Global demand for fermented plant-based alternatives witnessed an uptick in 2020 due to shifting consumer interest toward personal health, planetary sustainability, and the ethical treatment of animals, especially in European and North American countries. COVID-19 outbreak has also boosted consumer interest in functional foods for boosting immunity and stress management. However, buying behavior of consumers is impacted by the ongoing crises as more consumers are moving toward the online purchase of food products rather than from supermarkets and departmental stores. The ongoing crises have not negatively impacted the demand for plant-based foods as the products avoid the risk of food allergies and infections caused due to meat and dairy products. The demand is projected to grow in the coming years as more consumers are developing healthy diet patterns in their daily lifestyles.

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Fermented plant-based dairy alternatives emerged as the largest segment in the global fermented plant-based alternatives market, majorly led by yogurt. A large number of consumers across the globe have been picking lactose-free and dairy-free food and beverages due to rising food allergies and diseases among consumers. It has been found that over two-thirds of the global population have lactose intolerance; as a result, the trend for fermented plant-based food is gaining more prevalence in the industry.

Global fermented plant-based alternatives are available for end users through hypermarket/supermarkets, convenience stores, specialty stores, and online. Online purchase of fermented plant-based food is projected to achieve a high growth rate due to the COVID-19 outbreak across the world, which has made consumers more aware of health and safety. There are multiple e-commerce websites such as BigBasket, Amazon, FreshDirect, Culina Yogurt, which offer fermented plant-based food products making the products more accessible to consumers. There are various manufacturing companies such as Nestle, Epigamia, Yakult, etc. who have their own online portals to sell fermented plant-based products.

The market of fermented plant-based alternatives varies from region to region. Europe is the largest market for fermented plant-based food and beverage owing to high consumer awareness for nutritional and healthy diet plans. Consumers in Europe are adopting plant-based food and beverages as a part of their diet plan due to growing veganism in the region.

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The competitive landscape of the fermented plant-based alternatives market consists of different strategies undertaken by major players across the industry to gain market presence. Some of the strategies adopted by manufacturers are new product launches, business expansions, and partnerships and collaborations. Among all the strategies adopted, product launches have been the most prominent strategy adopted by the providers.

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