Animal-based products are increasingly taking a backseat, driven by a steady rise in the number of vegans around the globe. Higher levels of awareness about nutrition, health, environment, and animal cruelty, especially among the massive millennial demographic, are driving demand for non-dairy toppings. Despite reduced demand from the foodservice sector, higher demand for convenience and RTE foods, and greater health consciousness among consumers during the COVID-19 pandemic has created opportunities for growth, where the liquid form of non-dairy toppings is most widely used across different sectors.
As per Fact.MR analysis, the Sales of non-dairy toppings reached a valuation of over US$ 1 billion in 2020, and the growth is estimated at close to 8% CAGR through the end of 2031.
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“The global toppings and fillings industry has witnessed consumer transition towards veganism, which has substantially bolstered demand for non-dairy toppings. A significant rise in the European and American vegan population will also contribute to growth,” says a Fact.MR analyst.
The global non-dairy toppings market is still substantially fragmented with the presence of regional players. Leading manufacturers continue to consolidate their position in the industry with efforts towards the expansion of their product portfolios, and exploring newer, high-potential regions.
Apart from these, some other leaders in the non-dairy toppings market include Rich Products Corporation, Puratos, Conagra Brands, Friesland Campina Kievit, Pinnacle Foods Inc., So. Delicious Inc., Schlagfix, Dawn Food Products Inc., and Goodrich Carbohydrates Ltd.
In its latest offering, Fact.MR has provided an unbiased analysis of the global market for non-dairy toppings, with historical data on demand (2016-2020) and expected projections for the period (2021-2031). The report discloses compelling insights into the demand for non-dairy toppings based on base ingredient (soy milk, vegetable oil, almond milk, coconut milk, and others), form (liquid, powder, and frozen), application (bakery, confectionery, processed fruits, frozen desserts, beverages, and others), type (whipped cream, pouring cream, spooning, and others), and distribution channel (direct and indirect), across seven major regions of the world.
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