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Growth in consumer preference for a vegan diet is a significant factor driving global animal-free dairy products market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, November 4, 2022 /EINPresswire.com/ -- The global animal-free dairy products market size is expected to reach USD 60.24 Billion at a steady revenue CAGR of 10.4% in 2030, according to the latest analysis by Emergen Research. Growth in consumer preference for a vegan diet can be attributed to the steady market revenue growth of animal-free dairy products. In a Global Consumer Survey on diets and nutrition in the United States in 2022, about 5% of respondents identified as vegan. In 2016, 2019, and 2020, The Vegetarian Resource Group and The Harris Poll performed an online survey, and the results showed that 3% of respondents were Americans who were vegans. According to research, the proportion of Americans who identify as vegan increased by 600% between 2014 and 2017, from 1% to 6%. Even though that is a relatively small fraction of the total, other data show that customers who do not identify as vegetarians or vegans are becoming more interested in plant-based diets. Hence, the growth in consumer preference for a vegan diet is leading to a rise in demand for animal-free dairy products, which is in turn driving revenue growth of the market.

To help users, readers, and investors understand the market scenario precisely, Emergen Research has published a new report on the global animal free dairy products market. The report explains current and emerging market trends. In addition to market share, revenue growth, market size, drivers, restraints, growth opportunities, limitations, top companies and market segmentation, the report also offers in-depth information about market segments, drivers, restraints, growth opportunities, and limitations. A thorough primary and secondary research process was undertaken to compile the report, which is verified by industry experts. The 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 rising demand for vegan ice creams and novelties. As there is rising demand for these products, many key market players are launching new vegan ice cream and novelty products. For instance, Wicked Cuisine Inc., Edina, Minnesota, expanded its Wicked Kitchen brand to include plant-based ice creams 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, Berry White Sticks, and Chocolate & Red Berry Cones are three brand-new novelties. 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, carry pints and hand-held stick and cone novelties from Wicked Kitchen.

Global animal free dairy products Market Highlights:

Regional demand estimation and forecast

Product Mix Matrix

R&D Analysis

Cost-Benefit Analysis

Pre-commodity pricing volatility

Supply chain optimization analysis

Technological updates analysis

Raw Material Sourcing Strategy

Competitive Analysis

Mergers & Acquisitions

Location Quotients Analysis

Carbon Footprint Analysis

Patent Analysis

Vendor Management
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Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global animal free dairy products market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global animal free dairy products market and pinpoint the fundamental growth trends.  

Key Parameters Analyzed in This Section:

Company Profiles

Gross Revenue

Profit margins

Product sales trends

Product pricing

Industry Analysis

Sales & 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.

Regional Segmentation:

North America

Latin America

Europe

Middle East & Africa

Asia Pacific
Emergen Research has segmented the global animal-free dairy products market on the basis of source, formulation, products, distribution channel:

Source Outlook (Revenue, USD Million; 2019–2030)

Soy

Almond

Coconut

Other Sources

Formulation Outlook (Revenue, USD Million; 2019–2030)

Flavored

Plain

Products Outlook (Revenue, USD Million; 2019–2030)

Milk

Ice-Cream

Yogurt

Other Products

Distribution Channel Outlook (Revenue, USD Million; 2019–2030)

Supermarkets

Health food Stores

Pharmacies

Other Distribution Channels

Report Highlights:

Besides offering a vivid depiction of the global animal free dairy products business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.

The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2030). 

The report scrutinizes the salient factors influencing the growth of the market in the near future.

The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.

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Thank you for reading our report. If you have any requests for customization of the latest report, kindly get in touch with us. Our team will assist you and ensure the report is designed as per your requirements.

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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