5 Trends to Watch 2024: Dairy Alternatives
In the dairy alternatives segment, we expect to see a greater focus on ingredients and health claims this year. Taste and cost concerns will continue as consumers want cheaper options in this inflated market.
Check Out Our 5 Trends to Watch in 2024 Featuring Dairy Alternatives:
1. Non-Dairy Cheese Growth
With a CAGR of 28.8% (2021-2023F, US), the non-dairy cheese segment is expected to still have strong growth. However, according to Innova Market Insights, the NPD is now declining as the category is saturated. This trend is likely to continue as companies focus on marketing existing products.
2. Growing Health Claims
New on-pack claims in the non-dairy space predict further consumer scrutiny of ingredients and nutritional content of these products. Palm oil-free, HFCS free along with a high source of protein or fiber are among the fastest-growing claims.
3. Animal Rights is Not the Leading Claim
While animal rights is certainly a consumer motivator toward plant-based dairy products, sustainability and health continue to drive the majority of purchasing habits, especially for flexitarians.
4. Taste & Cost Concerns Persist
Innova Market Insights found that 1 in 3 consumers globally would like to see cheaper options in dairy alternative options (32%) while most consumers want to see improvement in taste and flavor (27%).
5. Animal-Free Dairy
Perfect Day and other companies are making non-animal dairy products available. Consumer acceptance is largely untested and there may be additional regulatory and manufacturing capacity challenges in getting some of these breakthrough innovations across the line.
Consumers continue to tell the industry they want improvements in taste and flavor when it comes to dairy alternatives. At Synergy, we know authenticity is key, and as part of the Carbery group, we have unrivaled knowledge when it comes to creating dairy flavors and working with dairy market products.
Contact us to learn how we leverage our dairy heritage to create authentic flavors to create dairy alternative products that consumers love.insights