Fermented Plant-Based Alternatives Market - A Global and Regional Analysis: Focus on Applications, Products, Patent Analysis, and Country Analysis - Analysis and Forecast, 2019-2026

Report Highlights

Global Fermented Plant-Based Alternatives Market to Reach $422.26 Million by 2026 .

Market Report Coverage - Fermented Plant-Based Alternatives

Market Segmentation

• Application: Supermarkets/Hypermarkets, Online, Convenience Stores, and Specialty Stores
• Product: Fermented Plant-Based Dairy (Milk, Cheese, Yogurt, and Others), Fermented Plant-Based Pickles & Vegetables (Cucumber Pickles, Kimchi, Olives, and Others), Fermented Plant-Based Sauces & Seasonings (Soy Sauce, Gochujang, and Others), Fermented Plant-Based Bakery, and Fermented Plant-Based Meat

Regional Segmentation

• North America: U.S., Canada, and Mexico
• South America: Brazil
• Europe: Germany, France, and Spain
• China
• U.K.
• Middle East and Africa: Saudi Arabia, U.A.E., and South Africa
• Asia-Pacific: Japan, Australia, India, and South Korea

Market Growth Drivers

• Increasing Adoption of Sustainable Diet
• Escalating Lactose Intolerance and Milk Allergies among Consumers
• Changing Dietary Patterns (such as Veganism and Flexitarianism)

Market Challenges

• Getting the Right Texture and Taste
• Ensuring a Healthy Nutritional Profile

Market Opportunities

• Investment in Fermented Plant-Based Yogurt
• Growing Demand of Plant-Based Meat

Key Companies Profiled

AngelYeast Co., Ltd, Cargill, Incorporated, Chr. Hansen Holding A/S, DuPont, Evonik Industries AG, Yofix Probiotics Ltd., Arla Foods, Danone, Field Roast Foods, General Mills, Inc, Impossible Foods Inc., Nestle, Perfect Day, The Hain Celestial Group, Inc., and Tesco PLC

How This Report Can Add Value

Product/Innovation Strategy

The segment gives a brief overview of the product portfolio of several fermented plant-based alternatives and the new launches and innovations in the market pertaining to these products. For instance, in February 2021, Halsa Foods expanded its product line in the U.S. with the launch of an unsweetened sugar oat milk yogurt alternative. The company has also introduced new organic vanilla oat milk yogurt made with vanilla extract and apple juice.

The section also gives a brief overview of the market status of different applications of the product and key players offering products in those applications.

Supermarkets/hypermarkets have the largest market share in the segment attributed to the presence of various brands and variety in the place. Moreover, supermarkets are consumer friendly as they allow discounts and offers for large shopping bills as well as on specific products, which attracts more consumer attention.

Growth/Marketing Strategy

The fermented plant-based alternatives manufacturers have opted for various development strategies to gain more market share and a competitive edge over other player. Partnerships and collaborations are the most common strategy adopted by companies in the time period January 2018-June 2021.

New product launches and innovations are also prevalent in the market as the demand for plant-based food items is on the rise, and more companies are keen to introduce plant-based alternatives to their product portfolio. For instance, in July 2020, Danone launched its plant based Actimet yogurt drink range, which is produced by using roasted oats and almonds.

Key questions answered in the Report

• What are the current trends in the global fermented plant-based food industry?
• How does the introduction of fermented plant-based alternatives impact the global plant-based food and beverage market?
• What is the growth prospect of fermented plant-based food alternatives in Asia-Pacific?
• Can the vegan trend drive the future of the fermented plant-based food market?
• How is the role of governments regarding food safety issues and changing the landscape of the fermented plant-based alternatives industry?
• Which food type is expected to lead the fermented plant-based alternatives market by 2026?
• What was the market value of the leading segments and sub-segments of the market in 2020, and how is the market estimated to grow during the forecast period 2021-2026?
• How is the industry expected to evolve during the forecast period 2021-2026?
• What are the key developmental strategies implemented by the key players to sustain in the competitive market?
• What are the key growth regions in the fermented plant-based alternatives market?

Global Fermented Plant-Based Alternatives Market

Fermentation of food is an ancient technique developed for the preservation of food products. Fermented foods are also considered as the first type of “processed food” that in the process improve taste as well as the shelf life of food products. Fermented food products were discovered in the early ages. For instance, yogurt was created by Neolithic herdsmen in Central Asia around 6,000 B.C. No artificial cultures were discovered at that time, and hence, people were using natural enzymes to ferment the milk for the production of yogurt. The process was carried out in traditional containers, which had natural enzymes in themselves.

However, fermentation technology has picked up pace and has been witnessing huge growth due to growing consumer awareness for health concerns. Currently, manufacturers of fermented food products are using multiple techniques to produce fermented foods such as lactic acid fermentation, ethanol fermentation, and acetic acid fermentation. Now manufacturers use different types of yeast and bacteria to ensure the right texture and taste of dairy, bakery, meat, and other product categories. For instance, yogurt is produced by fermentation of milk from bacterial cultures such as Streptococcus Thermophilus and Lactobacillus Bulgaricus.

Impact of COVID-19 on Global Fermented Plant-Based Alternatives Market

The COVID-19 outbreak has boosted consumer interest in functional foods to boost immunity and stress management. However, buying behavior of consumers are impacted by the ongoing crises as more consumers are moving toward the online purchase of food products rather than from supermarkets and departmental store.

Global Fermented Plant-Based Alternatives Industry Overview

The global fermented plant-based alternatives market is expected to reach $422.26 million by 2026, with a CAGR of 5.0% from 2021 to 2026. The major factors uplifting the growth of the market are the increasing trend of veganism across the globe coupled with escalating health issues among individuals. Food allergies have also been rising among consumers due to the intake of dairy-based products caused by the reaction of protein present in milk and other dairy products with the body’s immune system. As fermentation can make the body immune to any negative reaction from dairy products, these products are gaining more attention from consumers.

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, such as Nestle, Perfect Day, Danone, Tesco, and DuPont. The segment also provides details about the competitive strength of the key players operating in the market. For instance, Nestle is a food and beverage company that operates through more than 2000 brands in 186 countries across the globe. The company offers multiple products in its food and beverages portfolio, such as baby food, bottled water, chocolate, and confectionery products. Nestle also has a diverse product offering in plant-based food and beverages such as vegan alternatives to tuna fish named Vuna, plant-based mill protein, creams, and many such products.