The study states the increasing interest in veganism among athletes as well as consumers is among the primary driving forces for the global market for plant-based milk products. Consumers are consciously avoiding animal-based products that contain additives and chemical-based preservatives. Thereby, demand for plant-based substitutes and dairy alternatives is continually on the rise, highlights the ResearchMoz report.
Consumers Switch to Plant-based Milk for Additional Health Benefits
The world is seeing a constant rise in the prevalence of health conditions like gluten allergies and lactose intolerance. Individuals with such health disorders have already resorted to plant-based milk products. However, healthy consumers are also showing interest in making a shift from animal-based products and conventional dairy products to plant-based food items and beverages.
Taking this into consideration, manufacturers in the plant-based milk market are introducing products with enhanced nutritional profiles. It is becoming among their primary strategies to launch plant-based milk products with high protein content, less sugar and fat, and more amounts of other nutrients such as calcium, iron, potassium, and vitamins B and D, states the study.
Premium, Organic Plant-based Milk Shows High Sales Potential
The ResearchMoz study thoroughly analyzes macro-and microeconomic factors as well as business elements to launch lucrative strategy points for stakeholders in the plant-based milk market. The study states that the consumer demand for premium, organic products in speciality stores is significantly high. The high purchasing power of consumers and their willingness to pay extra for health-benefiting products is mainly attributed to this trend in the plant-based milk market.
ResearchMoz also projects that the sales of organic, premium plant-based milk products are expected to increase at a CAGR of more than 10% during the assessment period of the study. Manufacturers in the plant-based milk market must capitalize on this trend by marketing the additional health benefits to the right consumer base and consciously distinguish themselves from conventional, private labels.
Competitive Landscape
ResearchMoz studies the competitive landscape of the global plant-based milk market to analyze company profiles, financial information, strategic developments, and other competitive data. This study covers leading market players including Döhler GmbH, Groupe Danone, Oatly AB, Califia Farms, Hain Celestial Group Inc., Elden Foods Inc., Alpina Foods, Blue Diamond Growers Inc., Natura Foods, Kaslink Foods Oy Ltd., Organic Valley, Living Harvest Foods Inc., Earth’s Own Food Company Inc., Campbell Soup Company, Liwayway Holdings Company Limited, Goya Foods, Mc Cormick & Co., Nutriops SL, Elmhurst Milked Direct LLC, Pacific Foods of Oregon, Inc., Freedom Foods Group Ltd, and others.
Read More: https://www.beetribune.com/plant-based-milk-market-revenue/
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