Growth in consumer preference for vegan diet is a major driver of revenue growth in the global animal-free dairy market
VANCOUVER, BRITISH COLUMBIA, CANADA, November 4, 2022 /EINPresswire.com/ — The Global animal-free dairy market The size is expected to reach USD 60.24 billion with a stable revenue CAGR of 10.4% in 2030, according to the latest analysis from Emergen Research. The growth in consumer preference for a vegan diet can be attributed to the steady growth in revenue from the animal-free dairy market. In a global consumer survey of diets and nutrition in the United States in 2022, about 5% of respondents identified themselves as vegans. In 2016, 2019, and 2020, The Vegetarian Resource Group and The Harris Poll conducted an online survey, and the results showed that 3% of respondents were vegan Americans. According to research, the proportion of Americans who identify as vegan increased by 600% between 2014 and 2017, from 1% to 6%. Although this is a relatively small fraction of the total, other data shows that customers who do not identify as vegetarians or vegans are increasingly interested in plant-based diets. Hence, growing consumer preference for vegan diet is leading to increase in demand for animal-free dairy products, which in turn is driving the market revenue growth.
To help users, readers, and investors precisely understand the market scenario, Emergen Research has released a new report on the Global Animal-Free Dairy Market. The report explains current and emerging market trends. Besides market share, revenue growth, market size, drivers, restraints, growth opportunities, limitations, major companies and market segmentation, the report also offers detailed information about the segments of market, drivers, restraints, growth opportunities and limitations. An extensive primary and secondary research process was undertaken to compile the report, which is verified by industry experts. Data is well represented with the use of charts, graphs, tables, figures and other pictorial elements.
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A recent trend in the market is the growing demand for vegan ice cream and novelties. As the demand for these products increases, many key players in the market are launching new vegan ice creams and products. For example, Wicked Cuisine Inc., Edina, Minnesota, has expanded its Wicked Kitchen brand to include plant-based ice cream and novelty items in addition to its extensive line of plant-based foods. Pint-sized ice creams in the following flavors are available: Vanilla, Chocolate, Mint Chocolate Chip, and Cookie Dough. Chocolate Almond Sticks, White Berry Sticks, and Chocolate Red Berry Cones are three new additions. Currently 2,200 Kroger stores and its other store banners, such as City Market, Dillons, Foods Co, Fred Meyer, Fry’s, Gerbes, Jay C Food Store, King Soopers, Mariano’s, Metro Market, Pay-Less Super Markets, Pickn Save, QFC, Ralphs, Ruler, and Smith’s Food and Drug offer pints and novelties in stick and hand cone shapes from Wicked Kitchen.
Global Animal-Free Dairy Market Highlights:
Estimating and forecasting regional demand
Product mix matrix
Price volatility ahead of commodities
Supply Chain Optimization Analysis
Analysis of technological updates
Raw Material Sourcing Strategy
Mergers and Acquisitions
Location quotient analysis
Carbon footprint analysis
Management of suppliers
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The latest study provides an insightful analysis of the vast competitive landscape of the Global Animal-Free Dairy Products Market, with a focus on the leading market rivals and their company profiles. A wide range of strategic initiatives, such as new business deals, mergers and acquisitions, collaborations, joint ventures, technology upgrades, and recent product launches, undertaken by these companies have been discussed in the report. The report analyzes various elements of the competitive scenario of the market such as regulatory standards and policies implemented in the industry over the past few years. Our team of experts has relied on several powerful analytical tools such as Porter’s Five Forces analysis and SWOT analysis to provide a comprehensive overview of the global animal-free dairy products market and identify trends fundamental growth.
Key parameters analyzed in this section:
Product Sales Trends
Sales and distribution channels
Some major companies in the global market report include Danone North America Public Benefit Corporation, The Hain Celestial Group, Inc., Blue Diamond Growers, SunOpta, Freedom Foods Group Limited, Sanitarium, Eden Foods, Tomorrow Farms, Earth’s Own, Perfect Day, Inc.
Middle East and Africa
Emergen Research has segmented the global animal-free dairy market on the basis of source, formulation, products, and distribution channel:
Source Outlook (Revenue, USD Million; 2019-2030)
Formulation Outlook (Revenue, USD Million; 2019-2030)
Product Outlook (Revenue, USD Million; 2019-2030)
Distribution Channel Outlook (Revenue, USD Million; 2019-2030)
Health food stores
Other distribution channels
Along with offering a vivid description of the global Animal-Free Dairy Products business sphere and its fundamental operations, the latest report provides industry chain analysis and lists down current and future market trends and growth opportunities.
The report includes information on current and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2030).
The report discusses the major factors influencing the growth of the market in the near future.
Strategic marketing recommendations, crucial information related to new market entrants and expansion plans of various companies are poised to provide the reader with a competitive edge in the market.
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