Dairy products and alternatives is set to grow over the forecast period, driven by demand for health benefits and value for money options. Rising global prices are making consumers more cost-sensitive, boosting discounters. E-commerce is growing rapidly, supported by improved cold chain logistics. Retailers are also expanding private label to meet demand for affordable, quality dairy alternatives.
This report comes in PPT.
Small local grocers have experienced an important boost in their performances. Offline retail has been driven by convenience and comfort, and growth has been particularly evident in emerging economies.
Mainly driven by the baby food category, the retail e-commerce channel has been able to maintain double-digit growth rates in the dairy products and alternatives industry, despite the slowdown it has experienced after its peak during the pandemic.
Producers are continuously innovating and improving their sustainability long-term credentials, mostly based on carbon neutrality and food waste. Moreover, health awareness is a trend that has consolidated as a key factor when choosing dairy products, mostly driven by functionality.
The world has been experiencing increasing price levels and, as a consequence, consumers have become increasingly price sensitive. This situation has created an interesting landscape for discounters, as they offer consumers a more affordable portfolio of products.
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