In its March 2020 “Top Trends in Dairy 2020” report, London-based GlobalData outlines the key consumer and innovation trends currently impacting the global dairy market. The report explores how the evolution of health-consciousness is impacting dairy choices, as well as how manufacturers can meet the often conflicting desires for experiential enjoyment and convenience. A few key findings from the report are presented below.
Dairy’s health benefits spell opportunity
The evolution of “health-consciousness” is both an opportunity and a challenge for dairy industry players. As consumers take a greater interest in how their diets can help prevent or manage their health concerns, the inherent health benefits of traditional dairy products well-position the products as an integral part of consumer diets.
Plant-based offerings pose a threat
More holistic approaches to health are elevating the plant-based movement as consumers strive to make more sustainable choices. This mentality is being driven by millennials, whose lack of brand loyalty and desire for more personalized food and drinks are adding a layer of complexity to dairy, which hasn’t had its wholesomeness and natural goodness contested until now.
But dairy still boasts appeal
Only approximately one in 10 global consumers is actively trying to reduce his or her dairy consumption, so the rise in plant-based dairy alternatives is less likely to be a function of consumers’ resistance to traditional dairy, but rather a reflection of efforts to embrace plant-based foods more generally.
Consumers welcome the unexpected
Perhaps surprisingly, consumers are more likely to experiment with dairy products than with characteristically indulgent products such as savory snacks and alcoholic drinks.