July 2020, MRFR Press Release/- Market Research Future has published a Report on the Global Vegan Sour Cream Market.
Global Vegan Sour Cream Market size is projected to be valued at USD 143 Million by 2027 at a CAGR of 9.10% between 2020 and 2027. The demand for vegan sour cream is increasing with the rising adoption of a vegan and vegetarian diet. The soy food products market has registered tremendous growth in the past few years, and the same trend is expected for the vegan product's market. The key players in the market have been responsive to shifting consumer preferences and are focused on new product launches and R&D. Major consumer goods companies forayed into the vegan sour cream market, for instance, in February 2019, Good Karma Foods launched plant-based sour cream. Moreover, the key players in the market are focusing on innovative product launches, such as blends of various sources. Investments in the market are projected to have a significant impact on the vegan sour cream market size during the forecast period.
Increasing demand for high protein plant-based food products
Growth Opportunities in the Market
Growing Demand for Organic Products: Vegan products are going hand-in-hand with booming demand for certified organic food. With the increasing demand for organic products, consumers will opt for organic vegan sour cream, which creates an opportunistic market for the manufacturers offering vegan sour cream and increase their sales.
High Investments in R&D: Manufacturers invest in research and technology development and investigative activities to improve existing products and procedures to develop new products. Numerous research studies and analyses have been done in this field already. Research and development will lead to the formation of new products with improved quality and functionality by including better formulation.
Non-Store-Based Distribution Channels Gaining Popularity Across the Globe: The non-store-based segment is projected to register the higher growth rate during the forecast period. Manufacturers of vegan sour cream are inclined toward non-store-based distribution channels for the sale of their products. Companies are opting for online distribution platforms as they want to extend their consumer reach.