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The rising demand for craft beer is key growth enabler of mezcal market. Future Market Insights (FMI) in a new study has forecast the market to exhibit above 12% Y-o-Y growth after contracting due to unprecedented COVID-19 outbreak in 2020. Consumer inclination towards alcoholic beverages derived from natural sources is a key game changer. Their evolving behavior pattern has stirred interest in mezcal and has made them especially receptive to the lesser-known categories such as raicilla with the unusual agave varieties.

Driven by consumer interest in craft beers, distillers are experimenting with various agave varieties for mezcal production with a healthy twist to satiate their evolving preference. According to FMI, the demand in 100% tequila category will rise exponentially. Following the age of craft beer, there is visible shift towards trying mezcal, especially in the West, which has been key to growth registered in the 100% tequila segment.

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It has been noted trend popularized across social media platforms have a profound influence in determining consumer behavior pattern. While online exposure has increased frequency to bars, pubs, and lounges, focus on health is yet another growth driver. The absence of gluten has been increasing their preference for drinks that include mezcal.

Key Takeaways from the Mezcal Market Study

• Outlook for mezcal market remains strong for the upcoming decade as it is forecast to rise at nearly 13.5% CAGR between 2021 and 2031
• Backed by soaring popularity of mezcal, the U.S. is expected to account for over 90% of mezcal sold in North America in 2021
• Mexico will remain a key producer of mezcal, exhibiting over 10% Y-o-Y growth in 2021
• U.K. will remain a bright spot, exhibiting above 14% Y-o-Y growth in 2021
• Outlook for Brazil in Latin America and China in Asia Pacific excluding Japan will remain strong

“Mezcal market is populated by small producers. With competition soaring across most lucrative pockets, players are likely to focus on research and development. For instance, some of them are leveraging high pressure process (HPP) to extend the shelf life of mezcal,” said a lead analyst at FMI.

Who is winning?

A few of the leading players operating in the Mezcal market are Bacardi Limited., Familia Camarena Tequila, Craft Distiller, Destileria Tlacolula, Diageo Plc., Don Julio, S.A.de., EI Silencio Holdings INC, Fidencio Mezcal, Ilegal Mezcal, Sombra Mezcal, William Grant & Sons Ltd, Sauza Tequila Import Company, Rey Campero., Brown-Forman Corporation (Grupo Industrial Herradura, S.A. de C.V.)., Del Maguey Co., Pensador Mezcal, Pierde Almas.and other players.

Several leading manufacturers of mezcal are focusing on partnering with prominent players in the market to increase its business footprints and to increase their production capacity. Leading players of mezcal are investing in research and development to produce organic, non-GMO ingredients for mezcal.

For instance, Diageo acquired Pierde Almas, which is a premium brand, in 2018 and extended launched a mezcal to extent its Casamigos Tequila line.

Similarly, Campari Group acquired a controlling stake in Montelobos mezcal and Ancho Reyes liqueur for a deal of whopping US$ 35.7 million in 2019.

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Get Valuable Insights into Mezcal Market

Future Market Insights, in its new offering, provides an unbiased analysis of the mezcal Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the mezcal market based on Product Type (Mezcal Joven, Mezcal Reposado, Mezcal Anejo), Concentrate (100% Tequila, Mix Tequila) and By Sales Channel (HORECA, Speciality Stores, Modern Trade, Online Retailers, Other Sales Channels) across six major regions.

 

Dried soup is also referred to as instant soup mix that comprise of dehydrated ingredients such as grains, vegetables, legumes, and meat among others. There a number of procedures or methods available for dehydration of ingredients, however, freeze drying or slow air drying techniques remain the prominent ones. Dried soup is also gaining momentum owing to its high nutritional offerings in oppose to other varieties of instant or ready-to-eat soup available in the market. Additional factors such as changing consumer preference, rising disposable income and changing lifestyle is further influencing the pattern of consumption of various convenience food items including dried food. Increased reliance on such easy-to-make and reasonably healthy food items is expected to drive the global sales of dried soup over the next couple of years. According to Future Market Insights (FMI)’s recently published report, the global dried soup market will soar at a CAGR of 2.6% between 2017 and 2022, to reach a valuation in excess of US$ 2,000 Mn.

Moreover, introduction of soups that are gluten free and contain more nutritional value is expected to reflect favourable on the sales of dried soup over the next couple of years. As per the recent study conducted by Future Market Insights (FMI), the global dried soup market is set to surpass a valuation of US$ 2,000 Mn by the end of 2022.  The study has also identified a number of additional factors that are likely to influence the growth of the market during the forecast period (2017-2022).

Demand for dehydrated dried soups is significantly higher than instant dried soup. Sales of dehydrated dried soups currently account for more than three-forth revenue share of the global dried soup market. Dehydrated dried soups are available in a wide-range of flavour, vegetables, grains, dehydrated meat and legumes.

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Introduction of new flavours and implementation of creative promotional strategies by brands are proving to be quite effective in driving the sales of their products. Some of the new and innovative packaging concepts are successfully drawing consumers’ attention. New packaging styles are playing an important role in influencing the consumers’ mind set, making them more curious about the product. Manufacturers usually use pouches, cup or boxes to pack dried soup and try to create designs that can appeal to consumers. In addition, growing popularity of the convenience food and increasing consciousness about healthy food among consumers is likely to make a positive impact on the global market for dried soup during the forecast period. The arrival of dried soup that has zero gluten content and are prepared using organic ingredients is anticipated to support the growth of the market. However, the artificial flavouring and preservatives added to dried soup may increase blood pressure and blood sugar levels, which remains a major issue for most manufacturers.

Additional Highlights of the Report Include: 

• FMI’s report reveals that the Europe will continue to be the most lucrative market for dried soup during the assessment period. Europe currently commands for the largest revenues share of the global market in terms of revenue. This is primarily attributed to the robust consumption of dried soup in the regions. Moreover, a number of hotels, bars and restaurants in Europe include various dried soup dishes in their menu. Meanwhile, North America and Asia-Pacific excluding Japan (APEJ) regions will also remain important markets for dried soup over 2022.
• On the basis of product type, the dehydrated dried soups segment will retain its top position over 2022. This segment currently represents over 84% market share in terms of revenue and the figure is likely to witness a slight uptick by the end of the forecast period.
• On the basis of packaging, the pouches segment is expected to remain highly attractive through the forecast period. Currently, the segment commands for close to 43% revenue share of the market and likely to remain dominant in 2017 and beyond. By 2022-end, the pouches segment is expected to surpass a market valuation of US$ 900 Mn.

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Competitive Landscape

In order to gain a competitive edge, leading companies operating in the global market for dried soup are actively focusing on introduction of new and unique dried soup flavours that have higher food value. General Mills, Inc., Campbell Soup Co., Nestlé S.A., B&G Foods, Inc., Greencore Group Plc. Unilever Plc, Associated British Foods, The Kraft Heinz Company, Baxter’s Food Group, and Nissin Foods Holdings Co. Ltd. are some of well-known companies that manufacture dried soup.

Key Questions Answered in the Report

What is the outlook of dried soup market?

The dried soup market is valued at US$ 1.95 Bn in 2021 and is expected to be 2.6% CAGR through 2022.

Which are the dried soup companies?

The leading companies in dried soup market are Campbell Soup Co., General Mills, Inc., Associated British Foods, Nestlé S.A., Baxter’s Food Group, Nissin Foods Holdings Co. Ltd.

 

A new report by Future Market Insights titled “Herb & Spice Extracts Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)” presents a holistic view of the global herb and spice extracts market and provides useful data and insights on key market dynamics, market growth, and trends and opportunities likely to prevail over a 10 year forecast period from 2017 to 2027. According to Future Market Insights predictions, the global herb and spice extracts market is estimated to be valued at US$ 11.4 Bn by 2017 end and this is anticipated to increase to US$ 18.7 Bn by the end of the forecast period in 2027, witnessing a CAGR of 5.1% in terms of value. Increasing demand for herbal products in the personal care category and more consumers driven towards ethnic flavours of herbs and spices in their diet is expected to drive the growth of the global herb and spice extracts market.

The global herb and spice extracts market revenue has been estimated by taking into account revenue of the regional herb and spice extracts markets of North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. APEJ is slated to remain the largest and dominant market for herb and spice extracts throughout the forecast period, with a market value of about US$ 7.1 Bn expected by the end of the assessment period in 2027. The APEJ regional market is anticipated to grow 1.7x over the forecast period and represent absolute $ opportunity of just under US$ 3 Bn between 2017 and 2027.

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Global Herb & Spice Extracts Market: Segmental Analysis

The global herb and spice extracts market is segmented on the basis of Product Type into Herb Extracts and Spice Extracts; on the basis of Form into Powder, Liquid, and Others; on the basis of Application into Food (Sauce/dressing/condiments, Confectionery/bakery, Dairy products, Others), Beverages (Juices, RTD Tea, Alcoholic beverages, Traditional homemade drinks, Others), Personal Care (Skin Care, Hair Care, Perfumes & Fragrances, Aromatherapy, Others), Nutraceutical, Pharmaceutical, and Others; and on the basis of Sales Channel into Direct sales and Indirect sales (Specialty stores, Hyper/supermarket, E-commerce, Other retail formats).

• By Form, the Liquid segment is expected to dominate the global market in terms of value share and is estimated to hold about 49% share of the global herb and spice extracts market by 2027 end. Powder is the most commonly used form as it has a wide application in home cooked foods and other food preparations.
• Spice Extracts is the largest segment by Product Type, with a market share of more than 50% recorded during the forecast period. A high demand for spices in food and beverages, seasonings, and condiments is expected to fuel segmental growth over the forecast period.
• In terms of Application, the Food segment will dominate the global herb and spice extracts market, with an estimated market share of more than 40% throughout the forecast period. The demand for herb and spice extracts in the food segment is likely to grow continuously during the forecast period owing to their wide application as flavouring enhancers in different types of foods and beverages.
• By Sales Channel, the Direct Sales segment is anticipated to be the most attractive during the forecast period, with estimated market revenue to the tune of about US$ 9.7 Bn by the end of the forecast period in 2027.

Global Herb & Spice Extracts Market: Key Players

The report profiles some of the top companies operating in the global herb and spice extracts market such as Givaudan SA, Kerry Group Plc., Takasago International corporation, Dohler GmbH, Sensient Technologies Corporation, Archer Daniels Midland Company, Ajinomoto Co., Inc., Symrise AG, Firmenich S A, Naturex SA, Kalsec Inc., Olam International, Foodchem International Corporation, McCormick and Company, Inc, Frutarom Industries Ltd., Robertet SA, Synthite Industries Ltd., International Taste Solutions Ltd., Organic Herb Inc., British Pepper & spice Company.

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Key Questions Answered in the Report

How big is herb and spice extract market?

In 2021, herb and spice extract market is valued at US$ 13.87 Bn, and expected to grow at 5.1% CAGR.

What are the leading herb and spice extract companies?

The key players in herb and spice extract market are Givaudan S.A, Kerry Group Plc., Ajinomoto Co., Inc., Robertet SA, Kalsec Inc., Symrise AG, Frutarom Industries Ltd.

 

A new research publication titled “Energy Gel Products Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” by Future Market Insights focusses on various market acumen on developments, trends, key players, growth drivers and forecasts across important regions. A detailed market segmentation is carried out which explores every angle of the energy gel products market.

Awareness based marketing, increased retail shelf visibility, improvement of energy gels, growing demand for combination flavours, rising preference of gels over energy drinks and clean label products are few of the trends observed in the global energy gel market. The growth of the global energy gel market has been impacted by various factors which drive the growth, to name a few, the increasing health awareness which has spurred the consumption of energy drinks and energy gels, rising demand for flavoured energy gels, enhanced overall supply chain, rising demand for beverages, rise in domestic population coupled with high consumer preference for energy gel products, improved retailing, rising expenditure on research and development supported by government initiatives, high demand for premium products, and healthy eating habits with rising per capita income have impacted the global energy gel market in a positive way. However, certain aspects such as high working population which decreases the scope of consumption of energy gel, high competition, fluctuation in input costs, high production costs and improper sync between demand and supply have a restraining effect on the growth of the global energy gel market.

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Global Energy Gel Products Market: Forecast

The global energy gel market is anticipated to grow at a robust rate during the assessment period. The global market is expected to grow at a value CAGR of 7.8% to reach a market evaluation of about US$ 1 Bn in 2027 from an evaluation of US$ 477 Mn in 2017. This market has seen a significant growth path since 2012.

Global Energy Gel Products Market: Key Segmental Highlights          

The global energy gel market is segmented by flavour type (Fruit, Vanilla, Chocolate and others), by distribution channel (supermarket/hypermarket, specialty store, online store, others) and by region (North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa). The fruit flavour type segment has been further sub segmented into orange, strawberry, raspberry and lemon.

• By distribution channel, the specialty stores segment is expected to dominate the global market in terms of high market share. It is expected to grow at a robust growth rate to reflect a value of about US$ 368 Mn by 2027.
• The supermarket/hypermarket segment by distribution channel is expected to grow at the highest growth rate during the forecast period to reflect a high CAGR of 8.7%. This segment stands second to the specialty store segment from market value standpoint and reflects high potential in the coming years
• By flavour type, the fruit segment is anticipated to lead the market with a good CAGR. The chocolate segment is poised to reflect highest CAGR of 8.7% during the period of assessment
• North America region is expected to be the fastest growing regions followed by Western Europe, Latin America and Asia Pacific excluding Japan (APEJ). North America is poised to reflect a high CAGR of 8.5% by value during the period of assessment

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Global Energy Gel Products Market: Competitive Landscape

The global energy gel market research report has included analyses on key players in the market. The companies such as Advanced Food Concepts, Inc.,Nutrition Works Ltd.,Boom Nutrition Inc.,Clif Bar & Company,EN-R-G Foods, LLC, Gatorade Company, Inc.,Hammer Nutrition Ltd.,Powerbar Inc.,Zipvit Ltd., and Scientific Sports Nutrition (Pty) Ltd., are profiled in this research study.

Key Questions Answered in the Report

What is the outlook of the Energy Gel Products Market?

The Energy Gel Products Market is valued at US$ 637 Million in 2021. The market is likely to grow at a CAGR of 7.8% through 2027, reaching US$ 1 Billion.

Which are the leading companies in the Energy Gel Products Market?

Some key players of this market are Nutrition Works Ltd, Clif Bar & Company, EN-R-G Foods, Hammer Nutrition Ltd., Powerbar Inc.

 

Consumers have become increasingly conscious about the environmental damages, which is attributable for the trend of shifting to a vegan protein diet which is more sustainable. Future Market Insights (FMI) in a new study sees this as one of the key factors enabling growth in the hydrolysed vegetable protein market, which is expected to surpass US$ 1.17 Bn by 2021. Hydrolysed vegetable protein has various health benefits which include improving digestion, lowering the rate of heart disease and enhancing the immune system. Such properties of hydrolysed vegetable protein products have been helping them gain traction among consumers who are willing to spend more products such as hydrolysed pea protein foods.

In the last five years, consumers’ preferences have been shifting towards vegetable protein. This also is considered an outcome of them becoming more conscious about their health which has led to rise in the demand for nutritional food products. Coupled with rising health awareness, some of the leading companies have been promoting hydrolysed vegetable protein products’ benefits towards controlling and preventing diseases commonly associated with obesity and cholesterol. Consequently, hydrolysed protein derived from soy, wheat, pea, rice, flax, and other vegetarian sources have been registering sales uptick. Of these, the demand for soy protein is significantly high. FMI has forecast it to account for over 39% of the total market in 2021.

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Key Takeaways from the hydrolysed vegetable protein Market Study

• Hydrolysed vegetable protein market will showcase growth at a positive pace through 2031. It has been forecast to exhibit 5.3% Y-o-Y growth in 2021
• In North America, the U.S. has emerged dominant, accounting for 80.8% share in 2021
• UK will remain a key market, exhibiting 4.1% Y-o-Y growth in 2021
• Germany and France to remain lucrative markets for hydrolysed vegetable protein in Europe
• Healthy growth expected in Japan and South Korea, while dominance in East Asia is likely to remain with China

“Companies operating in the hydrolysed vegetable protein market has been keenly focusing on product development and differentiation to carve a niche amid their respective competitive industries and this will favor overall expansion of the market in the coming years,” said a lead analyst at FMI.

Product Development by Market Players to Spur Growth Opportunities

An increasing number of consumers across the world have been showing inclination towards vegan protein. This has been encouraging companies to invest in new product development based on hydrolysed vegetable protein. The rising demand for sustainable solutions has been paving way for innovation. Besides this, preference towards products with higher shelf-life has emerged as chief driver of innovations within the market. Resultantly, a slew of product launches has been recorded in the last few years, which are expected to aid the overall expansion.

For instance, in 2019, DuPont launched six new hydrolysed vegetable protein nuggets from its SUPRO and TRUPRO product range. These new products offer more protein and less sodium and are is suitable for the manufacturers of snacks, serials, nutrition bar and others. These hydrolysed vegetable protein products include SUPRO soy protein nuggets with cocoa range and TUPRO pea protein nuggets.

Who is winning?

A few of the leading players operating in the Hydrolysed vegetable protein market are Glanbia Plc., Cargill Inc., Kerry Group PLC, DuPont de Nemours, Inc., Tate & Lyle Plc., Fuji Oil Holdings, Inc., The Scoular Company, Wilmar International Limited, AMCO Proteins, Roquette Frères, Puris Proteins LLC, Burcon NutraScience Corporation, Axiom Foods, Inc., Ajinomoto Co., Inc., and others.

The hydrolysed vegetable protein based products market has witnessed rapid growth in the past few years. Surge in the demand for plant-based products has resulted in fierce competition among manufacturers, suppliers, retailers, and food brands. Due to increasing competition, players in the hydrolysed vegetable protein market are compelled to invest, innovate, and introduce new products.

This has resulted in the expansion of hydrolysed vegetable protein portfolio by some of the renowned market players. For instance, Kerry Company’s strategy is to target regions such as Asia, EMEA, and Latin America, for growth via expanding its production footprint and business development with key regional and local players.

To gain more insights into the market with a detailed table of content and figures, click here:  https://www.futuremarketinsights.com/toc/rep-gb-4949

Get Valuable Insights into hydrolysed vegetable protein market 

Future Market Insights, in its new offering, provides an unbiased analysis of the hydrolysed vegetable protein Market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the hydrolysed vegetable protein market based on Product Type (Soy Protein, Wheat Protein, Pea Protein, Rice Protein, Chia Protein, Flax Protein, and Corn Protein), By Form (Chunks, Slices, Flakes, and Granules), By End Users (Household, Commercial, and Industrial) and By Distribution Channel (Direct, Hypermarket/ Supermarket, Convenience Store, Traditional Grocery Retail, Online Retail.) across seven major regions.

 

Future Market Insights (FMI) has published a new report, which is titled, “Oryzenin Market: North America to Dominate the Global Oryzenin Market in Terms of Revenue: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022).” According to the report, oryzenin is a much better alternative as compared to barley, wheat, and rye as it does not lead to any kind of allergies or disorders such as the celiac disease and this is a key factor boosting its demand worldwide. Consumers seeking lactose free and gluten free source of protein are extensively demanding oryzenin, as it is safe and does not cause any disorders relating to digestion. As per FMI, the global oryzenin market will reach an evaluation of US$12 mn by 2022, expanding it robust CAGR of 7.3% between 2017 and 2022

Oryzenin does not cause any of these problems, unlike wheat or barley or rye, and hence it pushes the adoption of oryzenin. Moreover, the rising demand for rice proteins owing to functional properties has contributed towards the growth of the global oryzenin market.

Oryzenin is a type of glutelin/protein which is typically found in seeds of rice. Consumers who are looking for alternatives to non-allergen, lactose free as well as gluten free source of proteins, can look forward to oryzenin as a better alternative. Oryzenin does not cause any kind of disorders with respect to digestion.

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The market for oryzenin is also expected to be boosted by the increasing incidences of gastrointestinal diseases, celiac disease, and irritable bowel syndrome. As the demand for rice protein is increasing on account of its functional properties, the demand for oryzenin will also grow. This is because oryzenin is a glutelin type which is found in the seeds of rice. Some of the other factors impacting the growth of this market include the low cost of producing rice proteins, high protein content, and high gelling properties. All these aforementioned factors are the reasons behind the extensive use of oryzenin in the food and beverage industry. The increasing health awareness, use as an enhancer for boosting nutritional value in food products, and growing use in sports nutrition will spur the growth of this market worldwide.

On the basis of geography, the global oryzenin​ market is segmented into Asia Pacific, Europe, North America, and the Rest of the World. Of these, it is estimated that North America will emerge as the most lucrative regional market for oryzenin and expand at a healthy CAGR of 9% between 2017 and 2022. By product type, it is estimated that the isolate segment will lead in the market and expand at a healthy 8.3% CAGR from 2017 to 2022. This segment is also estimated to gain the highest BPS by the end of the forecast period. The report also states that the concentrates segment will exhibit high growth potential in the years to come and exhibit a remarkable CAGR throughout the forecast period.

On the basis of form, the dry segment is witnessing high growth rate exhibiting an 8.8% CAGR from 2017 to 2022. The drive segment is estimated to gain the highest VPS by the end of the forecast period. On the other hand, the liquid segment holds high share in the market as compared to the dry segment and this trend is estimated to continue for the rest of the office period. On the basis of application, the bakery and confectionery segment has witnessed the highest growth rate for oryzenin, closely followed by the sports and nutrition segment. The sports and nutrition segment is estimated to gain high BPS in the years to come. In fact the sports and nutrition segment is not only leading currently but is estimated to continue to do so in terms of revenue through 2022.

The report profiles leading players within the global oryzenin market for the purpose of study. These players are Kerry Group PLC, Aidp Inc., Shenzhen Beike Biotechnology Co. Ltd., BENEO GmbH, Axiom Foods, Inc., Ribus, Inc., Golden Grain Group Limited, Rice bran Technologies, Inc., Bioway (Xi’An) Organic Ingredients Co., Ltd., and The Green Labs LLC.

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Key Segments Covered

Region

• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA

Product Type

• Isolates
• Concentrates
• Other Type

Application

• Sports & Energy Nutrition
• Beverages
• Bakery & Confectionery
• Meat Analogs & Extenders
• Dairy Alternatives

Function

• Emulsifying
• Texturizing
• Gelling
• Others

Form

• Dry
• Liquid

Key Questions Answered in the Report

What is the size of Oryzenin market?

The oryzenin is valued at US$ 104 Bn in 2021 and this market is set to grow at 7.3% CAGR.

Which are the oryzenin market companies?

Key competitors in oryzenin market are Aidp Inc, BENEO GmbH, Axiom Foods Inc, Ribus, Inc, the Green Labs LLC and Bioway (Xi’An) and Organic Ingredients Co, Ltd.

 

Predominantly driven by considerably high prevalence of lactose intolerance, dairy alternatives continue to witness healthy sales at a global level. Once a niche sector in food industry, dairy alternatives currently represent a US$ 16 Bn market and will possibly witness a strong CAGR during the period of projection, 2019 – 2029.

Dairy alternatives are plant-based foods and beverages that can be used as a healthier alternative to dairy products. Almond milk, soy milk, and rice milk are some of the most popular dairy alternatives around the world. Due to the inclusion of a number of critical vitamins and minerals in dairy products, dairy alternatives are considered to be healthy.

The demand for dairy alternatives is driven by concerns about hormones, pesticides, and antibiotics in the dairy products. The remnants of the aforementioned chemicals are said to be dangerous to consume, particularly by pregnant women. Hormones included in dairy products are thought to trigger and initiate endometrial, prostate, and breast cancer in humans.

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Key Takeaways – Dairy Alternatives Market Study

• There is a wide variety of dairy alternatives manufactured from different sources such as soy, oats, almond, coconut, hemp, and flax. Dairy alternatives are offered in flavored and unflavored variants. This diverse range of options is expected to boost expansion of the market.
• The consumption of unflavored or regular dairy alternatives is higher than that of the flavored variety. However, in the forecast period, the demand for flavored dairy alternatives is anticipated to increase.
• Organic dairy alternatives are gaining traction, especially in developed countries. Organic food consumption is the highest in the U.S., followed by European Union which accounted for retail sales of 45.2 billion and 34.3 billion respectively, in the year 2017.
• Shelf storage of dairy products poses as a big challenge for stakeholders due to fear of spoilage. Dairy alternatives manufacturers launched shelf-stable products with a higher shelf life, which made storage of dairy alternatives economical and easier. This is anticipated to boost sales.
• Among retail outlets, specialty stores account for the highest share in sales of dairy alternatives.

Despite a great deal of opposition from dairy manufacturers, dairy alternatives market is expected to double in the forecast years. Nutrition, taste, easy availability of dairy alternatives, and consumer-centric approach are expected to contribute to this significant growth.

Millennials to Create Opportunity

The main consumers of dairy alternatives are millennials. Millennials show more concern towards animal welfare than any other generation as per consumer survey in 2018 by Comax Flavors, a flavor technology company for food and beverages. Additionally, as per the survey, health benefits are the main reason for which millennials consume dairy alternatives.

To retain and capture interest of millennials in an increasingly intense landscape, manufacturers are increasing their efforts in research and development. Almost all the companies in the dairy alternatives market, which are operating at a global level, are growing at exponential rates in terms of sale. Innovative ingredient and flavour combinations are responsible for the projected high growth rate of the dairy alternatives market.

The ongoing better-for-you and clean label trend is boosting market growth. Though the growth of dairy alternatives market is not expected to decline for the next 10-15 years, constant efforts in innovation and development of effective marketing strategies are a prerequisite for growth in future.

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Know More About Dairy Alternatives Market Report

Future Market Insights, in its new offering, offers an unbiased analysis of the global dairy alternatives market, presenting historical demand data (2014-2018) and forecast statistics for the period from 2019-2029. The study divulges compelling insights on the dairy alternatives market based on the source (soy, almond, rice, coconut, oats, and others), product type (flavoured and unflavoured), nature (organic and conventional), and distribution channel (direct and indirect) across seven major regions.

 

Non fat dry milk, better known as powdered milk have many benefits which has led to the growth of this market across the globe. The shelf life of nonfat dry milk is much more than that of liquid milk and this is also a primary reason, boosting its demand. In addition to this, non fat dry milk thickens food products. Future Market Insights (FMI) has published a new report, which is titled, “Non Fat Dry Milk Market: Asia-Pacific Excluding Japan (APEJ) to Dominate the Global Market in Terms of Revenue: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022). According to the report, the key factor bolstering the growth of this market is the extensive use of nonfat dry milk to prepare meat products, soups, cakes, puddings, as well as many confectioneries.

Organic Valley, a farmer owned dairy co-operative and organic food brand has produced a fat free variety of milk to its grass fed product line. The new fat free glass milk has been launched and supply has been started from January this year. As per the rising demand for non-fat 100% grass fed milk, the company’s line up for grass milk product has grown even further. The company is at the forefront of technologies such as installing robotics milkers, etc.

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Other benefits of non fat dry milk, which are boosting its demand include the fact that it is a cheap source of non fat dairy solids, can be easily transported without many precautions, a good source of functional dairy solids, and can be considered as a temporary replacement for whey proteins. Yet, there are a few drawbacks of using non fat dry milk, that have a negative impact on the growth of the global non nonfat dry milk market. Increasing prices of non fat milk, altering taste, and a loss of original richness are some of the factors that are expected to restrict the growth of this market. . These aspects are hindering the growth of the global nonfat dry milk market.

Non powdered milk is available both in the instant and non instant form. Soups, puddings, and cakes are some of the items in which this type of milk is used. Nonfat dry milk helps retain the thickness of a food item by its rich texture and thus, finds its use in cereals and milk beverages. As per the research report by FMI, the global nonfat dry milk market will reach the figure of US$7.9 bn by 2022 and expand steadily during the period from 2017 to 2022. On the basis of geography, the market is segmented into Asia Pacific except Japan or APEJ, Europe, North America, and the Rest of the World. Of these, it is estimated that the most lucrative market for non fat dry milk market will be APEJ. This region is slated to expand at a 3.8% CAGR from 2017 to 2022. Apart from APEJ, it is expected that North America will also show promising growth opportunities for the non fat dry milk market.

The high heat segment is predicted to lead in the global nonfat dry milk market, by product. This segment showed the highest market share in 2017, and this trend is expected to continue throughout the forecast period as this segment also shows the highest growth rate in the forecast period, that of 4.5% CAGR during the period of 2017 to 2022 and is also predicted to gain a high BPS by the end of 2022.

With respect to growth rate and market share, other retail formats segment also shows high potential. Also, in comparison to the modern trade segment, this segment shows a comparatively high growth rate. This segment is slated to have the highest BPS by the end of 2022 and is expanding at a CAGR of 3.6%.

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Key players within the global non fat dry milk market are profiled in this report for the purpose of study. The business and financial overview of these companies have also been analyzed in the report. Along with this, the information on the various expansion strategies adopted by leading players is given. Some of the key players operating in this market are: SunOpta, Inc., Blue Diamond Growers, Inc., Danone, OATLY A.B, Organic Valley Cropp Cooperative, Eden Foods Inc., The Hain Celestial Group, Inc., and Earth’s Own Food Company Inc.,