Non-dairy toppings producers continue to invest in product innovation and product launches to support growth prospects in the post coronavirus era.
ROCKVILLE, MD / ACCESSWIRE / July 1, 2020 / Following the coronavirus outbreak, the demand for processed, packaged foods is on the rise. In addition, the designation of food businesses as essential, by regulatory bodies which aid in the operations of the non-dairy toppings market. The growing trend of veganism coupled with issues of supply chain in the dairy industry during the crisis period is generating new opportunities in the non-dairy toppings market.
The global non-dairy topping market is expected to reach a value of US$ 2 billion throughout the projection period between 2020 and 2030. As per the Fact.MR report, the temporary suspension of food service businesses is restricting sales and revenue. However, the demand for non-dairy toppings products is set to steadily rise as restrictions on the food service industry is relaxed.
"The non-dairy toppings industry is anticipated to expand substantially in the near future, driven by consumer demand for plant-derived dairy alternatives. Growing consumer awareness on health and fitness, and higher disposable incomes are key to market developments. Manufacturers are providing superior quality, new flavors, and aesthetically pleasing packaging, which will positively impact the industry in the short term," says the FACT.MR study.
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Non-Dairy Toppings Market- Key Takeaways
- Soy milk is a highly sought-after base for non-dairy topping products owing to balanced nutrient profile.
- Almond milk is rapidly gaining popularity, especially in low calorie, weight management product applications.
- Non-dairy whipped cream contributes substantially to market revenue, owing to strong demand from bakery industry.
- Specialty stores and e-commerce are key distribution channels for non-dairy toppings, owing to transition in consumer bias.
- Asia Pacific followed by North America are the major markets for non-dairy toppings, owing to large populations, cases of lactose intolerance, and demand for plant-based dairy alternatives.
Non-Dairy Toppings Market- Driving Factors
- Rising consumer preference for high-protein, low calorie products in dairy alternative products aids sales of non-dairy toppings.
- Higher profitability from plant derived sources, compared to dairy-based variants aids market growth.
- Growth of the veganism trend, coupled with animal rights concerns support adoption of non-dairy toppings.
- Favorable government policies towards agriculture businesses generate key opportunities.
Non-Dairy Toppings Market- Key Restraints
- High fragmentation of the non-dairy toppings market reduces the scope for profits for producers.
- Fluctuations of raw material prices is a major obstacle to non-dairy toppings manufacturers.
COVID-19 Impact on Non-Dairy Toppings Market
Increased consumer spending towards essential commodities is expected to hurt the sales of non-dairy toppings through 2020. Further, the closure of commercial food service business is also affecting demand negatively. However, continued demand for processed and packaged food during the crisis period will help to sustain sales in non-commercial settings. Optimization of supply chains will remain essential to business strategies in the industry. Sales are revenue are likely to pickup once more towards the end of 2020, as pandemic restrictions are relaxed.
Explore the global non-dairy toppings market with 445 figures, 248 data tables, along with the table of contents of the report. You can also find detailed segmentation on
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Competitive Landscape
The non-dairy toppings market is largely fragmented. Leading market participants are emphasizing on product innovation to expand their presence, particularly in emerging economies. Developments in manufacturing technologies and nutrition are also gaining traction. For example, Puratos has developed a range of non-dairy topping products made with UHT tech, which are free from TFA and cholesterol.
Hain Celestial Group Inc., ADM Company, Freedom Foods Group Ltd., Vitsoy International Holding Ltd., Blue Diamond Growers Inc., Kelco., OATLY AB, WhiteWave Foods Company, Eden Foods Inc., Daiya Foods Inc., and Nutriops S.L. are some of the major non-dairy toppings manufacturers.
About the Report
This study offers readers a comprehensive market forecast of the non-dairy toppings market. Global, regional and country-level analysis of the latest industry trends impacting the non-dairy toppings market is covered in this FACT.MR study. The report offers insights on the non-dairy toppings market on the basis of base ingredient (soy milk, vegetable oil, almond milk, coconut milk, and others), form (liquid, powder, and frozen) application (bakery, confectionary, processed fruits, frozen dessert, beverages, and others), type (whip cream, pouring cream, spooning, and others) and distribution channel (direct and indirect) across seven regions (North America, Latin America, Western Europe, Eastern Europe, Japan, APEJ, and MEA).
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Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the food & beverages sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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SOURCE: Fact.MR
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