processing companies are more inclined towards research and development to enhance the quality of their products. Manufacturers are using advanced technologies and methods to get superior pet food that is cost-effective and sustainable.

• Bond pet inc. use methods that can make their high-protein pet food products animal-free. Crickets are an excellent source of protein in pet food that is both cost-effective and beneficial to animals.
• Bergen and Biomega Group use fish by-products from salmon processing units to make pet food of supreme quality. These are used to increase the protein and fatty acid content of pet food, which is quite preferred among pet owners.

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Explore More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of pet food processing presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study shares valuable insights on the Pet Food Processing based on Equipment (Mixing & Blending, Forming Equipment, Baking & Drying, Cooling Equipment, and Others), By Form (Wet, Dry), by Application (Dog Food, Cat Food, Fish Food, and Others), across seven major regions of the world.

The global calcium propionate market is set to witness growth at a CAGR of 5.6% and top a valuation of USD 498 Mn by 2032.

In terms of product type, dry calcium propionate for confectionery and liquid calcium propionate together accounts for over 40 % of the Calcium Propionate market in 2022.

Due to the calcium propionate capabilities, the bakery goods category is expected to dominate the market in lowering chemical agents in yeast and bacteria, which is a prominent element in bread products. Furthermore, the dry calcium propionate segment is expected to dominate the market.

Calcium propionate demand is predicted to rise as the foodservice sector grows. Depending on the requirements, calcium propionate is frequently used in the baking and packaged food sectors of the food business. Due to higher bread consumption in developing nations, the expansion of the bread market is expected to boost demand for calcium propionate.

The calcium propionate market has achieved maturity in developed areas such as Europe and North America. Economies in the Middle East and Africa are expected to develop slowly until 2032, according to projections. However, the Asia-Pacific region is expected to grow at a considerably faster rate, owing to the expanding food industries in nations such as China and India.

In the food industry, natural calcium propionate is currently being utilised to make it as healthy to consume as organic calcium chloride. The food industry uses current technology such as bacteriophages, MAP, and other quality factors in conjunction with preservatives to protect food quality and safety.

The calcium propionate market is the world’s biggest preservative category. Despite the high cost of raw resources, this industry is confronted with difficulties. This component of the study is treated strategically, with a stronger emphasis on its commercial uses and potential business prospects. Increased R&D expenditure, particularly in developed economies like North America and Europe, is likely to provide market participants with growth prospects.

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Key Takeaways from Market Study

• The calcium propionate market is expected to expand at CAGRs of 9.8% and 15% in the US and Europe respectively, through 2032.
• The European calcium propionate market is currently pegged at USD 106 Mn.
• In comparison to the liquid form, the dry form of Calcium propionate will have a larger demand. The convenience with which the ingredient may be mixed into meals is one of the advantages of the dry form.
• By application, the bakery section holds the highest market share and is set to expand at a CAGR of 11%.
• The outbreak of COVID-19 disrupted the supply chain of calcium propionate, causing a trade slump. However, with nations giving possibilities and rising consumer demand for bakery items, the industry is likely to rise significantly.

“Producers of calcium propionate would gain significant profits by targeting the food & beverage industry. The bakery industry would also serve as a potential market for calcium propionate across the globe,” says a Future Market Insights analyst.

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Competitive Landscape

Calcium propionate producers are concentrating their efforts on research and development in order to improve the quality of their goods.

Kemin Industries: In 2018, the firm was bought by Agri-Marketing Corp., which is a Canadian corporation, in 2018. The firm was able to expand and open a new facility in Quebec as a result of this takeover.

Bio-Vet Inc: In the year 2019, the firm created a new section devoted to the mining and production of Calcium Propionate.

ADDCON: The firm extended its production facilities in Germany in 2019. This has been done in order to keep up with rising customer demand. The firm also updated its chemical park location and relocated its operations to a new management building in Germany in the same year.

About Food & Beverage Division at Future Market Insights

The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

The global herbal supplements market is set to witness growth at a CAGR of 7.8% and top a valuation of USD 190.2 Bn by 2032.

Consumer awareness of the medicinal benefits of consuming herbal supplements, particularly among the elderly population, is expected to be among the key drivers of market development. The growth in female herbal supplement customers, as well as an increase in the use of herbal products by the youth demographic, has fueled the global market for herbal supplements.

The pharmaceutical sector of the herbal supplement industry has far more volume. The herbal supplement markets in North America and Asia-Pacific are expected to grow significantly. In these sectors, the medical industry’s development will assist the herbal supplement industry. Due to the growing desire for herbal remedies, some of the world’s most well-known pharmaceutical companies are doing research on a variety of herbal supplements.

The herbal supplement market in places like Latin America and Asia will grow as a consequence of their initiatives. In Asia Pacific, alternative medicinal items such as traditional Asian and Ayurveda therapy are in significant demand. Additionally, consumption of herbal remedies has risen as the pharmaceutical sector in emerging countries such as India and China have expanded significantly. Furthermore, continuous demand from countries such as Europe would boost the market’s rise.

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Overweight and ageing population are on the rise all across the world. As a result, herbal supplements for medicinal purposes are becoming increasingly popular. The whole herbal supplement market is benefiting from a rise in sedentary lifestyles, higher consumption of healthier meals, and increased health-care knowledge. Other major factors driving the herbal products market comprise rising disposable income in emerging countries, increased awareness of herbal supplement health benefits, and a rise in the occurrence of health issues.

Diabetes, heart disease, cancer, as well as other chronic illnesses are on the rise all over the world. An increase in the frequency of medical issues has resulted in a greater awareness of eating well. Because of better lifestyles and dietary habits, customer awareness of fitness and health has increased in countries like India and China.

People are becoming more conscious of what they eat and the benefits of herbal supplements, which is fueling the herbal supplement market’s rise. Furthermore, changes in their lifestyle have forced them to place a higher value on their health.

Key Takeaways from Market Study

• The herbal supplements market is expected to expand at CAGRs of 7.8% and 15% in US and the Middle East & Africa, respectively, through 2032.
• The Asia Pacific Herbal Supplements market rose by 6.6% year over year, defying early predictions about how the business would function in the event of a worldwide pandemic. Natural supplement demand/sales contributed roughly 33% of overall supply in North America in 2022.
• The European herbal supplements market is currently pegged at 32% of the total market share.
• Herbal Supplement components are selling well in worldwide marketplaces, because to rising consumer demand for nutritionally balanced foods.
• In 2022, world consumption for plant-based supplements grew by 10.3% year over year. It has 43% of the herbal supplement marketplace and is predicted to increase at a significant pace of 7.2 percent by 2032.
• During the timeframe of 2017-2022, curcumin ingredient revenue increased by 9.8%.

“Herbal supplement companies might make a lot of money if they targeted the food and beverage industries. Because of the rising need for biomedical products around the world, the nutritional supplements business might be a strong market for herbal supplements,” says a Future Market Insights analyst.

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Competitive Landscape

Herbal supplement producers are putting a lot of effort into development and technology to ensure the quality of its product.

• Bio-Botanica: In 2018, the business formed a joint venture with Genomatica to create a new extraction facility. The extracts will be produced according to Genomatica’s methods and will contain the proprietary component Brontide. The extracts are created using a Bio-proprietary Botanica technology that guarantees the extracted substance has as many natural substances as possible.
• Archer Daniels Midland: The firm announced the acquisition of Protix, a probiotics manufacturer in 2019. This will allow the firm to continue to develop and conduct research in the field of natural healthcare supplements for pets and humans.
• Herbalife: The firm introduced its meal replacement line in 2022, which focuses on nutrition and is simple to ingest. Shakes, baked pastries, and munchies are among the products available. The firm introduced digestive health supplements with a fibre compound in the year 2021. Production takes place in the United States and Canada.
• Nuvothera Inc: In the year 2019, the firm announced the beginning of a supplementation project including microparticles Turmeric, which will result in a rise in curcumin-containing drinks. The product is predicted to grow in popularity since it provides certain health advantages and reduces reliance on medications.
• Applied Food Sciences Inc: In the year 2018, the business released CurcuFlow, that is a curcumin extract. This new substance will be used to generate a non-staining turmeric cleaning solution.

About Food & Beverage Division at Future Market Insights

The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

According to the recent FMI report, the sales for meat alternatives is expected to witness a value of US$ 6,378.9 Million in 2031, rising at a CAGR of around 12.7% through the end of 2031.

Meat substitutes have been on the market for quite some time. However, it was only after the spread of veganism and flexitarianism that these products began to acquire traction. Previously, there were few meat substitutes available on the market. However, as the vegan movement has grown, new players have entered the market for meat replacements, releasing novel goods that taste exactly like meat.

Furthermore, meat alternatives have their department in retail establishments, which raises customer interest and so creates and improves sales opportunities for market participants. The global meat alternatives market is expected to account for around US$ 5,660.1 Mn in 2021.

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Key Takeaways from the Meat Alternatives Market Study

• Soy, wheat, faba bean, pea, lentil, rice, and other plant-based proteins are gaining significant market share. These segments are expected to increase rapidly during the next few years. The demand for these plant-based ingredients is increasing as they are increasingly used in innovative vegan meat alternatives.
• Cultured meat is still in its early stages of development and is projected to remain so for at least a few more years. Technological developments have paved the way for cultured meat to become a viable meat substitute in the future, but not right now.
• Insect protein contains nearly the same amount of protein as beef protein and has a greater iron concentration. As a result, it is regarded as a very good source of meat alternatives. In North America, the insect protein was only introduced after the FAO released a report in 2013. The number of companies producing these items has risen dramatically.
• Meat substitutes can be found at most grocery stores and supermarkets. Meat substitutes are available at quick-service restaurants. In some supermarket stores, meat alternatives are beginning to coexist with real meat in the aisles. While meat alternatives distribution isn’t yet up to par, significant businesses are working hard to extend their networks. Carrefour, a European grocery chain, for example, entered the bug market with a line of buffalo worm pasta and granola. Eat Grub, a London-based food firm, is selling bags of roasted crickets at Sainsbury’s and Ocado.

While the concept of meat alternatives has only recently gained popularity, it has been discussed for quite some time. Many products that were not promoted as meat replacements have been available on the market for a long time.  For instance, textured soy protein has been on the market for a long time. The texture, taste and protein content have all been replicated meat, although not completely but partially. However, as the vegan and flexitarian populations have grown, the demand for meat alternatives has expanded significantly.

“Although the traditional meat sector is not slowing down, demand for meat alternatives is steadily increasing. Product development has contributed to the expansion of the meat alternatives industry. Consumers are becoming more interested in the companies’ innovative offers. In the meat alternatives sector, product introductions are expanding by double digits year after year,” says an FMI analyst.

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Who is winning?

Some of the key players operating in the meat alternatives market are According to market research analysis Ingredion Inc., Archer Daniels Midland Company, Cargill Inc., CHS Inc., Wilmar International Ltd., AGT Food & Ingredients, Inc., Beyond Meat Inc., Cargill Inc., CHS Inc., E. I. DU PONT DE NEMOURS AND COMPANY, Glanbia plc, Hügli Holding AG, Impossible Foods Inc., Ingredion Inc., MGP Ingredients, The Kraft Heinz Company, AGRANA, among others.

As the number of consumers opting for meat alternatives is growing, several major meat product manufacturers are entering the market. To meet shifting customer demand, market participants in the meat alternatives market are focusing on innovation, product launches, and increasing their distribution networks.

• In June 2019, Beyond Meat, Inc. launched a new product for the meat alternatives market, Beyond Beef which started selling in grocery stores across the U.S. Beyond Beef is plant-based ground beef that is made from a combination of proteins such as peas, rice and mung bean and various other spices and is ready to cook.
• Impossible Foods, Inc. launched Impossible Burger 2.0 at the International Consumer Electronics Show in Las Vegas out textured wheat protein for soy protein concentrate which has switched
• In 2019, TUNO, a seafood alternative by Atlantic Natural Foods LLC, was launched in the supermarkets of the UK. Morrison became the first retailer in the UK to stock TUNO.

Find More Valuable Insights on Meat Alternatives Market

Future Market Insights, in its new offering, offers an unbiased analysis of the global meat alternatives market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the meat alternatives market based on the product type, nature, source, storage, distribution channel and end-use application across seven major regions.

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

According to a recent report by Future Market Insights, a market research and competitive intelligence provider, the citrus oil market is estimated to reach a value of USD 5.8 Bn Mn by 2032, surging at 4% CAGR through the decade.

As a result of rising health consciousness and consumer demand for natural ingredient products, the citrus oil market is rapidly expanding. The growing popularity of organic products is fueling industry growth. Other factors such as rising demand for cosmetic and personal care products, rising disposable incomes, and rapid technological advancements will all significantly contribute to market growth.

Furthermore, citrus fruits and vegetables like orange, lemon, and grapefruit, which are the main sources of citrus oil, are abundant in nature. As a result, the widespread availability of citric fruits and vegetables has been critical in increasing citrus oil production.

Growing investments in research and development activities to find new uses for citrus oil are expected to boost the global citrus oil market’s growth over the forecast period.

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Key Takeaways from Market Study

• The Chinese citrus oil market is expected to reach USD 540 million by 2032, growing at a CAGR of 9%.
• France is expected to have a 15% market share. France is expected to be the largest market in terms of the value of citrus oils during the forecast period, as consumers’ preferences for sophistication and demand for natural beauty care products, fragrances, and medicines rise.
• The Citrus Oil Market in Germany is expected to grow at a CAGR of 3.8% between 2022 and 2032.
• The Spanish citrus oil market is expected to grow at a CAGR of 3.5%. Apart from the food and beverage industries, citrus oil is expected to be in high demand in the healthcare industry in Spain for the treatment of infections, skin disorders, obesity, and asthma.
• The Russian citrus oil market is expected to expand at a 4.5 percent CAGR. Orange oil is in high demand among Russian citrus oil market participants.

“Citrus oil is gaining popularity not only as a flavor enhancer but also for its medicinal properties. Citrus oil demand has increased in recent years due to an increase in demand for protected and value-added foods,” says a lead analyst at Future Market Insights.

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Who is winning?

The market’s essence is sharply divided. Increased use of nutraceutical, functional, and dairy supplements due to their high phenolic content is expected to create growth opportunities for market participants. During the forecast period, the nutraceutical industry will expand significantly, and product demand will rise.

• For example, Archer Daniels Midland Company (ADM) acquired Ziegler Group, a European citrus oil manufacturer, in March 2019 in an effort to expand their citrus oil offerings in the market.

Mountain Rose Herbs, Young Living Essential Oils, Farotti Essenze, Moksha Lifestyle Products, LLC, TERRA Holdings, Plant Therapy Essential Oils, and others are among the market’s major players.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the citrus oil presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the citrus oil based on source (Oranges, Tangerines/Mandarins, Lemon and Lime, Grapefruit) extraction method (Steam Distilled, Cold-Pressed, Hydro-Distillation) fold (2-4 Folded, 5-7 Folded, 8-10 Folded, Above 10 Folded) grade (Deterpenated Oil, Terpenless Oil, Concentrated Oil, Terpene Oil) application (Food & Beverage, Personal Care & Beauty Products, Home Care Products, Aromatherapy, Health Care Products) channel (Direct Sales, Modern Trade, Specialty Store, Mono Brand Store, Online Retailers, Other Sales Channels) region (North America, Latin America, Europe, Japan, APEJ, MEA).

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

According to a recent report by Future Market Insights, a market research and competitive intelligence provider, food testing is estimated to reach a value of USD 20 Bn by 2032, surging at 8.5% CAGR through the decade.

Food testing services are in high demand due to the growing threat of foodborne diseases, adulteration, and toxicity. Every year, one out of every ten people becomes ill from a foodborne illness, with children under the age of five being the most vulnerable.

Each year, approximately 450,000 people die as a result of eating contaminated food, according to the World Health Organization (WHO). These factors highlight the importance of increased care and the construction of more food-safety facilities.

In developed countries, the food testing market is being driven by rising consumer interest in food quality and technological advancements. Through safety certifications and compliance, food processing companies and foodservice organizations are gaining consumer trust. Increased consumer interest in food safety and quality issues, as well as the ability to quickly share these issues via social media, combined with expanding regulatory resourcefulness, such as the Food Safety Modernization Act (FSMA), are raising the importance of testing.

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Key Takeaways from Market Study

• The United States dominates the global market for food safety testing. The strict regulations imposed by regulatory bodies are a major factor driving the growth of the food safety testing market in the United States.
• The high occurrence of food safety incidents in China, rising food exports from China, and globalisation of food trade are driving market growth.
• Because India is the world’s largest milk producer, rigorous food testing is required before any dairy products are exported or even consumed in India.
• Spain is currently driving global market growth and will do so in the future.
• Japan is one of the most technologically advanced countries in the world. This helps Japan’s food testing industry grow by allowing for better R&D and, as a result, better measures.

“During the COVID-19 pandemic, there was an increase in the demand for food safety testing as food manufacturers offered virus-proof food products to consumers in order to gain a competitive advantage over other market players. Furthermore, in the face of an increasing virus threat, government officials are ensuring food product safety,” says a Future Market Insights analyst.

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Who is winning?

Over the last four years, the leading market participants in the overall food safety testing market have implemented key strategic developments.

• Eurofins Scientific, in collaboration with Nestle Research (Lausanne, Switzerland), developed a new method for identifying fructans in infant formulas and adult nutrition in October 2020. The method had received official standard status from the world’s leading standardisation organisations, including AOAC, ISO, CEN, and IDF.
• SGS SA’s partnership with RLP AgroScience will benefit the company’s development of more complex, tailor-made experimental designs for pesticides, chemicals, biocides, and human/veterinary drugs in February 2021.
• Bureau Veritas, in collaboration with Leela Palaces (India), launched the “Surakhsha” initiative in May 2020 to provide high standards of food safety and hygiene while also leveraging technological services to maintain hygiene standards.

SGS SA (Switzerland), Intertek Group plc (U.K.), Eurofins Scientific S.E. (Luxembourg), Thermo Fisher Scientific Inc. (U.S.), ALS Limited (Australia), Bureau Veritas SA (France), Merieux NutriSciences Corporation (U.S.), and others are among the key players profiled in the global food safety testing market.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global food testing market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Market Segments Covered In Food Testing Industry Analysis

Type:                    

• Pathogens
• Salmonella
• Campylobacter
• E.coli
• Listeria
• Others
• Pesticides
• Genetically Modified Organism (GMO)
• Toxins
• Others

Technology:

• Traditional
• Rapid
• Polymerase Chain Reaction (PCR)
• DNA Sequencing/NGS
• Immunoassay
• Chromatography
• Spectroscopy

Food Tested:

• Meat, Poultry, and Seafood
• Processed Food
• Fruits & Vegetables
• Dairy Products
• Cereals & Grains
• Others

Region:

• North America
• Europe
• Asia-Pacific (APAC)
• Rest of the World

About Food & Beverage Division at Future Market Insights

The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

According to a recent report by Future Market Insights, market research and competitive intelligence provider, sales of Dairy Alternatives are estimated to reach a value of US$ 123,634.7 Mn by 2032, surging at 14.7% CAGR through the decade.

Dairy alternatives are plant-based foods and beverages that can be used to replace dairy products in a healthier way. Dairy alternatives are considered healthful due to the presence of a number of essential vitamins and minerals in dairy products. Concerns about hormones, pesticides, and antibiotics in dairy products are driving demand for dairy alternatives.

Rather than using milk as raw material, a variety of new and innovative beverage firms are using dairy alternatives as to the foundation component. Customers’ rising need for a variety of beverage options has resulted in a variety of dairy-free flavored beverages. Lactose-intolerant consumers are also seeking a variety of milk-based dairy substitute beverages, which is driving the market forward.

The Asia Pacific, excluding China, dominates the worldwide dairy alternative market, followed by Europe, North America, Latin America, the Middle East, and Africa. The Asia Pacific accounts for a large portion of the market and is likely to drive regional demand for dairy substitutes in the future years.

The regional sector has grown in size due to rising demand for nutritional and healthy products, as well as a shift in customer tastes toward a vegan diet. Favorable government policies to boost import, export, production, and distribution in key economies like China, India, Japan, Malaysia, and Indonesia would lift regional business statistics even higher.

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Key takeaways from market study

• Dairy alternatives have evolved as a safe substitute for dairy products because they are obtained from natural sources and extracted naturally.
• The Dairy Alternatives Market grew at a CAGR of 13.6 percent from 2017 to 2021.
• Plant-based milk replacements that are vegetarian-friendly are expected to put pressure on India’s traditional dairy industry.
• Vegan milk is widely available in India, with brands such as Sofit and Staeta’s almond and soy milk.
• In the United States, rising consumer demand for sweetened flavored soy and almond milk is expected to fuel the dairy alternatives market.
• In response to consumer demand, Sainsbury’s has increased the number of dairy-free milk brands it offers, with around 300 shops in the U.K.
• With such a high number of lactose-intolerant persons in Brazil, vegan and plant-based options are gaining popularity.
• Sugar reduction, healthy eating, and more protein and fibre content in food are three major trends affecting the Brazilian food business.

“Vegan or flexitarian diets are expected to create attractive opportunities for the dairy substitutes market to grow, as well as widespread condemnation of animal cruelty and the dairy sector’s greenhouse gas emissions, which have increased dramatically in recent years and are negatively impacting the dairy industry. In both affluent and developing countries, this has raised concerns and spurred demand for dairy alternatives”, says a lead analyst at Future Market Insights.

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Competitive landscape

The majority of dairy alternatives manufacturers are vertically integrated through established procedures in the end-user phase of the value chain. As a result, a number of major companies are developing dairy-free goods, as well as beverages made with substitutes like almond or soy milk. For industry participants, new product development in the food and beverage industry to offer alternatives to milk-based commodities is expected to be a significant success factor.

For example, the Hershey Trust Company’s Sofit brand, which is available in the Kesar Pista flavor, has been designed to appeal to Indian clientele.

Some of the major companies in the market are SunOpta Inc., Hain Celestial Group, Inc., Oatly, Danone, Daiya Foods Inc., Vitasoy International Holdings Limited, Living Harvest Foods Inc., Melt Organic, Earth’s Own Food Company Inc., Ripple Foods, The Whitewave Foods Company, ADM, Nutriops, S.L., Eden Foods, Inc.

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Future Market Insights, in its new offering, provides an unbiased analysis of Dairy Alternatives presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032

By Source:

• Soy
• Almond
• Rice
• Coconut
• Oats
• Others

By Product:

• Regular/ Unflavored
  • Soy Milk
  • Almond Milk
  • Coconut Milk
  • Oat Milk
  • Others (Hemp, Flax, etc.)
• Flavored
  • Soy Milk
  • Almond Milk
  • Coconut Milk
  • Oat Milk
  • Others (Hemp, Flax, etc.)

By Nature:

• Organic
• Conventional

By Distribution Channel:

• Direct Sales/ B2B
• Indirect Sales/ B2C
  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Mass Grocery Retailers
  • Specialty Stores
  • Online Retail