Sector Outlook: Dairy
Published 07 February 2024
Despite facing strong competition from the plant-based alternatives sector, the dairy industry is proving its worth via new wellness-driven options and indulgent snacking and beverage innovations. It’s also investing heavily in lowering its environmental impact, from the farm to the shelf.
Dairy’s Extended Wellness Play
Indulgent Flavours Flourish
Dairy’s Eco Imperatives
As negative narratives surrounding full-fat milk continue to be debunked, health-driven consumers are increasingly choosing to reincorporate it into their diets. Meanwhile, affordable gut-health products, new high-protein formats and tech-driven sugar reduction will persist as important health-related dairy developments in 2024.
As negative narratives surrounding full-fat milk continue to be debunked, health-driven consumers are increasingly choosing to reincorporate it into their diets. Meanwhile, affordable gut-health products, new high-protein formats and tech-driven sugar reduction will persist as important health-related dairy developments in 2024.
Summary
Dairy’s Extended Wellness Play | As negative narratives surrounding full-fat milk continue to be debunked, health-driven consumers are increasingly choosing to reincorporate it into their diets. Meanwhile, affordable gut-health products, new high-protein formats and tech-driven sugar reduction will persist as important health-related dairy developments in 2024. |
Indulgent Flavours Flourish | Taste is the most prevalent reason given by Americans for choosing to consume milk and other dairy products, with 70% citing it as their main purchasing driver (McKinsey, 2023). As such, dairy is taking new flavoursome forms, from luxuriant flavoured butters and dairy-fat-washed cocktails to dessert-inspired rich yoghurts. |
Dairy’s Eco Imperatives | Traditional dairy producers are doubling down on their sustainability initiatives, from reducing methane emissions to eco-friendly yet functional packaging tweaks. Alongside this, competition is heating up in the cultivated dairy space as calls for more ethical options grow. |
Sector Outlook: Dairy
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