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Global Fermented Plant-Based Alternatives Market Overview Upto 2026 | BIS Research
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.
By: BIS Research
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The global food and beverage industry has been evolving as more and more consumers are shifting toward plant-based options or vegan diets. Veganism is the practice of abstaining from the use of animal products, particularly in diet. A vegan diet plan consists of plant-based foods and beverages such as eggs, meat, milk, and various other bakery and confectionery products.
Fermented plant-based dairy alternatives emerged as the largest segment in the global fermented plant-based alternatives market, majorly led by yogurt. A large number of consumers across the globe have been picking lactose-free and dairy-free food and beverages due to rising food allergies and diseases among consumers. It has been found that over two-thirds of the global population have lactose intolerance;
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The industry rivalry in the market is intense due to the presence of multiple established brands in the market, such as Nestle, Danone, Dupont, and CHR Hansen. The competition in the market is high as the companies are highly focused on launching new products and adopting other strategies to strengthen their market presence. For instance, in 2020, Stonyfield Farm, Inc. launched a daily probiotic plant-based yogurt drink in pomegranate, blueberry, and strawberry flavors in North America. Furthermore, in June 2021, Nestlé launched new pea-based milk as the plant-based dairy alternative for milk which is made from yellow peas.