Non-Dairy Toppings Market Players Contribute Majorly towards Innovative Trends
Posted by Arslan on July 15th, 2019
In order to dissert the market scenario prevailing across the Non-dairy toppings market sector, FactMR has evenly presented a comprehensive Non-dairy toppings market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the Non-dairy toppings market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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Non-dairy toppings remains a fragmented marketplace. However, in spite of a large number of players vying to increase their stronghold in this market, Rich Products Corporation and ConAgra Brands Inc. have been successful in maintaining their strong presence. The prominence of these two companies in the non-dairy toppings market can be analyzed from the fact that collectively, these two account for about one-fourth of the revenue share. North America, particularly the United States, continues to be a key market for these two players – nearly 22%-29% of Rich Products Corporation’s revenues come from North America, whereas the percentage is in the range of 33%-41% for ConAgra Brands Inc.
These Tier 1 companies in the non-dairy toppings market have been focusing mainly on acquisitions and joint ventures to expand and maintain their market presence in the developed economies. Forming alliances across the Asia Pacific and other emerging economies to tap potential growth and profitability also remains a key focus area for these companies. Strong distribution networks are key to market consolidation in the non-dairy toppings market, as hurdles in manufacturing and storage of almond milk have created challenges for players across the spectrum in the past.
Non-Dairy Toppings Market Players Focusing on Consolidating their Position in India
Tier II companies involved in the production of non-dairy toppings are focusing on expanding their global footprint by targeting emerging economies in the Asia Pacific excluding Japan (APEJ), especially India. International non-dairy toppings companies are acquiring shares in Indian food companies to expand their business activities in India. Being a land of heteregenous demographic, the country is expected to offer potential growth avenues for dairy alternatives such as non-dairy toppings in the forthcoming years. Against this backdrop, Tier II players are establishing new plants in the country to grasp healthy opportunities with respect to demand and sales of non-dairy toppings. For instance, ConAgra Brands Inc., has become a majority owner of India-based food company – ATFL (Agro Tech Foods Limited). Expanding international business being a major strategic plan of ConAgra, the company is looking forward to work and support ATFL in expanding business operations as well as maintain investment in the country. Likewise, Rich Products Corporation has opened a new plant in North India to produce frozen non-dairy toppings, leveraging the country’s attractiveness in the food and beverage industry. The company had initiated a joint venture with Graviss Group of Mumbai to form Rich Graviss to manage operations in India.
Rising Veganism Trend Likely to Boost Demand for Non-Dairy Toppings
The increasing demand for vegan food products have fuelled the demand for non-dairy toppings across the globe. Millennials being the central drivers, the trend of increasing preference towards non-dairy toppings across developed and emerging economies is expected to drive the non-dairy toppings market growth. According to Good Food Institute and PBFA (Plant Based Foods Association), the sale of plant-based products rose by 8.1% in 2017 in the United States, consequently presenting potential avenues for non-dairy toppings producers. The growing veganism trend is not limited to developed countries alone – China is quickly emerging as a lucrative market for vegan products.
Non-Dairy Toppings Emerge as a Viable Culinary Option for Lactose Intolerant Demographic
Significant rise in lactose intolerant population is expected to drive the demand for plant-based food products such as non-dairy toppings. According to NIDDK (National Institute of Diabetes and Digestive and Kidney Diseases), about 68% of the global population is facing lactose malabsorption leading to lactose intolerance. Growing lactose intolerance has triggered demand for lactose free products such as non-dairy toppings, in turn fueling their adoption at a significant pace.
Adoption of UHT Technology Gaining Ground among Manufacturers
Apart from nutritional benefits, the demand for non-dairy toppings is also influenced by their production methods. Producers of non-dairy toppings are adopting UHT (Ultra High Temperature) technology. UHT provides non-dairy toppings, especially whipped creams, with higher stability, prevents syneresis and enhanced fat reduction. Moreover, non-dairy toppings produced from UHT do not curdle and can be combined with any color or flavors. Benefits of UHT-processed non-dairy toppings are likely to impact growth of the non-dairy toppings market during the forecast period.
The non-dairy toppings market report covers analysis on various key players involved in the production and distribution of non-dairy toppings across the globe. Profiles of key companies such as ConAgra Brands Inc., FrieslandCampina Kievit, and Puratos NV have been included in the competitive landscape section of the report. Key facets including growth strategies, financials, product portfolios, innovations and developments and overall SWOT of these companies is covered here.
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About the AuthorArslan
Joined: December 18th, 2017
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