The Global Fermented Plant-Based Alternatives Market is projected to reach $422.26 Million by 2026, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of during the forecast period from 2021 to 2026.
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Fermented plant-based alternatives are food and beverages used as a substitute for animal-based products and are produced through fermentation. Most common fermented plant-based alternatives include yogurt, kimchi, kombucha, soy sauce, etc. A plant-based diet refers to a diet of fruits, grains, vegetables, legumes, and several such ingredients other than animal sources.
Market Segmentation of Global Fermented Plant-Based Alternatives
The global fermented plant-based alternatives is segmented on the basis of application, product, and region.
• Application: Supermarkets/Hypermarkets, Online, Convenience Stores, and Specialty Stores
• Product: Fermented Plant-Based Dairy (Milk, Cheese, Yogurt, and Others), Fermented Plant-Based Pickles & Vegetables (Cucumber Pickles, Kimchi, Olives, and Others), Fermented Plant-Based Sauces & Seasonings (Soy Sauce, Gochujang, and Others), Fermented Plant-Based Bakery, and Fermented Plant-Based Meat
• Region: North America, South America, Europe, China, U.K., Middle East and Africa, and Asia-Pacific
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Key companies operating in the market
AngelYeast Co., Ltd, Cargill, Incorporated, Chr. Hansen Holding A/S, DuPont, Evonik Industries AG, Yofix Probiotics Ltd, Arla Foods, Danone, Field Roast Foods, General Mills Inc, Impossible Foods Inc., Nestle, Perfect Day, and The Hain Celestial Group, Inc
Growth/Marketing Strategy: The fermented plant-based alternatives manufacturers have opted for various development strategies to gain more market share and a competitive edge over other player. Partnerships and collaborations are the most common strategy adopted by companies in the time period January 2018-June 2021.