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.
New York, July 08, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fermented Plant-Based Alternatives Market - A Global and Regional Analysis: Focus on Applications, Products, Patent Analysis, and Country Analysis - Analysis and Forecast, 2019-2026" - https://www.reportlinker.com/p06103108/?utm_source=GNW
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.
Global Fermented Plant-Based Alternatives Market by Product
Yogurt is produced naturally by fermentation and contains cultures named Lactobacillus Bulgaricus and Streptococcus Thermophilus. However, the trend for plant-based yogurt has been picking up pace from the past few years as consumers are increasingly adopting plant-based foods in their dietary plans.
Plant-based yogurt has registered the highest demand in the market, majorly due to the availability of the product in multiple flavors while also being enriched with beneficial probiotic bacteria. As consumers nowadays are looking for a wide range of options in their foods, the products are expected to achieve significant growth in the coming years.
Global Fermented Plant-Based Alternatives Market by Application
Supermarkets/Hypermarkets emerged as the most preferred purchasing option for fermented plant-based alternatives across the globe.The retail sales of fermented plant-based food and beverages are expected to increase through supermarkets as consumers are increasing, including plant-based food in their everyday dietary plans.
As supermarkets serve the consumer all the everyday needs with multiple options, including plant-based foods, more consumers are inclined toward opting for supermarkets as their buying option.
Global Fermented Plant-Based Alternatives Market by Region
Europe generated the highest revenue of $96.99 million in 2020, which is projected to reach $129.47 million by 2026. The major driver for high demand in Europe is the adoption of plant-based food and beverages in the country as a part of consumer’s diet plans due to growing veganism in the region. It has been estimated by Mintel’s Global New Products Database (GNPD) that 20% of total food launches in the U.K. were vegan in 2020.
Key Market Players and Competition Synopsis
Some of the key companies operating in the market AngelYeast Co., Ltd, Cargill, Incorporated, Chr. Hansen Holding A/S, DuPont, Evonik Industries AG, Yofix Probiotics Ltd., Arla Foods, Danone, Field Roast Foods, General Mills, Inc, Impossible Foods Inc., Nestle, Perfect Day, The Hain Celestial Group, Inc., and Tesco PLC
The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (which holds 50-60% of the market) and mid-segment players (comprise of 30-40% share), and small and emerging companies (holds the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the fermented plant-based alternatives industry.
• North America
• South America
• Middle East and Africa
• Saudi Arabia
• South Africa
• Asia-Pacific and Japan
• South Korea
Read the full report: https://www.reportlinker.com/p06103108/?utm_source=GNW
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