Dairy and Dairy Alternative Demand Spaces - Top Trends and Industry Insights

Dairy and Dairy Alternative Demand Spaces - Top Trends and Industry Insights

Summary

This report is part of a series on the top trends and key demand spaces for consumers sectors to focus on in 2024. It explains how and why these trends are happening using GlobalData's TrendSights and demand space analytical frameworks. The report identifies the consumer sentiment, market development, innovation landscape, and brand actions happening within each trend.

Top trends in dairy and alternatives for 2024 are heavily focused on concepts around health, affordability, and trust and reliability. Brands are also looking to cater to complex consumer demands through more high-tech formulations and refocused marketing that elevates the brand and product story. External pressures such as inflation and stricter regulation are driving much of the change behind these trends.

Scope

• Health trends in dairy are becoming much more sophisticated as consumer increasingly expect specialist nutritional benefits as standard.
• Product innovation is focusing on how to balances consumer's health and wellness needs with time and money constraints.
• Despite rising prices consumers are unwilling to compromise quality in dairy, making investments into high-performing, advanced formulations worthwhile.
• Historically there has been low consumer engagement with dairy marketing, but brands are now taking a more careful considered approach to better target different demographics, handle ESG issues, and elevate product experiences.

Reasons to Buy

• Understand and identify how to leverage the top trends in dairy and alternatives in 2024.
• Gain insight into how competitors and the innovation landscape are responding to this trend.
• Access valuable strategic take-outs to help direct future decision-making and inform new product and service development.