Dairy products are a type of food which is mainly produced from or containing the milk of mammals. On the other hand, soy foods are a dairy-free product that includes soy milk, soy cheese, etc. Non-dairy milk alternative represents the milk substitute for people suffering from milk intolerance and allergy. Naturally occurring ingredients from soy can interfere with the body’s ability to absorb iron, calcium, and iodine. The Asia Pacific is forecasted to be the largest region for the growth of the dairy & soy market owing to the growing population coupled with improving the economy of developing countries such as China and India.This growth is primarily driven by Growing consumer desire to boost nutritional intake of nutrients such as calcium and protein as well as micronutrients such as vitamins and minerals available naturally in dairy products is driving demand for dairy & soy food with health & wellness attributes. and Continued Urbanization and Changing Consumption Patterns towards Westernized Foods.
Globally, a noticeable market trend is evident Demand for Protein-Based Milk Products, Cheese and Yoghurt owing to Prevention of Metabolic Syndrome and Diabetes
. Major Vendors, such as Valio Oy (Finland), PepsiCo (United States), Danone (France), Gujarat Cooperative Milk Marketing Federation Ltd. (India), Molvest (Russia), Inner Mongolia Mengniu Dairy Industry Co Ltd. (China), Hochland AG (Germany), Wimm-Bill-Dann JSC (Russia), Groupe Lactalis (France) and Mother Dairy Fruit & Vegetable Pvt. Ltd. (India) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On September 1, 2019, The Osuuskunta Maitosuomi co-operative, a part of the Valio Group begins its operation upon the merger of the Osuuskunta ItäMaito and Maitosuomi co-operatives.
Regulatory Insights:The Soy Foods Association of America recommends that all manufacturers and marketers of soymilk and soymilk products comply with the standards for such products. The FDA has concerns that the labeling of some plant-based products may lead consumers to believe that those products have the same key nutritional attributes as dairy products, even though these products can vary widely in their nutritional content.
- Growing consumer desire to boost nutritional intake of nutrients such as calcium and protein as well as micronutrients such as vitamins and minerals available naturally in dairy products is driving demand for dairy & soy food with health & wellness attributes.
- Continued Urbanization and Changing Consumption Patterns towards Westernized Foods
- Demand for Protein-Based Milk Products, Cheese and Yoghurt owing to Prevention of Metabolic Syndrome and Diabetes
- Plant-Based Product, by the Emergence of the ‘Flexitarian’ Consumer as well as Increased Numbers of Vegetarians and Vegans
- Diets such as Palaeolithic Diet and Vegan, Restrict the Intake of Dairy Products
- Poor Cold Storage Infrastructure
- Saturated Consumption Levels Due To the Rise in Veganism and Concerns about Animal Welfare
OpportunitiesSales of Soymilk & Soy Drinks with Health & Wellness Claims and Demand for Products with 'All Natural' Claims as Consumers Perceive Natural and Organic Products to Be Better In Quality
ChallengesIncreasing Complexity of Dairy Production and Distribution, Constantly Changing Consumption Demand and Improved Safety and Quality
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