LONDON--(BUSINESS WIRE)--The global food and beverage industry is currently experiencing increased demand for a wide variety of non-staple products, ranging from desserts and sweets to protein and health foods. Demand for these products is particularly high in the US and other parts of North America. Details on this demand are some of this week’s top stories on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to discover high quality leads, contact prospects, and source quotes in real time.
Increasing demand for plant-based protein worldwide
The availability and popularity of non-meat and non-dairy protein options is increasing in response to a greater number of consumers adopting vegan, vegetarian, or dairy-free diets. Demand is also being driven by the growing health and fitness industry, prompting vendors to offer plant-based protein bars, drinks, and powders.
Soy protein, wheat protein, and pea protein are the three most popular forms of plant protein currently available in the global market. The global market for soy protein alone is expected to grow at a rate of more than 10% over the next four years.
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Ice cream industry undergoing continuous transformation
The global ice cream market is expected to grow at a CAGR of almost 5% over the next 4 years, with especially high contributions and growth seen in the Americas and the APAC region. One of the main causes of this growth is the industry’s tendency towards innovation and new product launches in order to appeal to a wide consumer base.
Functional ice cream, premium ice cream, and vegan or dairy-free ice cream are major recent developments for the global ice cream market. Consistent demand from the Americas, thanks to seasonal food-based traditions, is also helping this market to thrive.
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Beer is the most popular alcoholic beverage in the US
Beer continues to dominate the alcoholic drinks market in the US, and is expected to reach a value exceeding USD 116 billion over the next four years. The increasing popularity of craft beer and specialty beer will help this segment maintain its leading position, despite competition from spirits and premium wine, through 2021.
Cider, spirits, and wine follow beer in terms of popularity, and with ready-to-drink beverages in last place. The influence of millennial consumers and accommodation of allergies and restricted diets by major vendors are the main factors influencing the popularity of different market segments.
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