5/19/2023 0 Comments Outlook businessThe consumers preferred plant-based milk products owing to their benefits of longer shelf-life with enhanced texture and creaminess. The pandemic created a paradigm shift making individuals opt for secure food options which leaned towards more eco-friendly and locally sourced ingredients. Since the rapid changes in consumers' food-related buying behavior amidst the global outbreak, the popularity of veganism has been increasing. The COVID-19 pandemic positively impacted the global plant-based milk beverage market. Impact of COVID-19 on the Global Plant-Based Milk Beverage Market A global survey involving more than 8,500 participants across 100 countries was conducted by the plant-based dieting application Veggly, around 89% of respondents opted for veganism for animal welfare concerns. Nowadays, consumers are aware of animal welfare due to ethical beliefs and cruelty towards them, thus, they opt for non-dairy products. Since consumers opt for convenient food and beverage options, the ready-to-drink plant-based milk segment is gaining enormous popularity, which helps boost the plant-based milk beverage market. Furthermore, plant-based milk companies are adding value to their products by innovating novel packaging options, such as carton packs that can be directly microwaveable. According to the study by the Vegetarian Times, an American publication promoting veganism, in 2022, more than 9.7 million Americans are following a vegan diet. The chart of veganism's popularity is exhibiting a positive shift from left to right over the past several years. The plant-based milk market is gaining momentum due to a shift in consumers eating patterns and changes in diet as it provides people with an excellent choice of dairy-free, gluten-free options. People seeking healthier and more nutritious lifestyles also prefer dairy alternative milk beverages due to calorie concerns and the prevalence of hypercholesterolemia. The increasing lactose- intolerance among individuals forces them to shift towards non-dairy milk beverages. Several factors drive growth and innovation in the alternative dairy market. Plant-based milk is emerging as the leading segment in the functional beverages category.
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